About Volopay
Volopay is a company based in Singapore (Singapore) founded in 2020 by Rajith Shaji and Rajesh Raikwar.. Volopay has raised $31.25 million across 5 funding rounds from investors including Rapyd, VentureSouq and Antler. The company has 103 employees as of April 07, 2024. Volopay offers products and services including Corporate Cards, Expense Management, Business Accounts, Accounts Payables, and ERP Integration. Volopay operates in a competitive market with competitors including Intuit, Xero, FreshBooks, Sodexo and Spenmo, among others.
- Headquarter Singapore, Singapore
- Employees 103 as on 07 Apr, 2024
- Founders Rajith Shaji, Rajesh Raikwar
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Sectors
TechnologyTravel & Hospitality 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 Volopay India Private Limited
- Date of Incorporation 26 Oct, 2021
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$710.88 K (USD)53265026.13as on Mar 31, 2023
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Net Profit
$-940.79 K (USD)-71504.06as on Mar 31, 2023
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EBITDA
$-934.42 K (USD)-70947.25as on Mar 31, 2023
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Total Equity Funding
$31.25 M (USD)
in 5 rounds
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Latest Funding Round
$29 M (USD), Series A
Mar 01, 2022
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Investors
Rapyd
& 17 more
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Employee Count
103
as on Apr 07, 2024
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Products & Services of Volopay
Volopay offers a comprehensive portfolio of products and services, including Corporate Cards, Expense Management, Business Accounts, Accounts Payables, and ERP Integration. 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.
Physical and virtual cards for managing business expenses securely
Platform to track and simplify employee expense claims
Global account for money transfers and multi-currency payments
System for invoice management and vendor payments
Seamless connection with accounting systems like Quickbooks
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Funding Insights of Volopay
Volopay has successfully raised a total of $31.25M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $29 million completed in March 2022. 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 5
- Last Round Series A — $29.0M
- First Round First Round
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Debt – Conventional - Volopay | Valuation |
investors |
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| Mar, 2022 | Amount | Series A - Volopay | Valuation | JAM Fund , Justin Mateen | |
| Jan, 2021 | Amount | Seed - Volopay | Valuation | Justin Mateen |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Volopay
Volopay has secured backing from 18 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Rapyd, VentureSouq and Antler. 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 |
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Angel investments in early-stage ventures are managed by VentureSouq.
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Founded Year | Domain | Location | |
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Early-stage investing and founder support services are offered globally by Antler.
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Founded Year | Domain | Location | |
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Venture capital fund investing in multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Volopay
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Volopay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Volopay Comparisons
Competitors of Volopay
Volopay 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 Intuit, Xero, FreshBooks, Sodexo and Spenmo, 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 |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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| domain | founded_year | HQ Location |
Employee benefits payment cards are provided via an online platform.
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| domain | founded_year | HQ Location |
Cloud-based corporate cards and expense management solutions are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Volopay
Frequently Asked Questions about Volopay
When was Volopay founded?
Volopay was founded in 2020.
Where is Volopay located?
Volopay is headquartered in Singapore, Singapore.
Who is the current CEO of Volopay?
Rajith Shaji is the current CEO of Volopay. They have also founded this company.
Is Volopay a funded company?
Volopay is a funded company, having raised a total of $31.25M across 5 funding rounds to date. The company's 1st funding round was a Seed of $2.1M, raised on Jul 16, 2020.
How many employees does Volopay have?
As of Apr 07, 2024, the latest employee count at Volopay is 103.
What is the annual revenue of Volopay?
Annual revenue of Volopay is $710.88K as on Mar 31, 2023.
What does Volopay do?
Volopay was founded in 2020 in Singapore as a fintech platform focused on spend management. Solutions for bill payments, corporate credit cards, expense approvals, employee reimbursements, accounting automation, and accounts payable are provided. Financial management tools are included to handle business transactions such as subscriptions, travel, advertising, and vendor payouts. Operations are centered in Singapore.
Who are the top competitors of Volopay?
Volopay's top competitors include Intuit, Xero and FreshBooks.
What products or services does Volopay offer?
Volopay offers Corporate Cards, Expense Management, Business Accounts, Accounts Payables, and ERP Integration.
Who are Volopay's investors?
Volopay has 18 investors. Key investors include Rapyd, VentureSouq, Antler, Jitendra Gupta, and Amrish Rau.
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