About Spense
Spense is a company based in Bengaluru (India) founded in 2022 by Iqbal Mohammed, Pawan Kumar, and Srinivas Krishnamurthy. Spense has raised $2.2 million across 2 funding rounds from investors including GrowthCap Ventures, Kunal Shah and Sayandeb Banerjee. The company has 9 employees as of March 28, 2024. Spense operates in a competitive market with competitors including Trustly, MITIGA Solutions, Komunal, Global Predictions and Hardbacon, among others.
- Headquarter Bengaluru, India
- Employees 9 as on 28 Mar, 2024
- Founders Iqbal Mohammed, Pawan Kumar, Srinivas Krishnamurthy
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Sectors
Financial ServicesTechnology
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Email
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Phone
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Website
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Social
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- Legal Name Spense Reliable Fintech Solutions Private Limited
- Date of Incorporation 30 Jun, 2022
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$2.2 M (USD)
in 2 rounds
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Latest Funding Round
$1.85 M (USD), Seed
Jun 02, 2025
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Investors
GrowthCap Ventures
& 6 more
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Employee Count
9
as on Mar 28, 2024
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Funding Insights of Spense
Spense has successfully raised a total of $2.2M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1.85 million completed in June 2025. 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.
Investors in Spense
Spense has secured backing from 7 investors, including venture fund and angel investors. Prominent investors backing the company include GrowthCap Ventures, Kunal Shah and Sayandeb Banerjee.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage investments in Fintech, SaaS, and Deep Tech sectors with a focus on capital and advisory support.
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Venture capital fund investing in early-stage start-ups
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Kunal Shah |
Founder of CRED, serial entrepreneur, and prominent Indian angel investor
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Investor details for Spense
Investor domains, locations, round participation, and complete history require an active premium plan.
- Investor domains
- Investor locations
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Investments & Acquisitions by Spense
Investment portfolio details for Spense
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
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Financial Statements - Spense
Detailed financials for Spense
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- Profit trends
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Spense Comparisons
Peer comparison for Spense
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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Competitors of Spense
Spense operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Trustly, MITIGA Solutions, Komunal, Global Predictions and Hardbacon, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Open banking payment processing is enabled for businesses and consumers.
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AI based environment sustainability and risk management solutions
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Digital banking services are provided for rural communities in Indonesia.
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AI-based software suite for financial market analysis is offered.
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Financial products are compared through a mobile app for individuals.
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AI-based forensic accounting reports are generated for investment decisions.
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Detailed competitors of Spense
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
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Latest news on Spense
Complete news archive for Spense
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- Full article archive
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Frequently Asked Questions about Spense
Spense was founded in 2022.
Spense is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Pawan Kumar is the current CEO of Spense. They have also founded this company.
Spense is a funded company, having raised a total of $2.2M across 2 funding rounds to date.
As of Mar 28, 2024, the latest employee count at Spense is 9.
Founded in 2022 and based in Bengaluru, India, Spense operates in the fintech sector by offering a no-code platform for building financial applications. Services encompass KYC onboarding, digital banking features, deposit management, card and payment processing, UPI integration, escrow handling, mutual fund access, P2P investment tools, and digital gold options. Regulatory compliance assistance is included to support product launches.
Spense's top competitors include Trustly, MITIGA Solutions and Hardbacon.
Spense has 7 investors. Key investors include GrowthCap Ventures, Kunal Shah, Sayandeb Banerjee, QED Investors, and Ravi Sudhakar Kambhampati.