Company lists
The Karnataka edition · 2026

Paymentscompanies in Karnataka

Online payments, bill payments & wallets, business payments, banking & embedded finance, POS & retail payments and more: the companies building payments in Karnataka, with their founders, funding, team size and business models.

219 company profiles87 with reported revenue64 with recorded fundingOctober 2026 edition
Karnataka · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent payments business events in Karnataka

Funding, M&A, contract wins and launches involving 353 payments companies in Karnataka, last 24 months: 22 funding rounds · 18 launches · 4 M&A deals · 1 Contract. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Apr 2026.

LaunchPayment Aggregator

Cred

Recently, CRED received a nod from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA), enabling the company to onboard merchants, collect payments on their behalf…

Payment service
Funding

Scapia

Scapia, a Bengaluru-based travel fintech that issues co-branded credit cards, is in talks to raise US$50‑60 million in a round led by US VC General Catalyst, people familiar with the…

Fintech
ContractInfrastructure

Cowrks · client: Cashfree payments

New Delhi: Real estate firm COWRKS, which provides managed office spaces, has leased 80,000 sq ft area in Bengaluru to Cashfree Payments.

Real Estate
LaunchWorld’s First Agent Studio

Razorpay

Razorpay announced the launch of the “World’s First Agent Studio”, built using the Claude Agent SDK from Anthropic, at Razorpay’s flagship event, FTX’2026, in India on 12 March 2026.

B2B agent marketplace and builder platform
Funding

Innoviti

Another notable deal came from fintech startup Innoviti, which secured $11.4 million in funding from investors including Bessemer Venture Partners, along with several angel investors and…

Investors Bessemer venture partners, Several angel investors, Family offices
Fintech
FundingSeries M

Innoviti

Fintech soonicorn Innoviti has closed its Series M funding round at ₹104 Cr ($11.4 Mn).

Investors Bessemer venture partners, Ola Electric backer Ashutosh Joshi, Arihant Patni of Patni Family Office, JuliaHub cofounder Deepak Vinchhi
Fintech
Funding

Xflow

Notably, earlier this week, General Catalyst also led a $16.6 million funding round in B2B cross-border payments startup Xflow.

B2B cross-border payments
Funding

Tonetag

Bengaluru-based Tonetag, a deeptech startup which focusses on sound-based payment systems, has raised Rs 35.16 crore ($3.8 million) from Qualcomm Ventures, according to documents…

Payments
FundingSeries D Follow-on

Juspay

Bengaluru-based payments infrastructure firm Juspay has secured $50 million in a Series D follow-on round led by WestBridge Capital, valuing the company at $1.2 billion.

Payments infrastructure
FundingSeries C

Xoxoday

Xoxoday, a global rewards, incentives, and Loyalty technology company, has raised a Series C round backed by its existing investors – Apis Partners & 57 Stars, marking a key milestone as…

Rewards, Incentives & Loyalty technology
LaunchCRED Money

Cred

Working along similar lines, but exclusively for individuals, CRED has already introduced a feature called CRED Money.

Personal Finance Management Feature
FundingSeries A

Skydo

Indian cross-border payments startup Skydo has secured approximately ₹90 crore (about US $10 million) in a Series A funding round to bolster its global payment solutions and expand…

Investors Susquehanna Asia Venture Capital (SIG), Elevation capital, Eximus Ventures
FinTech
LaunchAgentic payments

Razorpay

Combining Razorpay’s strength in digital finance, NPCI’s UPI infrastructure and OpenAI’s AI models, the trio have partnered to launch agentic payments on ChatGPT and explore AI-driven…

AI‑powered Shopping
LaunchReserve Pay

Navi

Navi announced two new UPI features today based on yesterday’s UPI product launches. Reserve Pay and EV Recharge via Banking Connect will now soon be featured on Navi’s app.

UPI Feature
LaunchAgentic Payments MCP

Cashfree payments

Cashfree Payments Unveils Agentic Payments

AI‑powered Payment
LaunchTWID UPI App

Twid

Rewards-based payment startup TWID announced the launch of its UPI App that allows users to make both online and offline purchases using their accumulated reward points from various…

Payment App
Launch

Cashfree payments

Businesses that get onboarded on Cashfree Payments by 31st December 2025 will be able to access its payment gateway solutions at 1.6%, valid for the next one full year.

