# FortunePay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fortunepay

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.fortunepay.in
- Total disclosed funding: $1.3M
- Latest round: Angel (Jun 5, 2014)
- Investors on record: 4

## About

FortunePay is an Indian fintech company specializing in payment solutions that facilitate seamless transactions for businesses across various sectors. Their innovative platform enhances payment processing efficiency and security for clients.Founded in 2011 in Bangalore, India, FortunePay focuses on providing payment solutions for businesses. The company raised INR 9.51 mn in venture funding from Ezetap Mobile Solutions Pvt. Ltd. in September 2016. The founder, Shashidhar Puttashamaiah, has a history of entrepreneurship, although specific information about other companies he has founded is not available. FortunePay has successfully completed four deals to date, with a current valuation of INR 30.094 mn.FortunePay offers a range of payment solutions designed to optimize transaction processes for businesses. Their platform is tailored to meet the needs of various industries by providing efficient and secure payment processing capabilities. The services are aimed at enhancing user experience, enabling businesses to handle transactions smoothly while ensuring the safety of sensitive payment data. FortunePay caters to a diverse clientele, including small startups and large enterprises, enhancing their operations across different sectors.For the year 2015, FortunePay reported a revenue of INR 4,959.6 mn. The company’s revenue generation model includes a combination of commercial support and subscription services, providing clients with tailored solutions to meet their operational requirements. Although the company reported an EBITDA of -INR 274,648.6 for the same year, their focus remains on refining their offerings to drive future growth.FortunePay intends to leverage recent funding to enhance its product offerings and expand into new markets. Following the latest funding round in September 2016, the company aims to introduce new features to its platform that will improve transaction efficiency. Additionally, they plan to explore opportunities in international markets, particularly in regions where digital payments are on the rise, by the end of 2017.

## Funding rounds

- Angel, Jun 5, 2014, $1M — Mumbai Angels, Kae Capital, GrowX Ventures
- Series A, Oct 19, 2013, $0.1M — Kae Capital
- Series A, Jul 12, 2012, $0.2M — Bessemer Venture Partners, Kae Capital

## Investors

- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series A
- Kae Capital (https://capitalatlas.ai/funds/kae-capital) — Series A, Angel
- Mumbai Angels (https://capitalatlas.ai/funds/mumbai-angels) — Angel
- GrowX Ventures (https://capitalatlas.ai/funds/growx-ventures) — Angel