About Vegapay
Vegapay is a company based in Mumbai (India) founded in 2022 by Puneet Sharma, Gaurav Mittal, Himanshu Agrawal, and Abhinav Garg. It operates as a API-as-a-Product and FinTech. Vegapay has raised $6.6 million across 2 funding rounds from investors including LetsVenture, DSP Mutual Fund and Upsparks Capital. Vegapay offers products and services including Credit on UPI, Card Programs, Lending Tech, and Vegapay BizTech. Vegapay operates in a competitive market with competitors including Hyperface, Wibmo, 42 Card Solutions, Mindgate and Boson Systems, among others.
- Headquarter Mumbai, India
- Founders Puneet Sharma, Gaurav Mittal, Himanshu Agrawal, Abhinav Garg
- Stage Minicorn
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Sectors
Financial Services
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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 Vegapay Technology Pvt. Ltd.
- Date of Incorporation 17 Jun, 2022
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$9.1 K (USD)0as on Mar 31, 2023
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Net Profit
-$156.48 K (USD)0as on Mar 31, 2023
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EBITDA
-$125.72 K (USD)0as on Mar 31, 2023
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Total Equity Funding
$6.6 M (USD)
in 2 rounds
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Latest Funding Round
$5.5 M (USD), Series A
May 24, 2024
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Investors
LetsVenture
& 12 more
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Employee Count
Not available
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Products & Services of Vegapay
Vegapay offers a comprehensive portfolio of products and services, including Credit on UPI, Card Programs, Lending Tech, and Vegapay BizTech.
Integration of UPI and credit is seamlessly provided.
Card management system is built for rapid deployment.
Loan processes are digitized with pre-integrated services offered.
Back-office and loyalty programs are comprehensively managed here.
People of Vegapay
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Funding Insights of Vegapay
Vegapay has successfully raised a total of $6.6M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $5.5 million completed in May 2024. 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 Vegapay
Vegapay has secured backing from 13 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include LetsVenture, DSP Mutual Fund and Upsparks Capital.
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Elevation Capital is focused on early-stage tech investments in India.
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Pre-seed startups are invested in by Eximius Ventures.
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Investment in public and private markets in India, including equity, debt, and real estate.
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Investor details for Vegapay
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Investments & Acquisitions by Vegapay
Investment portfolio details for Vegapay
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Financial Statements - Vegapay
Detailed financials for Vegapay
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Vegapay Comparisons
Peer comparison for Vegapay
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Competitors of Vegapay
Vegapay 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 Hyperface, Wibmo, 42 Card Solutions, Mindgate and Boson Systems, among others.
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Provider of platform for launching and managing credit card programs
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Digital payment solutions are provided to banks, merchants, and consumers.
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Credit card solution provider for banks and other regulated financial institutions
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Digital payment platforms and transaction management services are provided.
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White-labeled digital payment platform with cardless ATM features is offered.
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Provider of mobile payment solutions and secure transaction platforms
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Detailed competitors of Vegapay
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Latest news on Vegapay
Complete news archive for Vegapay
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Frequently Asked Questions about Vegapay
Vegapay was founded in 2022.
Vegapay is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Gaurav Mittal is the current CEO of Vegapay. They have also founded this company.
Vegapay is a funded company, having raised a total of $6.6M across 2 funding rounds to date.
Annual revenue of Vegapay is $9.1K as on Mar 31, 2023.
Vegapay is engaged in developing technology solutions for the banking sector. Banking products are enabled through rapid deployment platforms, covering areas such as credit on UPI, card programs, lending technology, and business management tools. Innovative integration between UPI and credit systems is provided, alongside hyper-configurable card management systems and digitized loan processes. A comprehensive suite for back-office operations and loyalty programs is also offered. The company targets financial institutions seeking faster go-to-market strategies with cloud-native, API-first, and automation-driven solutions.
Vegapay offers Credit on UPI, Card Programs, Lending Tech, and Vegapay BizTech.
Vegapay has 13 investors. Key investors include LetsVenture, DSP Mutual Fund, Upsparks Capital, MGA Ventures, and Elevation Capital.
The valuation of Vegapay is $21.98M as of May 2024.