Opfin Software Pvt Ltd

Opfin Software Pvt Ltd is a technology company specializing in payroll management solutions, designed to enhance efficiency for businesses. Their core offering simplifies payroll processes for HR departments and employees across various sectors. Opfin Software Pvt Ltd specializes in payroll management solutions. Founded in 2017 and headquartered in Gurgaon, India, the company was acquired by Razorpay Software Pvt Ltd in November 2019.

Madhur Gulati, the founder, has a history in the tech industry, although specific prior ventures are not documented. The firm has engaged in one deal to date, with the most recent deal occurring on November 22, 2019. RazorpayX Payroll offers a comprehensive payroll management solution designed to streamline the payroll process for businesses. This core product integrates various functionalities, including automated salary calculations, compliance management, and employee self-service features, thereby facilitating a seamless payroll experience for HR departments and employees alike.

The solution primarily serves small to medium-sized enterprises (SMEs) and startups in India, enabling organizations to manage payroll effectively while ensuring compliance with local regulations. By providing these services, RazorpayX Payroll aims to simplify the payroll process, reduce administrative burdens, and enhance employee satisfaction through timely and accurate salary disbursements. RazorpayX Payroll generates revenue through a subscription-based model, where clients pay a recurring fee for access to their payroll management services. This business structure allows for predictable income streams while providing clients with ongoing support and updates.

In 2023, the firm's revenue was reported at USD 0, with EBITDA also at USD 0. Opfin Software Pvt Ltd aims to enhance its offerings by developing new features for its payroll management solution, with plans for a significant update slated for launch in 2024. The company is also targeting expansion into key regional markets in Southeast Asia, with specific plans to enter markets in Singapore and Indonesia by the end of 2024. The funding from the acquisition will be strategically utilized to support these development initiatives and market expansions.