Paysharp, a payment aggregator, has successfully raised funding totaling 10.5 crore. Krishna Kumar Mani and Sathish S established Paysharp in 2019 to offer enterprise-level payment solutions to businesses. Their solution includes comprehensive UPI solutions and other payment collection solutions.
In addition, Paysharp, a Chennai-based fintech startup founded three and a half years ago, has also obtained an In-Principle License for Payment Aggregator from the Reserve Bank of India (RBI), as per reported by BW Disrupt.
“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.
Paysharp recently announced the completion of its Pre-Series A funding round in March 2023, where it raised INR 10.5 crores with a valuation of INR 200 crores. Paysharp specializes in providing a full range of payment solutions, including UPI payment solutions, virtual accounts, B2B payment solutions, and BBPS Billers, to merchants. The company’s flat pricing model is focused on the B2B segment.
According to a company spokesperson, the funding will be used to support new product development initiatives as well as strengthen the compliance and operations departments. Paysharp, a payment aggregator with a B2B focus, offers a comprehensive UPI solution that includes UPI deep linking/mobile intent, collection requests, and dynamic QR codes. The company boasts that its virtual account collection is 10 times better than banks’ virtual account solutions in terms of features.
Paysharp is a fintech startup headquartered in Chennai. Paysharp works with leading banks and provides payment solutions for business . Solutions include virtual account solution, B2B payment collection and reconciliation solution, Payment APIs, and more.