Radar · Payments in India
Best Payments Companies in India
The 1203 best Payments companies in India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Paytm.
By Riya SenguptaFinancials
1203companies tracked
$13Bdisclosed funding
12unicorns
281have raised
Payments in India has produced one of the densest startup clusters on the planet, and this directory ranks 1,203 companies by disclosed equity funding and recent momentum to show you exactly where capital has landed. Total disclosed funding across the cohort sits at $13.0B, with 12 unicorns confirmed, led by CRED at $866M raised and BharatPe at $604M. The global payments market was valued at roughly $511.9B in 2022 and is forecast to reach $847.6B by 2027, a CAGR of 8.9%, driven by open banking, contactless adoption, and blockchain infrastructure. Gaps in regulation remain a live variable here, and you'd be wrong to ignore them.
The real story, though, is earned revenue. Across 867 validated filers, the combined revenue pool reaches $12.9B, with a median company posting roughly $198K and growing at 18% YoY. That median hides dramatic spread. Phonepe clocked $829M at 40% growth. PayU Payments hit $648M at 23% growth. NPST's move to the mainboard is a recent signal that the sector's maturation is structural, not cyclical. I'd watch the outsized earners closely, too: Visa Consolidated Support Services (India) posted $52M net income, 4,283 times the sector median of $12,218. That's the kind of number that reframes the whole conversation.
Sources & further reading
- Bitcoin extends losses down 6%, due to weakness in tech stocks
- Bitcoin Price Today: Holds Above $67K After Dip
- Top 3 reasons altcoins like Dogecoin, Shiba Inu Coin, XRP are rising today
FLIAR INTELLIGENCE · PAYMENTS × INDIA
Our analysis of 50 Payments companies
$10.6b in tracked funding; 90% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2021.
50companies analysed
90%cloud-native stacks
2021funding peak (by rounds)
10unicorns
2017median founding year
5.4Mcombined LinkedIn audience
53%of audience held by top 3
7companies hiring publicly (12 mo)
Ranked: Best Payments companies in India
| # | Company | Disclosed funding | Revenue | Valuation | Employees | Tech stack | Web popularity | Market signals (1y) | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | PhonePe 🦄 Provider of digital payment, financial, and technology solutions for consumers 84Customers top 13%Market top 18%Talent top 23%Moat top 25% All 14 signals ▾Customerstop 13% Markettop 18% Talenttop 23% Moattop 25% Techtop 29% Fundingtop 30% Growthtop 32% Producttop 32% Newstop 33% Partnerstop 33% Innovationtop 39% Fin. healthtop 40% Patentstop 48% Globalbottom 39% Customers: Play-Store rating 4.54★ across 14,461,508 ratings (2 apps) · Review volume +6% in 6 mo Market: 451 employees (top 10% of Payments) · Revenue ~$903M rank vs industry peers · Fliar Intelligence Index 84/100 | $1.0B | $903M FY2025 | $12.6B | 451 | SentryGSAPReact+18 | Top 50k | 47 signals New product · IPO · Regulatory | 1 launch · 1 award |
| 2 | Paytm 🦄 Digital payment platform offering financial services, recharges and more 82Market top 10%Customers top 12%Innovation top 20%Moat top 20% All 13 signals ▾Markettop 10% Customerstop 12% Innovationtop 20% Moattop 20% Techtop 23% Producttop 23% Fundingtop 25% Globaltop 36% Talenttop 37% Partnerstop 44% Newstop 47% Fin. healthbottom 45% Growthbottom 29% Market: 22,948 employees (top 1% of Payments) · Revenue ~$902M Customers: Play-Store rating 4.76★ across 24,413,322 ratings (3 apps) · Review volume +4% in 6 mo rank vs industry peers · Fliar Intelligence Index 82/100 | $3.5B | $902M FY2025 | $15.6B | 22,948 | Apple iCloud MailGoogle WorkspaceSalesforce+19 | Top 10k | 59 signals ▼63% Earnings · Leadership · Regulatory | — |
| 3 | Razorpay 🦄 Provider of payment and business banking solutions for enterprises 90Market top 16%Tech top 16%Moat top 17%Innovation top 19% All 12 signals ▾Markettop 16% Techtop 16% Moattop 17% Innovationtop 19% Fundingtop 26% Producttop 26% Customerstop 34% Fin. healthtop 36% Growthtop 37% Newstop 42% Talenttop 42% Globalbottom 45% Market: 1,952 employees (top 5% of Payments) · Revenue ~$465M Tech: 89 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 rank vs industry peers · Fliar Intelligence Index 90/100 | $742M | $465M FY2025 | $7.5B | 1,952 | SentryApple iCloud MailGoogle Workspace+32 | Top 10k | 15 signals ▼44% New product · Regulatory · IPO | — |
| 4 | Navi 🦄 Provider of financial products including UPI, loans, insurance, and mutual funds 78Customers top 10%Moat top 17%Innovation top 20%Market top 21% All 12 signals ▾Customerstop 10% Moattop 17% Innovationtop 20% Markettop 21% Fundingtop 21% Techtop 29% Producttop 37% Talenttop 38% Newstop 45% Fin. healthbottom 49% Growthbottom 40% Globalbottom 32% Customers: Play-Store rating 4.47★ across 5,633,904 ratings (1 apps) · Marquee-customer mentions: top 17% of tracked companies Moat: Top 1% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 8/10 rank vs industry peers · Fliar Intelligence Index 78/100 | $427M | $318M FY2025 | $547M | 698 | TypeScriptBootstrapAmazon Web Services+20 | Top 100k | 6 signals ▼50% New product · Capital raise · Funding | 1 job opening · 2 awards |
| 5 | CRED 🦄 Fintech platform that rewards users for paying credit card bills on time 92Customers top 9%Funding top 15%Tech top 15%Fin. health top 16% All 13 signals ▾Customerstop 9% Fundingtop 15% Techtop 15% Fin. healthtop 16% Markettop 17% Moattop 17% Innovationtop 20% Producttop 26% Partnerstop 33% Talenttop 44% Growthtop 47% Newstop 47% Globalbottom 39% Customers: Play-Store rating 4.75★ across 2,962,978 ratings (2 apps) · Review volume +13% in 6 mo Funding: Raised $866M across 12 rounds · 12 rounds over 8 yrs (1.5/yr) rank vs industry peers · Fliar Intelligence Index 92/100 | $866M | $299M FY2024 | $6.4B | 915 915 → 2,280 (+149%) · sector median +87% | MediumApple iCloud MailGoogle Workspace+23 | Top 100k | 8 signals ▼72% New product · Leadership · Capital raise | — |
| 6 | OneCard 🦄 Provider of metal credit cards with a mobile application interface 80Customers top 13%Funding top 17%Moat top 17%Market top 20% All 11 signals ▾Customerstop 13% Fundingtop 17% Moattop 17% Markettop 20% Talenttop 23% Producttop 36% Fin. healthtop 40% Growthtop 44% Techbottom 45% Globalbottom 39% Newsbottom 21% Customers: Play-Store rating 4.61★ across 610,947 ratings (1 apps) · Review volume +14% in 6 mo Funding: Raised $234M across 10 rounds · 10 rounds over 7 yrs (1.4/yr) rank vs industry peers · Fliar Intelligence Index 80/100 | $234M | $226M FY2025 | $1.3B | 997 | Amazon WebstoreAmazon Web ServicesCloudflare+16 | Top 500k | — | — |
| 7 | Zaggle Platform designed to streamline business spends, payments, and rewards through automated and innovative… 82Fin. health top 19%Partners top 20%Tech top 26%Moat top 26% All 13 signals ▾Fin. healthtop 19% Partnerstop 20% Techtop 26% Moattop 26% Growthtop 27% Markettop 28% Customerstop 32% Talenttop 32% Producttop 33% Fundingtop 34% Newstop 35% Innovationtop 50% Globalbottom 37% Fin. health: Revenue ~$220M (FY2026) · Net margin 7.2% Partners: 3 partnership announcements in 12 mo (3 in 24 mo) · 25 contract events in 12 mo rank vs industry peers · Fliar Intelligence Index 82/100 | $2M | $220M FY2026 | $475M | 401 | Node.jsTailwind CSSAnt Design+24 | Top 5M | 85 signals ▼24% Contracts · Earnings · M&A | — |