Launch"Travel now, pay later" (TNPL)

Scapia

Peak XV-backed travel-focused fintech startup Scapia has also seen increasing interest from Gen Z for its travel now, pay later (TNPL|) offering.

Fintech payment plan
FundingDebt funding

Navi technologies

Fintech unicorn Navi Technologies has secured ₹170 crore (approximately $20 million) through a debt funding round led by PhillipCapital, with participation from NDX Finserve, Arpee…

Investors Phillipcapital, NDX Finserve, Arpee Group, Ambit finvest
Fintech
Funding

Yethi Consulting

Yethi Consulting, an expert in quality engineering solutions for the BFSI industry, has announced a new round of funding led by Baring Private Equity Partners India. Existing investors…

Banking and Financial Services
FundingSeries D

Juspay

Payment infrastructure company Juspay has raised $60 million as part of its Series D funding round in a combination of primary and secondary investments. Kedaara Capital led this…

Payments infrastructure
M&AAcquisition · Announced

Perfios acquires Clari5

Perfios, India’s B2B SaaS TechFin, has announced the acquisition of Clari5 (CustomerXPs), a specialist in banking financial crime management.

FinTech
M&AAcquisition · Announced

Makemytrip acquires Happay

On 17 November 2024, online travel agency MakeMyTrip announced that it would purchase CRED's Happay Expense Management Platform.

M&AAcquisition · Announced

Makemytrip acquires Cred

MakeMyTrip, an online travel company, on Monday said that it has signed a business transfer agreement to acquire Happay’s expense management platform from CRED for an undisclosed amount.

Fintech
FundingEquity

Tonetag

Amazon-backed payments Tonetag is in talks with Iron Pillar for raising at least $50 million (about Rs 420 crore approx.)

Investors Iron pillar, Na
Payments / FinTech

Payments companies in Karnataka, by revenue

Browse payments companies in Karnataka by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 87 payments companies in Karnataka that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

App-based platform for consumer bill payments

Payments
₹28,681.64 crFY 2024-25
-2%2024–2025
758-2% 12 mo to Aug 2024recorded Aug 2024
26 yr2000
0none in 3 months

Provider of payment and business banking solutions for enterprises

Payments
₹3,932.11 crFY 2024-25
+60%2024–2025
4,027LinkedIn · Oct 2026
12 yr2014
13postings · last posted Sep 2026

Provider of financial products including UPI, loans, insurance, and mutual funds

Payments
₹2,689.14 crFY 2024-25
-4%2024–2025
3,457-8% 12 mo to Aug 2024LinkedIn · Oct 2026
14 yr2012
16postings · last posted Sep 2026

Fintech platform that rewards users for paying credit card bills on time

Payments
₹2,473.39 crFY 2023-24
+67%2023–2024
2,253-9% 12 mo to Sep 2024LinkedIn · Oct 2026
8 yr2018
3postings · last posted Sep 2026

A fintech company offering banking networks and smart card manufacturing solutions

Payments
₹1,120.27 crFY 2024-25
+7%2024–2025
475LinkedIn · Oct 2026
18 yr2008
0none in 3 months · last posted Jun 2026

Provider of rewards, recognition, loyalty, incentives, and payout program solutions

Hrtech
₹993.46 crFY 2024-25
+12%2024–2025
707-17% 12 mo to Aug 2024LinkedIn · Oct 2026
14 yr2012
11postings · last posted Aug 2026

Provider of software solutions, IT services, and financial inclusion products

Payments
₹770.69 crFY 2023-24
+40%2023–2024
865LinkedIn · Jul 2026
44 yr1982
0none in 3 months · last posted Feb 2026

Provider of payment gateway and payouts, and identity verification services

Payments
₹640.74 crFY 2024-25
-1%2024–2025
983-8% 12 mo to Jul 2024LinkedIn · Oct 2026
11 yr2015
4postings · last posted Sep 2026

