# Fampay Solutions Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fampay-solutions-private

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.fampay.in
- Total disclosed funding: $43M
- Latest round: Series A (Jun 16, 2021)
- Investors on record: 10

## About

Founded in 2019 and based in Karnataka, India, Fampay Solutions Private Limited, also known as Fam and formerly known as FamPay, operates as a financial service provider that provides prepaid card payment solutions. The company was founded by Kush Taneja, Sambhav Jain, Harjot Singh Oberai, Aayush Gupta, Chirag Maheshwari, and Anchit Shukla. In June 2021, FamPay Inc. raised USD 38 million in series A funding co-led by Sequoia Capital, Elevation Capital, General Catalyst Partners, and Global Founders Capital.

FamPay offers FamApp, a mobile payment application for teenagers (below 18 years of age). The firm also offers FamX, an online financial technology platform that enables teenagers and minors to get a prepaid debit card without the need to set up a bank account by linking so that they can make online and offline payments. The firm’s product line includes the FamX card, a numberless card that provides features like secure payments with tap and pay, ATM withdrawals, and in-store purchases.

The company generates revenue by offering its services on a subscription-based pricing plan. The plans include classic, plus, and ultra.

## Funding rounds

- Series A, Jun 16, 2021, $38M — Hong Shan, General Catalyst Partners, Greenoaks Capital, Y Combinator, Global Founders Capital, Elevation Capital, General Catalyst India, Rocketship.vc
- Seed, Mar 12, 2020, $4.7M — Hong Shan, Y Combinator, Global Founders Capital, Soma Capital Management, General Catalyst India
- Seed, Jul 1, 2019 — Pioneer Fund

## Investors

- Pioneer Fund (https://capitalatlas.ai/funds/pioneer-fund) — Seed
- Hong Shan — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- General Catalyst India (https://capitalatlas.ai/funds/general-catalyst-india) — Seed, Series A
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series A
- Greenoaks Capital (https://capitalatlas.ai/funds/greenoaks-capital) — Series A
- Elevation Capital — Series A
- Rocketship.vc (https://capitalatlas.ai/funds/rocketship-vc) — Series A