When was FSS founded?

FSS was founded in 1991 and raised its 1st funding round 17 years after it was founded.

Who is the current CEO of FSS?

Viswanathan Balasubramanian of FSS.

Which legal entities is FSS associated with?

FSS is associated with FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED and 6 others.

How many employees does FSS have?

As of Sep 30, 2026, the latest employee count at FSS is 3151.

Is FSS a funded company?

FSS is a funded company, having raised a total of $127M across 3 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Jul 13, 2008.

How much is FSS worth?

The latest valuation of FSS is $***** as of Nov 05, 2014.

When was the latest funding round of FSS?

FSS's latest funding was a $***** Series C round on Oct 13, 2014, with participation from 3 investors.

What is the annual revenue of FSS?

Annual revenue of FSS is between ₹500 Cr and ₹1,000 Cr as on Mar 31, 2025

Where does FSS rank among its competitors?

FSS ranks 2nd amongst 246 active competitors, of which 21 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Silverflow, which secured $40M in Mar, 2026.

Who are the top competitors of FSS?

FSS's top competitors include Monavate, Elavon and Paysera. Among them, Silverflow secured the most recent funding round in March, 2026.

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

Company Details

Developer of digital payment technology solutions and software platforms. The company provides a comprehensive suite of products across the payment value chain, including card issuance, merchant acquiring, and real-time payment processing. Its offerings encompass reconciliation systems, ATM management services, and secure authentication tools. The platform supports microservices architecture to enable the creation and deployment of payment applications, facilitating digital transformation for financial institutions and payment service providers.

Website: www.fsstech.com/
Social
Email ID: *****@fsstech.com
Phone Number: +91 **********
Registered Address: SARADHAGROUNDFLOOR,NO.42,THIRDMAINROAD,GANDHINAGAR,ADYAR, CHENNAI, Tamil Nadu, India, 600020

Key Metrics

Founded Year

1991

Stage

Series C

Total Funding

$127M in 3 rounds

Latest Funding Round

Series C, Oct 13, 2014, $*****

Post Money Valuation

$***** as on Nov 05, 2014

Investors

New Enterprise Associates & 8 more

Ranked

2^nd among 246 active competitors

Annual Revenue

₹500 - ₹1,000 Cr as on Mar 31, 2025

Employee Count

3,151 as on Sep 30, 2026

Investment & Acquisitions

Ecentric & 1 more

Similar Companies

Monavate & 310 more

View FSS's full profile

FSS is associated with 7 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
FSS TECHNOLOGIES (AUSTRALIA) PTY. LTD. CIN: 134235699 , Australia, Active	Nov 18, 2008	-	-
FSS INDIA PRIVATE LIMITED CIN: U72200TN2008PTC068382 , India, Active	Jun 27, 2008	0 - ₹10 Cr (As on Mar 31, 2023)	-
FSS GRAMEENPAY PRIVATE LIMITED CIN: U65900TN2018PTC125591 , India, Active	Oct 31, 2018	0 - ₹10 Cr (As on Mar 31, 2025)	-
FSS TECHNOLOGIES PRIVATE LIMITED CIN: U72900TN2007PTC080726 , India, Active	Mar 13, 2007	0 - ₹10 Cr (As on Mar 31, 2025)	-
FSS Technologies (UK) Ltd CIN: 7110237 , Germany, Active	Dec 20, 2009	-	2 (As on Dec 31, 2021)
FSS TECHNOLOGIES, LLC CIN: 300887538 , United States, Active	Dec 31, 1999	-	70 (As on Dec 31, 2024)	-
FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED CIN: U52599TN1991PTC020361 , India, Active	Feb 20, 1991	₹500 - ₹1,000 Cr (As on Mar 31, 2025)	1046 (As on May 31, 2026)

FSS has raised a total funding of $127M over 3 rounds. Its first funding round was on Jul 13, 2008. Its latest funding round was a Series C round on Oct 13, 2014 for $*****. 3 investors participated in its latest round. FSS has 6 institutional investors and 3 angel investors.

Here is the list of recent funding rounds of FSS:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Oct 13, 2014	4756384	Series C	3886805	6072907	5635310	5826183
Dec 24, 2009	9077649	Series B	4195828	5934046	7794137	Jacob Ballas Capital
Jul 13, 2008	5709499	Series A	4597072	1162832	The Carlyle Group	3101318

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View details of FSS's funding rounds and investors

The founders of FSS is Nagaraj Mylandla. Viswanathan Balasubramanian is the CEO of FSS.

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

Nagaraj Mylandla: Founder & Managing Director of FSS. They serve on the board of 1 company.
Viswanathan Balasubramanian: CEO of FSS.

FSS's Board of Directors

FSS's board has 8 active members. Srinivas Chidambaram, Prakash Chellam, Nagaraj Mylandla and Bala C Deshpande are part of team and Rudhraapathy Jagannathan, Sharada Mylandla, Baskaran Ganesh Iyer and Vijendar Dwarakanath are independent board members.

