About Epifi Technologies Private Limited
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Epifi Technologies Private Limited is a private limited company based in Bangalore, Karnataka, India, recognised as a startup by DPIIT. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 29 May 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U62099KA2019PTC124770. Its GSTIN is 29AAFCE5072N1Z4 (Karnataka).
The company has an authorised share capital of ₹2.29 Cr and a paid-up capital of ₹1.61 Cr. It is led by directors including Sumit Gwalani and Sujith Narayanan Kutty.
Its last annual general meeting (AGM) was held on 15 November 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹76.59 Cr, a growth of 20% compared to the previous year. For the same year it recorded a net loss of ₹253.25 Cr (net margin -330.7%) and EBITDA of -₹238.92 Cr (EBITDA margin -311.9%). Revenue has grown at a compounded annual rate (CAGR) of 292% over three years.
The company has about 307 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Fi Money. As per MCA filings, the company has open charges of ₹5 Lakh on record. Court records list 9 cases involving the company, including 3 filed by the company and 1 filed against it; 1 case is pending. The company has 7 deals on record (4 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹1,122.44 Cr; the latest was in July 2022. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is Npci International Payments Limited with revenue of ₹82.66 Cr. The company has 2 MSME Form 1 returns on record between 2022 and 2024, listing 32 overdue payments to 17 micro and small suppliers.
For more details, the company can be reached via its website fi.money.
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- Registered AddressSalarpuria Sattva Knowledge Court Survey No. 77 Plot No.9 06th Floor Doddenakundi Kr P, Uram Hobli, Bangalore, Karnataka, India – 560048
- IndustryFinancial Services, Digital Payment Solutions
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Business Activity of Epifi Technologies Private Limited
The main business activity of Epifi Technologies is information and communication. In detail, this covers publishing of computer operating systems, system software, application software, games, etc..
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J2 | Publishing of computer operating systems, system software, application software, games, etc. | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Epifi Technologies Private Limited FY 2024 filings available
Epifi Technologies Private Limited reported revenue of ₹76.59 Cr (up 20% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Epifi Technologies Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 292% over three years, including 20% growth in the latest year. EBITDA rose 17% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Epifi Technologies Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹238.92 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹253.25 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Epifi Technologies Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -311.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -330.7% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Epifi Technologies are in the company report.
Financial statements from FY 2020
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Epifi Technologies Private Limited
Epifi Technologies Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Solution Providers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Npci International Payments Limited | ₹82.66 Cr (FY 2025) | •••• | •••• | 56.0% | •••• | Mumbai, Maharashtra, India |
| Mobisafar Services Private Limited | ₹82.62 Cr (FY 2024) | •••• | •••• | 5.0% | •••• | Ludhiana, Punjab, India |
| Billhub Solutions India Private Limited | ₹82.13 Cr (FY 2025) | •••• | •••• | •••• | Orang, Assam, India | |
| Appnit Technologies Private Limited | ₹78.75 Cr (FY 2025) | •••• | •••• | 296.0% | •••• | Noida, Uttar Pradesh, India |
| Nehat Tech Solutions Private Limited | ₹76.76 Cr (FY 2025) | •••• | •••• | -75.0% | •••• | Mumbai, Maharashtra, India |
| Epifi Technologies Private Limited this company | ₹76.59 Cr (FY 2024) | •••• | •••• | 20.0% | •••• | Bangalore, Karnataka, India |
| Sihara Recharge Private Limited | ₹76.48 Cr (FY 2024) | •••• | •••• | 607.0% | •••• | Jaipur, Rajasthan, India |
| Instantpay India Limited | ₹71.92 Cr (FY 2025) | •••• | •••• | -7.0% | •••• | New Delhi, Delhi, India |
| Autope Payment Solutions Limited | ₹63.52 Cr (FY 2025) | •••• | •••• | 19.0% | •••• | Gurgaon, Haryana, India |
| Fastsolutions Fintech Private Limited | ₹60.52 Cr (FY 2025) | •••• | •••• | 462.0% | •••• | Mumbai, Maharashtra, India |
| Yalamanchili Software Exports Private Limited | ₹59.77 Cr (FY 2025) | •••• | •••• | 23.0% | •••• | Chennai, Tamil Nadu, India |
Peers are the five companies nearest above and the five nearest below Epifi Technologies by revenue in the BFSI industry (Payment Solution Providers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Board of Directors of Epifi Technologies Private Limited
Epifi Technologies has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sumit Gwalani Also directs: Workloom Solutions Private Limited, Fi Capital Private Limited, Epifi Wealth Private Limited and 3 more | Director | 29 May 2019 | 7 Years 4 Months | Current |
| Utsav Mitra Also directs: Hampshire House Management LLP, Advanta Enterprises Limited, Mensa Brand Technologies Private Limited and 4 more | Nominee Director | 15 Jul 2024 | 2 Years 3 Months | Current |
| Sujith Narayanan Kutty Also directs: Workloom Solutions Private Limited, Fi Capital Private Limited, Epifi Wealth Private Limited and 4 more | Director | 29 May 2019 | 7 Years 4 Months | Current |
