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FamPay

FamPay

FamPay is a neobank for teenagers.

Financial Services, FinTech

FamPay

FamPay

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Basic Information

FamPay was founded in 2019 by Kush Taneja and Sambhav Jain. With FamPay’s app and their numberless card, minors can safely and successfully make online (UPI & P2P) and offline payments without the need to set up a bank account. The neobank aims to raise a new, financially aware generation of Indians who understand the fundamentals of personal finance and are capable of making decisions in their best long term interest. In March 2020, FamPay raised seed funding of US $4.7Mn from Y Combinator, Venture Highway, Sequoia India and Global Founders Capital (GFC).

Legal Name

:

FamPay Solutions Pvt. Ltd.

Headquarters

:

Bangalore, Karnataka, India

Business Model

:

B2C

Founding Date

:

2020

No. of Employees

:

61 to 100

Core Team

:

1.

Sambhav Jain

Co-Founder

2.

Kush Taneja

Co-Founder

Revenue Stream

Affiliate Marketing

Commission on transaction

Fee-For-Service

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Funding

Total Funding

$4.7M

Investors

:

1.

Amrish Rau

2.

Kunal shah

3.

Kevin Lin

4.

Y Combinator

See More

Detail Round Breakdown

Round 1

Series Name

:

SEED

Date

:

2020

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