Paymart India Pvt. Limited
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Paymart India Pvt. Limited - overview
Established
2015
Location
Chandigarh, -, India
Primary Industry
Financial Services
About
Paymart India Pvt. Limited is a financial services company focused on enhancing digital transactions and promoting financial inclusion through innovative solutions like India's first Virtual ATM. Founded in 2015 and headquartered in Chandigarh, India, Paymart India Pvt. Limited specializes in facilitating digital banking transactions.
The company has completed three deals since its inception, with a most recent funding round in February 2021 where it raised INR 8. 27 million. The current company valuation is INR 421. 406 million.
Paymart India Pvt. Ltd. offers a diverse suite of financial services aimed at improving digital transactions and increasing financial inclusion across India. Notably, it has developed India's first Virtual ATM, enabling users to perform transactions digitally, which addresses the demand for accessible banking in both urban and rural areas.
Additionally, Paymart is a Full Fledged Money Changer licensed by the Reserve Bank of India, facilitating foreign currency exchanges and inward remittances. The company also promotes financial literacy through programs in collaboration with various banks, targeting education in rural communities while serving both urban and underserved markets. In the most recent year of 2023, Paymart reported a revenue of INR 46,408. 8 million, while the EBITDA for the same period was -INR 358,420.
7 million. Revenue is primarily generated through transaction-based services including fees for foreign currency exchanges and the use of its Virtual ATM. Paymart India Pvt. Limited has plans to launch new products aimed at further enhancing digital financial services, with specifics expected to be detailed in the near future.
The company is also targeting expansion into additional regions within India to enhance its market presence. The INR 8. 27 million raised in February 2021 will be utilized to support these initiatives, aiding in product development and market expansion efforts.
Current Investors
Chandigarh Angels Network
Primary Industry
Financial Services
Sub Industries
e-Financial
Website
www.mypaymart.com
Verticals
FinTech, Mobile Apps
Company Stage
Angel & Seed
Total Amount Raised
Subscriber access only
Paymart India Pvt. Limited - timeline of key events
Paymart India Pvt. Limited - financials
| Fiscal Year Ended | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 9,640 | 150,769,629 | 73,531,835 | 17,942,963 | 8,158,587 | 6,923 | - | - | - |
| % Revenue Growth (YoY) | - | 1563900.3% | (51.2%) | (75.6%) | (54.5%) | (99.9%) | - | - | - |
| EBITDA (USD) | (464,211) | (9,629,465) | (2,134,911) | (4,196,077) | (10,691,535) | (16,277,264) | - | - | - |
| Operating Income (USD) | (472,424) | (9,712,198) | (2,217,416) | (4,254,682) | (10,732,396) | (16,321,020) | - | - | - |
| Operating Margin | (4900.7%) | (6.4%) | (3.0%) | (23.7%) | (131.5%) | (235750.7%) | - | - | - |
| % EBITDA Margin | (4815.5%) | (6.4%) | (2.9%) | (23.4%) | (131.0%) | (235118.6%) | - | - | - |
| NET Income (USD) | (80,366) | (9,883,661) | (2,467,407) | (4,495,047) | (11,050,750) | (16,675,274) | - | - | - |
| % Net Margin | (833.7%) | (6.6%) | (3.4%) | (25.1%) | (135.4%) | (240867.7%) | - | - | - |
Paymart India Pvt. Limited - employee data
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