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).