Provider of online supermarket services for small-town retailers

Payments
₹360.78 crFY 2024-25
+45%2024–2025
223-19% 12 mo to Sep 2024LinkedIn · Oct 2026
14 yr2012
0none in 3 months · last posted Jun 2026

Provider of digital financial products and services

Payments
₹229.19 crFY 2024-25
-14%2024–2025
122-67% 12 mo to Aug 2023recorded Aug 2023
11 yr2015
0none in 3 months

Provider of spend management suite

Payments
₹202.24 crFY 2023-24
Not reported
6+49% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Provider of quality assurance and testing automation services for banking and financial services industries

Payments
₹153.33 crFY 2024-25
+19%2024–2025
1,309+9% 12 mo to Sep 2024LinkedIn · Oct 2026
13 yr2013
0none in 3 months · last posted Jun 2026

Provider of payment and revenue assurance software for retail businesses

In store retail tech
₹144.45 crFY 2024-25
+32%2024–2025
623-30% 12 mo to Sep 2024LinkedIn · Oct 2026
24 yr2002
1postings · last posted Aug 2026

Provider of a gold rewards credit card program

Payments
₹95.23 crFY 2024-25
-5%2024–2025
316+24% 12 mo to Sep 2024LinkedIn · Oct 2026
6 yr2020
0none in 3 months · last posted Jul 2026

Provider of profiling, payment, and privacy digital infrastructure solutions

Banking tech
₹93.17 crFY 2024-25
+124%2024–2025
88+42% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Apr 2026

It offers online bill payments, money transfers, and travel bookings

Logistics tech
₹90.83 crFY 2024-25
+6%2024–2025
—Not available
8 yr2018
0none in 3 months

Software solution provider to Financial services

Payments
₹87.17 crFY 2023-24
-11%2023–2024
483-16% 12 mo to Sep 2024LinkedIn · Oct 2026
14 yr2012
0none in 3 months · last posted Jul 2025

Provider of digital credit card bill payment and management services

Payments
₹86.13 crFY 2024-25
+433%2024–2025
155+35% 12 mo to Sep 2024LinkedIn · Oct 2026
4 yr2022
0none in 3 months

Online platform offering cross-border payment solutions using credit cards

Payments
₹71.15 crFY 2024-25
Not reported
9LinkedIn · Jul 2026
5 yr2021
0none in 3 months · last posted Mar 2026

Mobile app for money transfer and bill payments

Payments
₹63.68 crFY 2024-25
+96%2024–2025
68+38% 12 mo to Sep 2024LinkedIn · Oct 2026
3 yr2023
4postings · last posted Aug 2026

Provider of international payment and corporate expense management solutions

Digital remittance
₹55.87 crFY 2024-25
+142%2024–2025
137-4% 12 mo to Sep 2023LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Provider of credit cards secured by fixed deposits with credit bureau reporting

Payments
₹52.13 crFY 2024-25
+1483%2024–2025
22recorded Aug 2024
4 yr2022
0none in 3 months · last posted Nov 2024

Provider of payment solutions using proximity, AI agents, and IoT

Payments
₹47.82 crFY 2023-24
Not reported
197-14% 12 mo to Jan 2024LinkedIn · Oct 2026
13 yr2013
0none in 3 months · last posted Jun 2026

Bill payment platform for businesses

Payments
₹42.05 crFY 2024-25
+369%2024–2025
72+57% 12 mo to Sep 2024LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Provider of credit cards and a platform for travel bookings

Payments
₹40.42 crFY 2024-25
+67%2024–2025
314+60% 12 mo to Sep 2024LinkedIn · Oct 2026
4 yr2022
0none in 3 months · last posted Jul 2026
50 of 219 companies shown here · the full list is on Radar
Fliar Radar

Explore all 219 payments companies in Karnataka on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open payments in Karnataka on Radar
  • Every company, not just 50All 219 payments companies in Karnataka, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore payments companies in Karnataka by what you are looking for

Find top payments companies in Karnataka, from online payment gateways to bill payments and business payouts. Browse payments startups in Karnataka in one place.

