Paycardo aims to build a true contactless, fast and secure payment solution in buses across India by providing smart cards to the daily bus commuters and smart POS to the bus conductors for hassle-free ticketing solution. See more

Basic Information

Paycardo aims to build a true contactless, fast and secure payment solution in buses across India by providing smart cards to the daily bus commuters. The card would be coupled to a smart POS provided to the bus conductors to offer a hassle-free ticketing solution. This would lessen the need for mandatory cash payment in public buses and would also lessen the risk of germs and virus spread through cash. It would be a smartphone and Internet independent closed-loop prepaid smart card solution for commuters. They are also developing a one-stop trip management app with live bus tracking and estimating the crowd status in the bus. Overall, they have a pre-paid card and an app as the end product for the commuters while cloud-enabled infrastructure and dashboard provision for the travel partners/agencies. See more

Legal Name

:

PAYCARDO PRIVATE LIMITED

Headquarters

:

Pune, Maharashtra, India

Business Model

:

B2C, 

B2G 

Founding Date

:

2021

No. of Employees

:

<10

Core Team

:
1.

Vivek Kumar Choubey

Co-Founder & CEO

2.

VIVEK KUMAR

Co-Founder & COO

Timeline
2021
true
Jan | Company Incorporation
Incorporated as a Private Limited company under MCA.
Mar | Accelerator / Incubator Program
Recognised as Startup by DIPP under the Startup India.
Mar | Strategic Partnership
Enrolled in AWS Activate Founders Program.
Aug | Raised Funding
PayCardo raised an undisclosed amount of funding in a pre-seed round led by Singapore-based angel investment firm MaGEHold Pte. Limited. The funds from the current round will be used for product development, hiring and piloting.

Funding

Investors

:

1.

MaGEHold

Detail Round Breakdown

Round 1

Series Name

:

PRE-SEED

Date

:

16th Aug 2021