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Open Financial Technologies Private Limited - internet in Bengaluru, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹58.14 Cr
▲ 26% YoY
Net loss · FY 2025
₹108.87 Cr
Net margin -187.2%
EBITDA · FY 2025
-₹96.31 Cr
EBITDA margin -165.7%
Authorised capital
₹35 Lakh
Registered with MCA
Paid-up capital
₹28.72 Lakh
Issued & subscribed
Satisfied charges
₹46.04 Cr
No open charges
Company age
9 yrs
Est. 2017
Employees · EPFO
373
Provident fund records
About Open Financial Technologies Private Limited
Data last updated:
Open Financial Technologies Private Limited is a private limited company based in Bengaluru, Karnataka, India, recognised as a startup by DPIIT. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 19 May 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U67200KA2017PTC166507. Its GSTIN is 29AACCO5024H1ZI (Karnataka).
The company has an authorised share capital of ₹35 Lakh and a paid-up capital of ₹28.72 Lakh. It is led by directors including Mabel Annie Chacko and Anish Achuthan.
Its last annual general meeting (AGM) was held on 08 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 3rd Floor Tower 2 Rga Tech Park 18 Sarjapur Road Carmelaram Hadosiddapura Doddakannelli, Bengaluru, Karnataka, India – 560035.
As per the financials filed for FY 2025, the company reported a revenue of ₹58.14 Cr, a growth of 26% compared to the previous year. For the same year it recorded a net loss of ₹108.87 Cr (net margin -187.2%) and EBITDA of -₹96.31 Cr (EBITDA margin -165.7%). Revenue has grown at a compounded annual rate (CAGR) of 13% over three years and 46% over five years.
The company has about 373 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries and 1 joint venture.
The company is associated with 7 brands, including Finin, Zwitch, Open Financial Technologies, OpenAI, Open and others. As per MCA filings, the company has satisfied charges of ₹46.04 Cr on record. Court records list 20 cases involving the company, including 11 filed by the company and 9 filed against it; 5 cases are pending. The company has 19 deals on record (12 funding rounds, 5 secondary share transfers, 2 debt financings), with disclosed funding of ₹1,029.2 Cr; the latest was in June 2023. The company has 6 MSME Form 1 returns on record between 2020 and 2024, listing 18 overdue payments to 4 micro and small suppliers.
Open Financial Technologies Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0213507). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website open.money.
Company details
CIN U67200KA2017PTC166507
Registration Number 166507
Incorporation Date 19 May 2017
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 08 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Small
Udyam Registration UDYAM-KR-03-0213507
CIN history
Open Financial Technologies has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U67200KA2017PTC166507, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67200KA2017PTC166507 | Current |
| U67200KA2017PTC103102 | Previous |
| U67200KL2017PTC054626 | Previous |
Recognitions & Rankings of Open Financial Technologies
MSME (Udyam registered) Ministry of MSME
- Category
- Small (2022-23)
- Udyam number
- UDYAM-KR-03-0213507
Contact details
Open Financial Technologies Private Limited's registered office is in Bengaluru, Karnataka. Its website is open.money. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address3rd Floor Tower 2 Rga Tech Park 18 Sarjapur Road Carmelaram Hadosiddapura Doddakannelli, Bengaluru, Karnataka, India – 560035
- IndustryInternet, Online Financial Services
To see the full contact details of Open Financial Technologies Private Limited, buy the company report.
Comprehensive company report
Open Financial Technologies Private Limited - one report that includes everything
- 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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Brands
Open Financial Technologies operates multiple associated brands including Finin, Zwitch, and Open Financial Technologies. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Digital bank for Individuals | finin.in | |
| API-enabled banking software suite is provided for financial institutions. | zwitch.io | |
| OpenAI is engaged in developing advanced artificial intelligence technologies. | openai.com | |
| A platform is operated for streamlining business payments and invoicing. | open.money | |
| Digital banking solutions are provided by BANKINGSTACK for financial institutions. | bankingstack.com | |
| Unsecured business loans are offered for business expansion needs. | opencapital.co.in | |
| GST return filing and reporting tool for tax professionals | open.accountant |
Business activity
The main business activity of Open Financial Technologies is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Open Financial Technologies Private Limited, buy the company report.
Financials of Open Financial Technologies Private Limited
FY 2025 filings availableOpen Financial Technologies Private Limited reported revenue of ₹58.14 Cr (up 26% YoY) for FY 2025.
