FamPay
Type of business | Private |
---|---|
Type of site | Financial service, Online shopping, Payment systems |
Available in | Multilingual |
Country of origin | India |
Area served | India |
Founder(s) | Kush Taneja, Sambhav Jain, |
Industry | E-commerce, Finance |
Products | FamCard |
Website | www |
Registration | Required |
Launched | 29 November 2019 "FamPay set to launch". Unknown parameter |url-status= ignored (help) |
Current status | active |
FamPay is an Indian e-commerce payment system and financial technology company, based in Bengaluru, Karnataka, India. [1][2][3]
History[edit]
Fampay was founded in August 2019 by IIT Roorkee graduates Kush Taneja and Sambhav Jain for teenagers and their families.[4] FamPay works with NPCI [5] to support online money transfers and serves as an electronic alternative money method like UPI and P2P.[6] The company is partnered with IDFC Bank [7] and is connected with RuPay payment network of merchants.[8] As per the company, Fampay is a number-less debit card only for teenagers and their family.[9][10]
In March 2020, FamPay has raised an investment of $4.7 million in a seed round from Y Combinator, Venture Highway, Sequoia India, and Global Founders Capital.[11][12]
Funding and Investments[edit]
FamPay is funded by 12 investors. Y Combinator and Soma Capital are the most recent investors.[13][14]
Year | Funding Rounds | Total Funding Amount |
---|---|---|
2020 | 1 | $4,700,000 [15] |
2019 | Pre-Seed | $150,000 |
References[edit]
- ↑ "What is FamCard". Jagranjosh.com. 2020-07-27. Retrieved 2020-12-26.
- ↑ "FamPay launches 'numberless card' for teenagers - Latest News | Gadgets Now". Gadget Now. Retrieved 2020-12-26.
- ↑ "FamPay is set to launch India's first and biggest Digi-Fest for teens". ZEE5 News. 2020-11-04. Retrieved 2020-12-26.
- ↑ "FamPay launched India's 1st numberless card, Famcard". affairscloud.com. Retrieved 2020-12-26.
- ↑ "This is India's first numberless payments card". Hindustan Times Tech. 2020-07-16. Retrieved 2020-12-26.
- ↑ "FamPay launches 'numberless' payments card for teenagers". The News Minute. 2020-07-17. Retrieved 2020-12-26.
- ↑ "IDFC FIRST Bank FamPay Card". www.idfcfirstbank.com. Retrieved 2020-12-26.
- ↑ Network, BFSI (2020-07-16). "FamPay launches India's First Numberless Card". Retrieved 2020-12-26.
- ↑ Bhasin, Tinesh (2020-07-28). "New-age savings bank accounts for minors can make children money-savvy". mint. Retrieved 2020-12-26.
- ↑ Shukla, Neeraj. "FamPay: FamPay launches 'numberless card' for teenagers". OTNEWS. Retrieved 2020-12-26.
- ↑ Upadhyay, Harsh (2019-09-12). "Exclusive: YC-backed FamPay in talks to raise up to $8 Mn from Sequoia and Lightspeed". Entrackr. Retrieved 2020-12-26.
- ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2020-12-26.
- ↑ "FamPay Funding". Unknown parameter
|url-status=
ignored (help) - ↑ "FamPay - Funding, Financials, Valuation & Investors". Crunchbase. Retrieved 2020-12-26.
- ↑ PYMNTS (2020-03-12). "Family Digital Payment App FamPay Raises $4.7M". www.pymnts.com. Retrieved 2020-12-26.
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