9 ways to explore payments in Karnataka

Online payment gateways & digital payment companiesBill payments, wallets & prepaid card companiesB2B payments, payouts & spend management companiesBanking-as-a-service & embedded finance companiesPOS terminal & retail payment companiesCredit, lending & buy-now-pay-later companies

Online payment gateways & digital payment companies

Gateways and platforms for online and digital payments.

  1. Bijli Mitra

    App-based platform for consumer bill payments

    Payments
    See in list
  2. Razorpay

    Provider of payment and business banking solutions for enterprises

    Payments
    See in list
  3. CRED

    Fintech platform that rewards users for paying credit card bills on time

    Payments
    See in list
  4. Cashfree Payments

    Provider of payment gateway and payouts, and identity verification services

    Payments
    See in list
  5. OLA Money

    Provider of digital financial products and services

    Payments
    See in list

Bill payments, wallets & prepaid card companies

Utility bill payment, wallet and card providers.

  1. Bijli Mitra

    App-based platform for consumer bill payments

    Payments
    See in list
  2. CRED

    Fintech platform that rewards users for paying credit card bills on time

    Payments
    See in list
  3. Manipal Payment and Identity Solutions

    A fintech company offering banking networks and smart card manufacturing solutions

    Payments
    See in list
  4. Xoxoday

    Provider of rewards, recognition, loyalty, incentives, and payout program solutions

    Hrtech
    See in list
  5. ShakePe

    Provider of spend management suite

    Payments
    See in list

B2B payments, payouts & spend management companies

Business payments, payouts, invoicing and expense tools.

  1. Razorpay

    Provider of payment and business banking solutions for enterprises

    Payments
    See in list
  2. Xoxoday

    Provider of rewards, recognition, loyalty, incentives, and payout program solutions

    Hrtech
    See in list
  3. Karbon

    Provider of international payment and corporate expense management solutions

    Digital remittance
    See in list
  4. Vendor to pay

    B2B payment processing service provider

    Finance & accounting tech
    Website
  5. I-MADE

    Wallet app for students

    Payments
    Website

Banking-as-a-service & embedded finance companies

Banking infrastructure, open banking and embedded finance.

  1. Razorpay

    Provider of payment and business banking solutions for enterprises

    Payments
    See in list
  2. StoreKing

    Provider of online supermarket services for small-town retailers

    Payments
    See in list
  3. Neokred

    Provider of profiling, payment, and privacy digital infrastructure solutions

    Banking tech
    See in list
  4. Daytona Systems India

    Developer of an online remittance solutions for businesses

    Payments
    See in list
  5. paycorp.io

    Developer of an API-based banking platform

    Payments
    See in list

POS terminal & retail payment companies

Point-of-sale hardware and in-store payment solutions.

  1. Innoviti

    Provider of payment and revenue assurance software for retail businesses

    In store retail tech
    See in list
  2. Girmiti Software

    Software solution provider to Financial services

    Payments
    See in list
  3. UltraCash

    High frequency sound based money transfer company

    In store retail tech
    See in list
  4. OptiPace

    POS terminal to offer financial inclusion solutions

    Payments
    Website
  5. Forthcode

    Developer of cloud-based platforms for airlines and retail

    Payments
    Website

Credit, lending & buy-now-pay-later companies

Credit cards, B2B credit and point-of-sale financing.

  1. Navi

    Provider of financial products including UPI, loans, insurance, and mutual funds

    Payments
    See in list
  2. Rupifi

    Provider of B2B credit and checkout solutions for SMEs

    Payments
    See in list
  3. Hyperface

    Provider of platform for launching and managing credit card programs

    Alternative lending
    See in list
  4. RentenPe

    Ecosystem that allows users to build and monitise their credit history through rentals

    Payments
    Website
  5. Freo Pay

    App-based buy now pay later platform for consumers

    Payments
    Website

Payment fraud detection & compliance companies

Fraud prevention, authentication and regulatory technology.

  1. Evolvus

    Provider of data migration and integration solutions for banking and corporate clients

    Big data infrastructure
    See in list
  2. napID

    Offering financial fraud solutions

    Image recognition
    Website
  3. Transvision

    Anti-money laundering and analytics consulting solution for businesses

    Cybersecurity
    Website
  4. FacePay

    AI-based facial recognition solutions for payment gateway

    Cybersecurity
    Website
  5. Sapthagiri Industries

    Provider of secure payment gateway solutions for digital transactions processing

    Payments
    Website

Payments startups in Karnataka

Recently founded payments companies in Karnataka.