Revenue · FY 2025
₹58.14 Cr ▲ 26%
Net loss · FY 2025
₹108.87 Cr margin -187.2%
EBITDA · FY 2025
-₹96.31 Cr margin -165.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 26%
3 years · compounded
▲ 13%
5 years · compounded
▲ 46%
EBITDA CAGR growth
1 year
▲ 33%
3 years · compounded
▲ 25%
5 years · compounded
▼ 19%
Revenue has grown at a compounded annual rate (CAGR) of 46% over five years, including 26% growth in the latest year. EBITDA rose 33% 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹96.31 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹108.87 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -165.7% | ||||
| Net Profit Margin | -187.2% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Open Financial Technologies Private Limited, buy the company report.
Board of directors and KMP of Open Financial Technologies Private Limited
Open Financial Technologies Private Limited currently reports 5 directors and 1 key managerial person. 5 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mabel Annie Chacko Also directs: Dinero Innovations Private Limited, Opendigi Technologies Private Limited, Brail.Io Technologies Private Limited and 1 more | Director | 22 Sep 2021 | 5 Years 1 Months | Current |
| Anish Achuthan | Director | 27 Aug 2018 | 8 Years 1 Months | Current |
| Ajeesh Achuthan | Director | 17 Oct 2017 | 9 Years 0 Months | Current |
| Bhaskar Majumdar Also directs: Unicorn India Ventures Advisors LLP, Unicorn India Ventures Services LLP, Orbitaid Aerospace Private Limited and 5 more | Nominee Director | 20 Apr 2019 | 7 Years 6 Months | Current |
| Mohit Naresh Bhandari | Nominee Director | 04 Apr 2022 | 4 Years 6 Months | Current |
| Deena Jacob Also directs: Dinero Innovations Private Limited, Opendigi Technologies Private Limited, Brail.Io Technologies Private Limited and 1 more | Cfo | 15 May 2018 | 8 Years 5 Months | Current |
Auditor
Open Financial Technologies Private Limited is audited by S R Batliboi & Associates & LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R Batliboi & Associates & LLP | FY 2024 | 101049W/E300004 |
Shareholding
The shareholding of Open Financial Technologies Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Open Financial Technologies Private Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹46.04 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Nov 2022 | 100670181 | Hdfc Bank Limited | ₹94.69 Lakh | Satisfied | |
| 17 Nov 2021 | 100521476 | Hdfc Bank Limited | ₹1.09 Cr | Satisfied | |
| 17 May 2021 | 100456634 | Others | ₹44 Cr | Satisfied |
To see the full charge records of Open Financial Technologies Private Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Open Financial Technologies Private Limited has 19 deals on record (12 funding rounds, 5 secondary share transfers, 2 debt financings), with disclosed funding of ₹1,029.2 Cr; the latest was in June 2023.
Total deals
19
Funding rounds
12
Secondary share transfers
5
Debt financings
2
Disclosed funding
₹1,029.2 Cr
Deals on record (5 of 19)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Apr 2022 | Secondary share transfer | Undisclosed | Buyer: Unicorn India Ventures Seller: 4 individuals |
| Dec 2021 | Debt financing | ₹22 Cr | Investors: Trifecta Capital |
| Sep 2021 | Funding round · Series C | ₹528.74 Cr | Investors: Temasek, Google International LLC, SBI Investment |
| May 2019 | Funding round | ₹30,000 | Investors: Icici Bank Limited |
To see the full deal history of Open Financial Technologies Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Open Financial Technologies Private Limited has 20 court cases on record: 11 filed by Open Financial Technologies, 9 filed against it. 5 cases are pending and 15 are disposed.
Total cases
20
Filed by the company
11
Filed against the company
9
Pending
5
Disposed
15
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 13 | 9 | 4 |
| District courts | 7 | 0 | 1 |
Cases on record (5 of 20)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against Acviss Technologies Private Limited and 1 other | Pending |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against M/S Nanosecond Technologies Pvt Ltd | Pending |
| Bombay High Court | Court case (CARBP) | Filed against the company by Searce Cosourcing Services Pvt Ltd | Disposed |
| High Court, TELANGANA | Court case (COMCA) | Filed against the company by M/S. Wegofin Digital Solutions Private Limited | Disposed |
| High Court, KARNATAKA | Court case (MFA) | Filed against the company by Nanosecond Technologies Private Limited | Disposed |
To see the full case history of Open Financial Technologies Private Limited, buy the company report.
