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PayNearby

Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital payments network. Our mission is to make financial services available to everyone, everywhere. Zidd Aage Badhne Ki ↗️
Financial Services,  Technology,  FinTech  
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Basic Information
PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities. We aim to simplify high-end technology so that it can be easily assimilated at the last mile while transforming the lives of its retail partners and customers. Today, PayNearby, through its tech-led DaaS (Distribution as a Service) network, serves 75% of India and is enabling services like cash withdrawal, remittance, Aadhaar Banking, bill payment and recharges, savings, travel, digital payments, insurance and more. Currently, PayNearby’s 41 lakh plus microentrepreneurs across 17,600+ PIN codes assist 20+ crore customers across the country to the tune of more than ~6000 crores GTV per month.
Legal Name
:
Nearby Technologies Pvt. Ltd.
Headquarters
:
Mumbai, Maharashtra , India
Business Model
:
B2B,  B2B2C  
Founding Date
:
20th Apr 2016
No. of Employees
:
501 to 1000
Core Team
:
1.  
Anand Kumar Bajaj
Founder, MD & CEO
2.  
Subhash Kumar
Co-founder
3.  
Yashwant Lodha
Co-founder
Timeline

2016

Company Incorporation

Apr | Company Incorporation

Founding team registered the company Nearby Technologies Pvt. Ltd.

Key Customer Milestone

Sep | Key Customer Milestone

Products: Money Transfer Services Retail stores onboarded: 2,00 Customers serviced: 1 Lac +

2017

Product Launch

Sep | Product Launch

Products bouquet includes, AePS (Aadhaar ATM), Bill Payment, SMS Payment & Bus booking service, Recharge services amongst others

2018

Product Userbase Milestone

Sep | Product Userbase Milestone

Retail partners onboarded: 3,00,000 & Customers serviced: 2 Cr + Products added: Deployed AePS switch, Flight and Hotel booking, FASTag, Aadhaar & UPI Pay Services

2019

Awards

Oct | Awards

DigiDhan Mission FinTech Award - Innovation in Digital Payments Acceptance Infrastructure in Rural India by the Ministry of Electronics and Information Technology (MeitY), Government of India

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Revenue Stream
Commission on transaction
Subscription
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Funding

Total Funding

$1.5M

Investors
:
1.  
Roha Group
Features

PayNearby launches Digital Naari platform to generate sustainable self-employment for women

Fintech startup PayNearby to start cross-border remittance services by October

From Sela Pass at 13,700 ft to Raichur: How PayNearby enables financial inclusion by tying up with kiranas

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