OmniCard

OmniCard, operated by Eroute Technologies Private Limited, is an AI-powered fintech platform for business expenditure management based in Noida, India. The company, founded in 2018 by Sanjeev Pandey, Abhishek Saxena, Abhinav Saxena, and Jason Ho, received authorization from the Reserve Bank of India (RBI) as a Prepaid Payment Instrument (PPI) issuer. Co-founder Sanjeev Pandey formerly served as a group president at Yes Bank, while Abhishek Saxena is an IIT-BHU alumnus and was the Managing Director of Taisys, a technology firm specializing in payment applications.

OmniCard provides a SaaS-based platform that includes UPI-enabled corporate cards, a mobile application, and omnichannel payment solutions to streamline business expenses. The platform is designed for a range of clients, from SMEs to large enterprises, and serves companies like CarDekho, Policy Bazaar, PUMA, and government entities such as SIDBI and NABARD. It enables businesses to issue and manage RuPay prepaid cards, process UPI payments without a direct link to a bank account, handle petty cash, manage billing and invoicing, and generate MIS reports. The system offers API-driven integration for creating custom spending infrastructures. Initially, in 2021, the company launched a prepaid card targeting individuals aged 15-24.

The company's business model incorporates B2B, B2C, and B2B2C strategies, generating revenue through commissions on transactions and subscription fees. As an RBI-authorized direct PPI issuer, OmniCard operates independently of banks, which provides it with operating margin advantages. Since its inception, OmniCard has raised a total of $6.64 million over seven funding rounds. Its latest seed round in May 2024 raised $3 million, led by Taisys and Ankurit Capital.

Keywords: expense management, corporate cards, UPI payments, fintech OS, petty cash management, spend management platform, RuPay prepaid cards, API integration, business payment solutions, SaaS, omnichannel payments, employee reimbursements, financial software, digital payments, corporate gifting, B2B payments, payment processing, accounts payable, financial control, vendor payments