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
Open Financial Technologies Private Limited has 6 MSME Form 1 returns on record between 2020 and 2024, listing 18 overdue payments to 4 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 (4 of 4)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Perfios Software Solutions Private Limited | |||
| Karza Technologies Private Limited | |||
| Design Arc Interiors | |||
| Betterment Consumertech Private Limited |
To see the full MSME payment records of Open Financial Technologies Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Open Financial Technologies has 4 subsidiary companies and 1 joint venture. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
4
Subsidiary companies
1
Joint ventures
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Dinero Innovations Private Limited | U65990TG2019PTC132796 | |
| Opendigi Technologies Private Limited | U72900KA2019PTC120532 | |
| Brail.Lo Technologies Private Limited | U72900KA2021PTC154377 | |
| Zwitch Technologies Private Limited | U74999KA2021PTC154381 |
To see the full group structure of Open Financial Technologies Private Limited, buy the company report.
Employees & EPFO
Open Financial Technologies Private Limited has a workforce of 373 employees on its EPFO records as of Jan 13, 2025, across 1 active EPFO establishment.
Employee count
373
Active EPFO establishments
1
Employee growth
-11.61%
GST
Open Financial Technologies has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCO5024H1ZI | Karnataka | Active | 07 Sep 2017 |
To see the full GST registrations and return filing status of Open Financial Technologies Private Limited, buy the company report.
Recent activity
Open Financial Technologies Private Limited has 11 board changes on record since 2017: 6 appointments and 5 cessations. The latest: Mohit Naresh Bhandari was appointed as Nominee Director on 04 Apr 2022.
AGM
Open Financial Technologies Private Limited last Annual general meeting of members was held on 08 Sep 2025 as per latest MCA records.
Filing
Open Financial Technologies Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge registered on 17 May 2021 via Charge ID 100456634 with Others was fully satisfied on 13 Jun 2024.
Charges
A charge registered on 17 Nov 2021 via Charge ID 100521476 with Hdfc Bank Limited was fully satisfied on 19 Mar 2024.
Charges
A charge registered on 21 Nov 2022 via Charge ID 100670181 with Hdfc Bank Limited was fully satisfied on 18 Feb 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 94.69 Lakh with Charge ID 100670181 was registered on 21 Nov 2022.
Appointed
Mohit Naresh Bhandari was appointed as Nominee Director.
Charges
A charge with Others of Rs. 4,400.00 Lakh registered on 17 May 2021 with Charge ID 100456634 was modified on 08 Dec 2021.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 109.24 Lakh with Charge ID 100521476 was registered on 17 Nov 2021.
Appointed
Mabel Annie Chacko was appointed as Director.
Charges
A charge with Others amounted to Rs. 4,400.00 Lakh with Charge ID 100456634 was registered on 17 May 2021.
Appointed
Bhaskar Majumdar was appointed as Nominee Director.
9 earlier events are in the company report.
News
Frequently asked questions
Open Financial Technologies is an active private limited company based in Bengaluru, Karnataka, India. The company works in online financial services, within the internet industry. It was incorporated on 19 May 2017 (9+ years old) and is registered under CIN U67200KA2017PTC166507.
Open Financial Technologies has 6 current directors and KMP:
- Mabel Annie Chacko - Director
- Anish Achuthan - Director
- Ajeesh Achuthan - Director
- Bhaskar Majumdar - Nominee Director
- Mohit Naresh Bhandari - Nominee Director
- Deena Jacob - Cfo
The latest financial statements of Open Financial Technologies on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 08 September 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of Open Financial Technologies is 29AACCO5024H1ZI, registered in Karnataka.
The CIN (Corporate Identification Number) of Open Financial Technologies is U67200KA2017PTC166507. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Open Financial Technologies has 20 court cases on record: 11 filed by the company and 9 filed against it. 5 are pending. Most are in the high courts.
Open Financial Technologies was incorporated on 19 May 2017, making it 9+ years old. It is registered with the Registrar of Companies, Bangalore.
Open Financial Technologies has 19 deals on record (12 funding rounds, 5 secondary share transfers, 2 debt financings), with disclosed funding of ₹1,029.2 Cr; the latest was in June 2023.
Mohit Naresh Bhandari was appointed as Nominee Director on 04 Apr 2022. Mabel Annie Chacko was appointed as Director on 22 Sep 2021. Bhaskar Majumdar was appointed as Nominee Director on 20 Apr 2019. Open Financial Technologies has 11 board changes on record in total.
Yes, Open Financial Technologies is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, Open Financial Technologies is registered as a small enterprise under Udyam registration (number: UDYAM-KR-03-0213507).