| 8 | Pine Labs 🦄 Provider of in-store and online payment, prepaid, and financial solutions 91Market top 16%Tech top 17%Moat top 17%News top 19% All 12 signals ▾Markettop 16% Techtop 17% Moattop 17% Newstop 19% Innovationtop 23% Producttop 23% Talenttop 25% Partnerstop 27% Fundingtop 29% Fin. healthtop 32% Globaltop 36% Growthtop 45% Market: 769 employees (top 11% of SaaS) · Revenue ~$211M Tech: 61 technologies across 5/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront rank vs industry peers · Fliar Intelligence Index 91/100 | $1.3B | $211M FY2024 | $5.8B | 769 | Node.jsSalesforceRadix UI+29 | Top 500k | 97 signals ▲411% IPO · Earnings · Regulatory | 1 launch · 3 partnerships · 1 award |
| 9 | BharatPe 🦄 Provider of payment solutions, lending, and investment opportunities for businesses 84Funding top 15%Customers top 15%Moat top 17%Talent top 20% All 12 signals ▾Fundingtop 15% Customerstop 15% Moattop 17% Talenttop 20% Markettop 23% Innovationtop 27% Producttop 28% Newstop 29% Techtop 33% Fin. healthtop 38% Growthtop 47% Globalbottom 39% Funding: Raised $604M across 17 rounds · 17 rounds over 8 yrs (2.1/yr) Customers: Play-Store rating 4.25★ across 969,899 ratings (1 apps) · Review volume +59% in 6 mo rank vs industry peers · Fliar Intelligence Index 84/100 | $604M | $205M FY2025 | $2.7B | 898 | WordPressApple iCloud MailGoogle Workspace+29 | Top 500k | 37 signals ▲37% Leadership · Earnings · New product | 2 awards |
| 10 | MobiKwik Provider of digital payment services for mobile and utility bills 72Moat top 17%Funding top 20%Market top 21%Tech top 26% All 12 signals ▾Moattop 17% Fundingtop 20% Markettop 21% Techtop 26% Newstop 32% Producttop 39% Talenttop 39% Fin. healthtop 40% Growthbottom 48% Customersbottom 47% Innovationbottom 46% Globalbottom 39% Moat: Top 2% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 9/10 Funding: Raised $269M across 23 rounds · 23 rounds over 13 yrs (1.8/yr) rank vs industry peers · Fliar Intelligence Index 72/100 | $269M | $131M FY2026 | $924M | 667 667 → 1,590 (+138%) · sector median +87% | Apple iCloud MailGoogle WorkspaceRuby+17 | Top 100k | 20 signals ▼68% Earnings · M&A · Regulatory | 1 job opening · 1 launch |
| 11 | Xoxoday Provider of rewards and loyalty platform that enables businesses to run employee engagement, customer… 74Tech top 18%Talent top 25%Funding top 30%Product top 32% All 12 signals ▾Techtop 18% Talenttop 25% Fundingtop 30% Producttop 32% Innovationtop 33% Fin. healthtop 33% Newstop 36% Markettop 46% Globaltop 46% Moattop 49% Customersbottom 49% Growthbottom 47% Tech: 82 technologies across 6/8 capability areas · Cloud: Amazon S3, Amazon Web Services Talent: Analyst team rating 4/5 · 5 named leaders on record rank vs industry peers · Fliar Intelligence Index 74/100 | $31M | $118M FY2025 | $4M | 269 | WebflowGhostNode.js+29 | Top 100k | — | — |
| 12 | slice 🦄 Provider of personal line of credits for consumers 82Moat top 9%Customers top 13%Tech top 16%Funding top 23% All 10 signals ▾Moattop 9% Customerstop 13% Techtop 16% Fundingtop 23% Markettop 24% Producttop 40% Growthtop 47% Fin. healthtop 49% Talentbottom 45% Globalbottom 38% Moat: Top 3% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 9/10 Customers: Play-Store rating 4.41★ across 769,862 ratings (1 apps) · Review volume +19% in 6 mo rank vs industry peers · Fliar Intelligence Index 82/100 | $342M | $108M FY2023 | $1.8B | 143 | Apple iCloud MailMicrosoft 365Ruby+22 | Top 500k | — | — |
| 13 | Easebuzz Provider of payment solutions and software as a service APIs 82Tech top 18%Fin. health top 21%Moat top 23%Talent top 28% All 12 signals ▾Techtop 18% Fin. healthtop 21% Moattop 23% Talenttop 28% Innovationtop 31% Markettop 36% Growthtop 36% Producttop 38% Partnerstop 45% Fundingtop 46% Newsbottom 44% Globalbottom 37% Tech: 82 technologies across 6/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront Fin. health: Revenue ~$77.9M (FY2023) · Net margin 2.9% rank vs industry peers · Fliar Intelligence Index 82/100 | $4M | $78M FY2025 | $12M | 291 291 → 557 (+91%) · sector median +87% | Apple iCloud MailGoogle WorkspaceTypeScript+32 | Top 500k | 4 signals ▼78% New product · Funding | 2 partnerships · 1 award |
| 14 | Cashfree Payments Provider of payment gateway and payouts, and identity verification services 74Moat top 21%Innovation top 24%Market top 27%Funding top 30% All 12 signals ▾Moattop 21% Innovationtop 24% Markettop 27% Fundingtop 30% Techtop 30% Producttop 31% Talenttop 31% Newstop 43% Fin. healthbottom 47% Growthbottom 46% Globalbottom 45% Partnersbottom 43% Moat: Top 4% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 8/10 Innovation: 10 new-product events in 24 mo rank vs industry peers · Fliar Intelligence Index 74/100 | $44M | $76M FY2025 | $107M | 726 726 → 941 (+30%) · sector median +87% | SentryZendeskApple iCloud Mail+32 | Top 50k | 9 signals ▼73% Leadership · New product · Regulatory | — |
| 15 | Juspay 🦄 Provider of payments infrastructure solutions 84Customers top 13%Fin. health top 23%Funding top 24%Market top 25% All 12 signals ▾Customerstop 13% Fin. healthtop 23% Fundingtop 24% Markettop 25% Moattop 25% Techtop 30% Producttop 30% Partnerstop 31% Talenttop 33% Newstop 34% Growthtop 38% Globalbottom 39% Customers: App rating 4.8★ (132,476 reviews) · Marquee-customer mentions: top 30% of tracked companies Fin. health: Revenue ~$63.8M (FY2025) · Net margin 13.0% rank vs industry peers · Fliar Intelligence Index 84/100 | $88M | $64M FY2025 | $481M | 969 969 → 2,056 (+112%) · sector median +87% | Cart FunctionalitySanityZoho+26 | Top 500k | 16 signals Funding · Earnings · Capital raise | 2 launchs · 6 partnerships |
| 16 | M2P Fintech Provider of APIs enabling banking, lending, and payment financial services 84Tech top 14%Funding top 20%Moat top 21%Market top 27% All 11 signals ▾Techtop 14% Fundingtop 20% Moattop 21% Markettop 27% Innovationtop 28% Producttop 29% Talenttop 31% Globaltop 42% Growthtop 43% Fin. healthtop 46% Newsbottom 40% Tech: 59 technologies across 7/8 capability areas · Cloud: Amazon S3, Amazon Ses Funding: Raised $183M across 11 rounds · 11 rounds over 6 yrs (1.8/yr) rank vs industry peers · Fliar Intelligence Index 84/100 | $183M | $63M FY2025 | $784M | 1,078 1,078 → 1,438 (+33%) · sector median +87% | Apple iCloud MailMicrosoft 365TypeScript+26 | Top 5M | 3 signals ▼83% Leadership | 1 partnership |
| 17 | StoreKing Provider of online supermarket services for small-town retailers 64Moat top 15%Tech top 25%Talent top 35%Funding top 36% All 10 signals ▾Moattop 15% Techtop 25% Talenttop 35% Fundingtop 36% Fin. healthtop 37% Markettop 38% Producttop 40% Growthbottom 43% Globalbottom 39% Newsbottom 27% Moat: Top 5% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 Tech: 52 technologies across 6/8 capability areas · Cloud: Cloudflare rank vs industry peers · Fliar Intelligence Index 64/100 | $45M | $43M FY2025 | $108M | 115 115 → 220 (+91%) · sector median +87% | TypeScriptNode.jsZoho+23 | Top 10M | — | 3 job openings · 1 internship · 2 launchs |
