FSS - About the company
FSS is a series C company based in Chennai (India), founded in 1991 by Nagaraj Mylandla. It operates as a Provider of payment technology solutions for card issuance and management. FSS has raised $127M in funding from investors like New Enterprise Associates, The Carlyle Group and Premji Invest, with a current valuation of ₹*****. The company has 196 active competitors, including 20 funded and 57 that have exited. Its top competitors include companies like Silverflow, Monavate and Elavon.
Company Details
Provider of payment technology solutions for card issuance and management. The company offers products for merchant acquiring, real-time payments, and reconciliation. It provides solutions for card lifecycle management, ATM operations, and enterprise transformation. The company also offers a low-code application development platform and an innovation hub.
- 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
Location
Chennai, India
Stage
Series C
Total Funding
$127M in 3 rounds
Latest Funding Round
Post Money Valuation
₹***** as on Nov 05, 2014
Investors
Ranked
2nd among 196 active competitors
Annual Revenue
₹500 - ₹1,000 Cr as on Mar 31, 2025
Employee Count
3,107 as on May 31, 2026
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Legal entities associated with FSS
FSS is associated with 7 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
FSS TECHNOLOGIES PRIVATE LIMITED CIN: U72900TN2007PTC080726 , India, Active | Mar 13, 2007 | 0 - ₹10 Cr (As on Mar 31, 2025) | - | |
FSS TECHNOLOGIES, LLC CIN: 300887538 , United States, Active | Dec 31, 1999 | - | 70 (As on Dec 31, 2024) | - |
FSS GRAMEENPAY PRIVATE LIMITED CIN: U65900TN2018PTC125591 , India, Active | Oct 31, 2018 | 0 - ₹10 Cr (As on Mar 31, 2025) | - | |
FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED CIN: U52599TN1991PTC020361 , India, Active | Feb 20, 1991 | ₹500 - ₹1,000 Cr (As on Mar 31, 2025) | 1 (As on Aug 01, 2024) | |
FSS TECHNOLOGIES (AUSTRALIA) PTY. LTD. CIN: 134235699 , Australia, Active | Nov 18, 2008 | - | - | |
FSS Technologies (UK) Ltd CIN: 7110237 , Germany, Active | Dec 20, 2009 | - | 2 (As on Dec 31, 2021) | |
FSS INDIA PRIVATE LIMITED CIN: U72200TN2008PTC068382 , India, Active | Jun 27, 2008 | 0 - ₹10 Cr (As on Mar 31, 2023) | - |
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FSS's funding and investors
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 | 5201802 | Series C | 9414706 | 1135657 | 1766722 | 7013997 |
Dec 24, 2009 | 5431194 | Series B | 2547656 | 6068073 | 8273218 | |
Jul 13, 2008 | 8870126 | Series A | 9568887 | 2700515 | 6093422 |
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FSS's founders and board of directors
Founder? Claim ProfileThe 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 |
|---|---|---|---|---|
ngmpzji | Team | - | Past | 8y 5m |
Investor | Jacob Ballas Capital | Current | 16y 3m | |
Investor | - | Current | 1y 9m | |
lipzxcf | Investor | agany{y | Current | 5y 6m |
apbbmib | Investor | dfioamo | Past | 6y 6m |
ksqhvvt | Investor | nlsjmpp | Past | 6y 3m |
Independent board member | - | Current | 28y 7m | |
yywjenx | Independent board member | - | Current | 8y 9m |
knlipvu | Independent board member | - | Current | 4y 6m |
woqlsbl | Independent board member | - | Past | 9y 2m |
habyjgs | Independent board member | - | Past | 4y 1m |
View details of FSS's Founder profiles and Board Members
FSS's employee count trend
FSS has 3,107 employees as of May 26. Here is FSS's employee count trend over the years:
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FSS's Competitors and alternates
Top competitors of FSS include Silverflow, Monavate and Elavon. Here is the list of Top 10 competitors of FSS, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Silverflow 2019, Amsterdam (Netherlands), Series B | Issuer processor providing payment processing solution for businesses | $76.4M | 64/100 | |
