AuroraX Private Limited

AuroraX Private Limited specializes in providing innovative financial solutions aimed at enhancing consumer purchasing power through flexible payment options. Founded in 2019 and based in Bangalore, India, AuroraX Private Limited develops financial products that cater to the needs of consumers seeking better payment solutions. The company was established by a team of entrepreneurs including Ananya Pande, Eeshan Sharma, Mehul J, and Shyam Murugan, with Mehul J serving as the CEO. To date, the company has participated in 3 funding deals, the latest being a SEED round in which it raised USD 4.

50 mn from investors including 8i Ventures, Java Capital, Multiply Ventures, Soma Capital Management, and Y Combinator, bringing the total amount raised to USD 4. 50 mn. AuroraX offers a range of financial products designed to improve consumer purchasing power through flexible payment solutions. Their main products include a "Pay in 3" plan, which allows consumers to split payments into three zero-interest installments, and a "Pay in X" option that enables users to make a partial upfront payment followed by 3 to 18 EMIs (Equated Monthly Installments) supported by real-time account aggregation technology.

These products primarily target direct-to-consumer (D2C) brands across sectors such as fashion, electronics, healthcare, and food delivery, enhancing transaction ease for consumers by providing loans without extensive documentation. Their solutions have been integrated into prominent e-commerce platforms like Shopify, primarily serving clients in India. In 2023, AuroraX reported a revenue of USD 58,652. 50, with an EBITDA of USD -1,036,460.

The company generates revenue through transaction fees associated with its payment solutions provided to retail brands. Their business model focuses on collaboration with both online and offline retailers, enabling immediate financing options at the point of sale. When consumers opt for the "Pay in 3" option, AuroraX processes the transaction and receives a fee from the retailer for facilitating the payment plan, thereby driving transaction volume without imposing interest on consumers. AuroraX plans to expand its product offerings with new features aimed at enhancing consumer financial flexibility.

The company is targeting new markets beyond India, with plans for geographic expansion by the end of 2024, although specific regions have yet to be disclosed. The recent funding from the SEED round, which raised USD 4. 50 mn, will be strategically utilized to support these initiatives, including research and development for upcoming products.