November 20, 2015
Paytm: Paytm is India’s largest mobile commerce platform. Paytm started by offering mobile recharge and utility bill payments, and today, it offers a full marketplace to consumers on its mobile apps. The company is owned and operated by One97 Communication Ltd. and has investors such as Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, among others. The company has more than 100 million Paytm wallet users and the number of transactions carried out by these users is over 75 million per month. Paytm has 80,000 merchants on its platform which is expected to increase to about 100,000 by the year-end after it allows zero-commission listings.
MobiKwik: MobiKwik is India’s largest independent mobile payments network which connects 25 million users with 50,000 retailers. It enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and pay them with a single tap. Users load money into the wallet once using cash, loyalty points, debit card, credit card and net banking to make secure 1-tap payments for purchases. The company has around 17 million mobile wallet subscribers and has achieved a $250-million annual GMV run rate based on the last few months. The company plans to process $700 million GMV through the wallet platform in the financial year of 2015/16. Till now, the company has raised $30.25M in three rounds. Investors include Tree Line Asia (Lead), Cisco Investments, American Express and Sequoia Capital.
Lendingkart.com: Lendingkart is an online credit evaluation platform dedicated to help entrepreneurs and small businesses with working capital finance. The company uses analytics and big data scoring to evaluate a client’s business. The company has recently raised $10 million, or about Rs. 63 crore, from venture capital funds Saama Capital, Mayfield Fund and two ultra-high-net-worth individuals – Ashvin Chadha and Shailesh Mehta.
Capital Float: Capital Float is an online platform that provides working capital finance to SMEs in India. The company offers flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms and receive funds in their bank accounts in seven days with minimal hassle. The company is headquartered in Bangalore. In February, the company announced that it had raised $13 million in Series A financing to support the company’s rapid growth. The round was led by SAIF Partners and Sequoia Capital, with participation from existing investor Aspada.
Faircent: Faircent is one of the pioneers in P2P lending in India. With their technology platform and partnerships, they are looking at empowering the borrower by providing multiple lenders for his/her requirement. In the last 12 months, the company has seen disbursals of close to 1.5 crores and is now at a run rate of 35-40 lakhs. The company charges a borrower’s fees of Rs. 1,500 to get them onto the platform. From the lenders, the company charges 1% for the lending amount. The initial fees would be Rs. 1,500 for investments up to Rs. 150,000. So, irrespective of the amount that a lender plans to invest – it can be anything between Rs. 1,000 to Rs. 150,000 – the company charges Rs. 1,500. Beyond that, the company charge Rs. 1,000 for every additional lakh. It’s a listing-based model/subscription model.
Mswipe: Mswipe is a wireless payment system which provides mobile payment services to SMEs and enterprise clients. It also allows merchants to undertake plastic card payments through smartphones or ordinary feature phones, thus eliminating the cost of integrating conventional POS. At present, Mswipe has 30,000 merchants on board, which includes clients such as McDonald’s, Asian Paints and Reliance Life. Till now, the company has raised $25 million in disclosed funding. Investors include US hedge fund Falcon Edge Capital, Meru Capital, Ola, Matrix Partners India, Axis Bank and DSG Consumer Partners.
Citrus Payments: Apart from focusing on merchants that deal in high-value transactions, the company is servicing hyper-local and small businesses. Citrus operates on both the consumer and business side in the payments space. Airtel, IndiGo, Sun Direct, Tata AIA, Fun Cinemas, Pepperfry, Grofers and TinyOwl are among its clients. The firm charges a 2.5% transaction fee from the merchants. The company is led by Amrish Rau, and founders Satyen Kothari and Jitendra Gupta. The company claims to process 12 million transactions per month with an average ticket size of around Rs. 600 a day. It has over 5,000 merchants and 15 million registered users of which about 3 million are active users. The total funds raised by the company stand at $32.3M. Investors include Ascent Capital and Sequoia, econtext Asia Ltd., and Beenos Asia Pte. Ltd.
