About The BankNXT
The BankNXT is a Financial Services company based in Hyderabad (India) founded in 2020 by Maulik Shah, Krishna Kishore, and Anil Bharadwaj. It operates as an a digital bank serving startups and SMEs, with no funding raised to date. It operates on a B2B model. The company has 385 employees. Its Indian entity Payswiff Solutions Private Limited reported revenue of ₹284 Cr. Its focus areas include Banking, Digital Banking and Startup and SME Services. Its competitors include Tide, Open, Chqbook, ZikZuk and Vanghee and 4 more; 7 of its 9 listed competitors have raised funding.
Company details
The BankNXT a digital bank serving startups and smes, with no funding raised to date through offering financial products and advice, banking, digital banking, and startup and sme services. Prioritizing client-centric approaches, it ensures high-quality outcomes, innovation, and sustainable practices in its field.
- Headquarters Hyderabad, India
- Employees 385
- Founders Maulik Shah, Krishna Kishore, Anil Bharadwaj
- SectorsFinancial Services
- Website thebanknxt.com
- Social X Facebook
- Legal Name Payswiff Solutions Private Limited
- Date of Incorporation 03 Dec, 2012
- Jurisdiction Hyderabad, Telangana, India
- Annual Revenue₹284 Cr
FY 2022 · +38% YoY
- Net Loss-₹13.63 Cr
FY 2022 · -5% margin
- EBITDA-₹86.4 Lakh
FY 2022 · 0% margin
- Employee Count385
Associated legal entities of The BankNXT
The BankNXT operates through Payswiff Solutions Private Limited (amalgamated). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Payswiff Solutions Private Limited CIN U74120TG2012PTC084551 | Amalgamated | 03 Dec 2012 | Hyderabad, Telangana | ₹284 Cr | 385 | 5 | View details |
Board of directors of Payswiff Solutions Private Limited (The BankNXT)
Payswiff Solutions Private Limited is the primary company behind The BankNXT. The board of Payswiff Solutions Private Limited currently have 5 directors; the longest-serving is Priti Maulik Shah, appointed in 2014. 14 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Priti Maulik Shah DIN 06654231 | Director | 10 Mar 2014 | 12 yrs 7 mo | Payswiff Solutions Private Limited |
| Prabhuram Radhakrishnan DIN 01673968 | Director | 13 Aug 2015 | 11 yrs 2 mo | Payswiff Solutions Private Limited |
| Arulselvan Dharmalingam DIN 00010065 | Director | 11 Mar 2022 | 4 yrs 7 mo | Payswiff Solutions Private Limited |
| Ravindra Kumar Kundu DIN 07337155 | Director | 11 Mar 2022 | 4 yrs 7 mo | Payswiff Solutions Private Limited |
| Arun Venkatachalam DIN 09511997 | Director | 11 Mar 2022 | 4 yrs 7 mo | Payswiff Solutions Private Limited |
People of The BankNXT
3 people are tracked at The BankNXT (3 in leadership); the tracked headcount is 385.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
Krishna Kishore | Co-Founder | Leadership |
Anil Bharadwaj | Co-Founder, CCO | Leadership |
Complete people profiles for The BankNXT
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Financials of The BankNXT
Figures of Payswiff Solutions Private Limited, the primary company behind The BankNXT, for FY 2022. Revenue was ₹284 Cr (+38% year on year). Net loss was -₹13.63 Cr (-5% margin). EBITDA was -₹86.4 Lakh (0% margin). Revenue has grown at a compounded annual rate of +54% over three years and +61% over five years.
- ₹284 CrRevenue · FY 2022 · +38% YoY
- -₹13.63 CrNet loss · -5% margin
- -₹86.4 LakhEBITDA · 0% margin
- ₹3.55 CrPaid-up capital
- 385Employees (provident fund records)
- +54%Revenue CAGR, 3 years
- +61%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Payswiff Solutions Private Limited are on its company page.
Detailed financial statements for The BankNXT
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Competitors of The BankNXT
The BankNXT has 9 listed competitors in our database, 7 of them funded. They include Tide, Open, Chqbook, ZikZuk and Vanghee, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| tide.co | 2015 | London, United Kingdom | $180.56M | 1,395 | Tide is recognized as a digital banking platform for businesses. | |
| open.money | 2017 | Bengaluru, India | $232.9M | 267 | A platform is operated for streamlining business payments and invoicing. | |
| chqbook.com | 2017 | Gurugram, India | $12.33M | 2 | Provider of banking, lending, insurance, and transaction management solutions for small businesses | |
| zikzuk.com | 2011 | Hyderabad, India | $1.43M | 443 | Neobanking and business intelligence platforms are offered to SMEs. | |
| vanghee.com | 2016 | Chennai, India | $22,720 | 37 | Digital bank for businesses | |
| tijoree.money | 2020 | Mumbai, India | $2.24M | – | Digital banking services for businesses are provided online. | |
| financekaart.com | 2018 | Lucknow, India | $64,738 | – | AI-driven credit and financial services are provided for small businesses. | |
| akontopay.com | 2015 | Noida, India | – | – | Offers secure online payment processing and integration for businesses worldwide. | |
| bulkpe.in | 2022 | Chennai, India | – | – | Internet-first bank offering digital banking services for businesses |
Detailed competitors of The BankNXT
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Top companies in Banking & FinTech Platforms
10 companies that operate in the same segment as The BankNXT (Banking & FinTech Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Tide is recognized as a digital banking platform for businesses. | 2015 | London, England, United Kingdom | USD 180.56 M | – | 3,462 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Banking solutions are provided for retail customers and businesses. | 2015 | London, England, United Kingdom | USD 1.73 B | USD 5.95 B | 20,299 | |
Internet first bank for individuals and businesses | 2015 | London, England, United Kingdom | USD 2.37 B | USD 2.31 M | 3,786 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | – | 237 | |
Digital banking services are offered to consumers and businesses. | 2014 | London, England, United Kingdom | USD 1.01 B | USD 813.42 M | 2,835 | |
Payment and banking solutions are provided to users and banks. | 2015 | San Ramon, California, United States | USD 390 M | USD 532.2 K | 2,149 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.2 B | – | 5,356 | |
Digital banking services are provided for individuals and businesses. | 2014 | Blyth, England, United Kingdom | USD 852.48 M | – | 556 |
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Related news about The Banknxt
Complete news archive for The BankNXT
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Frequently Asked Questions about The BankNXT
The BankNXT was founded in 2020.
The BankNXT is headquartered in Hyderabad, India. It is registered at Hyderabad, Telangana, India.
The BankNXT has 385 employees.
The primary company behind The BankNXT, Payswiff Solutions Private Limited, reported revenue of ₹284 Cr for FY 2022, up 38% year on year.
The BankNXT a digital bank serving startups and smes, with no funding raised to date through offering financial products and advice, banking, digital banking, and startup and sme services. Prioritizing client-centric approaches, it ensures high-quality outcomes, innovation, and sustainable practices in its field.
The BankNXT operates through Payswiff Solutions Private Limited.
The legal entities of The BankNXT currently have 5 directors, including Arulselvan Dharmalingam, Ravindra Kumar Kundu, Prabhuram Radhakrishnan and others.