About Trupay
Trupay is a Financial Services company based in Gurugram (India) founded in 2015 by Vivek Lohcheb, and was acquired by tmw in January 2018. UPI-based POS payment solutions are offered to merchants for transactions. Trupay has raised $1.05 million across 2 funding rounds from investors including Kae Capital, Vistra ITCL and tmw. The company has 1 employees. Trupay was last valued at $2.67 million in July 2017. Its focus areas include FinTech, Payments, Business Payments and QR Code Payments. Its legal entity in India is Protinus Infotech Private Limited (U72200HR2015PTC057197). Its competitors include BharatPe, CU Pays and E Card Solution; 1 of its 3 listed competitors has raised funding.
Company details
Trupay was founded in 2015 and is headquartered in Gurugram, India. Operations focus on the fintech sector, where UPI-based POS solutions are provided to merchants for accepting payments. Businesses are enabled to process transactions online or via mobile devices, with customers transferring funds by entering phone numbers or scanning QR codes. Services support seamless digital payments in the Indian market.
- Headquarters Gurugram, India
- Employees 1
- Founders Vivek Lohcheb
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website trupay.in
- Social LinkedIn X Facebook
- Acquired by tmw (Jan 2018)
- Legal Name Protinus Infotech Private Limited
- Date of Incorporation 06 Nov, 2015
- Jurisdiction Gurgaon, Haryana, India
- Net Loss-₹52,452
FY 2016 · 0% margin
- EBITDA-₹57,396
FY 2016 · 0% margin
- Total Equity Funding$1.05M (USD)
in 2 rounds
- Latest Funding Round$700K (USD), Seed
Jul 2017
- InvestorsKae Capital
& 24 more
- Employee Count1
- Acquired bytmw
(Jan 2018)
Associated legal entities of Trupay
Trupay operates through Protinus Infotech Private Limited (strike off). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2016) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Protinus Infotech Private Limited CIN U72200HR2015PTC057197 | Strike Off | 06 Nov 2015 | Gurgaon, Haryana | 3 | View details |
Funding Insights of Trupay
Trupay has successfully raised a total of $1.05M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $700 thousand completed in July 2017. 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 $1.05M
- Total Rounds 2
- Last Round Seed — $700,000
- First Round $345,543
(Apr 2016)
- Investors Count 24
All 2 funding rounds of Trupay 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 2017 | $700,000 | Seed | $2.67M | Kae Capital | |
| Apr 2016 | $345,543 | Seed | $2.11M | Nimir Kishore Mehta, Sunil Ghorawat |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2017 | $2.67M | •••••••• |
| Apr 2016 | $2.11M | •••••••• |
Last known valuation $2.67M (Jul 2017). 25 investors in total: 7 institutional and 18 angel.
Investors in Trupay
Trupay has secured backing from 25 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include Kae Capital, Vistra ITCL and tmw.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage investing in tech startups in India. | 2011 | kae-capital.com | Mumbai, India | |
US companies are financed by Governing Dynamics across key sectors. | governingdynamics.com | New York, United States | ||
Investment banking firm offering capital advisory and acquisitions services | ms-capitalpartners.com | |||
Investment management and trustee services for financial instruments are provided. | 1995 | vistraitcl.com | Mumbai, India | |
Business consulting and solution services in India. | 2006 | realtimemcs.com | Gurugram, India | |
TJ Tarun Joshi | unknown_a2c2f09c8db740dab | |||
CH Chigusa Honda | unknown_f8fd2887230d40cc9 | |||
AM Alex Mashinsky | Serial entrepreneur, founder of Celsius Network, active angel investor in tech. | unknown_4f3469f6b3fd41859 | ||
TJ Tarun Joshi | Co-founder of IEX, angel investor in energy and tech startups | unknown_37101b626c8d4432b | ||
NK Nimir Kishore Mehta | unknown_6f562b33e9f548cda |
Investor details for Trupay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
Board of directors of Protinus Infotech Private Limited (Trupay)
Protinus Infotech Private Limited is the primary company behind Trupay. The board of Protinus Infotech Private Limited currently have 3 directors; the longest-serving is Narender Kumar, appointed in 2015. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Narender Kumar DIN 03295345 | Director | 06 Nov 2015 | 11 yrs | Protinus Infotech Private Limited |
| Rahul Gochhwal DIN 03495858 | Director | 06 Nov 2015 | 11 yrs | Protinus Infotech Private Limited |
| Hitesh Chawla DIN 03533684 | Director | 31 Aug 2018 | 8 yrs 2 mo | Protinus Infotech Private Limited |
People of Trupay
1 people are tracked at Trupay (1 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
Vivek Lohcheb | Co-Founder | Leadership |
Complete people profiles for Trupay
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Trupay
Figures of Protinus Infotech Private Limited, the primary company behind Trupay, for FY 2016. Net loss was -₹52,452 (0% margin). EBITDA was -₹57,396 (0% margin).
- -₹52,452Net loss · 0% margin
- -₹57,396EBITDA · 0% margin
- ₹1.9 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Protinus Infotech Private Limited are on its company page.
Detailed financial statements for Trupay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Trupay
5 dated milestones of Trupay across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Trupay is founded.
- Funding First funding round of $346K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $700K.
- Exit Acquired by tmw.
Competitors of Trupay
Trupay has 3 listed competitors in our database, 1 of them funded. They include BharatPe, CU Pays and E Card Solution.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bharatpe.com | 2018 | Gurugram, India | $589.25M | 709 | Payment acceptance and processing solutions provider for businesses | |
| cupays.com | 2017 | Sahibzada Ajit Singh Nagar, India | 32 | Provides a money transfer app using QR code technology. | ||
| ecard-uonely.com | 2024 | Kolkata, India | Offers QR code-based payment solutions for businesses. |
Detailed competitors of Trupay
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Trupay (Payments & Remittance Platforms) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | USD 950.07 M | 12,265 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 |
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Related news about Trupay
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Frequently Asked Questions about Trupay
Trupay was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Trupay is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Trupay is a funded company, having raised a total of $1.05M across 2 funding rounds to date. The company's 1st funding round was a Seed of $345.54K, raised on Apr 2016.
Trupay has 1 employees.
Trupay was founded in 2015 and is headquartered in Gurugram, India. Operations focus on the fintech sector, where UPI-based POS solutions are provided to merchants for accepting payments. Businesses are enabled to process transactions online or via mobile devices, with customers transferring funds by entering phone numbers or scanning QR codes. Services support seamless digital payments in the Indian market.
Trupay's top competitors include BharatPe, CU Pays and E Card Solution.
Trupay has 25 investors. Key investors include Kae Capital, Vistra ITCL, tmw, Real Time MCS, and M&S Capital Partners.
The valuation of Trupay is $2.67M as of Jul 2017.
Trupay operates through Protinus Infotech Private Limited.
Yes. Trupay was acquired by tmw in January 2018.
The legal entities of Trupay currently have 3 directors, including Narender Kumar, Rahul Gochhwal, Hitesh Chawla.