  1. CheQ

    Provider of digital credit card bill payment and management services

    Payments
    See in list
  2. SuperPe

    Online platform offering cross-border payment solutions using credit cards

    Payments
    See in list
  3. Innopay

    Mobile app for money transfer and bill payments

    Payments
    See in list
  4. Rupicard

    Provider of credit cards secured by fixed deposits with credit bureau reporting

    Payments
    See in list
  5. Pice

    Bill payment platform for businesses

    Payments
    See in list
87 companies in Karnataka

Payments companies hiring in Karnataka

Payments companies in Karnataka with open roles.

  1. Razorpay

    Provider of payment and business banking solutions for enterprises

    Payments
    See in list
  2. Navi

    Provider of financial products including UPI, loans, insurance, and mutual funds

    Payments
    See in list
  3. CRED

    Fintech platform that rewards users for paying credit card bills on time

    Payments
    See in list
  4. Manipal Payment and Identity Solutions

    A fintech company offering banking networks and smart card manufacturing solutions

    Payments
    See in list
  5. Xoxoday

    Provider of rewards, recognition, loyalty, incentives, and payout program solutions

    Hrtech
    See in list
34 companies in Karnataka
Mobile reach

Top 10 payments apps from Karnataka

The most-installed Android apps published by payments companies headquartered in Karnataka — 419.8M installs between them. 52 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Navi: UPI, Payments, Insurance

by Navi

Installs178.6M
Rating4.475.6M ratings
Last updatedMay 2026
View on Google Play ↗
Navi: UPI, Payments, Insurance screenshot 1Navi: UPI, Payments, Insurance screenshot 2Navi: UPI, Payments, Insurance screenshot 3Navi: UPI, Payments, Insurance screenshot 4Navi: UPI, Payments, Insurance screenshot 5
2

CRED: Credit Cards, Bills, UPI

by CRED

Installs68.7M
Rating4.753.0M ratings
Installs, year on year+24%
Last updatedMay 2026
View on Google Play ↗
CRED: Credit Cards, Bills, UPI screenshot 1CRED: Credit Cards, Bills, UPI screenshot 2CRED: Credit Cards, Bills, UPI screenshot 3CRED: Credit Cards, Bills, UPI screenshot 4CRED: Credit Cards, Bills, UPI screenshot 5CRED: Credit Cards, Bills, UPI screenshot 6
3

FamApp by Trio: UPI & Card

by FamApp

Installs61.3M
Rating4.152.9M ratings
Last updatedJun 2026
View on Google Play ↗
FamApp by Trio: UPI & Card screenshot 1FamApp by Trio: UPI & Card screenshot 2FamApp by Trio: UPI & Card screenshot 3FamApp by Trio: UPI & Card screenshot 4FamApp by Trio: UPI & Card screenshot 5FamApp by Trio: UPI & Card screenshot 6
4

super.money - UPI by Flipkart

by Super.Money

Installs52.2M
Rating4.372.2M ratings
Last updatedMay 2026
View on Google Play ↗
super.money - UPI by Flipkart screenshot 1super.money - UPI by Flipkart screenshot 2super.money - UPI by Flipkart screenshot 3super.money - UPI by Flipkart screenshot 4super.money - UPI by Flipkart screenshot 5super.money - UPI by Flipkart screenshot 6
5

POP: Pay, Earn & Shop

by Popclub

Installs18.6M
Rating—
Installs, year on year+91%
Last updatedJun 2026
View on Google Play ↗
POP: Pay, Earn & Shop screenshot 1POP: Pay, Earn & Shop screenshot 2POP: Pay, Earn & Shop screenshot 3POP: Pay, Earn & Shop screenshot 4POP: Pay, Earn & Shop screenshot 5
6

