# PayMate India Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paymate-india-private

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.paymate.in
- Total disclosed funding: $37M
- Latest round: Series D (Jul 22, 2019)
- Investors on record: 7

## About

PayMate India Private Limited is a digital payment solutions provider, specializing in payment processing to facilitate efficient transactions for businesses across various sectors in India.Founded in 2006 and headquartered in Mumbai, India, PayMate India Private Limited operates a payment processing platform that caters to small and medium-sized enterprises (SMEs) as well as larger corporations. The company has undergone no significant pivots in its business strategy. It has successfully raised a total of INR 298.578 mn across multiple funding rounds, with the latest round being in 2023, backed by investors Astor Investment Management and Felicitas Global Partners. The company's current valuation stands at INR 79,428.995 mn. The founder's history is not extensively documented, and no subsidiaries or parent companies are mentioned.PayMate offers a comprehensive suite of digital payment solutions designed to facilitate seamless transactions for businesses. Their core product includes a payment processing platform that efficiently manages online payments, integrating with existing accounting and ERP systems. This service is primarily utilized in markets such as India, supporting sectors like retail, e-commerce, and services with mobile payment solutions and payment gateway services.For the most recent fiscal year 2023, PayMate generated revenue of INR 168,222,489.3. The company employs a transaction-based revenue model, charging processing fees for transactions executed through its platform and subscription fees for premium services. This structure supports both B2B and direct-to-consumer segments, allowing clients to select service levels that align with their operational requirements.PayMate plans to introduce new products aimed at enhancing its digital payment capabilities, expanding into specific markets in India to address growing demand. Recent funding of INR 298.578 mn will be utilized to support these initiatives. The company has seen exits from investors like Kleiner Perkins Caufield Byers and Sherpalo, indicating a strategic focus on scaling operations and enhancing service offerings.

## Funding rounds

- Series D, Jul 22, 2019, $25M — Brand Capital, Visa Inc., Recruit Strategic Partners, Mayfair 101
- Series C, May 6, 2018, $2.5M — Mayfair 101
- Series B, May 1, 2008, $9M — Kleiner Perkins, Mayfield Fund, Sherpalo Ventures

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B
- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series B
- Sherpalo Ventures (https://capitalatlas.ai/funds/sherpalo-ventures) — Series B
- Mayfair 101 (https://capitalatlas.ai/funds/mayfair-101) — Series C, Series D
- Brand Capital (https://capitalatlas.ai/funds/brand-capital) — Series D
- Visa Inc. — Series D
- Recruit Strategic Partners (https://capitalatlas.ai/funds/recruit-strategic-partners) — Series D