About SOCASH
SOCASH is a Financial Services company based in Singapore (Singapore) founded in 2016 by Kottopadath Payyakal Rekha and Salil Sankaran, and was acquired by NIUM in April 2022. Cash withdrawals are enabled through a mobile app platform. SOCASH has raised $12.4 million across 6 funding rounds from investors including Grab, NIUM and T-Hub. The company has 6 employees. Its Indian entity Socash India Private Limited reported revenue of ₹4.24 Cr. The company was acqui-hired. Its focus areas include FinTech, Banking Tech, Core Banking Platforms and ATM Management.
Company details
SOCASH was established in 2016 in Singapore as a fintech platform. Cash access is provided via a mobile app, allowing users to choose withdrawal amounts and identify nearby collection points. Funds are retrieved at designated locations, with bank integrations via APIs facilitating digital transactions. The service operates on Android and iOS devices, targeting users in the region.
- Headquarters Singapore, Singapore
- Employees 6
- Founders Kottopadath Payyakal Rekha, Salil Sankaran
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website socash.io
- Social LinkedIn X Facebook
- Acquired by NIUM (Apr 2022)
- Legal Name Socash India Private Limited
- Date of Incorporation 06 Apr, 2017
- Jurisdiction New Delhi, Delhi, India
- Indian entity revenue₹4.24 Cr
FY 2023 · -43% YoY
- Indian entity net profit₹44.1 Lakh
FY 2023 · 10% margin
- Indian entity EBITDA₹60.1 Lakh
FY 2023 · 14% margin
- Total Equity Funding$12.4M (USD)
in 6 rounds
- Latest Funding Round$6M (USD), Series B
Jul 2019
- InvestorsGrab
& 5 more
- Employee Count6
- Acquired byNIUM
(Apr 2022)
Associated legal entities of SOCASH
SOCASH operates through Socash India Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Socash India Private Limited CIN U74999DL2017FTC315647 | Active | 06 Apr 2017 | New Delhi, Delhi | ₹4.2 Cr | 6 | 2 | View details |
Funding Insights of SOCASH
SOCASH has successfully raised a total of $12.4M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $6 million completed in July 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $12.4M
- Total Rounds 6
- Last Round Series B — $6M
- First Round $300,000
(Jul 2016)
- Investors Count 5
All 6 funding rounds of SOCASH with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2019 | $6M | Series B | – | Glory Global Solutions | |
| Aug 2018 | $5.5M | Series A | – | Vertex Ventures | – |
| Oct 2017 | Series A | – | Grab, Vertex Ventures | – | |
| Mar 2017 | $600,000 | Angel Round | – | – | – |
| Mar 2017 | Seed | – | T-Hub | – | |
| Jul 2016 | $300,000 | Seed | – | – | – |
6 investors in total: 6 institutional.
Investors in SOCASH
SOCASH has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Grab, NIUM and T-Hub.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
VC fund backed by Standard Chartered | scventures.io | Singapore, Singapore | ||
Venture capital fund focused on multiple sectors | 1997 | vertexventures.sg | Singapore, Singapore | |
Innovation hub connecting startups, corporates, and partners in technology and ecosystem development. | 2015 | t-hub.co | Hyderabad, India | |
Note counters, sorters, and POS devices are manufactured. | 1918 | glory-global.com | Basingstoke, United Kingdom | |
Ride-hailing and on-demand delivery services are aggregated via mobile app. | 2012 | grab.com | Singapore, Singapore | |
Cross-border money transfer solutions are provided for businesses globally. | 2014 | nium.com | Singapore, Singapore |
Investor details for SOCASH
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Socash India Private Limited (SOCASH)
Socash India Private Limited is the primary company behind SOCASH. The board of Socash India Private Limited currently have 2 directors; the longest-serving is Kailash Suresh Gupta, appointed in 2024. 7 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Kailash Suresh Gupta DIN 03070619 | Additional Director | 15 Aug 2024 | 2 yrs 2 mo | Socash India Private Limited |
| Chintan Doshi DIN 07416405 | Additional Director | 30 Aug 2024 | 2 yrs 2 mo | Socash India Private Limited |
People of SOCASH
4 people are tracked at SOCASH (3 in leadership, 1 in team); the tracked headcount is 6.
| Name | Role | Group |
|---|---|---|
Kottopadath Payyakal Rekha | Co-Founder | Leadership |
Salil Sankaran | Co-Founder | Leadership |
Mrinal Parab | Vice President | Leadership |
Hamesri Sundary Sasiwaran | Senior Manager, Customer Experience | Team |
Complete people profiles for SOCASH
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of SOCASH
Figures of Socash India Private Limited, the primary company behind SOCASH, for FY 2023. Revenue was ₹4.24 Cr (-43% year on year). Net profit was ₹44.1 Lakh (10% margin). EBITDA was ₹60.1 Lakh (14% margin). Revenue has grown at a compounded annual rate of -10% over three years and +26% over five years.
- ₹4.24 CrRevenue · FY 2023 · -43% YoY
- ₹44.1 LakhNet profit · 10% margin
- ₹60.1 LakhEBITDA · 14% margin
- ₹1 LakhPaid-up capital
- 6Employees (provident fund records)
- -10%Revenue CAGR, 3 years
- +26%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Socash India Private Limited are on its company page.
Detailed financial statements for SOCASH
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of SOCASH
4 dated milestones of SOCASH across 6 years, from founding to its latest funding, stage changes and deals.
- Founded SOCASH is founded.
- Funding First funding round of $300K.
- Funding Latest funding round, Series B, of $6.0M.
- Exit Acquired by NIUM.
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Related news about Socash
Complete news archive for SOCASH
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Frequently Asked Questions about SOCASH
SOCASH was founded in 2016.
SOCASH is headquartered in Singapore, Singapore.
SOCASH is a funded company, having raised a total of $12.4M across 6 funding rounds to date. The company's 1st funding round was a Seed of $300K, raised on Jul 2016.
SOCASH has 6 employees.
The primary company behind SOCASH, Socash India Private Limited, reported revenue of ₹4.24 Cr for FY 2023, down 43% year on year.
SOCASH was established in 2016 in Singapore as a fintech platform. Cash access is provided via a mobile app, allowing users to choose withdrawal amounts and identify nearby collection points. Funds are retrieved at designated locations, with bank integrations via APIs facilitating digital transactions. The service operates on Android and iOS devices, targeting users in the region.
SOCASH has 6 investors. Key investors include Grab, NIUM, T-Hub, Vertex Ventures SG, and GLORY.
SOCASH operates through Socash India Private Limited.
Yes. SOCASH was acquired by NIUM in April 2022.
The legal entities of SOCASH currently have 2 directors, including Kailash Suresh Gupta, Chintan Doshi.