Uni: GoldX & UPI Credit Card

by Uni Cards

Installs13.7M
Rating3.57191K ratings
Installs, year on year+33%
Last updatedMay 2026
View on Google Play ↗
Uni: GoldX & UPI Credit Card screenshot 1Uni: GoldX & UPI Credit Card screenshot 2Uni: GoldX & UPI Credit Card screenshot 3Uni: GoldX & UPI Credit Card screenshot 4Uni: GoldX & UPI Credit Card screenshot 5Uni: GoldX & UPI Credit Card screenshot 6
7

Earn money online cash Rupiyo

by Rupiyo

Installs9.7M
Rating4.32161K ratings
Last updatedJun 2026
View on Google Play ↗
Earn money online cash Rupiyo screenshot 1Earn money online cash Rupiyo screenshot 2Earn money online cash Rupiyo screenshot 3Earn money online cash Rupiyo screenshot 4Earn money online cash Rupiyo screenshot 5Earn money online cash Rupiyo screenshot 6
8

Innopay: Recharge & Bills

by Innopay

Installs6.4M
Rating—
Last updatedMay 2026
View on Google Play ↗
Innopay: Recharge & Bills screenshot 1Innopay: Recharge & Bills screenshot 2Innopay: Recharge & Bills screenshot 3Innopay: Recharge & Bills screenshot 4Innopay: Recharge & Bills screenshot 5Innopay: Recharge & Bills screenshot 6
9

Kiwi - UPI & Credit Card App

by Kiwi

Installs5.8M
Rating—
Installs, year on year+125%
Last updatedJun 2026
View on Google Play ↗
Kiwi - UPI & Credit Card App screenshot 1Kiwi - UPI & Credit Card App screenshot 2Kiwi - UPI & Credit Card App screenshot 3Kiwi - UPI & Credit Card App screenshot 4Kiwi - UPI & Credit Card App screenshot 5Kiwi - UPI & Credit Card App screenshot 6
10

CheQ: Credit Bill Payments

by CheQ

Installs4.7M
Rating2.478K ratings
Last updatedMay 2026
View on Google Play ↗
CheQ: Credit Bill Payments screenshot 1CheQ: Credit Bill Payments screenshot 2CheQ: Credit Bill Payments screenshot 3CheQ: Credit Bill Payments screenshot 4CheQ: Credit Bill Payments screenshot 5CheQ: Credit Bill Payments screenshot 6
The business behind the activity

Payments financials in Karnataka

Revenue, profit and growth from the filed annual accounts of 76 payments companies in Karnataka for FY24-25 — 102 of the 219 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 95% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹32,339.10 cr

76 companies filing accounts

combined net profit−₹2,603.87 cr

-8.1% aggregate margin

are profitable36%

27 of 76 companies

median revenue~₹6.7 cr

the typical company

median revenue growth+24%

into FY24-25

earned by the top five95%

revenue concentration

Six-year view

Combined revenue of filing companies

₹21,500.96 crFY19-2043 filers
₹24,507.45 crFY20-2150 filers
₹25,483.64 crFY21-2262 filers
₹32,319.12 crFY22-2373 filers
₹37,489.17 crFY23-2482 filers
₹32,339.10 crFY24-2576 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 57 companies over three years

+10%
FY22-23₹28,711.46 cr−₹925.32 cr net
FY23-24₹31,832.13 cr−₹1,989.77 cr net
FY24-25₹31,626.86 cr−₹2,418.00 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1718% profitable
₹1–10 cr2532% profitable
₹10–100 cr2552% profitable
₹100–1,000 cr838% profitable
Over ₹1,000 cr10% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking24
0–20%8
20–50%10
50–100%10
Doubled+17

69 companies with accounts for both years; median growth +24%.

