DPIIT recognised startup Government of India
Startup India
Spay Fintech Private Limited
Spay Fintech Private Limited - financial services in Mumbai, Maharashtra, India. Directors, charges & compliance details.
Revenue · FY 2025
₹40.29 Lakh
▼ 13% YoY
Net profit · FY 2025
₹1.85 Lakh
Net margin 4.6%
EBITDA · FY 2025
₹2 Lakh
EBITDA margin 5%
Authorised capital
₹4.95 Cr
Registered with MCA
Paid-up capital
₹4.95 Cr
Issued & subscribed
Company age
4 yrs
Est. 2022
Directors on board
3
As per MCA filings
Active GSTINs
1
GST registered
About Spay Fintech Private Limited
Data last updated:
Spay Fintech Private Limited is a private limited company based in Mumbai, Maharashtra, India, recognised as a startup by DPIIT. It operates in the online payment gateways segment of the financial services sector. It was incorporated on 19 January 2022.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U66190MH2022PTC375149. Its GSTIN is 27ABHCS6950N1ZL (Maharashtra).
The company has an authorised share capital of ₹4.95 Cr and a paid-up capital of ₹4.95 Cr. It is led by directors including Sharad Kumar Porwal and Onila Jain.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹40.29 Lakh, a decline of 13% compared to the previous year. For the same year it recorded a net profit of ₹1.85 Lakh (net margin 4.6%) and EBITDA of ₹2 Lakh (EBITDA margin 5%).
The company is associated with 1 brand: Spay. Court records list 1 case involving the company, including 1 filed against it.
Company details
CIN U66190MH2022PTC375149
Registration Number 375149
Incorporation Date 19 January 2022
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
DPIIT Recognition Recognised Startup
CIN history
Spay Fintech has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U66190MH2022PTC375149, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U66190MH2022PTC375149 | Current |
| U72900MH2022PTC375149 | Previous |
| U47912MH2022PTC375149 | Previous |
Recognitions & Rankings of Spay Fintech
Contact details
Spay Fintech Private Limited's registered office is in Mumbai, Maharashtra.
- Registered Address316 Bldg No. 9 Laxmi Ind E, New Link Road Near Laxmi Bulding, Mumbai, Maharashtra, India – 400053
- IndustryFinancial Services, Online Payment Gateways
Comprehensive company report
Spay Fintech 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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Business activity
The main business activity of Spay Fintech is financial and insurance activities. In detail, this covers activities auxiliary to financial service and insurance activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance activities | 66 | Activities auxiliary to financial service and insurance activities |
To see the full business activity and turnover split of Spay Fintech Private Limited, buy the company report.
Financials of Spay Fintech Private Limited
FY 2025 filings availableSpay Fintech Private Limited reported revenue of ₹40.29 Lakh (down 13% YoY) for FY 2025.
Revenue · FY 2025
₹40.29 Lakh ▼ 13%
Net profit · FY 2025
₹1.85 Lakh margin 4.6%
EBITDA · FY 2025
₹2 Lakh margin 5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 13%
EBITDA CAGR growth
1 year
▲ 103%
Revenue fell 13% in the latest year. EBITDA rose 103% in the latest 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 |
|---|---|---|---|---|
| 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 | ₹2 Lakh | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | ₹1.85 Lakh | |||
| 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | 5% | |||
| Net Profit Margin | 4.6% | |||
| 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 | ||||
To see the full financial statements and ratios of Spay Fintech Private Limited, buy the company report.
Board of directors of Spay Fintech Private Limited
Spay Fintech has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sharad Kumar Porwal Also directs: Soulful Nidhi Limited, Soulful Overseas Private Limited, Omisha Jewels (OPC) Private Limited and 1 more | Director | 19 Jan 2022 | 4 Years 9 Months | Current |
| Onila Jain Also directs: Soulful Nidhi Limited, Soulful Overseas Private Limited | Director | 19 Jan 2022 | 4 Years 9 Months | Current |
| Kanak Parauha Also directs: Skyknot Ventures (OPC) Private Limited | Director | 14 Jan 2025 | 1 Years 9 Months | Current |
Peer comparison
Spay Fintech Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Fintech, Payment Gateways), with the same principal business activity (activities auxiliary to financial service and insurance activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Aon Fintech Private Limited | ₹41.6 Lakh (FY 2025) | 4.0% | Mumbai, Maharashtra, India | |||
| Ashirbad Fintech Solution Private Limited | ₹41.35 Lakh (FY 2025) | 51.0% | Bhubaneswar, Odisha, India | |||
| Spay Fintech Private Limitedthis company | ₹40.29 Lakh (FY 2025) | ₹1.85 Lakh | 4.6% | -13.0% | Mumbai, Maharashtra, India | |
| Swastik Fintech Private Limited | ₹39.28 Lakh (FY 2025) | 496.0% | Pune, Maharashtra, India |
To see the full peer comparison of Spay Fintech Private Limited, buy the company report.
Legal cases
Spay Fintech Private Limited has 1 court case on record: 1 filed against it. All case is disposed.
Total cases
1
Filed against the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South, Delhi | Commercial suit | Filed against the company by Spay Technology Private Limited | Disposed |
To see the full case history of Spay Fintech 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
No delayed payments to MSME suppliers are on our record for Spay Fintech Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Spay Fintech has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27ABHCS6950N1ZL | Maharashtra | Active | 11 Sep 2022 |
To see the full GST registrations and return filing status of Spay Fintech Private Limited, buy the company report.
Recent activity
Spay Fintech Private Limited has 4 board changes on record since 2022: 3 appointments and 1 cessation. The latest: Kanak Parauha ceased to be Additional Director on 29 Sep 2025.
AGM
Spay Fintech Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Kanak Parauha ceased to be Additional Director.
Filing
Spay Fintech Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Appointed
Kanak Parauha was appointed as Director.
Appointed
Onila Jain was appointed as Director.
Appointed
Sharad Kumar Porwal was appointed as Director.
Incorporation
19 Jan 2022
Spay Fintech Private Limited was registered on 19 Jan 2022 with Roc Mumbai I & aged 4 years 9 months as per MCA records.
Frequently asked questions
Spay Fintech is an active private limited company based in Mumbai, Maharashtra, India. The company works in online payment gateways, within the financial services industry. It was incorporated on 19 January 2022 (4+ years old) and is registered under CIN U66190MH2022PTC375149.
Spay Fintech has 3 current directors:
- Sharad Kumar Porwal - Director
- Onila Jain - Director
- Kanak Parauha - Director
The latest financial statements of Spay Fintech on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2022 are in the company report.
The GSTIN of Spay Fintech is 27ABHCS6950N1ZL, registered in Maharashtra.
The CIN (Corporate Identification Number) of Spay Fintech is U66190MH2022PTC375149. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Spay Fintech has 1 court case on record: 1 filed against it.
Spay Fintech was incorporated on 19 January 2022, making it 4+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Spay Fintech by revenue are Aon Fintech Private Limited, Ashirbad Fintech Solution Private Limited, Swastik Fintech Private Limited, all in the BFSI industry (Fintech, Payment Gateways), with the same principal business activity (activities auxiliary to financial service and insurance activities).
Kanak Parauha ceased to be Additional Director on 29 Sep 2025. Kanak Parauha was appointed as Director on 14 Jan 2025. Onila Jain was appointed as Director on 19 Jan 2022. Spay Fintech has 4 board changes on record in total.
Yes, Spay Fintech is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
The registered office of Spay Fintech is at 316 Bldg No. 9 Laxmi Ind E, New Link Road Near Laxmi Bulding, Mumbai, Maharashtra, India – 400053.
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