Payinstacard secures seed funding from angel investors
City-based fintech Payinstacard said it has raised an undisclosed funding in Seed round. P C Doraswamy, Partner, Brandix India, and Sandhya Rani Maddipati, a former banker turned industrialist, participated in the funding round
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Hyderabad: City-based fintech Payinstacard said it has raised an undisclosed funding in Seed round. P C Doraswamy, Partner, Brandix India, and Sandhya Rani Maddipati, a former banker turned industrialist, participated in the funding round.
Incepted in 2022, Payinstacard Pvt Ltd leverages technology to simplify financial transactions and make digital payments rewarding.
Founders, Sai Krishna Musunuru and Sri Nagesh Kotipalli highlighted the potential of the startup in the Indian market, with over 350 million active payment users. Payinstacard expects to grow to 700 million by 2030, and aims to capitalise on this expansion by introducing more innovative payment solutions for the Indian users.
The founders further said that, industry experts Doraswamy and Sandhya on the board, enhances capability to innovate and extend market reach.
On the investment Doraswamy said, “Investing in Payinstacard was a strategic decision driven by my belief in their vision and their technological approach to revolutionising bill payments. I see potential for growth and innovation in the Indian fintech landscape through Payinstacard.”