| 18 | Mindgate Provider of digital payment platform, retail, transaction banking, and other solutions 69Fin. health top 22%Moat top 23%Growth top 29%Market top 34% All 9 signals ▾Fin. healthtop 22% Moattop 23% Growthtop 29% Markettop 34% Talenttop 38% Fundingtop 43% Newsbottom 45% Globalbottom 37% Techbottom 31% Fin. health: Revenue ~$42.0M (FY2024) · Net margin 6.7% Moat: Top 5% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 rank vs industry peers · Fliar Intelligence Index 69/100 | $10M | $42M FY2025 | $61M | 1,330 | WordPressPleskMySQL+11 | Top 5M | — | — |
| 19 | BankBazaar Online platform providing tools for comparing and applying for financial products 69Customers top 21%Moat top 22%Funding top 24%Market top 26% All 12 signals ▾Customerstop 21% Moattop 22% Fundingtop 24% Markettop 26% Talenttop 28% Producttop 29% Techtop 33% Innovationtop 39% Fin. healthtop 48% Globalbottom 39% Growthbottom 35% Newsbottom 27% Customers: Play-Store rating 4.42★ across 144,966 ratings (1 apps) · Review volume +2% in 6 mo Moat: Top 6% by revenue among 363 tracked Banking Tech companies · Editorial + unicorn rating 8/10 rank vs industry peers · Fliar Intelligence Index 69/100 | $126M | $30M FY2025 | $197M | 943 943 → 696 (-26%) · sector median +87% | WordPressApple iCloud MailMicrosoft 365+24 | Top 5k | — | — |
| 20 | Yethi Provider of quality assurance and testing automation services for banking and financial services industries 69Moat top 24%Fin. health top 35%Funding top 38%Growth top 38% All 11 signals ▾Moattop 24% Fin. healthtop 35% Fundingtop 38% Growthtop 38% Talenttop 38% Markettop 39% Innovationtop 39% Techtop 39% Producttop 43% Globalbottom 32% Newsbottom 18% Moat: Top 10% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 5/10 Fin. health: Revenue ~$18.1M (FY2022) · Net margin 1.1% rank vs industry peers · Fliar Intelligence Index 69/100 | $5M | $18M FY2025 | $27M | 1,106 1,106 → 1,284 (+16%) · sector median +87% | ReactReact RouterEmotion+14 | Top 5M | — | 5 job openings |
| 21 | Innoviti Provider of payment and revenue assurance software for retail businesses 57Moat top 21%Funding top 24%Tech top 24%Product top 30% All 10 signals ▾Moattop 21% Fundingtop 24% Techtop 24% Producttop 30% Markettop 40% Newstop 40% Fin. healthbottom 46% Growthbottom 45% Talentbottom 41% Globalbottom 39% Moat: Top 4% by revenue among 176 tracked In Store Retail Tech companies · Editorial + unicorn rating 8/10 Funding: Raised $137M across 22 rounds · 22 rounds over 20 yrs (1.1/yr) rank vs industry peers · Fliar Intelligence Index 57/100 | $137M | $17M FY2025 | $218M | 204 | WordPress Block EditorElementorCart Functionality+29 | Top 5M | 5 signals ▼44% Funding · Earnings · Leadership | — |
| 22 | Phi Commerce Provider of omnichannel payment gateway and aggregator solutions for businesses 69Talent top 23%Moat top 25%Growth top 32%Funding top 34% All 8 signals ▾Talenttop 23% Moattop 25% Growthtop 32% Fundingtop 34% Techtop 40% Markettop 42% Globalbottom 48% Fin. healthbottom 47% Talent: 10 named leaders on record · 10 C-suite/founder profiles curated Moat: Top 12% by revenue among 743 tracked Payments companies · 10 curated direct competitors tracked rank vs industry peers · Fliar Intelligence Index 69/100 | $27M | $13M FY2025 | — | — | WordPressApple iCloud MailGoogle Workspace+27 | Top 5M | — | — |
| 23 | PayPhi Provider of omnichannel payment solutions and infrastructure for diverse business needs 55Talent top 23%Moat top 27%Growth top 29%Funding top 38% All 11 signals ▾Talenttop 23% Moattop 27% Growthtop 29% Fundingtop 38% Producttop 39% Markettop 42% Innovationbottom 48% Fin. healthbottom 48% Globalbottom 39% Techbottom 22% Newsbottom 21% Talent: 6 named leaders on record · 6 C-suite/founder profiles curated Moat: Top 12% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 rank vs industry peers · Fliar Intelligence Index 55/100 | $16M | $13M FY2025 | $72M | 176 176 → 274 (+56%) · sector median +87% | — | — | — | — |
| 24 | Mintoak Digital payments and engagement solutions for MSMEs 69Customers top 22%Talent top 23%Moat top 31%Funding top 32% All 11 signals ▾Customerstop 22% Talenttop 23% Moattop 31% Fundingtop 32% Fin. healthtop 33% Growthtop 38% Markettop 45% Producttop 47% Techtop 50% Newsbottom 37% Globalbottom 37% Customers: App rating 4.6★ (139,511 reviews) · Review volume +1% in 6 mo Talent: 5 named leaders on record · 5 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 69/100 | $40M | $13M FY2025 | $117M | 134 134 → 153 (+14%) · sector median +87% | Node.jsTailwind CSSReact+12 | Top 5M | 3 signals ▼67% Funding | 1 launch · 2 partnerships · 1 expansion |
| 25 | Uni Cards Provider of a gold rewards credit card program 64Moat top 24%Customers top 29%Market top 32%Funding top 32% All 11 signals ▾Moattop 24% Customerstop 29% Markettop 32% Fundingtop 32% Techtop 35% Growthtop 38% Talenttop 38% Productbottom 47% Newsbottom 46% Globalbottom 39% Fin. healthbottom 32% Moat: Top 12% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 8/10 Customers: Play-Store rating 3.57★ across 191,152 ratings (1 apps) · Review volume +12% in 6 mo rank vs industry peers · Fliar Intelligence Index 64/100 | $104M | $11M FY2025 | $329M | 394 394 → 316 (-20%) · sector median +87% | TurbopackSentryNode.js+19 | Top 10k | — | — |
| 26 | Jupiter Online platform offering a suite of financial services 72Tech top 12%News top 18%Customers top 20%Moat top 24% All 12 signals ▾Techtop 12% Newstop 18% Customerstop 20% Moattop 24% Fundingtop 25% Partnerstop 26% Markettop 35% Growthtop 37% Producttop 46% Talentbottom 49% Globalbottom 39% Fin. healthbottom 37% Tech: 59 technologies across 7/8 capability areas · Cloud: Amazon Cloudfront, Amazon Web Services News: 7 BI events in 12 mo (of 16 tracked, 5 types) · +600% YoY rank vs industry peers · Fliar Intelligence Index 72/100 | $167M | $11M FY2025 | $645M | 415 | GhostNode.jsTailwind CSS+26 | Top 500k | 7 signals ▲600% Funding · Leadership · Regulatory | — |
| 27 | CheQ Provider of digital credit card bill payment and management services 60Growth top 22%Moat top 27%Funding top 37%Market top 42% All 11 signals ▾Growthtop 22% Moattop 27% Fundingtop 37% Markettop 42% Fin. healthtop 44% Talentbottom 49% Customersbottom 45% Techbottom 42% Productbottom 40% Globalbottom 37% Newsbottom 22% Growth: Headcount 57 → 77 (+35%) across vintages · Revenue +433% YoY Moat: Top 13% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 rank vs industry peers · Fliar Intelligence Index 60/100 | $18M | $10M FY2025 | $56M | 77 77 → 144 (+87%) · sector median +87% | Framer SitesApple iCloud MailGoogle Workspace+13 | Top 5M | — | — |
