• FOUNDING YEAR: 2015
    LOCATION:
    India
    REGION:
    Maharashtra
    Last Update:
    17 Jan, 2020

Description

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:
Viewable by subscribers only
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.

PEOPLE

FOUNDERS:
Sayli Karanjkar, Prashanth Ranganathan, Paul Meinshausen
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Jungle Ventures, Naspers, Nexus Venture Partners
KEY EMPLOYEES:
Prashanth Ranganathan (CEO), Sayli Karanjkar (COO)

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)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$25.6 Millions
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 Millions
SEED CLOSED ON:
Jan 2015
FUNDING SERIES:
SERIES A
$5.3 Millions Closed: May 2017
SERIES B
$18 Million Closed: Jul 2018
LISTED:
NO

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