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 7th amongst 125 active competitors, of which 28 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Finexio, which secured $10M in Dec, 2024.

Who are the top competitors of PayMate?

PayMate's top competitors include Billhop, Incedo and Finexio. Among them, Finexio secured the most recent funding round in December, 2024.

PayMate - 2026 Company Profile, Team, Funding & Competitors

Company Details

Provider of automated payment processing and supply chain finance services. This platform facilitates business-to-business transactions by enabling payments to vendors and tax authorities through commercial credit cards. It integrates with existing accounting systems to streamline payment workflows and reporting. The system supports invoice discounting, allowing enterprises to utilize capital for early vendor payments in exchange for discounts. Additionally, it provides tools for evaluating payment data to assist in working capital management.

Website: paymate.in
Social
Email ID: *****@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

7^th among 125 active competitors

Employee Count

160 as on May 31, 2025

Investment & Acquisitions

Z2P

Similar Companies

Billhop & 158 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	9815237	Series E	3603279	9537494	8445803	8149833
May 21, 2024	8777821	Angel	5884683	6460030	9044467	Siddharth Shah & 2 more
Feb 22, 2023	9721165	Series E	1447150	5660188	3625326	Caress Beauty Care Products & 4 more

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View details of PayMate's funding rounds and investors

The founders of PayMate is Ajay Adiseshann. Ajay Adiseshann is the CEO of PayMate.

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

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

PayMate's Board of Directors

PayMate's board has 3 active members. Vishvanathan Subramanian, Ajay Adiseshann and Sandeep Murthy are part of team.

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

Name	Type	Representing	Status	Duration
Vishvanathan Subramanian	Team	-	Current	8y 4m
{jhclzq	Team	-	Current	5y 4m
Sandeep Murthy	Investor	-	Current	19y 8m

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 Billhop, Incedo and Finexio. 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	Billhop 2011, Stockholm (Sweden), Acquired	Provider of solution enabling businesses to pay suppliers via credit card	$20.7M	EQT, 13books Capital & 4 others	61/100
2nd	Incedo 2011, Santa Clara (United States), Funding Raised	Provider of AI and data transformation services and platform solutions	-	Mission Holdings	60/100
3rd	Finexio 2015, San Mateo (United States), Series B	Provider of accounts payable automation and payment processing solutions for businesses	$83.5M	Mendon Venture Partners, Patriot Financial Partners ... & 40 others	58/100
4th	Nvoicepay 2009, Beaverton (United States), Acquired	Provider of AP automation, commercial cards, and cross-border payment solutions	$28.8M	Napier Park Global Capital, Mosaik Partners ... & 5 others	57/100
5th	Solo Technologies 2020, Seattle (United States), Seed	Online platform offering income, and expenses tracking solutions to individuals	$5.3M	Slow Ventures, Expa & 9 others	57/100
6th	Eved 2010, Chicago (United States), Series C	Provides spend management and payments platform for businesses	$31.4M	MK Capital, Pritzker Group & 4 others	55/100
7th	PayMate 2006, Mumbai (India), Series E	Provider of automated payment processing and supply chain finance services	$58.7M	Visa, Kleiner Perkins & 41 others	54/100
8th	Corpay One 2016, Atlanta (United States), Acquired	Provider of spend management platform and smart corporate card solutions	$9.58M	QED Investors, 9Yards & 6 others	53/100
9th	Resolve Corp 2006, San Francisco (United States), Series C	Provider of B2B net terms financing and accounts receivable automation	$85M	Insight Partners, Initialized Capital & 14 others	50/100
10th	Previse 2016, London (United Kingdom), Series B	Provider of AI-driven platform for financial data analysis and automation	$46.6M	Augmentum Fintech, Bessemer Venture Partners ... & 14 others	50/100

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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	2602684	1862928	4429941	8077881
Ajay Adiseshann	3369588	2596647	6164061	4524443	6621536	6069158
Fund	36.08%	2,880Cr	7214171	7324704	6355077	5737109
Brand Capital	5	3	2	3	5	1
Felicitas Global Partners	0	0	0	0	0	0
Enterprise	7.24%	578Cr	3212374	5976917	6571901	3947584
Angel	2.16%	173Cr	88	78	62	50
Anil Chandirani	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	3380	8215	5513	9941
ESOP Pool	16.37%	1,310Cr	7130754	9089301	1019946	6468358
Other Investors	0.37%	29.9Cr	0	0	0	0
Total	100.00%	7,980Cr	5946796	4706386	9649616	7049379