About Paymate India Limited
Data last updated:
Paymate India Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the financial services and investment segment of the financial services sector. It was incorporated on 12 May 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U62090MH2006PLC205023. Its GSTIN is 27AAECP0062G1ZP (Maharashtra).
The company has an authorised share capital of ₹205.66 Cr and a paid-up capital of ₹189.77 Cr. It was formerly known as Paymate India Private Limited. It is led by directors including Ajay Adiseshann (Managing Director) and Vishvanathan Subramanian (Whole-Time Director).
Its last annual general meeting (AGM) was held on 31 October 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at No.111 1st Floor 'A' Wing Sundervilla S.V.Road Santacruz (West), Mumbai, Maharashtra, India – 400054.
As per the financials filed for FY 2024, the company reported a revenue of ₹1,344.01 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net loss of ₹48.86 Cr (net margin -3.6%) and EBITDA of -₹46.5 Cr (EBITDA margin -3.5%).
The company has about 88 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Dunomo and PayMate. As per MCA filings, the company has satisfied charges of ₹1.26 Cr on record. Court records list 10 cases involving the company, including 3 filed by the company and 7 filed against it; 3 cases are pending. The company has 27 deals on record (21 funding rounds, 6 secondary share transfers), with disclosed funding of ₹269.9 Cr; the latest was in November 2024. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is Resilient Innovations Private Limited with revenue of ₹1,733.6 Cr. The company has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 21 overdue payments to 6 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website paymate.in.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
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- Registered AddressNo.111 1st Floor 'A' Wing Sundervilla S.V.Road Santacruz (West), Mumbai, Maharashtra, India – 400054
- IndustryFinancial Services, Financial Activities
- 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
- One PDF report, delivered after checkout
Business Activity of Paymate India Limited
The main business activity of Paymate India is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | 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 Paymate India Limited FY 2024 filings available
Paymate India Limited reported revenue of ₹1,344.01 Cr (down 1% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Paymate India Limited
Revenue fell 1% in the latest year. EBITDA rose 12% in the latest year. All are worked out from the filed statements.
Financial Statement Summary of Paymate India 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 | -₹46.5 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹48.86 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 Paymate India Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -3.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -3.6% | •••• | •••• | •••• | •••• |
| 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 Paymate India are in the company report.
Financial statements from 2015
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 Paymate India Limited
Paymate India 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 |
|---|---|---|---|---|---|---|
| Resilient Innovations Private Limited | ₹1,733.6 Cr (FY 2025) | •••• | •••• | 17.0% | •••• | New Delhi, Delhi, India |
| Google India Digital Services Private Limited | ₹1,547.1 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | New Delhi, Delhi, India |
| Jaksh Digital Services Private Limited | ₹1,539.47 Cr (FY 2025) | •••• | •••• | 141.0% | •••• | Surat, Gujarat, India |
| Seshaasai Technologies Limited | ₹1,473.62 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Mumbai, Maharashtra, India |
| Pine Labs Limited. | ₹1,383.7 Cr (FY 2024) | •••• | •••• | 4.0% | •••• | Gurgaon, Haryana, India |
| Paymate India Limited this company | ₹1,344.01 Cr (FY 2024) | •••• | •••• | -1.0% | •••• | Mumbai, Maharashtra, India |
| One Mobikwik Systems Limited | ₹1,192.49 Cr (FY 2025) | •••• | •••• | 34.0% | •••• | Gurugram, Haryana, India |
| Paypal Payments Private Limited | ₹923.45 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Mumbai, Maharashtra, India |
| Financial Software and Systems Private Limited | ₹894.66 Cr (FY 2025) | •••• | •••• | -9.0% | •••• | Chennai, Tamil Nadu, India |
| Truehost IT Services Private Limited | ₹819.66 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | Thane, Maharashtra, India |
| Worldline Epayments India Private Limited | ₹726.43 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Paymate India 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.
Auditor Details of Paymate India Limited
Paymate India Limited is audited by MSKA & Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| MSKA & Associates | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Paymate India Limited
Paymate India has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandeep Murthy Also directs: Godrej Industries Limited, House of Kieraya Limited, Future E-Commerce Infrastructure Limited and 5 more | Nominee Director | 16 Nov 2006 | 19 Years 11 Months | Current |
| Ajay Adiseshann | Managing Director | 12 May 2006 | 20 Years 5 Months | Current |
| Vishvanathan Subramanian Also directs: Bloom Venture 1 LLP, Paymate B2b Private Limited | Whole-Time Director | 08 Mar 2018 | 8 Years 7 Months | Current |
Ownership and Shareholding of Paymate India Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Paymate India Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 17 Jun 2021 | Others | ₹25 Lakh | Satisfied |
| 13 Jun 2011 | Corporation Bank | ₹41.07 Lakh | Satisfied |
| 16 Mar 2011 | Indian Overseas Bank | ₹60 Lakh | Satisfied |
Total charge records: 3 View all charges
Deals & Funding of Paymate India Limited
Paymate India Limited has 27 deals on record (21 funding rounds, 6 secondary share transfers), with disclosed funding of ₹269.9 Cr; the latest was in November 2024.
