Wednesday, April 17, 2024

Payment Aggregator Paysharp raised funding of 10.5 Crore

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(From Left to Right): Sathish Selvakanthan, co-founder and CTO, Krishna Kumar Mani Founder and CEO, Kannadas Muthusamy, Chief Information Security Officer

Chennai (Tamil Nadu) [India], April 06: Paysharp, incorporated in 2019 by Krishna Kumar Mani and Sathish S, provides enterprise-grade payment solutions business, a solution including complete UPI solutions and other payment collection solutions. The startup Paysharp also received the Reserve Bank of India’s (RBI) nod for Payment Aggregator In-Principle License.

Paysharp is a three and half-year-old fintech startup headquartered in Chennai. Paysharp announced it completed Pre-Series A funding on March 2023. During the round, Paysharp raised 10.5 crores with the 200 crores valuation.

Paysharp provides a complete UPI payment solution, virtual account, B2B payment solutions and BBPS Billers for merchants. The company focuses on the B2B segment with flat pricing.

“With the funding, we will be able to increase the capabilities of our present products and develop new techniques to automate the financial operations of the nation’s millions of SMEs and small businesses as a result of this,” said Krishna Kumar Mani, co-founder and CEO of Paysharp. Also, the company spokesperson said it intended to use the funding for new product development initiatives and strengthen compliance & operation arms.

The B2B-focused Payment aggregator offers a complete UPI solution with UPI deep linking / mobile intent, collection request, and dynamic QR code. The company claims its Virtual account collection is 10X better than Bank’s virtual account solution compared with features.

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