When was FSS founded?

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

Where is FSS located?

FSS is headquartered in Chennai, India. It is registered at SARADHAGROUNDFLOOR,NO.42,THIRDMAINROAD,GANDHINAGAR,ADYAR, CHENNAI, Tamil Nadu, India, 600020.

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 Aug 31, 2026, the latest employee count at FSS is 3143.

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 1st amongst 235 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 Elavon, Monavate and TSYS. Among them, Silverflow secured the most recent funding round in March, 2026.

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

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 235 active competitors, including 21 funded and 57 that have exited. Its top competitors include companies like Elavon, Monavate and TSYS.

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

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

Post Money Valuation

₹***** as on Nov 05, 2014

Investors

New Enterprise Associates & 8 more

Ranked

1^st among 235 active competitors

Annual Revenue

₹500 - ₹1,000 Cr as on Mar 31, 2025

Employee Count

3,143 as on Aug 31, 2026

Investment & Acquisitions

Ecentric & 1 more

Similar Companies

Elavon & 298 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	Documents
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)	1 (As on Aug 01, 2024)

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	3488374	Series C	1369853	7038243	3858873	8255206
Dec 24, 2009	6599297	Series B	7149474	2293416	1912853	Jacob Ballas Capital
Jul 13, 2008	6632067	Series A	6621181	2026278	The Carlyle Group	7035406

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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
kmtvgdp	Team	-	Past	9y 2m
Srinivas Chidambaram	Investor	Jacob Ballas Capital	Current	16y 5m
Prakash Chellam	Investor	-	Current	1y 11m
lbnbarz	Investor	ivqibfz	Current	1y 2m
d{otjoe	Investor	heziobg	Past	1y 9m
hpejubv	Investor	mf{euwb	Past	2y 4m
Rudhraapathy Jagannathan	Independent board member	-	Current	28y 9m
fetiavu	Independent board member	-	Current	9y 4m
icsajvt	Independent board member	-	Current	6y 2m
rogkaqq	Independent board member	-	Past	6y 3m
cxlfa{s	Independent board member	-	Past	1y 2m

View details of FSS's Founder profiles and Board Members

FSS's employee count trend

FSS has 3,143 employees as of Aug 26. Here is FSS's employee count trend over the years:

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Top competitors of FSS include Elavon, Monavate and TSYS. 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	FSS 1991, Chennai (India), Series C	Provider of payment technology solutions for card issuance and management	$127M	Premji Invest, The Carlyle Group & 7 others	64/100
2nd	Elavon 1991, Atlanta (United States), Acquired	Global payment processing solutions for businesses of all sizes and industries	-	-	63/100
3rd	Monavate 2019, Cambridge (United Kingdom), Acquired	Online payment and issuer processing solution for businesses	$6.89M	-	63/100
4th	TSYS 1982, Columbus (United States), Acquired	Issuer processing solutions	-	-	61/100
5th	EVO Payments 1989, Atlanta (United States), Acquired	Merchant acquiring and payment processing solutions	-	Ranger Investments, MDP	61/100
6th	Paysera 2004, Vilnius (Lithuania), Series A	Banking channels and issuer processing solutions	$8.62M	-	59/100
7th	CPI Card Group 1995, Littleton (United States), Public	Payment card and issuer processing solutions	-	Demtech, Parallel49 Equity	59/100
8th	Silverflow 2019, Amsterdam (Netherlands), Series B	Issuer processor providing payment processing solution for businesses	$76.4M	Coatue, Picus Capital & 6 others	58/100
9th	Heartland Payment Systems 1997, Princeton (United States), Acquired	Payment processing, POS and Gift Card services	$40M	LLR Partners, GCP Capital Partners	58/100
10th	Enfuce 2016, Espoo (Finland), Series C	Provider of open banking API solutions	$74.2M	Vitruvian Partners, Tencent & 5 others	58/100

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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	5841115	5279126	9557163	7746279
Nagaraj Mylandla	6008455	9753798	4647194	3552604	1552771	5608150
Fund	48.71%	800Cr	4764957	6806795	2256360	8949402
New Enterprise Associates	4703095	5546971	2750791	1865762	9625007	9468996
Jacob Ballas Capital	3420618	3855772	6302322	5347149	2113229	5783470
Premji Invest	6777728	3789099	8924981	7926816	4252717	8446544
The Carlyle Group	0	0	0	0	0	0
Other People	13.32%	219Cr	6373292	7160680	6992175	9473457
ESOP Pool	5.32%	87.4Cr	62036	15225	24815	43771
Other Investors	3.06%	50.3Cr	269	282	959	410
Total	100.00%	1,640Cr	1954928	1548858	8737570	2097069