| 28 | Falcon Provider of a cloud-native platform for next-generation financial products 53Moat top 32%Funding top 40%Growth top 40%Tech top 41% All 12 signals ▾Moattop 32% Fundingtop 40% Growthtop 40% Techtop 41% AItop 45% Talenttop 45% Markettop 46% Productbottom 47% Newsbottom 44% Innovationbottom 41% Globalbottom 39% Fin. healthbottom 38% Moat: Top 13% by revenue among 363 tracked Banking Tech companies · Editorial + unicorn rating 5/10 Funding: Raised $9.2M across 3 rounds · 3 rounds over 5 yrs (0.6/yr) rank vs industry peers · Fliar Intelligence Index 53/100 | $9M | $9M FY2025 | $42M | 71 | WebflowGSAPTwitter Ads+18 | Top 10M | — | — |
| 29 | ToneTag Tech company that enables contactless and digital payments through proximity-based, IoT, and conversational… 42Moat top 30%Innovation top 34%Funding top 34%Product top 36% All 11 signals ▾Moattop 30% Innovationtop 34% Fundingtop 34% Producttop 36% Talenttop 38% Marketbottom 47% Techbottom 43% Newsbottom 40% Fin. healthbottom 40% Globalbottom 39% Growthbottom 34% Moat: Top 19% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 Innovation: 12 product lines rank vs industry peers · Fliar Intelligence Index 42/100 | $14M | $6M FY2024 | $97M | 64 | WordPressMySQLPHP+21 | Top 5M | 4 signals ▼60% Funding · Capital raise | 2 launchs · 1 award |
| 30 | Scapia Provider of credit cards and a platform for travel bookings 64Growth top 21%Moat top 30%Funding top 31%News top 37% All 12 signals ▾Growthtop 21% Moattop 30% Fundingtop 31% Newstop 37% Techtop 38% Producttop 40% Innovationtop 41% Customerstop 45% Markettop 46% Talentbottom 49% Fin. healthbottom 45% Globalbottom 39% Growth: Headcount 52 → 83 (+60%) across vintages · Revenue +67% YoY Moat: Top 21% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 rank vs industry peers · Fliar Intelligence Index 64/100 | $32M | $5M FY2025 | $100M | 83 | Amazon WebstoreTurbopackApple iCloud Mail+20 | Top 50k | 5 signals ▲25% New product · Capital raise · Funding | 1 launch |
| 31 | Mobileware Tech Developer of software solutions for the insurance and banking management 62Product top 26%Fin. health top 33%Innovation top 34%Growth top 35% All 11 signals ▾Producttop 26% Fin. healthtop 33% Innovationtop 34% Growthtop 35% Moattop 36% Talenttop 38% Marketbottom 49% Fundingbottom 49% Techbottom 46% Globalbottom 37% Newsbottom 18% Product: 5 distinct product lines · Company stage: Acquired Fin. health: Revenue ~$4.0M (FY2024) · Net margin 4.9% rank vs industry peers · Fliar Intelligence Index 62/100 | $2M | $4M FY2025 | $9M | 67 | WordPressMySQLZoho+30 | Top 10M | — | 1 job opening |
| 32 | Rupifi Provider of B2B credit and checkout solutions for SMEs 27Moat top 28%Talent top 28%Funding top 37%Market bottom 47% All 10 signals ▾Moattop 28% Talenttop 28% Fundingtop 37% Marketbottom 47% Productbottom 47% Globalbottom 39% Techbottom 35% Growthbottom 32% Fin. healthbottom 26% Newsbottom 21% Moat: Top 26% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 Talent: 3 named leaders on record · 3 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 27/100 | $34M | $3M FY2025 | $69M | 122 | SentryAmazon Web ServicesMicrosoft Clarity+6 | Top 5M | — | — |
| 33 | Castler Escrow-based banking solutions for consumers and businesses 62Growth top 15%Talent top 23%Tech top 39%Moat top 39% All 9 signals ▾Growthtop 15% Talenttop 23% Techtop 39% Moattop 39% Fundingtop 46% Fin. healthbottom 47% Marketbottom 39% Globalbottom 37% Newsbottom 21% Growth: Headcount 38 → 77 (+103%) across vintages · Revenue +161% YoY Talent: 5 named leaders on record · 5 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 62/100 | $8M | $2M FY2025 | $20M | 77 77 → 55 (-29%) · sector median +87% | Framer SitesReactcore-js+11 | Top 10M | — | — |
| 34 | Maximize Online platform offering rewards, cashback, and exclusive offers on various transactions and purchases 50Talent top 28%Tech top 41%Market top 42%Growth top 45% All 8 signals ▾Talenttop 28% Techtop 41% Markettop 42% Growthtop 45% Fundingbottom 49% Productbottom 40% Globalbottom 36% Fin. healthbottom 34% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Tech: 21 technologies across 5/8 capability areas · Cloud: Cloudflare rank vs industry peers · Fliar Intelligence Index 50/100 | $1M | $2M FY2025 | — | — | TurbopackNode.jsRadix UI+17 | Top 500k | — | — |
| 35 | Kiwi Platform enabling UPI payments via credit cards 53Growth top 20%Talent top 28%Funding top 36%Moat top 39% All 9 signals ▾Growthtop 20% Talenttop 28% Fundingtop 36% Moattop 39% Techtop 44% Producttop 46% Marketbottom 44% Globalbottom 37% Fin. healthbottom 22% Growth: Headcount 25 → 45 (+80%) across vintages · Web rank 100,000 → 50,000 YoY Talent: 3 named leaders on record · 3 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 53/100 | $19M | $1M FY2025 | $64M | 45 | Node.jsUbuntuReact+14 | Top 50k | — | 1 internship · 1 partnership |
| 36 | PeLocal Provider of payment solutions, digital transformation, and e-commerce integration 48Growth top 27%Talent top 38%Moat top 42%Tech top 50% All 10 signals ▾Growthtop 27% Talenttop 38% Moattop 42% Techtop 50% Productbottom 48% Fundingbottom 47% Fin. healthbottom 46% Newsbottom 43% Marketbottom 39% Globalbottom 32% Growth: Revenue +105% YoY · Fresh capital in last 24 mo Talent: 2 named leaders on record · 2 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 48/100 | $1M | $1M FY2025 | $4M | — | Node.jsNext.jsReact+7 | Top 1M | 4 signals ▼20% Funding | 1 award |
| 37 | Skydo Digital platform enabling businesses to receive payments from overseas businesses 55Growth top 27%Tech top 37%Talent top 38%News top 45% All 9 signals ▾Growthtop 27% Techtop 37% Talenttop 38% Newstop 45% Fundingtop 48% Moattop 50% Globalbottom 45% Marketbottom 42% Fin. healthbottom 42% Growth: Headcount 23 → 44 (+91%) across vintages · Revenue +303% YoY Tech: 30 technologies across 6/8 capability areas · Cloud: Amazon Web Services rank vs industry peers · Fliar Intelligence Index 55/100 | $10M | $1M FY2025 | — | 44 | Node.jsUbuntuTailwind CSS+19 | Top 500k | 6 signals ▼25% Regulatory · Funding | — |
| 38 | Xflow Provider of infrastructure for processing and managing cross border payments 69Growth top 17%News top 22%Talent top 28%Tech top 33% All 9 signals ▾Growthtop 17% Newstop 22% Talenttop 28% Techtop 33% Fundingtop 39% Moattop 39% Fin. healthtop 42% Globalbottom 43% Marketbottom 41% Growth: Headcount 31 → 42 (+35%) across vintages · Revenue +427% YoY News: 7 BI events in 12 mo (of 13 tracked, 3 types) · 3 high-value events (IPO/M&A/funding/contracts) in 12 mo rank vs industry peers · Fliar Intelligence Index 69/100 | $16M | $786K FY2025 | — | 42 | Builder.ioTurbopackEmotion+30 | Top 500k | 7 signals Funding · Regulatory · Capital raise | — |
| 39 | Mylapay Provider of payment processing and risk management solutions 50Growth top 23%Talent top 28%News top 34%Moat top 44% All 9 signals ▾Growthtop 23% Talenttop 28% Newstop 34% Moattop 44% Techtop 50% Fundingbottom 48% Fin. healthbottom 45% Marketbottom 38% Globalbottom 37% Growth: Headcount 19 → 56 (+195%) across vintages · Revenue +61% YoY Talent: 3 named leaders on record · 3 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 50/100 | $737K | $694K FY2025 | $4M | 56 56 → 110 (+96%) · sector median +87% | Node.jsUbuntuTailwind CSS+9 | Top 10M | 4 signals Capital raise · Funding | 1 job opening · 1 partnership |