Deals on record (5 of 27)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2024 | Funding round · Series F | ₹8 Cr | Investors: Manah Family Corpus LLP |
| Jul 2024 | Funding round | ₹8.86 Cr | Investors: 3 individuals |
| May 2024 | Funding round · Series F | ₹7.21 Cr | Investors: 4 individuals |
| Oct 2023 | Funding round | ₹4.16 Cr | Investors: CXI Valley I LLC |
| Feb 2023 | Funding round | ₹21.56 Cr | Investors: Cxi Valley I Llc, Caress Beauty Care Products Private Limited , Clarion Cosmetics Private Limited |
Full deal history
All 27 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 Paymate India Limited
Paymate India Limited has 10 court cases on record: 3 filed by Paymate India, 7 filed against it. 3 cases are pending and 7 are disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 7 | 6 | 3 |
| High courts | 3 | 1 | 0 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, New Delhi, Delhi | Court case (OMP (MISC.) (COMM.)) | Filed against the company by 91 Springboard Business Hub Private Limited | Disposed |
| High Court of Delhi | Arbitration matter | Filed against the company by 91 Springboard Business Hub Private Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Cases SS) | Filed by the company against N-Tel Marketing and Services Private Limited | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Appln.PGA) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Appln.IDA) | Filed against the company by an individual | Pending |
Full case history
All 10 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 Paymate India Limited
Paymate India Limited has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 21 overdue payments to 6 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 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Karix Mobile Private Limited | •••• | •••• | •••• |
| Greytip Software Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Globalplay Media Technologies Private Limited | •••• | •••• | •••• |
| Secur Credentials Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 1 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.
Associated Brands with Paymate India Limited
Paymate India operates two associated brands: Dunomo and PayMate. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides effortless B2B payment platforms including accounts payable and receivable. | dunomo.au | |
| B2B payment automation and supply chain finance solutions are provided. | paymate.in |
Employees and EPFO Compliance at Paymate India Limited
Paymate India Limited has a workforce of 88 employees as of Mar 29, 2024.
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 Paymate India Limited
Paymate India has 3 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U62090MH2006PLC205023, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U62090MH2006PLC205023 | Current |
| U72200TN2006PTC059821 | Previous |
| U72200MH2006PLC205023 | Previous |
| U72200MH2006PTC205023 | Previous |
Recent Activity on Paymate India Limited
Paymate India Limited has 13 board changes on record since 2006: 3 appointments and 10 cessations. The latest: Kevin Christopher Phalen ceased to be Director on 23 Jul 2025.
10 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Paymate India 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 Paymate India 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 Paymate India Limited
Paymate India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECP0062G1ZP | Maharashtra | Active | 01 Jul 2017 |
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 Paymate India 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
Verified entity values are shown only after access is granted.
Related news about Paymate India Limited
Frequently Asked Questions about Paymate India Limited
Paymate India is an active public limited company based in Mumbai, Maharashtra, India. The company works in financial activities, within the financial services industry. It was incorporated on 12 May 2006 (20+ years old) and is registered under CIN U62090MH2006PLC205023.
Paymate India reported revenue of ₹1,344.01 Cr for FY 2024 (down 1% YoY).
Paymate India has 3 current directors:
- Ajay Adiseshann - Managing Director
- Vishvanathan Subramanian - Whole-Time Director
- Sandeep Murthy - Nominee Director
Paymate India reported a net loss of ₹48.86 Cr (net margin -3.6%) and EBITDA of -₹46.5 Cr (EBITDA margin -3.5%) for FY 2024, as per its filed financial statements.
The GSTIN of Paymate India is 27AAECP0062G1ZP, registered in Maharashtra.
The CIN (Corporate Identification Number) of Paymate India is U62090MH2006PLC205023. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Paymate India has 10 court cases on record: 3 filed by the company and 7 filed against it. 3 are pending. Most are in the district courts.
Paymate India was incorporated on 12 May 2006, making it 20+ years old. It is registered with the Registrar of Companies, Mumbai.
Paymate India has 27 deals on record (21 funding rounds, 6 secondary share transfers), with disclosed funding of ₹269.9 Cr; the latest was in November 2024.
The peers of Paymate India by revenue are Resilient Innovations Private Limited, Google India Digital Services Private Limited, Jaksh Digital Services Private Limited, Seshaasai Technologies Limited, Pine Labs Limited. and 5 more, all in the BFSI industry (Payment Solution Providers).
Kevin Christopher Phalen ceased to be Director on 23 Jul 2025. Ashimkumar Jaswantkumar Banerjee ceased to be Additional Director on 07 Mar 2022. Monica Doshi Niranjan ceased to be Additional Director on 07 Mar 2022. Paymate India has 13 board changes on record in total.
Paymate India has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 21 overdue payments to 6 micro and small suppliers. The latest return was filed on 12 Nov 2022.