When was PayMate founded?

PayMate was founded in 2006 and raised its 1st funding round within a year of its incorporation.

Where is PayMate located?

PayMate is headquartered in Mumbai, India. It is registered at NO.111, 1ST FLOOR, 'A' WING, SUNDERVILLA S.V.ROAD, SANTACRUZ (WEST), Mumbai City, MUMBAI, Maharashtra, India, 400054.

Who is the current CEO of PayMate?

Ajay Adiseshann of PayMate. They have also founded 1 company and are an angel investors in 1 startup.

Which legal entities is PayMate associated with?

PayMate is associated with Paymate India Limited.

How many employees does PayMate have?

As of May 31, 2025, PayMate has 160 employees, reflecting a 9% year-over-year decline in headcount.

Is PayMate a funded company?

PayMate is a funded company, having raised a total of $58.7M across 11 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Jul 07, 2006.

How much is PayMate worth?

The latest valuation of PayMate is ₹***** as of Jul 19, 2024.

When was the latest funding round of PayMate?

PayMate's latest funding was a $***** Series E round on Jul 19, 2024, with participation from 4 investors. Its primary sector is Finance & Accounting Tech. In India, the Finance & Accounting Tech sector has seen $24.7M in funding in 2026 to date.

Where does PayMate rank among its competitors?

PayMate ranks 16th amongst 718 active competitors, of which 51 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was Fazeshift, which secured $17M in May, 2026.

Who are the top competitors of PayMate?

PayMate's top competitors include Bill, Zuora and Melio. Among them, Fazeshift secured the most recent funding round in May, 2026.

PayMate - 2026 Company Profile, Team, Funding & Competitors

PayMate is a series E company based in Mumbai (India), founded in 2006 by Vishvanathan Subramanian, Ajay Adiseshann and Anupam Mukerji. It operates as a Provider of B2B payment automation and supply chain finance solutions. PayMate has raised $58.7M in funding from investors like Felicitas Global Partners, Visa and Mayfield, with a current valuation of ₹*****. The company has 718 active competitors, including 51 funded and 41 that have exited. Its top competitors include companies like Bill, Zuora and Melio.

Company Details

Provider of B2B payment automation and supply chain finance solutions. The company offers tools for automating vendor payments, managing cash flow, and early payment programs. It provides integrations with back-end systems for payment processing and reporting. The company also offers credit evaluation and analysis for working capital credit.

Website: paymate.in
Social
Email ID: *****@paymate.co.in, *****@paymate.co.in
Phone Number: +91 **********
Registered Address: NO.111, 1ST FLOOR, 'A' WING, SUNDERVILLA S.V.ROAD, SANTACRUZ (WEST), Mumbai City, MUMBAI, Maharashtra, India, 400054

Key Metrics

Founded Year

2006

Location

Mumbai, India

Stage

Series E

Total Funding

$58.7M in 11 rounds

Latest Funding Round

Series E, Jul 19, 2024, $*****

Post Money Valuation

₹***** as on Jul 19, 2024

Investors

Felicitas Global Partners & 42 more

Ranked

16^th among 718 active competitors

Employee Count

160 as on May 31, 2025

Investment & Acquisitions

Z2P

Similar Companies

Bill & 825 more

View PayMate's full profile

PayMate is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Paymate India Limited CIN: U62090MH2006PLC205023 , India, Active	May 12, 2006	-	-

PayMate has raised a total funding of $58.7M over 11 rounds. Its first funding round was on Jul 07, 2006. Its latest funding round was a Series E round on Jul 19, 2024 for $*****. 4 investors participated in its latest round. PayMate has 23 institutional investors and 20 angel investors.

Here is the list of recent funding rounds of PayMate:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jul 19, 2024	9679839	Series E	2894529	8549431	6145963	7230146
May 21, 2024	2400958	Angel	2821731	5465504	7624616	Siddharth Shah & 2 more
Feb 22, 2023	2527623	Series E	3792702	3223184	3962388	Caress Beauty Care Products & 4 more

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View details of PayMate's funding rounds and investors

The founders of PayMate are Vishvanathan Subramanian, Ajay Adiseshann and Anupam Mukerji. Ajay Adiseshann is the CEO of PayMate.

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

Vishvanathan Subramanian: CFO & Director of PayMate. They are also an angel investor in 3 startups.
Contact Info: 1 phone number
Ajay Adiseshann: Founder & CEO of PayMate and founder of 1 other company. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Anupam Mukerji: Head of Marketing of PayMate.