Pine Labs: Pine Labs managed 70,000 POS terminals in India at the end of financial year (March 2015) and have reached 100,000 terminals in August 2015. The company processed $5.5 billion worth of transactions in FY’15 (April 2014 to March 2015) and the company expect to double the number this year. The company has a 12% market share by transaction value in the country, whereas the total electronic transactions at POS stand at $50 billion in the same period. It is worth noting that 1.3% by volume and 10% by value of transactions processed by Pine Labs was through the EMI facility. At present, the company generates 70% of their revenues through core payments while the other 30% comes from value-added services. The company work with almost all major retailers such as Croma, Shoppers Stop, Arvind Stores, Big Bazaar, CCD, Cinepolis, ColorPlus, Costa Coffee, D-Mart, Domino’s Pizza, Favourite Shop, Mahindra’s Babyoye, Haldiram’s and many others.
Ezetap: Ezetap accepts mobile card reader model payments. Apart from magnetic stripe credit cards, it has gone ahead and implemented chip-and-pin type payments as well on its mobile card reader. It counts Myntra, BookMyShow, Ola, Redbus and insurance companies as its customers. Chamath Palihapitiya is an investor in the company. Their strategy is not to go and directly do SME merchant acquisition. They are tying up with banks such as Citibank, who in turn will offer it to their SMB clients. Till now, the company has raised $35M in disclosed funding. Investors include American Express, Social+Capital, Helion Advisors and Berggruen Holdings, Horizons Ventures (the private investment arm for Li Ka-Shing) and the Capricorn Investment Group.
Oxigen Wallet: Oxigen Wallet is powered by Oxigen Services (India) Pvt. Ltd., India's first and largest payment solutions provider. Oxigen was one of the first wallet solutions to be launched in India and has a large retail network of more than 200,000 outlets. Oxigen Wallet is India's first RBI-approved nonbank wallet to be integrated with NPCI, allowing instant money transfers from the wallet to 60+ banks and vice versa using the Immediate Payment Service (IMPS). Overall the company has around 9 million users but not all of them are app downloads; a lot of them are from the retail-assisted model. With regard to app downloads, the company would be close to around 1.5 million.
FreeCharge: The online mobile recharge firm was recently acquired by Snapdeal at a whopping amount of $450 million (Rs. 2,900 crores). FreeCharge also claims to have more than 20 million users. Mobile transactions on the FreeCharge app have grown 60 times over in 2014 driven through more than 10 million app downloads. Snapdeal, India’s second-largest e-commerce firm, along with the online recharge company FreeCharge has come up with a new mobile wallet. The FreeCharge Digital Wallet is said to cater to about 87 million registered users of both the companies.
PayU India: PayU India is the flagship company of Naspers Group which is a $25 billion Internet and media conglomerate listed on London and Johannesburg stock exchanges respectively. PayU provides state-of-the-art payment gateway solutions to online businesses through its cutting-edge and award-winning technology. PayU India serves more than 4000 merchants including leading e-commerce companies like Goibibo, Rechargeitnow, Jabong, Snapdeal, BookMyShow, Ferns n Petals, Tradus, Travelyaari, Zomato, Groupon India, etc.
Milaap: Milaap is an Indian P2P firm which helps you raises money, lend a little or donate to the causes and projects you care about. The major investors for the company are Khosla Impact, LionRock Capital (Hong Kong) and Unitus Seed Fund, Singapore-based Jungle Ventures and Skype Co-founder Toivo Annus and Sony Entertainment Television Co-founder and Jungle Ventures managing director Jayesh Parekh.
Razorpay: Founded by IIT Roorkee alumni, Razorpay aims to revolutionize online payments by providing clean, developer-friendly APIs and hassle-free integration. The company offers a fast, affordable and secure way for merchants, schools, e-commerce and other companies to accept payments online. The company has recently announced its series A funding round of $9 million, led by Tiger Global along with participation from Matrix Partners.