| 40 | RUGR Provider of a banking platform for financial solutions 45Talent top 28%Growth top 35%Fin. health top 49%Tech bottom 46% All 7 signals ▾Talenttop 28% Growthtop 35% Fin. healthtop 49% Techbottom 46% Fundingbottom 44% Marketbottom 38% Globalbottom 34% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Growth: Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 45/100 | $5M | $689K FY2025 | — | — | Node.jsUbuntuTailwind CSS+16 | Top 10M | — | — |
| 41 | Popclub Provider of UPI payment solutions and credit card based reward program 35Growth top 32%Funding top 38%Tech top 43%Moat top 45% All 9 signals ▾Growthtop 32% Fundingtop 38% Techtop 43% Moattop 45% Talentbottom 49% Productbottom 48% Globalbottom 39% Marketbottom 34% Fin. healthbottom 21% Growth: Web rank 1,000,000 → 5,000,000 YoY · App-install growth +91% YoY Funding: Raised $2.4M across 4 rounds · 4 rounds over 3 yrs (1.3/yr) rank vs industry peers · Fliar Intelligence Index 35/100 | $2M | $558K FY2025 | $7M | 15 | Node.jsUbuntuRadix UI+16 | Top 1M | — | 1 launch |
| 42 | LEO 1 Provider of alumni network platform with banking, rewards, and connection features 27Talent top 28%Funding top 30%Moat top 38%Tech top 44% All 10 signals ▾Talenttop 28% Fundingtop 30% Moattop 38% Techtop 44% Producttop 46% Marketbottom 47% Globalbottom 39% Newsbottom 22% Growthbottom 20% Fin. healthbottom 19% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Funding: Raised $41.7M across 5 rounds · 5 rounds over 7 yrs (0.7/yr) rank vs industry peers · Fliar Intelligence Index 27/100 | $42M | $436K FY2025 | $108M | 64 64 → 155 (+142%) · sector median +87% | Cart FunctionalityNode.jsYouTube+14 | Top 5M | — | — |
| 43 | Sign3 Provider of AI-powered fraud prevention and risk management solutions for financial institutions 19AI top 45%Talent top 45%Moat bottom 48%Funding bottom 43% All 7 signals ▾AItop 45% Talenttop 45% Moatbottom 48% Fundingbottom 43% Globalbottom 36% Marketbottom 32% Fin. healthbottom 21% AI: Product described with: ai-powered Talent: 2 named leaders on record rank vs industry peers · Fliar Intelligence Index 19/100 | $2M | $362K FY2025 | — | — | — | — | — | 1 job opening |
| 44 | SalarySe Fintech platform providing financial products including credit cards and salary advances 69Growth top 11%News top 25%Tech top 29%Talent top 30% All 10 signals ▾Growthtop 11% Newstop 25% Techtop 29% Talenttop 30% Fundingtop 35% Moattop 37% Productbottom 45% Marketbottom 43% Fin. healthbottom 42% Globalbottom 39% Growth: Revenue +152% YoY · Web rank 5,000,000 → 500,000 YoY News: 6 BI events in 12 mo (of 16 tracked, 3 types) · +500% YoY rank vs industry peers · Fliar Intelligence Index 69/100 | $5M | $277K FY2025 | $15M | 38 38 → 88 (+132%) · sector median +87% | TurbopackEmotionNode.js+21 | Top 500k | 6 signals ▲500% Leadership · Funding | — |
| 45 | 7 Ring NFC-enabled wearable ring for contactless payments 42Growth top 20%Talent top 28%Tech top 46%Moat top 47% All 9 signals ▾Growthtop 20% Talenttop 28% Techtop 46% Moattop 47% Fundingbottom 42% Productbottom 40% Fin. healthbottom 36% Globalbottom 32% Marketbottom 30% Growth: Revenue +98% YoY · Web rank 5,000,000 → 1,000,000 YoY Talent: 3 named leaders on record · 3 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 42/100 | $250K | $142K FY2025 | $3M | — | Cart FunctionalityWebflowNode.js+15 | Top 1M | — | — |
| 46 | SaveSage Platform that offers strategies for saving money along with credit card rewards and loyalty programs 35Growth top 16%Tech top 44%Talent bottom 49%Funding bottom 47% All 10 signals ▾Growthtop 16% Techtop 44% Talentbottom 49% Fundingbottom 47% Productbottom 40% Fin. healthbottom 38% Customersbottom 38% Moatbottom 38% Globalbottom 32% Marketbottom 18% Growth: Revenue +7787% YoY · App-install growth +500% YoY Tech: 21 technologies across 5/8 capability areas · Cloud: Amazon Web Services, Google Cloud rank vs industry peers · Fliar Intelligence Index 35/100 | $284K | $31K FY2025 | $2M | — | Node.jsFacebook LoginUbuntu+16 | Top 5M | — | 1 internship |
| 47 | Orbit Wallet NFC-enabled relodable prepaid card payment solution for individuals 37Growth top 21%Talent top 35%Tech top 49%Funding bottom 46% All 9 signals ▾Growthtop 21% Talenttop 35% Techtop 49% Fundingbottom 46% Productbottom 40% Fin. healthbottom 37% Moatbottom 35% Globalbottom 29% Marketbottom 15% Growth: Revenue +49965164% YoY · Fresh capital in last 24 mo Talent: 3 named leaders on record rank vs industry peers · Fliar Intelligence Index 37/100 | $204K | $18K FY2025 | $2M | — | ReactReact RouterGSAP+11 | Top 10M | — | — |
| 48 | RentenPe Ecosystem that allows users to build and monitise their credit history through rentals 19Growth top 28%Tech top 41%Talent bottom 49%Funding bottom 43% All 9 signals ▾Growthtop 28% Techtop 41% Talentbottom 49% Fundingbottom 43% Productbottom 40% Globalbottom 30% Moatbottom 28% Marketbottom 14% Fin. healthbottom 8% Growth: Web rank 10,000,000 → 5,000,000 YoY · Fresh capital in last 24 mo Tech: 39 technologies across 4/8 capability areas · Cloud: Azure, Cloudflare rank vs industry peers · Fliar Intelligence Index 19/100 | $2M | $3K FY2024 | — | — | Windows ServerAnimate.cssBootstrap+28 | Top 5M | — | — |
| 49 | Zynk Provider of infrastructure for instant global settlements and money transfers 24Talent top 28%Global top 46%Funding top 48%Market bottom 25% All 4 signals ▾Talenttop 28% Globaltop 46% Fundingtop 48% Marketbottom 25% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Global: Legal entities in 2 countries: Singapore, United Kingdom · Investors from 1 country beyond India rank vs industry peers · Fliar Intelligence Index 24/100 | $5M | — | — | — | — | Top 50M | — | — |
| 50 | Decentro Provider of API platform offering banking integration solutions for fintech companies 62Tech top 25%Product top 31%Talent top 33%Innovation top 38% All 11 signals ▾Techtop 25% Producttop 31% Talenttop 33% Innovationtop 38% Moattop 39% Fundingtop 42% Growthtop 43% Markettop 47% Globaltop 48% Fin. healthbottom 37% Newsbottom 20% Tech: 41 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 Product: 1 product launch event in 12 mo, 1 the year before · 3 distinct product lines rank vs industry peers · Fliar Intelligence Index 62/100 | $5M | — | — | 71 | Apple iCloud MailGoogle WorkspaceJava+15 | Top 500k | — | 1 launch |
Top 12 Payments companies in India
#1
CRED 🦄Series G · Bengaluru, Karnataka · founded 2018 · 915 employees$865.6Mraised▾
CRED 🦄
Series G · Bengaluru, Karnataka · founded 2018 · 915 employees
Fintech platform that rewards users for paying credit card bills on time. It operates a members-only financial rewards platform focused on creditworthy users. The app primarily allows users to pay their credit card bills while earning rewards such as cashback, discount offers, and access to exclusive brand experiences. It also functions as a personal credit management tool. It helps users track multiple credit cards, monitor spending behavior, receive due-date reminders, and analyze credit score trends.