PayMate's Board of Directors

PayMate's board has 5 active members. Ajay Adiseshann is part of team and Monica Doshi Niranjan, Ashimkumar Jaswantkumar Banerjee, Kevin Christopher Phalen and Nanda Harish are independent board members.

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

Name	Type	Representing	Status	Duration
urjwjcn	Team	-	Past	3y 4m
pdybsej	Team	-	Past	5y 4m
foqgxxh	Investor	yx{azet	Past	3y 8m
Monica Doshi Niranjan	Independent board member	-	Current	4y 3m
vnwqsnf	Independent board member	-	Current	2y 4m
z{rec{s	Independent board member	-	Current	7y 4m
bmzwktr	Independent board member	-	Current	2y 3m

View details of PayMate's Founder profiles and Board Members

PayMate's employee count trend

PayMate has 160 employees as of May 25. The total employee count is 9.0% lower than what it was in May 24. Here is PayMate's employee count trend over the years:

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Top competitors of PayMate include Bill, Zuora and Melio. Here is the list of Top 10 competitors of PayMate, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Bill 2006, San Jose (United States), Public	Provider of accounts payable, accounts receivable, and spend management solutions	$326M	August Capital, Icon Ventures & 28 others	81/100
2nd	Zuora 2007, Redwood City (United States), Acquired	Cloud-based invoice and subscription management solutions for businesses	$243M	Northgate Capital, Tenaya Capital & 28 others	77/100
3rd	Melio 2018, New York City (United States), Acquired	Provider of accounts payable and receivable solutions for businesses	$654M	Coatue, American Express Ventures & 24 others	77/100
4th	Paymentus 2004, Atlanta (United States), Public	Provider of a platform for intelligent billing and payment solutions	$23.6M	Accel-KKR, HTIF & 2 others	73/100
5th	Lili 2018, New York City (United States), Series B	Digital bank for freelancers	$80M	Group 11, Foundation Capital & 12 others	69/100
6th	Routable 2016, San Francisco (United States), Series B	Provider of accounts payable automation, vendor management, and payment solutions	$47.7M	Y Combinator, BoxGroup & 23 others	66/100
7th	Global Healthcare Exchange 2000, Louisville (United States), Acquired	Cloud-based healthcare supply chain solutions for efficiency and improved patient outcomes	-	Golub Growth, Ares Capital Corporation & 4 others	63/100
8th	Fazeshift 2023, San Francisco (United States), Series A	Provider of AI-driven solution automating accounts receivable workflows and cash application	$22M	F-Prime Capital, Y Combinator & 9 others	62/100
9th	Viewpost 2011, Maitland (United States), Series C	Online payment solutions for businesses	$129M	Cresset Partners, Western Technology Investment ... & 3 others	62/100
10th	Monite 2020, Berlin (Germany), Acquired	Developer of API platform providing automated invoicing and bill payment solutions	$22.8M	Valar Ventures, Third Prime & 24 others	57/100
16th	PayMate 2006, Mumbai (India), Series E	Provider of B2B payment automation and supply chain finance solutions	$58.7M	Visa, Kleiner Perkins & 41 others	55/100

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Founders own 33.55%, Funds (largest shareholder) own 36.08%, Enterprises own 7.24% and Angels own 2.16%. The net worth of PayMate's founders is INR 2,680Cr as of Jul 19, 2024.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	33.55%	2,680Cr	5319695	4519530	2246874	2123157
Ajay Adiseshann	9948349	1394920	1619845	6878722	1474385	9375936
Fund	36.08%	2,880Cr	7357184	1205426	8400368	4158592
Brand Capital	6	1	5	5	2	4
Felicitas Global Partners	0	0	0	0	0	0
Enterprise	7.24%	578Cr	3455694	6750868	8448327	2777892
Angel	2.16%	173Cr	77	96	43	38
Anil Chandirani	0	0	0	0	0	0
Vishvanathan Subramanian	0	0	0	0	0	0
Siddharth Shah	0	0	0	0	0	0
Shikhar Kacker	0	0	0	0	0	0
Other People	4.22%	337Cr	8252	5754	3967	7553
ESOP Pool	16.37%	1,310Cr	5777529	7256916	7390485	3012053
Other Investors	0.37%	29.9Cr	0	0	0	0
Total	100.00%	7,980Cr	3550790	5853382	4816267	3444784