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

Name	Type	Representing	Status	Duration
xiarhtl	Team	-	Past	2y 3m
Srinivas Chidambaram	Investor	Jacob Ballas Capital	Current	16y 8m
Prakash Chellam	Investor	-	Current	2y 2m
lqfxlly	Investor	awsaz{c	Current	6y 1m
ctwcfry	Investor	nnb{otv	Past	3y 3m
chxyq{z	Investor	scgohsk	Past	6y 6m
Rudhraapathy Jagannathan	Independent board member	-	Current	28y 11m
oylgldk	Independent board member	-	Current	9y 6m
zm{itga	Independent board member	-	Current	9y 2m
xrd{lhg	Independent board member	-	Past	1y 6m
eeoqxqj	Independent board member	-	Past	9y 6m

View details of FSS's Founder profiles and Board Members

FSS's employee count trend

FSS has 3,151 employees as of Sep 26. Here is FSS's employee count trend over the years:

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Top competitors of FSS include Monavate, Elavon and Paysera. Here is the list of Top 10 competitors of FSS, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Monavate 2019, Cambridge (United Kingdom), Acquired	Online payment and issuer processing solution for businesses	$6.89M	-	64/100
2nd	FSS 1991, Series C	Developer of digital payment technology solutions and software platforms	$127M	Premji Invest, MegaDelta Capital & 7 others	64/100
3rd	Elavon 1991, Atlanta (United States), Acquired	Global payment processing solutions for businesses of all sizes and industries	-	-	63/100
4th	Paysera 2004, Vilnius (Lithuania), Series A	Banking channels and issuer processing solutions	$8.62M	-	62/100
5th	Heartland Payment Systems 1997, Princeton (United States), Acquired	Payment processing, POS and Gift Card services	$40M	LLR Partners, GCP Capital Partners	62/100
6th	CPI Card Group 1995, Littleton (United States), Public	Payment card and issuer processing solutions	-	Demtech, Parallel49 Equity & 1 others	61/100
7th	Enfuce 2016, Espoo (Finland), Series C	Provider of open banking API solutions	$74.2M	Vitruvian Partners, Maki & 6 others	61/100
8th	i2c 2001, Redwood City (United States), Unfunded	Provider of issuer processing, fraud risk management, and core banking services	-	-	61/100
9th	Silverflow 2019, Amsterdam (Netherlands), Series B	Issuer processor providing payment processing solution for businesses	$76.4M	Picus Capital, Coatue & 7 others	60/100
10th	Conferma 2004, Cheadle (United Kingdom), Unfunded	Provider of virtual card and payment solutions for business transactions	-	-	60/100

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FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED, the legal entity associated with FSS, generated between ₹500 Cr and ₹1,000 Cr in revenue for the financial year ending on Mar 31, 2025. The revenue of FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED has a compounded annual growth rate (CAGR) of -9% in the last 1 year.

Financial Statement Summary

Metrics	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21
Income Statement
Revenue	3196	9550	5304	3969	8784
Total Sales	8165	5448	5148	1271	5036
Total Expenses	6374	8231	5983	1698	5894
Operating Expenses	5293	7358	1663	8268	5702
Employee Expenses	6239	1181	2751	3687	4800
Marketing Expenses	1086	9165	7633	5978	2684
Operating Income (EBIT)	7491	8896	7718	6155	7751
Interest Expenses	4747	2722	2697	4760	9768
Expenses from other activities	6160	8738	7830	7673	9580
EBITDA	6454	6541	6902	9641	7191
Taxes	2093	6978	4781	9200	2466
Net Profit	9802	6040	6875	6377	8606
Balance Sheet
Assets	5225	2719	4176	2763	3851
Cash Equivalent	8965	3716	2288	8263	9044
Accounts Receivables	4637	3737	3365	4656	9379
Inventory	8107	2969	1165	7401	5877
Liabilities	1420	6720	1980	1505	2121
Total Debt	3486	6105	1831	9234	2697
Accounts Payable	6172	2367	9944	6246	2021
Equities	4544	6797	9685	8191	1596
Cashflow Statement
Cash from Operating activities	5604	9981	7598	7269	5320
Cash from Investing activities	8665	7743	8048	7428	1340
Net cash from Financing activities	7090	7300	3160	7995	1461

Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)

Founders own 29.59%, Funds (largest shareholder) own 48.71%, Other People own 13.32% and ESOP Pool own 5.32%. The net worth of FSS's founders is INR 486Cr as of Nov 05, 2014. The cap table displayed below is for FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED which is the legal entity associated with FSS.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	29.59%	486Cr	9201907	9972176	5103907	8158446
Nagaraj Mylandla	5492881	6264831	4049765	6592307	6042843	9028256
Fund	48.71%	800Cr	6716390	1563489	2014325	9812523
New Enterprise Associates	3248893	3743279	2890490	6289623	5194935	2649988
Jacob Ballas Capital	9726522	9716175	7476243	8869914	8133442	6559916
Premji Invest	2079392	3995355	2173618	4165177	8098340	5870099
The Carlyle Group	0	0	0	0	0	0
Other People	13.32%	219Cr	6337307	8587562	9340493	2474303
ESOP Pool	5.32%	87.4Cr	50204	45724	45746	11415
Other Investors	3.06%	50.3Cr	150	312	617	197
Total	100.00%	1,640Cr	2523406	3226949	7724648	3850466