When was Forthcode founded?

Forthcode was founded in 2008 and raised its 1st funding round 14 years after it was founded.

Where is Forthcode located?

Forthcode is headquartered in Bengaluru, India. It is registered at No. 43, WeWork Galaxy, Residency Road, Richmond Town, Bangalore, Bangalore North, Karnataka, India, 560025.

Who is the current CEO of Forthcode?

Ajith Balakumar of Forthcode. They have also founded 1 company.

Which legal entities is Forthcode associated with?

Forthcode is associated with FORTHCODE TECHNOLOGIES INDIA PRIVATE LIMITED.

How many employees does Forthcode have?

As of May 31, 2026, the latest employee count at Forthcode is 22.

Is Forthcode a funded company?

Forthcode is a funded company, having raised a total of $237K across 2 funding rounds to date. The company's 1st funding round was a $***** Angel round, raised on Jun 01, 2022.

How much is Forthcode worth?

The latest valuation of Forthcode is $***** as of Aug 30, 2023.

When was the latest funding round of Forthcode?

Forthcode's latest funding was a $***** Seed round on Aug 30, 2023, with participation from 1 investor.

What is the annual revenue of Forthcode?

Annual revenue of Forthcode is less than ₹10 Cr as on Mar 31, 2025

Where does Forthcode rank among its competitors?

Forthcode ranks 31st amongst 294 active competitors, of which 27 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Innoviti, which secured $11.4M in Feb, 2026.

Who are the top competitors of Forthcode?

Forthcode's top competitors include Ezetap, RateGain and Mswipe. Among them, Innoviti secured the most recent funding round in February, 2026.

Forthcode - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Developer of cloud-based platforms for airlines and retail. It offers SaaS solutions designed to streamline ancillary revenue for airlines and provide point-of-sale systems for retailers and wholesalers. The company also develops enterprise IoT solutions focused on improving efficiency. A platform-led approach emphasizes ease of deployment, scalability, and measurable ROI. Its global ecosystem of partners ensures faster turnaround times and access to cutting-edge technologies. The platforms are designed for easy integration with existing systems, enabling rapid scaling and improved customer experiences.

Website: www.forthcode.com/
Social
Email ID: *****@forthcode.com
Phone Number: +91 **********
Registered Address: No. 43, WeWork Galaxy, Residency Road, Richmond Town, Bangalore, Bangalore North, Karnataka, India, 560025

Key Metrics

Founded Year

2008

Location

Bengaluru, India

Stage

Seed

Total Funding

$237K in 2 rounds

Latest Funding Round

Seed, Aug 30, 2023, $*****

Post Money Valuation

$***** as on Aug 30, 2023

Investors

Metamax Technology Ventures & 1 more

Ranked

31^st among 294 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2025

Employee Count

22 as on May 31, 2026

Similar Companies

Square & 2945 more

View Forthcode's full profile

Forthcode is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
FORTHCODE TECHNOLOGIES INDIA PRIVATE LIMITED CIN: U72900KA2020PTC131847 , India, Active	Jan 22, 2020	$0 - $1M (As on Mar 31, 2025)	13 (As on Mar 01, 2026)

Forthcode has raised a total funding of $237K over 2 rounds. Its first funding round was on Jun 01, 2022. Its latest funding round was a Seed round on Aug 30, 2023 for $*****. 1 investor participated in its latest round. Forthcode has 1 institutional investor and 1 angel investor.

Here is the list of recent funding rounds of Forthcode:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 30, 2023	8518244	Seed	9510601	2774518	1074908	7989426
Jun 01, 2022	3121187	Angel	5924961	6632873	Faiz Mohammed Ismail Khalander Shah	8401792

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View details of Forthcode's funding rounds and investors

The founders of Forthcode is Ajith Balakumar. Ajith Balakumar is the CEO of Forthcode.

Here are the details of Forthcode's key team members:

Ajith Balakumar: Founder & CEO of Forthcode.
Contact Info: 1 email address

Forthcode's Board of Directors

Forthcode's board has 3 active members. Ajith Kumar Balakumar is part of team and Changaai Mangalote Faiz and Purnima Manhas are independent board members.

Here is the list of Forthcode's board of directors:

Name	Type	Representing	Status	Duration
Ajith Kumar Balakumar	Team	-	Current	4y 5m
Changaai Mangalote Faiz	Independent board member	-	Current	3y 9m
knyrgeo	Independent board member	-	Current	7y 6m

View details of Forthcode's Founder profiles and Board Members

Forthcode's employee count trend

Forthcode has 22 employees as of May 26. Here is Forthcode's employee count trend over the years:

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Top competitors of Forthcode include Ezetap, RateGain and Mswipe. Here is the list of Top 10 competitors of Forthcode, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Ezetap 2011, Bengaluru (India), Acquired	Cloud-based mPOS software and hardware solutions for businesses	$66.4M	Social Capital, Helion Venture Partners & 43 others	72/100
2nd	RateGain 2004, London (United Kingdom), Public	AI-powered solutions for the travel and hospitality industry	$64.9M	Avataar Ventures, TA & 5 others	71/100
3rd	Mswipe 2011, Mumbai (India), Series E	Provider of payment technology solutions for retail and online businesses	$126M	Z47, B Capital & 23 others	67/100
4th	Innoviti 2002, Bengaluru (India), Series E	Provider of payment and revenue assurance software for retail businesses	$155M	Bessemer Venture Partners, Trifecta Capital ... & 109 others	65/100
5th	Itab 1978, Jonkoping (Sweden), Public	Provider of retail solutions including technology, lighting, interior, and related services	-	Svolder, Gov.cz & 2 others	60/100
6th	Oxigen 2004, Gurugram (India), Series B	Platform offering POS software for business	$50.2M	Citi, M12 & 15 others	56/100
7th	EffiaSoft 2012, Hyderabad (India), Acquired	Cloud based ERP products for SMBs	$448K	Ten Innovate & 11 others	56/100
8th	Evolute 1970, Mumbai (India), Early Stage	Embedded systems and fintech solutions provider	$241K	Vertex Holdings, Evolute Ventures & 2 others	54/100
9th	Kasir Pintar 2017, Surabaya (Indonesia), Unfunded	Cloud-based mPOS software solutions for offline retailers	-	-	53/100
10th	UltraCash 2014, Bengaluru (India), Unfunded	High frequency sound based money transfer company	-	-	53/100
31st	Forthcode 2008, Bengaluru (India), Seed	Developer of cloud-based platforms for airlines and retail	$237K	Metamax Technology Ventures & 1 others	39/100

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Founders (largest shareholder) own 83.54%, Enterprises own 0.55%, Other People own 4.95% and Other Investors own 10.96%. The net worth of Forthcode's founders is INR 75.9Cr as of Aug 30, 2023.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	83.54%	75.9Cr	6948923	2507270	1796051	2372056
Ajith Balakumar	1160401	4034584	6071709	1537784	5757655	6946953
Enterprise	0.55%	50.4L	0	0	0	0
Other People	4.95%	4.5Cr	4921	8420	5928	1061
Other Investors	10.96%	9.96Cr	7322509	1783441	4381415	5814333
Total	100.00%	90.9Cr	2914834	4755169	5550988	5424667