About Spice Money
Spice Money is a company based in Noida (India) founded in 2000 by Saket Agarwal and Dilip Modi.. Spice Money has raised $15.42 million across 2 funding rounds from investors including Sood Infomatics and Lehman Brothers Opportunity. The company has 1,219 employees as of April 08, 2024. Spice Money offers products and services including AePS Services, Loan Collection Services, Account Opening, and Bill Payments and Recharge. Spice Money operates in a competitive market with competitors including Dvara KGFS, Kaleidofin, PayNearby, Fino Paytech and Sub-K, among others.
- Headquarter Noida, India
- Employees 1219 as on 08 Apr, 2024
- Founders Saket Agarwal, Dilip Modi
- Stage Minicorn
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Spice Money Limited
- Jurisdiction New Delhi, Delhi, India
-
Annual Revenue
$20.13 M (USD)-50.41as on Mar 31, 2019
-
Net Profit
$-607.18 K (USD)92.94as on Mar 31, 2019
-
EBITDA
$-369.69 K (USD)-102.39as on Mar 31, 2019
-
Total Equity Funding
$15.42 M (USD)
in 2 rounds
-
Latest Funding Round
$406.5 K (USD), Series B
Dec 14, 2020
-
Investors
Sood Infomatics
& 1 more
-
Employee Count
1219
as on Apr 08, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Spice Money
Spice Money offers a comprehensive portfolio of products and services, including AePS Services, Loan Collection Services, Account Opening, and Bill Payments and Recharge. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Facilitates secure Aadhaar-based deposits and withdrawals for users
Handles cash and EMI collections for loans in rural areas
Enables easy account creation through digital verification
Processes bill payments and mobile recharges via network
Unlock access to complete
Unlock access to complete
Funding Insights of Spice Money
Spice Money has successfully raised a total of $15.42M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $406.5 thousand completed in December 2020. 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 Total Funding
- Total Rounds 2
- Last Round Series B — $406,500
-
First Round
First Round
(28 Nov 2006)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2020 | Amount | Series B - Spice Money | Valuation | Sood Infomatics |
|
| Nov, 2006 | Amount | Series A - Spice Money | Valuation | Lehman Brothers Opportunity |
|
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Spice Money
Spice Money has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Sood Infomatics and Lehman Brothers Opportunity. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office focused on technology companies
|
Founded Year | Domain | Location | |
|
Limited information is available on core activities.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Spice Money
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Spice Money
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spice Money Comparisons
Competitors of Spice Money
Spice Money 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 Dvara KGFS, Kaleidofin, PayNearby, Fino Paytech and Sub-K, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Loans for consumers and SMEs are provided alongside financial services.
|
|
| domain | founded_year | HQ Location |
Provider of financial technology solutions for inclusive lending
|
|
| domain | founded_year | HQ Location |
Digital payment and banking services are facilitated via retail partnerships.
|
|
| domain | founded_year | HQ Location |
Technology solutions for banking and financial sectors are provided.
|
|
| domain | founded_year | HQ Location |
Provider of digital financial services for underserved populations
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Spice Money
Frequently Asked Questions about Spice Money
When was Spice Money founded?
Spice Money was founded in 2000 and raised its 1st funding round 6 years after it was founded.
Where is Spice Money located?
Spice Money is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Is Spice Money a funded company?
Spice Money is a funded company, having raised a total of $15.42M across 2 funding rounds to date. The company's 1st funding round was a Series A of $15.01M, raised on Nov 28, 2006.
How many employees does Spice Money have?
As of Apr 08, 2024, the latest employee count at Spice Money is 1,219.
What is the annual revenue of Spice Money?
Annual revenue of Spice Money is $20.13M as on Mar 31, 2019.
What does Spice Money do?
Digital payment and banking service provider in rural areas. This includes Aadhaar-enabled services, domestic money transfers, loan and cash EMI collection, bill payments, and ticket booking. It offers a network facilitating access to financial services for underserved populations. Services are delivered through a network of agents and mini ATMs. It also provides loan and credit services and account opening facilities.
Who are the top competitors of Spice Money?
Spice Money's top competitors include Kaleidofin, Fino Paytech and PayNearby.
What products or services does Spice Money offer?
Spice Money offers AePS Services, Loan Collection Services, Account Opening, and Bill Payments and Recharge.
Who are Spice Money's investors?
Spice Money has 2 investors. Key investors include Sood Infomatics, and Lehman Brothers Opportunity.
What is Spice Money's valuation?
The valuation of Spice Money is $21.01M as of Dec 2020.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.