Profitability

Profit is concentrated at the top

27profitable
49loss-making
-8.1%aggregate margin
-26.4%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
CheQCHEQ DIGITAL PRIVATE LIMITED+433%₹86.14 cr
PiceNANOSECOND TECHNOLOGIES PRIVATE LIMITED+369%₹42.05 cr
MedPayMEDWAY TECHNOLOGIES PRIVATE LIMITED
KarbonLIVQUIK TECHNOLOGY (INDIA) PRIVATE LIMITED+142%₹55.87 cr
ANQ FinanceANQ DIGITAL FINSERV PRIVATE LIMITED
NeokredNEOKRED TECHNOLOGIES PRIVATE LIMITED+124%₹93.17 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
InnopayInnopay Technologies Private Limited25.0%₹63.68 cr
KarplexusKARPLEXUS PRIVATE LIMITED
Transaction AnalystsTRANSACTION ANALYSTS (INDIA) PRIVATE LIMITED
PayhuddlePAYHUDDLE SOLUTIONS PRIVATE LIMITED
XflowXFLOW PAYMENTS INDIA PRIVATE LIMITED
Juspay, Juspay TechnologiesJuspay Technologies Private Limited12.4%₹534.37 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Payments62₹31,278.03 cr~₹3.9 cr35%-8.1%
Leaders

Largest payments companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Bijli MitraJAIPUR VIDYUT VITRAN NIGAM LIMITED₹28,681.64 cr−₹706.49 cr-2.5%-2%
XoxodayNREACH ONLINE SERVICES PRIVATE LIMITED₹604.60 cr₹6.65 cr1.1%+1%
Juspay, Juspay TechnologiesJuspay Technologies Private Limited₹534.37 cr₹66.33 cr12.4%+54%
NaviNAVI LIMITED₹523.41 cr−₹355.64 cr-67.9%-32%
StoreKingLOCALCUBE COMMERCE PRIVATE LIMITED₹360.78 cr−₹14.19 cr-3.9%+45%
OLA MoneyOLA FINANCIAL SERVICES PRIVATE LIMITED₹229.19 cr₹25.76 cr11.2%-14%
RazorpayRazorpay Software Limited₹187.30 cr−₹1,021.58 cr-545.4%-5%
InnovitiINNOVITI TECHNOLOGIES PRIVATE LIMITED₹144.45 cr−₹62.13 cr-43.0%+32%
Uni CardsUniorbit Technologies Private Limited₹105.66 cr−₹132.56 cr-125.5%+5%
NeokredNEOKRED TECHNOLOGIES PRIVATE LIMITED₹93.17 cr₹10.40 cr11.2%+124%
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Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

For investors and data teams

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The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Payments funding and M&A across India

903 recorded equity rounds have gone to 2,854 payments companies in India — how much, at which stage, into which sub-sectors, from whom, and how Karnataka compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months17

US$150.28m

equity rounds, last 24 months60

US$640.20m

raised over five yearsUS$5.51bn

373 rounds in India

M&A deals, Karnataka4

last 24 months

Capital by year

Equity funding into payments in India

amount rounds
$600m201854
$1.4bn201973
$1.0bn202090
$2.9bn2021125
$930m202292
$825m202350
$245m202453
$479m202541
$128m202612

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$2.90bn across 125 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$24.49m48 rounds · median US$182k
SeedUS$310.62m184 rounds · median US$871k
Series AUS$531.68m48 rounds · median US$7.44m
Series BUS$371.75m31 rounds · median US$5.00m
Series CUS$460.67m17 rounds · median US$21.63m
Series D+US$3.79bn43 rounds · median US$22.26m
Where the money went · five years

Most-funded sub-sectors

PaymentsUS$4.90bn273 rounds · 124 companies
Banking techUS$241.06m29 rounds · 15 companies
HrtechUS$130.69m11 rounds · 4 companies
In store retail techUS$123.55m10 rounds · 2 companies
Digital remittanceUS$38.20m5 rounds · 3 companies
Finance & accounting techUS$25.16m7 rounds · 3 companies
Higher education techUS$18.27m4 rounds · 1 companies
Corporate activity · last 24 months

M&A in Karnataka

4Acquisition

Most active acquirers

  1. Makemytrip2
  2. Razorpay1
  3. Perfios1

Most acquired or merged

  1. Pop1
  2. Clari51
  3. Happay1
  4. Cred1

Each deal appears in the events strip at the top of the page.

Payments funding in Karnataka

64 payments companies in Karnataka have recorded equity funding, US$3.40bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Karnataka

Meet the people behind payments companies in Karnataka. 131 of 219 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Karnataka payments companies by sub-sector

The most common specialisations among payments companies in Karnataka. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring payments in India and nearby markets.

Coming soon