Fliar Intelligence Index™ 92how this company ranks against its industry peers
Customers
top 9%Funding
top 15%Tech
top 15%Fin. health
top 16%Market
top 17%Moat
top 17%Customers: Play-Store rating 4.75★ across 2,962,978 ratings (2 apps) · Review volume +13% in 6 mo · Marquee-customer mentions: top 6% of tracked companies
Funding: Raised $866M across 12 rounds · 12 rounds over 8 yrs (1.5/yr) · Last round Angel (Mar 2026)
Tech: 46 technologies across 7/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 · Devops: Envoy
Audience (LinkedIn): 598k LinkedIn followers — 11.0% of this cohort's audience
Funding rounds
- Mar 2026Angel$2M
- May 2025Series G$75M
- Jul 2024Unattributed$2.4K
- Jun 2022Series F$140M
Founders & team
Investors
RTP Global, Ribbit Capital, Gemini Investment Management, MVision, Future Shape, Credence Partners
Tech stack
Amazon CloudfrontAmazon S3Amazon SesAmazon Web ServicesApolloApple Icloud Mail
#2
BharatPe 🦄Series E · Gurugram, Haryana · founded 2018 · 898 employees$604Mraised▾
BharatPe 🦄
Series E · Gurugram, Haryana · founded 2018 · 898 employees
Provider of payment solutions, lending, and investment opportunities for businesses. It offers tools for payment acceptance, including QR codes and card payment devices. Additionally, it facilitates business loans and provides an investment platform. The company aims to support businesses with financial products.
Fliar Intelligence Index™ 84how this company ranks against its industry peers
Funding
top 15%Customers
top 15%Moat
top 17%Talent
top 20%Market
top 23%Innovation
top 27%Funding: Raised $604M across 17 rounds · 17 rounds over 8 yrs (2.1/yr) · Last round Conventional Debt (Mar 2026)
Customers: Play-Store rating 4.25★ across 969,899 ratings (1 apps) · Review volume +59% in 6 mo · Marquee-customer mentions: top 10% of tracked companies
Moat: Top 1% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 9/10 · Unicorn
Audience (LinkedIn): 354k LinkedIn followers — 6.5% of this cohort's audience
Activity (LinkedIn): 2 awards announced in 12 mo
Funding rounds
- Mar 2026Conventional Debt$10M
- May 2025Conventional Debt$15M
- Jul 2024Venture Debt$10.2M
- Jan 2024Venture Debt$100M
Founders & team
Investors
Coatue, Ribbit Capital, Amplo, Insight Partners, Steadview, Grace Software Holdings
Tech stack
A3 Lazy LoadAmazon CloudfrontAmazon S3Amazon Web ServicesAnimate.CssAos
#3
Series E · Bengaluru, Karnataka · founded 2002 · 204 employees$137Mraised▾
Series E · Bengaluru, Karnataka · founded 2002 · 204 employees
Provider of payment and revenue assurance software for retail businesses. The company offers platforms for payment acceptance, revenue protection, and reconciliation. It provides a sales acceleration platform for mobile dealers, enabling inventory turnover and access to incentives. The business also offers a payment collection application for merchants to accept payments without point-of-sale systems.
Fliar Intelligence Index™ 57how this company ranks against its industry peers
Moat
top 21%Funding
top 24%Tech
top 24%Product
top 30%Market
top 40%News
top 40%Moat: Top 4% by revenue among 176 tracked In Store Retail Tech companies · Editorial + unicorn rating 8/10 · Soonicorn
Funding: Raised $137M across 22 rounds · 22 rounds over 20 yrs (1.1/yr) · Last round Series E (Feb 2026)
Tech: 54 technologies across 6/8 capability areas · Cloud: Cloudflare · Devops: Nginx
Audience (LinkedIn): 33k LinkedIn followers
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
- Feb 2026Series E$11.4M
- Nov 2025Series E$902.3K
- Feb 2025Series E$5.3M
- Aug 2024Conventional Debt—
Founders & team
Investors
Titan Company, Krishnan Consulting, Calderstone, Masterkey Holdings, Aurora Borealis Consulting, Providence Investment Company
Tech stack
AdjustAmchartsApache Http ServerBootstrapCart FunctionalityCdnjs
#4
Series D · Chennai, Tamil Nadu · founded 2008 · 943 employees$125.7Mraised▾
Series D · Chennai, Tamil Nadu · founded 2008 · 943 employees
Online platform providing tools for comparing and applying for financial products. It offers resources for credit cards, loans, and investment options. The platform enables users to assess eligibility and calculate payments. It also provides access to credit scores and related reports.
Fliar Intelligence Index™ 69how this company ranks against its industry peers
Customers
top 21%Moat
top 22%Funding
top 24%Market
top 26%Talent
top 28%Product
top 29%Customers: Play-Store rating 4.42★ across 144,966 ratings (1 apps) · Review volume +2% in 6 mo · Marquee-customer mentions: top 10% of tracked companies
Moat: Top 6% by revenue among 363 tracked Banking Tech companies · Editorial + unicorn rating 8/10 · Soonicorn
Funding: Raised $126M across 11 rounds · 11 rounds over 18 yrs (0.6/yr) · Last round Series D (Feb 2026)
Audience (LinkedIn): 50k LinkedIn followers
Funding rounds
- Feb 2026Series D$441.4K
- Dec 2025Venture Debt$2.2M
- Apr 2025Series D$6.4M
- Oct 2024Series D$1.9M
Founders & team
Investors
Eight Roads Ventures, The Alexa Fund, Walden International, Amazon, GUS Holdings, Peak XV Partners
Tech stack
Amazon AlbAmazon Web ServicesApple Icloud MailCloudflareCore-JsDigicert
#5
OneCard 🦄Series D · Pune, Maharashtra · founded 2019 · 997 employees$233.6Mraised▾
OneCard 🦄
Series D · Pune, Maharashtra · founded 2019 · 997 employees
Provider of metal credit cards with a mobile application interface. The credit cards offer rewards on spending and options for managing transactions. The application allows users to control card usage and track spending. It also provides options for converting purchases into installments.
Fliar Intelligence Index™ 80how this company ranks against its industry peers
Customers
top 13%Funding
top 17%Moat
top 17%Market
top 20%Talent
top 23%Product
top 36%Customers: Play-Store rating 4.61★ across 610,947 ratings (1 apps) · Review volume +14% in 6 mo · Marquee-customer mentions: top 17% of tracked companies
Funding: Raised $234M across 10 rounds · 10 rounds over 7 yrs (1.4/yr) · Last round Venture Debt (Dec 2025)
Moat: Top 1% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 9/10 · Unicorn
Funding rounds
- Dec 2025Venture Debt$4.5M
- Nov 2024Series D$28.5M
- Mar 2024Series D$918.4K
- Jan 2024Venture Debt$11.4M
Founders & team
Investors
Temasek, GIC, QED Investors, Hummingbird Ventures, Ocean View Investment, Sarv Investment
Tech stack
Amazon AdvertisingAmazon CloudfrontAmazon S3Amazon SesAmazon Web ServicesAmazon Webstore
#6
Series C · Bengaluru, Karnataka · founded 2022 · 83 employees$32.1Mraised▾
Series C · Bengaluru, Karnataka · founded 2022 · 83 employees
Provider of credit cards and a platform for travel bookings. The platform facilitates rewards on card spends across various merchants. It also allows users to book stays, flights, buses, and trains. The credit cards offer benefits such as lounge access and zero forex markup.
