Mumbai fintech pioneer PayMate has made its first equity round of 2025, raising $30 million (around Rs 261 crore) from Crimson Ventures. The funding is a major milestone for the B2B digital payment solutions company, which offers commercial credit card-based transaction streamlining and accounts payable and receivable automation services. The money will be used to build market presence, capitalize on emerging opportunities, and fund general corporate purposes.
The investment follows PayMate's preparation for its long-awaited IPO after overcoming regulatory obstacles since its original filing in 2022. Having raised over $80 million so far from high-profile investors such as Visa International and Lightbox Ventures, PayMate has shown strong growth, processing $11 billion worth of transaction volume in FY23—a tripling from 2021. Even amid expanded losses, the company is targeting EBITDA profitability by Q3 FY24.
This round will set the stage for additional capital infusion and international expansion, especially in geographies such as GCC and APAC markets. With an addressable market of $8 trillion in India alone, PayMate is positioned to become a leading player in the commercial payments ecosystem.
Source: Entrackr
Mumbai fintech pioneer PayMate has made its first equity round of 2025, raising $30 million (around Rs 261 crore) from Crimson Ventures. The funding is a major milestone for the B2B digital payment solutions company, which offers commercial credit card-based transaction streamlining and accounts payable and receivable automation services. The money will be used to build market presence, capitalize on emerging opportunities, and fund general corporate purposes.
The investment follows PayMate's preparation for its long-awaited IPO after overcoming regulatory obstacles since its original filing in 2022. Having raised over $80 million so far from high-profile investors such as Visa International and Lightbox Ventures, PayMate has shown strong growth, processing $11 billion worth of transaction volume in FY23—a tripling from 2021. Even amid expanded losses, the company is targeting EBITDA profitability by Q3 FY24.
This round will set the stage for additional capital infusion and international expansion, especially in geographies such as GCC and APAC markets. With an addressable market of $8 trillion in India alone, PayMate is positioned to become a leading player in the commercial payments ecosystem.
Source: Entrackr
Source: EntrackrMumbai fintech pioneer PayMate has made its first equity round of 2025, raising $30 million (around Rs 261 crore) from Crimson Ventures. The funding is a major milestone for the B2B digital payment solutions company, which offers commercial credit card-based transaction streamlining and accounts payable and receivable automation services. The money will be used to build market presence, capitalize on emerging opportunities, and fund general corporate purposes.
The investment follows PayMate's preparation for its long-awaited IPO after overcoming regulatory obstacles since its original filing in 2022. Having raised over $80 million so far from high-profile investors such as Visa International and Lightbox Ventures, PayMate has shown strong growth, processing $11 billion worth of transaction volume in FY23—a tripling from 2021. Even amid expanded losses, the company is targeting EBITDA profitability by Q3 FY24.
This round will set the stage for additional capital infusion and international expansion, especially in geographies such as GCC and APAC markets. With an addressable market of $8 trillion in India alone, PayMate is positioned to become a leading player in the commercial payments ecosystem.
Source: Entrackr
