Cashfree Payments is one of India's leading payment and API banking companies, providing full-stack solutions that enable businesses to collect payments and make payouts efficiently. Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree Payments has become a significant player in the fintech industry with headquarters in Bangalore, India. The company has raised a total funding of approximately $44 million, with backing from major investors like State Bank of India. Cashfree Payments offers a diverse range of services, including payment gateways, vendor payouts, e-commerce refunds, and more, positioning itself as a robust platform for payment processing and disbursals.
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | Bangalore, Karnataka, India |
| Founders | Akash Sinha, Reeju Datta |
| Revenue | ₹614 crore (as of FY23) |
| Profits | -₹133 crore (as of FY23) |
| Key Investors | State Bank of India |
| Industry | Fintech/Payments |
| Number of Employees | Information not publicly available |
Cashfree Payments was founded in 2015 by Akash Sinha and Reeju Datta, emerging from Y Combinator's startup accelerator program. The company was established with the mission to simplify online payment and settlement processes. Initially focused on streamlining payment collections and payouts, it quickly grew to accommodate diverse business needs. Its pioneering solutions like the Payouts API helped businesses manage payments efficiently, gaining early traction from major internet companies. The integration of multiple payment modes such as credit cards, UPI, and wallet options provided Cashfree with a competitive edge, allowing it to establish a strong foothold in the burgeoning Indian digital payments landscape.
Cashfree Payments operates a robust business model that provides API-based payment solutions for businesses. It serves over 600,000 businesses, including major players like Zomato, BigBasket, and Cred.
Currently, Cashfree Payments is highly regarded for its diverse payment solutions, supporting over 150 payment modes. Its API Banking, along with payment gateway services, enables seamless transactions for businesses of all sizes, including many prominent e-commerce and service platforms in India. The company's strategic initiatives aim to capture a larger market share by venturing into the cross-border payment sector, a segment poised for significant growth, especially with the recent PA-CB licensing. Cashfree is known for its customer-centric approach, ensuring high payment success rates and quick settlements, positioning itself as a preferred payment partner in India and abroad.
Cashfree Payments plays a critical role in India's dynamic fintech ecosystem with its innovative payment solutions. The company's ability to integrate seamlessly with various business models, support multiple payment formats, and offer robust API banking solutions has solidified its prominence in the payment technology industry. As Cashfree Payments looks to expand further into cross-border transactions and enhances its product offerings, it is well-positioned to continue leading in digital payment infrastructures, not only in India but globally.