PaySense

lendingother lending

STATUS: Acquired/Merged
FOUNDING YEAR: 2015
LOCATION: India
Last Update: 17/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

PaySense is a mobile-based platform that offers a line of credit service for online/offline purchases to Indian consumers. It offers affordable EMI plans for retail purchases and provides credit line up to 1 lakh. PaySense integrates with India Stack to make online documentation and e-KYC process easier and simple for consumers and also helps to receive immediate approval for their credit requests. The service is available in nine major cities including Mumbai, Delhi-NCR, Bengaluru, and Chennai, with plans to go pan-India soon.

Watch

How the O-to-O-to-O Model is Changing India's Credit Landscape

Focus

PRODUCTS & SERVICES

Online/mobile-based line-of-credit service for retail consumers. PaySense Credit helps users gain access to a line of credit to quickly gain access to EMI based on past purchases or future purchase intent.

REVENUE MODEL

The company follows interest-based revenue model.

MAIN CLIENTS

Small and medium businesses & Retail borrowers

EXISTING PARTNERSHIPS

Partnership with IIFL lender to receive loan support to the customers.

COMMENT

PaySense specializes in using advanced data sciences to provide frictionless checkout experiences on mobile commerce platforms.

Traction

ACTIVE USERS COMMENT:

PaySense has 180,000 users and has disbursed loans worth Rs. 30 crore in partnership with a non-banking financial company. It also claims that 60% of its users are repeat customers. (May 2017)

People

FOUNDERS

Sayli Karanjkar

Prashanth Ranganathan

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Jungle Ventures

Naspers

Nexus Venture Partners

PayU

Prosus & Naspers

rocketship.vc

KEY EMPLOYEES:

Prashanth Ranganathan (CEO)

Sayli Karanjkar (COO)

Paul Meinshausen

Momentum

FUNDED

YES

TOTAL FUNDING

$25.6 M

DATE OF LAST FUNDING

Jul 2018

TOTAL FUNDING COMMENT

The company is planning to use the new funds to invest in technology and expand its team. (July 2018)

SEED & PRIOR FUNDING

$2.3 M

SEED CLOSED ON

Jan 2015

FUNDING SERIES

SERIES A  · $5.3 M  · May 2017

SERIES B  · $18 M  · Jul 2018

LISTED

NO

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2015

LOCATION:

India

Views:

97 VISITORS | 166 VIEWS
LATEST FUNDING ROUND

$25.6 M

TOTAL EMPLOYEES
51-200

About

PaySense is a mobile-based platform that offers a line of credit service for online/offline purchases to Indian consumers. It offers affordable EMI plans for retail purchases and provides credit line up to 1 lakh. PaySense integrates with India Stack to make online documentation and e-KYC process easier and simple for consumers and also helps to receive immediate approval for their credit requests. The service is available in nine major cities including Mumbai, Delhi-NCR, Bengaluru, and Chennai, with plans to go pan-India soon.

Watch

How the O-to-O-to-O Model is Changing India's Credit Landscape

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack