Zenpay Solutions

Zenpay Solutions Private Limited is a financial technology company that provides digital payment solutions for employers and their employees, particularly focusing on the blue-collared workforce in India. Founded in 2018 by Ankit Bhargava, the company aims to simplify payroll processes for corporations and improve financial accessibility for employees. Bhargava, leveraging his background in banking, identified a need for zero-balance salary accounts for workers who lacked this facility and established Zenpay Solutions to address this gap.

The company's core services revolve around a digital platform that enables employers to perform tax-compliant payroll processing. For employees, Zenpay offers a digital zero-balance salary account and a single smart card to manage all expenses. This card allows users to transfer money to any bank account without additional charges and track their finances through an interactive dashboard. The platform is designed to help companies efficiently manage their employee database and salary disbursement, especially those with a large workforce.

Zenpay Solutions operates in the B2B fintech market, serving corporations by streamlining their salary processing. Its business model involves providing these payroll services and salary cards to corporate clients. The company has received angel funding, with rounds led by investors such as The StartupLab and AngelBay, to expand its technology, sales teams, and service offerings. As of late 2021, the company had processed over INR 600 crore in transaction volume and served over 150,000 workers. The firm's revenue was reported as ₹3.48Cr for the fiscal year ending March 31, 2024.

Keywords: digital payments, employee salary card, payroll processing, expense management, fintech solutions, zero-balance accounts, corporate payroll, blue-collar workforce, financial inclusion, B2B fintech, salary disbursement, employee benefits, payment solutions, digital banking, financial services