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 and 1 other.

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. Globally, the Finance & Accounting Tech sector has seen $1.18B in funding in 2026 to date.

What is the annual revenue of PayMate?

Annual revenue of PayMate is ₹1,340Cr as on Mar 31, 2024.

Where does PayMate rank among its competitors?

PayMate ranks 15th amongst 707 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 Mimo, which secured $8.5M in Mar, 2025.

Who are the top competitors of PayMate?

PayMate's top competitors include Bill.com, Clear and Melio. Among them, Mimo secured the most recent funding round in March, 2025.

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

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 & 43 more

Ranked

15^th among 707 active competitors

Annual Revenue

₹1,340Cr as on Mar 31, 2024

Employee Count

160 as on May 31, 2025

Investment & Acquisitions

Z2P

Similar Companies

Bill.com & 814 more

View PayMate's full profile

PayMate is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Paymate India Limited CIN: U62090MH2006PLC205023 , India, Active	May 12, 2006	$162M (As on Mar 31, 2024)	80 (As on May 31, 2025)
PAYMATE INDIA LIMITED CIN: U62090MH2006PLC205023 , India, Active	May 12, 2006	$162M (As on Mar 31, 2024)	83 (As on Feb 01, 2025)

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 21 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	2673651	Series E	6692412	1826675	1453670	7221951
May 21, 2024	9831971	Angel	9178881	6631671	3466065	Siddharth Shah & 2 more
Feb 22, 2023	9729296	Series E	7094878	4538868	6472361	Caress Beauty Care Products & 5 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.
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
mv{blpr	Team	-	Past	8y 9m
h{iyqjv	Team	-	Past	1y 7m
ossoz{s	Investor	sxvaxpd	Past	9y 3m
Monica Doshi Niranjan	Independent board member	-	Current	4y 0m
y{zfxjr	Independent board member	-	Current	8y 7m
fxkewkq	Independent board member	-	Current	1y 3m
sbujcpy	Independent board member	-	Current	9y 1m

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.com, Clear 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.com 2006, Palo Alto (United States), Public	Provider of accounts payable, accounts receivable, and spend management solutions	$326M	Icon Ventures, August Capital & 28 others	84/100
2nd	Clear 2011, Bengaluru (India), Series C	Technology-enabled accounting and finance solutions for SMBs	$141M	PayPal, Composite Capital Management & 27 others	79/100
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	Zuora 2007, Redwood City (United States), Acquired	Cloud-based invoice and subscription management solutions for businesses	$243M	Wellington, Benchmark & 27 others	77/100
5th	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
6th	Lili 2018, New York City (United States), Series B	Digital bank for freelancers	$80M	Group 11, Zeev Ventures & 12 others	68/100
7th	Routable 2016, San Francisco (United States), Series B	Provider of accounts payable automation, vendor management, and payment solutions	$47.7M	Y Combinator, Liquid 2 Ventures & 22 others	67/100
8th	Global Healthcare Exchange 2000, Louisville (United States), Acquired	Cloud-based healthcare supply chain solutions for efficiency and improved patient outcomes	-	Warburg Pincus, Ares Capital Corporation & 4 others	65/100
9th	Mimo 2023, London (United Kingdom), Seed	Cashflow and payments management platform for businesses	$28.1M	Project A, Northzone & 4 others	62/100
10th	Invoice Cloud 2009, Braintree (United States), Acquired	Provider of digital billing and payment platform for multiple industries	-	Summit Partners, Ares Capital Corporation ... & 1 others	59/100
15th	PayMate 2006, Mumbai (India), Series E	Provider of B2B payment automation and supply chain finance solutions	$58.7M	Visa, Kleiner Perkins & 42 others	54/100