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PAYCARDO

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.
Mobility / Transportation,  FinTech  
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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.
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

Company Incorporation

Jan | Company Incorporation

Incorporated as a Private Limited company under MCA.

Accelerator / Incubator Program

Mar | Accelerator / Incubator Program

Recognised as Startup by DIPP under the Startup India.

Strategic Partnership

Mar | Strategic Partnership

Enrolled in AWS Activate Founders Program.

Raised Funding

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.

Revenue Stream
Commission on transaction
Renting / Leasing
Subscription
Fee-For-Service
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Funding
Investors
:
1.  
MaGEHold
Detail Round Breakdown
Round 1
Series Name
:
PRE-SEED
Date
:
16th Aug 2021
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