Plutos ONE

Based in Delhi, India, Plutos ONE was founded in 2021 by Rohit Mahajan and Rajjat Gulati. The founders identified that while digital payments were transforming consumer behavior, many banks struggled with the infrastructure needed to support this shift. Plutos ONE was established to bridge this gap, positioning itself as a technology service provider for the Bharat Bill Payment System (BBPS), licensed by the NPCI Bharat BillPay Limited.

The company operates on a B2B SaaS model, providing a digital payments backbone for financial institutions. Its primary clients are banks, for whom it offers a suite of products to facilitate bill payment solutions. Revenue is generated through multiple streams, including subscription fees from banks, transaction-based fees for payments processed via the BBPS network, and charges for premium services. These premium offerings include advanced analytics, AI-driven customer engagement tools, and white-labeled payment solutions. The company also runs a merchant-funded offers platform with over 400 brands, managing card activation and incentive programs for banks and networks.

Plutos ONE's core service enables banks to function as Biller Operating Units (BOUs) within the BBPS framework, allowing for real-time transaction management and automated reconciliation. This system integrates a wide network of over 1,200 billers across various sectors like utilities and telecom. A key feature is its conversational AI platform, which allows end-users to discover offers and pay bills through messaging apps like WhatsApp, supporting multiple languages and voice commands. The company has secured total funding of $2.7 million over several rounds, with a significant seed round of $2 million in 2024 led by Startupxseed Ventures. Plutos ONE has partnered with major financial entities including HDFC, Kotak Mahindra Bank, Visa, and NPCI.

Keywords: fintech, B2B SaaS, payment infrastructure, Bharat Bill Payment System, BBPS, digital payments, banking technology, conversational AI, biller operating unit, payment gateway, financial services, API banking, customer engagement platform, merchant offers, card activation, transaction management, payment reconciliation, digital banking solutions, India fintech, Rohit Mahajan, Rajjat Gulati