EnKash allows startups and SMBs to manage purchase orders, invoices, and enable and track payments to suppliers or from buyers.
Basic Information
EnKash, one of the largest corporate cards and spend management companies in India, was founded in 2018 by “Cards and Payments” industry veterans, Naveen Bindal, Hemant Vishnoi and Yadvendra Tyagi. The Company started with the genesis of building smart solutions for digital B2B payments and improving credit accessibility for SMEs and Startups. Over a short period of 4 years, EnKash claimed the leadership position in India’s Corporate Cards’ space through its aggressive stance on tech innovation. It has enabled B2B payment digitisation, decentralization, and automation for over 1,00,000 businesses through its Corporate Cards and Spends Management Platform. The company has so far raised a total of USD 23 Million after recently bagging USD 20 Million in a Series-B funding round by Ascent Capital, Baring India, and Singapore-based White Ventures. The company’s stupendous growth is visible through its USD 15 million annual revenue. As the “innovation” flagbearer of the new-age card-issuance and B2B payments ecosystem in India, EnKash is now eyeing international expansion into geographies such as Europe and USA. After leading the innovation wagon for India’s B2B payments landscape and modernizing Corporate Cards, EnKash is now set to enable Non-Fintech/Fintech companies and Banks/NBFCs to launch their own card (Credit and Prepaid both) programs and other digital banking products in a hassle-free manner. The Company has developed an advanced Banking Infra API Suite “CardX”, using which organizations can issue branded cards to their customers/employees/agents/networks and others. It is a developer-friendly and scalable card stack architecture, aimed to reduce the go-to-market time and capex required to launch a card program.
Additionally, the Company currently employs 120+ people and recently ramped-up its team size by over 100%.
Legal Name
:
Enkash
Headquarters
:
Mumbai, Maharashtra , India
Business Model
:
Founding Date
:
2018
No. of Employees
:
101 to 150
Core Team
:
1.
Hemant Vishnoi
Co-Founder
2.
Yadvendra Tyagi
Co-Founder
3.
Naveen Bindal
Co-Founder
Funding
Total Funding
$23.0M
Investors
:
1.
Axilor Ventures
2.
Mayfield Fund
Round 1
Round 2
$3M
Series Name
:
SERIES-A
Date
:
Apr 2019
Investors
:
1.
Mayfield Fund
2.
Axilor Ventures
FinTech
FinTech
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