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Sending or receiving foreign payments in India is difficult, expensive & time-consuming. Mulya is making it fast & simple with the lowest fee possible.
Whenever they think about forex in India, they imagine long bank queues, complicated paperwork, and unexplanable fees. Such a terror! Mulya started with a simple mission - to make forex transparent and easy for Indians. They started helping companies and individuals receive foreign payments for a mere 1% - 7X lower fee than PayPal. Despite the lowest fee in the market, they have unit economics profitability. Being the first company in the Indian cross-border B2C play, Mulya is one of the few bootstrapped fintechs in India. It's been two years of operations, and they're stronger than ever. After fixing business payments, Mulya ventured into personal outward remittance, and they're very well on their way to solving each and every consumer forex problem in India - be it business, travel, or personal use case.
2022
Aug | Product Launch
It took us a good 6-8 months of validating the idea and figuring out a path to launch. We were rejected by at least 16 banking/fintech partners before we finally opened our gates on Aug 01, 2022.
2023
Jan | Stepped into New Market
After turning profitable in Inward Business Remittances, we launched Outward Remittance, which added a good chunk to our revenue with even better margins (40bps)
Jun | Became Profitable
It was against industry belief that anyone can do forex at 1% and still generate profits. Yup, with margins in bps, it's challenging but possible.
B2B
We mainly target IT, Marketing, SEO companies serving foreign clients. We also have a share of goods exporters.
Client Segment
:
Consumer,
Services,
Enterprise Tech,
SaaS,
Software
Target Companies
:
Startup,
Small Enterprise,
Medium Enterprise
Target Geography
:
B2C
Our target audience for Inward remittance is freelancers and remote employees working for foreign orgs. For outward remittances, we target students going abroad for studies.
User Age
:
18 to 25,
26 to 34,
35 to 45
User Income
:
Lower-middle Income,
Upper-middle Income,
High Income
Location
:
Frequently Asked Questions
