Paytail
Paperless EMI and digital finance for offline retailers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
$1.5m | Seed | ||
| Total Funding | 000k | ||
Paytail Commerce Private Limited is a fintech company based in Gurgaon, India, that provides a technology platform for instant, paperless equated monthly installments (EMIs) and digital financing solutions at offline retail stores. The company was founded in 2020 by Vikas Garg and Amit Chaturvedi, who previously worked together at a US-based SaaS fintech unicorn. The idea for Paytail originated when co-founder Vikas Garg, a former corporate banker, identified a gap in the market for consumer credit in sectors beyond consumer durables, particularly for the 95% of India's retail market that operates offline.
Paytail's business model connects corporates, lending institutions, offline merchants, and consumers. It provides a mobile application-based technology that allows merchants to offer customers affordable EMI and cashback options at the point of sale, aiming to help smaller sellers compete with large e-commerce businesses. The platform works with non-banking financial companies (NBFCs) and banks to facilitate instant loan processing for consumers. The onboarding process for merchants is entirely digital, and they receive transaction settlements within 30 minutes. Paytail primarily targets Tier 2 and Tier 3 cities, focusing on underserved and unpenetrated markets.
Since beginning operations in April 2021, the company has expanded its network to include over 85,000 merchants and has established partnerships with more than 10 corporations, such as Vivo, Oppo, Voltas, and Hero Cycles. In September 2021, Paytail raised $1.5 million in a seed funding round led by Cholamandalam Investment and Finance Company, with participation from other angel investors. The company reported total disbursals of ₹1200 crores in FY23, a significant increase from ₹142 crores in the previous fiscal year, and has achieved operating profitability.
Keywords: offline retail finance, point of sale financing, instant EMI, paperless loans, buy now pay later, BNPL India, consumer lending, merchant financing, fintech platform, digital lending, consumer credit, retail technology, financial inclusion, checkout finance, small business credit, Vikas Garg, Amit Chaturvedi, Cholamandalam, customer financing, digital payments