Charges & Borrowings of Epifi Technologies Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 21 Jan 2025 | The Hongkong and Shanghai Banking Corporation Limited | ₹5 Lakh | Open |
Total charge records: 1 View all charges
Deals & Funding of Epifi Technologies Private Limited
Epifi Technologies Private Limited has 7 deals on record (4 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹1,122.44 Cr; the latest was in July 2022.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2022 | Funding round · Series C | ₹568.08 Cr | Investors: Alpha Wave Global, Temasek, B Capital |
| May 2022 | Secondary share transfer | Undisclosed | Buyer: Alpha Wave Global Seller: 4 individuals |
| Apr 2022 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 2 individuals |
| Nov 2021 | Funding round · Series B | ₹370.82 Cr | Investors: GIC Singapore, B Capital, Alpha Wave Global |
| Oct 2019 | Funding round · Series A | ₹95.35 Cr | Investors: Ribbit Capital, Peak XV Partners (Sequoia India and SEA), Hillhouse Capital |
Full deal history
All 7 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Epifi Technologies Private Limited
Epifi Technologies Private Limited has 9 court cases on record: 3 filed by Epifi Technologies, 1 filed against it, 5 where it is another party. 1 case is pending and 8 are disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 7 | 1 | 1 |
| District courts | 2 | 0 | 0 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (CARBP) | Filed against the company by Innofin Solutions Private Limited | Disposed |
| High Court of Rajasthan | Writ petition | Company is another party | Pending |
| High Court of Kerala | Writ petition | Company is another party | Disposed |
| District court, Pune, Maharashtra | Criminal miscellaneous application | Filed by the company against an individual | Disposed |
| High Court of Delhi | Court case (C.O. (COMM.IPD-TM)) | Filed by the company against Formula One Liccensing BV & Anr | Disposed |
Full case history
All 9 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Epifi Technologies Private Limited
Epifi Technologies Private Limited has 2 MSME Form 1 returns on record between 2022 and 2024, listing 32 overdue payments to 17 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 17)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Karza Technologies Private Limited | •••• | •••• | •••• |
| HSCS Mithra Services India Private Limited | •••• | •••• | •••• |
| Firki Wholesale Private Limited | •••• | •••• | •••• |
| Valueleaf Services (India) Private Limited | •••• | •••• | •••• |
| Octavos Enterprise Solutions Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 2 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Epifi Technologies Private Limited
Employment history and EPFO contributions of people linked to Epifi Technologies.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
CIN History of Epifi Technologies Private Limited
Epifi Technologies has one previous CIN (Corporate Identification Number): U72900KA2019PTC124770. The current CIN is U62099KA2019PTC124770, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U62099KA2019PTC124770 | Current |
| U72900KA2019PTC124770 | Previous |
Recent Activity on Epifi Technologies Private Limited
Epifi Technologies Private Limited has 6 board changes on record since 2019: 3 appointments and 3 cessations. The latest: Shailesh Lakhani ceased to be Director on 22 Aug 2025.
Credit Ratings, Litigation & Regulatory Alerts for Epifi Technologies Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Epifi Technologies Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Epifi Technologies Private Limited
Epifi Technologies has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCE5072N1Z4 | Karnataka | Active | 30 Jul 2019 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Epifi Technologies Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
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Related news about Epifi Technologies Private Limited
Frequently Asked Questions about Epifi Technologies Private Limited
Epifi Technologies is an active private limited company based in Bangalore, Karnataka, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 29 May 2019 (7+ years old) and is registered under CIN U62099KA2019PTC124770.
Epifi Technologies reported revenue of ₹76.59 Cr for FY 2024 (up 20% YoY).
Epifi Technologies has 3 current directors:
- Sumit Gwalani - Director
- Utsav Mitra - Nominee Director
- Sujith Narayanan Kutty - Director
Epifi Technologies reported a net loss of ₹253.25 Cr (net margin -330.7%) and EBITDA of -₹238.92 Cr (EBITDA margin -311.9%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Epifi Technologies is 292% over three years. In the latest year (FY 2024) revenue rose 20%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Epifi Technologies is 29AAFCE5072N1Z4, registered in Karnataka.
The CIN (Corporate Identification Number) of Epifi Technologies is U62099KA2019PTC124770. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Epifi Technologies has 9 court cases on record: 3 filed by the company and 1 filed against it. 1 is pending. Most are in the high courts.
Epifi Technologies was incorporated on 29 May 2019, making it 7+ years old. It is registered with the Registrar of Companies, Bangalore.
Epifi Technologies has 7 deals on record (4 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹1,122.44 Cr; the latest was in July 2022.
The peers of Epifi Technologies by revenue are Npci International Payments Limited, Mobisafar Services Private Limited, Billhub Solutions India Private Limited, Appnit Technologies Private Limited, Nehat Tech Solutions Private Limited and 5 more, all in the BFSI industry (Payment Solution Providers).
Shailesh Lakhani ceased to be Director on 22 Aug 2025. Meyer Malka ceased to be Director on 22 May 2025. Utsav Mitra was appointed as Nominee Director on 15 Jul 2024. Epifi Technologies has 6 board changes on record in total.