About Torus Innovations
Torus Innovations is a Financial Services company based in Chennai (India) founded in 2016 by Praveen Sekar and Sekar Ponniah. It offers low-code tools for event-driven, citizen-scale application development. It operates on a B2B and SaaS model in Financial Services and Technology sectors. The company has 14 employees. Its Indian entity Torus Innovations Private Limited reported revenue of ₹12.1 Lakh. Torus Innovations offers products and services including Torus Platform, Open Banking Solutions, Payment Hub, and Smart Claims Engine. Its focus areas include FinTech, Open Banking, API Solutions and Data Fabric. Similar companies include Odoo, OutSystems, DigitalOcean, Heroku and Skytap and 5 more; 9 of its 10 listed similar companies have raised funding.
Company details
Torus Innovations is an RD lab and platform organization that delivers an AI-enabled, event-driven low-code development platform for building scalable applications. It focuses on sectors like open banking, payment processing, and insurance claims automation. The platform supports compliance with regulations and enables multi-tenant setups for enterprise needs. Based in Chennai and Tirunelveli, India, it collaborates with global partners to create domain-agnostic solutions quickly and efficiently.
- Headquarters Chennai, India
- Employees 14
- Founders Praveen Sekar, Sekar Ponniah
- SectorsFinancial ServicesTechnology
- Email••••••••
- Phone•••• ••••
- Website torus.tech
- Social LinkedIn Facebook
- Legal Name Torus Innovations Private Limited
- Date of Incorporation 23 Feb, 2016
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹12.1 Lakh
FY 2024 · +34% YoY
- Net Profit₹8.9 Lakh
FY 2024 · 74% margin
- EBITDA₹10 Lakh
FY 2024 · 83% margin
- Employee Count14
Associated legal entities of Torus Innovations
Torus Innovations operates through Torus Innovations Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Torus Innovations Private Limited CIN U72300TN2016PTC104301 | Active | 23 Feb 2016 | Chennai, Tamil Nadu | ₹0.1 Cr | 14 | 2 | View details |
Products & Services of Torus Innovations
Torus Innovations offers a comprehensive portfolio of products and services, including Torus Platform, Open Banking Solutions, Payment Hub, and Smart Claims Engine.
Platform for creating AI-enabled event-driven applications.
Tools for building regulation-compliant banking APIs.
Engine for handling high-volume transaction processing.
System for streamlining insurance claims handling.
Board of directors of Torus Innovations Private Limited (Torus Innovations)
Torus Innovations Private Limited is the primary company behind Torus Innovations. The board of Torus Innovations Private Limited currently have 2 directors; the longest-serving is Vijayalakshmi Sundaram Sekar, appointed in 2016.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vijayalakshmi Sundaram Sekar DIN 00817867 | Director | 23 Feb 2016 | 10 yrs 7 mo | Torus Innovations Private Limited |
| Sekar Sundaram Ponniah Thevar DIN 00817893 | Director | 23 Feb 2016 | 10 yrs 7 mo | Torus Innovations Private Limited |
People of Torus Innovations
2 people are tracked at Torus Innovations (2 in leadership); the tracked headcount is 14.
| Name | Role | Group |
|---|---|---|
Praveen Sekar | Co-Founder | Leadership |
| Co-Founder | Leadership |
Complete people profiles for Torus Innovations
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Financials of Torus Innovations
Figures of Torus Innovations Private Limited, the primary company behind Torus Innovations, for FY 2024. Revenue was ₹12.1 Lakh (+34% year on year). Net profit was ₹8.9 Lakh (74% margin). EBITDA was ₹10 Lakh (83% margin). Revenue has grown at a compounded annual rate of -19% over three years and -42% over five years.
- ₹12.1 LakhRevenue · FY 2024 · +34% YoY
- ₹8.9 LakhNet profit · 74% margin
- ₹10 LakhEBITDA · 83% margin
- ₹10 LakhPaid-up capital
- 14Employees (provident fund records)
- -19%Revenue CAGR, 3 years
- -42%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Torus Innovations Private Limited are on its company page.
Detailed financial statements for Torus Innovations
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Similar companies to Torus Innovations
Torus Innovations has 10 listed similar companies in our database, 9 of them funded. They include Odoo, OutSystems, DigitalOcean, Heroku and Skytap, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| odoo.com | 2005 | Louvain-la-neuve, Belgium | $482.62M | 1 | Open-source business management software is developed with integrated modules. | |
| outsystems.com | 2001 | Linda A Velha, Portugal | $802.95M | – | Low-code platform enables application development and deployment without coding. | |
| digitalocean.com | 2011 | New York, United States | $173.73M | 591 | Cloud based integrated application development platform | |
| heroku.com | 2007 | San Francisco, United States | $17M | – | Saas based provider of integrated platform as a service solutions | |
| skytap.com | 2006 | Seattle, United States | $127.51M | 138 | Cloud-based environments are delivered for application development and testing. | |
| carto.com | 2012 | New York, United States | $123M | – | Cloud based integrated solutons for software development | |
| skuid.com | 2013 | Chattanooga, United States | $29M | 114 | Codeless platform for application development and data integration is provided. | |
| progress.com | 1981 | Bedford, United States | – | 450 | IDE-based software is provided for application development and management. | |
| platform.sh | 2010 | Paris, France | $187.3M | – | Continuous deployment platform for cloud-based web applications is provided. | |
| kony.com | 2007 | Austin, United States | $107.67M | 222 | Cloud-based platform for field operations and digital banking is provided. |
Detailed similar companies of Torus Innovations
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Top companies in Banking & FinTech Platforms
10 companies that operate in the same segment as Torus Innovations (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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Frequently Asked Questions about Torus Innovations
Torus Innovations was founded in 2016.
Torus Innovations is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Torus Innovations has 14 employees.
The primary company behind Torus Innovations, Torus Innovations Private Limited, reported revenue of ₹12.1 Lakh for FY 2024, up 34% year on year.
Torus Innovations is an RD lab and platform organization that delivers an AI-enabled, event-driven low-code development platform for building scalable applications. It focuses on sectors like open banking, payment processing, and insurance claims automation. The platform supports compliance with regulations and enables multi-tenant setups for enterprise needs. Based in Chennai and Tirunelveli, India, it collaborates with global partners to create domain-agnostic solutions quickly and efficiently.
Torus Innovations's top competitors include DigitalOcean, Heroku and Odoo.
Torus Innovations offers Torus Platform, Open Banking Solutions, Payment Hub, and Smart Claims Engine.
Torus Innovations operates through Torus Innovations Private Limited.
The legal entities of Torus Innovations currently have 2 directors, including Vijayalakshmi Sundaram Sekar, Sekar Sundaram Ponniah Thevar.