# Nehat Tech Solutions Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nehat-tech-solutions-pvt

- Industry: Internet
- Headquarters: Mumbai, India
- Website: www.enkash.com
- Total disclosed funding: $23M
- Latest round: Series B (Apr 4, 2022)
- Investors on record: 5

## About

Nehat Tech Solutions Pvt. Ltd. is an innovative spend management and payments platform that enhances financial operations for businesses through technology-driven solutions and services.Founded in 2017 in Mumbai, India, Nehat Tech Solutions Pvt. Ltd. focuses on providing efficient spend management solutions aimed at businesses. The company has successfully completed 3 deals to date, with the latest funding round being a Series B in April 2022, where it raised USD 20.00 mn led by Ascent Capital. The founding team includes Hemant Vishnoi, Naveen Bindal, Ravi Mathur, and Yadvendra Tyagi, bringing extensive experience in the technology and finance sectors.EnKash operates as a comprehensive spend management and payments platform, offering a suite of products designed to streamline financial operations for businesses. Its core offerings include a modern payment gateway that supports multiple transaction methods, including cards, net banking, and UPI, facilitating both standalone and recurring payments. The platform also features expense management tools that allow businesses to efficiently track and optimize expenditures across various departments, enhancing budgeting processes. EnKash’s corporate credit card solutions provide companies with tailored spending options that offer real-time tracking and integration with existing financial systems. Furthermore, the firm provides prepaid cards for a variety of use cases such as employee perks and project expenses, along with a rewards program that incentivizes performance and engagement. The platform serves over 250,000 businesses primarily in India, focusing on sectors that require efficient financial management and control.In 2023, EnKash reported a revenue of USD 23,823,568.20 with an EBITDA of USD -4,931,916.80. The company generates revenue through diverse transaction structures, including subscription models for its payment gateway and expense management tools, alongside transaction fees from payment processing and card issuance, supporting small to medium-sized enterprises in managing their financial operations effectively.Following the Series B funding round in April 2022, Nehat Tech Solutions Pvt. Ltd. plans to utilize the USD 20.00 mn raised to enhance its banking-as-a-service offerings, expand its card issuance capabilities, and grow its geographical presence. The company aims to introduce new products that support these initiatives, targeting specific markets for expansion to broaden its customer base.

## Funding rounds

- Series B, Apr 4, 2022, $20M — Mayfield Fund, Baring Private Equity Partners, Ascent Capital, Axilor Ventures, White Venture Capital
- Series A, Apr 18, 2019, $2.5M — Mayfield Fund, Axilor Ventures

## Investors

- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series A, Series B
- Axilor Ventures (https://capitalatlas.ai/funds/axilor-ventures) — Series A, Series B
- Baring Private Equity Partners — Series B
- Ascent Capital (https://capitalatlas.ai/funds/ascent-capital) — Series B
- White Venture Capital (https://capitalatlas.ai/funds/white-venture-capital) — Series B