Fliar Intelligence Index™ 64how this company ranks against its industry peers
Growth
top 21%Moat
top 30%Funding
top 31%News
top 37%Tech
top 38%Product
top 40%Growth: Headcount 52 → 83 (+60%) across vintages · Revenue +67% YoY · Web rank 500,000 → 50,000 YoY
Moat: Top 21% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 7/10 · Soonicorn
Funding: Raised $32.1M across 4 rounds · 4 rounds over 4 yrs (1.0/yr) · Last round Series C (May 2026)
Audience (LinkedIn): 72k LinkedIn followers
Activity (LinkedIn): 1 product launches announced in 12 mo
Funding rounds
- May 2026Series C$63M
- Apr 2025Series B$40M
- Nov 2023Series A$23M
- Jun 2022Seed$9.1M
Founders & team
Investors
Tanglin Venture Partners, Z47, Three State Capital, Elevation Capital, Peak XV Partners, 3 State Ventures
Tech stack
Amazon AdvertisingAmazon CloudfrontAmazon Web ServicesAmazon WebstoreApple Icloud MailCloudinary
#7
Juspay 🦄Series D · Bengaluru, Karnataka · founded 2012 · 969 employees$88Mraised▾
Juspay 🦄
Series D · Bengaluru, Karnataka · founded 2012 · 969 employees
Provider of payments infrastructure solutions. It a leading multinational payments technology company, powering superior conversion rates, seamless customer experiences, cost optimization, and fraud reduction at scale for 500+ top global enterprises and banks. Founded in 2012, the company processes over 300 million daily transactions, exceeding an annualized total payment volume (TPV) of $1 trillion with 99.999% reliability. Headquartered in Bangalore, India, Juspay’s global network of 1,500+ payment experts operates across Dubai, Dublin, San Francisco, São Paulo, and Singapore.
Fliar Intelligence Index™ 84how this company ranks against its industry peers
Customers
top 13%Fin. health
top 23%Funding
top 24%Market
top 25%Moat
top 25%Tech
top 30%Customers: App rating 4.8★ (132,476 reviews) · Marquee-customer mentions: top 30% of tracked companies
Fin. health: Revenue ~$63.8M (FY2025) · Net margin 13.0% · Revenue +55% YoY
Funding: Raised $88.0M across 5 rounds · 5 rounds over 11 yrs (0.5/yr) · Last round Series D (Jan 2026)
Audience (LinkedIn): 255k LinkedIn followers — 4.7% of this cohort's audience
Activity (LinkedIn): 2 product launches · 6 partnerships (incl. Buddy by Breeze) announced in 12 mo
Funding rounds
- Jan 2026Series D$28M
- Apr 2025Series D$45M
- Dec 2021Series C$60M
- Mar 2020Series B$21.6M
Founders & team
Investors
VEF, Wellington, Accel, SoftBank Vision Fund, Kedaara, WestBridge Capital
Tech stack
Amazon CloudfrontAmazon PayAmazon S3Amazon SesAmazon Web ServicesAstro
#8
Series C · Mumbai, Maharashtra · founded 2019 · 415 employees$167.2Mraised▾
Series C · Mumbai, Maharashtra · founded 2019 · 415 employees
Online platform offering a suite of financial services. It offers a range of services, including banking, credit cards, lending, and investments. It allows users to manage all aspects of their money in one place.
Fliar Intelligence Index™ 72how this company ranks against its industry peers
Tech
top 12%News
top 18%Customers
top 20%Moat
top 24%Funding
top 25%Partners
top 26%Tech: 59 technologies across 7/8 capability areas · Cloud: Amazon Cloudfront, Amazon Web Services · Devops: Envoy, Nginx
News: 7 BI events in 12 mo (of 16 tracked, 5 types) · +600% YoY · 4 high-value events (IPO/M&A/funding/contracts) in 12 mo
Customers: Play-Store rating 4.31★ across 607,214 ratings (1 apps) · Review volume +9% in 6 mo · Marquee-customer mentions: top 13% of tracked companies
Audience (LinkedIn): 236k LinkedIn followers — 4.4% of this cohort's audience
Funding rounds
- Oct 2025Series C$15M
- Jun 2024Series C$21.6M
- Mar 2023Series C$849.2K
- Dec 2022Venture Debt$12.1M
Founders & team
Investors
Hummingbird Ventures, Bedrock, PICO Partners, Patni Financial Advisors, 3one4 Capital, Greyhound Capital
Tech stack
Amazon CloudfrontAmazon Web ServicesApolloAws Certificate ManagerCloudflareCloudflare Bot Management
#9
Navi 🦄Series B · Bengaluru, Karnataka · founded 2012 · 698 employees$427.3Mraised▾
Navi 🦄
Series B · Bengaluru, Karnataka · founded 2012 · 698 employees
Provider of financial products including UPI, loans, insurance, and mutual funds. The company facilitates payments, investments, and access to credit and coverage options. It offers tools for managing finances and planning investments. The platform provides options for individuals seeking loans, insurance coverage, and investment opportunities. It aims to simplify financial processes through its application.
Fliar Intelligence Index™ 78how this company ranks against its industry peers
Customers
top 10%Moat
top 17%Innovation
top 20%Market
top 21%Funding
top 21%Tech
top 29%Customers: Play-Store rating 4.47★ across 5,633,904 ratings (1 apps) · Marquee-customer mentions: top 17% of tracked companies
Moat: Top 1% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 8/10 · Unicorn
Innovation: 6 new-product events in 24 mo · Deep-tech classification: Blockchain
Audience (LinkedIn): 736k LinkedIn followers — 13.6% of this cohort's audience
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: data teams
Activity (LinkedIn): 2 awards announced in 12 mo
Funding rounds
- Jul 2025Conventional Debt$20M
- May 2024Convertible Debt$18M
- Nov 2020Angel$33.9K
- Apr 2020Series B$26.9M
Founders & team
Investors
Gaja Capital, PhillipCapital, NDX Financial Services, Arpee Group, Ambit, Grey Grass India
Tech stack
Amazon S3Amazon SesAmazon Web ServicesCloudflareCore-JsEmotion
#10
Series A · Mumbai, Maharashtra · founded 2017 · 134 employees$40Mraised▾
Series A · Mumbai, Maharashtra · founded 2017 · 134 employees
Digital payments and engagement solutions for MSMEs. The company provides omnichannel payment solutions, a smart processing solution, tools for retailers to track credit transactions, and more. It also offers services like customer recognition, feedback and ratings, analytics, insights, and more.
Fliar Intelligence Index™ 69how this company ranks against its industry peers
Customers
top 22%Talent
top 23%Moat
top 31%Funding
top 32%Fin. health
top 33%Growth
top 38%Customers: App rating 4.6★ (139,511 reviews) · Review volume +1% in 6 mo · Marquee-customer mentions: top 30% of tracked companies
Talent: 5 named leaders on record · 5 C-suite/founder profiles curated
Moat: Top 12% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 5/10 · 9 curated direct competitors tracked
Audience (LinkedIn): 11k LinkedIn followers
Activity (LinkedIn): 1 product launches · 2 partnerships · 1 expansions (incl. Visa) announced in 12 mo
Funding rounds
- Dec 2025Series A$5.9M
- Jan 2023Series A$20M
- Aug 2021Seed$1.4M
- Apr 2021Angel$183.9K
Founders & team
Investors
Pravega Ventures, Pg Paper Company Ltd, HDFC Bank, PayPal, British International Investment, White Whale Partners
Tech stack
CdnjsCloudflareFont AwesomeGodaddyGoogle AnalyticsGoogle Font Api
#11
Series C · Bengaluru, Karnataka · founded 2012 · 269 employees$30.6Mraised▾
Series C · Bengaluru, Karnataka · founded 2012 · 269 employees
Provider of rewards and loyalty platform that enables businesses to run employee engagement, customer loyalty, and incentive programs. It provides tools to create and manage rewards, recognition, and payout workflows across use cases such as employee engagement, sales incentives, customer loyalty, and channel partner programs. It offers a global rewards marketplace with millions of redemption options across multiple countries, currencies, and languages. It supports flexible deployment, enterprise-grade security, and integrations with widely used business systems such as HR, CRM, collaboration, and marketing automation tools.