2nd | Provider of payment technology solutions for card issuance and management | $127M | 64/100 | ||
3rd |  Monavate 2019, Cambridge (United Kingdom), Acquired | Online payment and issuer processing solution for businesses | $6.89M | - | 63/100 |
4th | Elavon 1991, Atlanta (United States), Acquired | Global payment processing solutions for businesses of all sizes and industries | - | - | 62/100 |
5th | Provider of open banking API solutions | $74.2M | 62/100 | ||
6th |  Conferma 2004, Cheadle (United Kingdom), Unfunded | Provider of virtual card and payment solutions for business transactions | - | - | 62/100 |
7th | _1587094927442.png?devicePixelRatio=2&height=30&width=30){kind=logo} EVO Payments 1989, Atlanta (United States), Acquired | Merchant acquiring and payment processing solutions | - | 61/100 | |
8th | TSYS 1982, Columbus (United States), Acquired | Issuer processing solutions | - | - | 60/100 |
9th | CPI Card Group 1995, Littleton (United States), Public | Payment card and issuer processing solutions | - | 59/100 | |
10th | Heartland Payment Systems 1997, Princeton (United States), Acquired | Payment processing, POS and Gift Card services | $40M | 58/100 |
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on FSS's competitors? Click here to see the top ones
FSS's Latest cap tables and shareholding
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.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 29.59% | 486Cr | 8991200 | 5558052 | 4259006 | 1164483 |
6123104 | 1994916 | 9045555 | 6418264 | 8721598 | 2802648 | |
Fund | 48.71% | 800Cr | 2744438 | 8325535 | 8847608 | 9463060 |
4601787 | 7472593 | 1214353 | 5788118 | 7464934 | 5295385 | |
6352139 | 9103291 | 1773151 | 5599752 | 3240233 | 6234319 | |
7505934 | 3190882 | 2319938 | 2980075 | 5476695 | 2577027 | |
0 | 0 | 0 | 0 | 0 | 0 | |
Other People | 13.32% | 219Cr | 5866841 | 7359518 | 9362769 | 7498098 |
ESOP Pool | 5.32% | 87.4Cr | 52603 | 75362 | 57865 | 43320 |
Other Investors | 3.06% | 50.3Cr | 488 | 960 | 851 | 656 |
Total | 100.00% | 1,640Cr | 3827248 | 2040598 | 7463988 | 5428350 |
To unlock detailed Cap Table of FSS Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of FSS's Shareholding
FSS's Investments and acquisitions
FSS has made 2 investments in Ecentric and Ecentric. FSS has not made any acquisitions as of now.Reports related to FSS
Here is the latest report on FSS's sector:
News related to FSS
Filter this listMedia has covered FSS for a total of 3 events in the last 1 year, 2 of them have been about company updates.
•
FSS Future-Proofs Middle East Payments with Scalable, Sovereign Cloud InfrastructurePR Newswire•Feb 18, 2026•FSS
•
FSS is the first payments company in India, ME, APAC & SA to achieve ISO IEC 42001 CertificationThe Tribune•Jan 06, 2026•FSS
•
Punjab & Sind Bank onboards BLAZE with Financial Software and SystemsExpress Computer•Nov 19, 2025•FSS, Punjab Sind Bank
•
FSS appoints first-ever Head of AI centre of excellence to pioneer AI-led innovations in India’s payments sectorExpress Computer•May 22, 2025•FSS
•
Financial Software and Systems (FSS) Appoints Vaidyanathan Venkataraman as Head – Global Digital DeliveryBusinessnewsthisweek•Mar 26, 2025•FSS, Unity Small Finance Bank
•
FSS unveils card management system powered by BLAZEElectronic Payments International•Sep 04, 2024•FSS
•
Premji Invest, other private equity investors may seek exit from payment firm FSSMoneycontrol•Aug 07, 2024•Wipro, Premji Invest, FSS, Jacob Ballas Capital
•
•
FSS has been Awarded the Prestigious Great Place To Work CertificationBusiness Review Live•Jan 29, 2024•FSS
•
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