Fliar Intelligence Index™ 74how this company ranks against its industry peers
Tech
top 18%Talent
top 25%Funding
top 30%Product
top 32%Innovation
top 33%Fin. health
top 33%Tech: 82 technologies across 6/8 capability areas · Cloud: Amazon S3, Amazon Web Services · Devops: Varnish
Talent: Analyst team rating 4/5 · 5 named leaders on record · 5 C-suite/founder profiles curated
Funding: Raised $30.6M across 5 rounds · 5 rounds over 13 yrs (0.4/yr) · Last round Series C (Jan 2026)
Audience (LinkedIn): 72k LinkedIn followers
Funding rounds
- Jan 2026Series C—
- Feb 2025Series B$70M
- Feb 2022Series A$30M
- Oct 2016Seed$465.6K
Founders & team
Investors
Mahindra, Giift, Apis Partners, 57 Stars, Shiksha Infotech, GSD Venture Studios
Tech stack
Amazon S3Amazon Web ServicesAngularjsBabelBootstrapCart Functionality
#12
Series D · Chennai, Tamil Nadu · founded 2014 · 1078 employees$183.4Mraised▾
Series D · Chennai, Tamil Nadu · founded 2014 · 1078 employees
Provider of APIs enabling banking, lending, and payment financial services. The company offers solutions for customer onboarding, core banking systems, and payment processing. It facilitates card issuance, core lending, and digital commerce. The company provides tools for regulatory compliance, fraud management, and rewards programs. It also offers value-added services, including reconciliation, KYC, and anti-money laundering solutions.
Fliar Intelligence Index™ 84how this company ranks against its industry peers
Tech
top 14%Funding
top 20%Moat
top 21%Market
top 27%Innovation
top 28%Product
top 29%Tech: 59 technologies across 7/8 capability areas · Cloud: Amazon S3, Amazon Ses · Devops: Nginx
Funding: Raised $183M across 11 rounds · 11 rounds over 6 yrs (1.8/yr) · Last round Series D (Jun 2025)
Moat: Top 4% by revenue among 743 tracked Payments companies · Editorial + unicorn rating 8/10 · Soonicorn
Audience (LinkedIn): 78k LinkedIn followers
Activity (LinkedIn): 1 partnerships (incl. INDcredit) announced in 12 mo
Funding rounds
- Jun 2025Series D$3.5M
- Sep 2024Series D$70M
- Jul 2024Series C$836.2K
- Apr 2024Venture Debt$4.2M
Founders & team
Investors
Anicut Capital, Flourish, Omidyar Network India, Beenext, Better Capital, DMI Finance
Tech stack
AlbacrossAmazon S3Amazon SesAmazon Web ServicesAnimate.CssAos
Funding & investor landscape
$13Btotal disclosed funding
270companies funded
864disclosed rounds
3rounds last 90 days
Most active investors
QED Innovation Labs13 rounds
Notable founders
Kunal Shah
Founder & CEO · CRED
Shashvat Nakrani
Co-Founder & COO · BharatPe
Rajnish Kumar
Chairman · BharatPe
Rajeev Agrawal
Founder & CEO · Innoviti
Rati Shetty
Co-Founder & CPO · BankBazaar
Adhil Shetty
Co-Founder & CEO · BankBazaar
Anurag Sinha
Co-Founder & CEO · OneCard
Vibhav Hathi
Co-Founder · OneCard
Anil Goteti
Founder & CEO · Scapia
Sheetal Lalwani
Co-Founder & COO · Juspay
Vivekananthamoorthy Vimalkumar
Co-Founder & CEO · Juspay
Vishnu Jerome
Co-Founder · Jupiter
Prism market signals · India · country-scoped Prism corpus, 245,398 docs
Market landscape — 10 sub-themes by coverage
Share of Payments coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH SIGNALS · India
How research on Digital Payments is moving in India
A read on the academic research around Digital Payments — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 1,602 India-affiliated papers.
research sentiment over time
200920182026
enthusiastic · positive · guarded tone
Tone is overwhelmingly optimistic and intensifying — the enthusiastic (strongly-positive) share moved 26% → 45% across 2009–2026.
top research entities
- G.S. Science, Arts And Commerce College87
- Symbiosis International University42
- University of Delhi41
- Jain University31
- Amity University28
leading researchers
V. N. Sastry · Vibha Kaw Raina · Shaik Shakeel Ahamad · B Ravi Prasad · Abhishek Kumar · Shilpa Aggarwal · Siba K. Udgata · Kare, Dipak Nivrutti
▲
Breakthroughs167 · 10%
▼ 13%→11% share
▼0.8× share momentum0 median citations77% since 2021mostly methods-led
Blockchain research newly emerged with 11 papers, while Payment system output surged 4→31, signaling infrastructure-layer innovation intensifying.
rising sub-themes (early→recent)
- Payment system4→31
- Database transaction4→23
- Mobile payment15→28
- Payment service provider3→16
- Cash1→11
Newly emergingTransparency (behavior) 0→14 · Interface (matter) 0→13 · Blockchain 0→11
Landmark Behavioural intention to adopt mobile wallet: a developing country perspective · 321 cites
◆
Advancements511 · 32%
▼ 35%→32% share
▼0.9× share momentum0 median citations75% since 2021mostly empirical
Financial inclusion research exploded 2→96 papers, reflecting India's unbanked-population focus rapidly reshaping digital payments advancement agenda.
rising sub-themes (early→recent)
- Mobile payment42→161
- Financial inclusion2→96
- Financial services1→61
- Database transaction5→56
- Mobile banking5→36
Newly emergingGovernment (linguistics) 0→35 · FinTech 0→33 · Unbanked 0→20
Landmark Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups for mobile paymen · 595 cites
▼
Concerns405 · 25%
26%→26% share
▲1.0× share momentum0 median citations75% since 2021mostly empirical
FinTech risk newly entered concerns at 36 papers; Mobile payment concerns tripled 25→141, flagging security and regulatory scrutiny intensifying.
rising sub-themes (early→recent)
- Mobile payment25→141
- Financial inclusion2→69
- Financial services2→51
- Database transaction8→41
- Government (linguistics)6→39
Newly emergingFinTech 0→36 · Digital currency 0→20 · Cryptocurrency 0→13
Landmark Mobile banking and economic development: linking adoption, impact, and use · 472 cites
RESEARCH HOTSPOTS · India
Where digital payments is researched across India
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Delhi-NCR83 · +0.15
Pune59 · +0.27
Chennai44 · +0.39
Hyderabad27 · +0.45
Bengaluru20 · +0.40
Ahmedabad10 · +0.33
Mumbai9 · +0.31
Kolkata7 · +0.26
Varanasi7 · +0.43
PATENT SIGNAL · India
Who's filing digital payments patents in India
India digital payments patent filing is accelerating — 39 filings from 56 assignees (2017–2025), led by NAT Payments Of India, Tripathi Brijesh, Gupta Pritesh; annual filings 3→4.
39 filings56 assigneespeak 6/yr2017–2025
filing momentum (YoY 2017–2025)
top patent filers
- NAT Payments Of India21
- Tripathi Brijesh4
- Gupta Pritesh4
- DAS Pranamesh4
- APE Payment OY4
- Sharma Anubhav2
- Talent Unltd Online Services2
- Pardhasarthy Mahesh Bhupathi2
Common questions
How many Payments companies are there in India?
Radar tracks 1203 indexable Payments companies headquartered in India, India, that meet our profile-completeness bar.
What is the total funding raised by Payments companies in India?
The Payments companies in India on this list have raised a combined $13B in disclosed equity funding across 270 funded companies.
Which is the highest-funded Payments company in India?
Paytm is the highest-funded Payments company in India, with $3.5B in disclosed equity funding.
How many Payments companies in India are funded?
270 of the 1203 Payments companies in India on this list have disclosed at least one equity funding round.
How many Payments unicorns are there in India?
12 Payments companies in India on this list are valued at $1B or more.
Who are the top investors in India Payments companies?
The most active investors in India Payments companies on this list include Angel List, Peak XV Partners, Y Combinator, Beenext, LetsVenture.
Riya SenguptaFinancials
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.