Fintech Startup Payinstacard Secures Seed Funding from Angel Investors

Payinstacard, an app that makes bill payments easy and rewarding has successfully raised an undisclosed and major investment. The funding round saw participation from notable business personalities, Mr. PC Doraswamy and Mrs. Sandhya Rani Maddipati, marking a key milestone in the company’s growth trajectory.

Mr. PC Doraswamy, a veteran business leader and Partner at Brandix India, brings a wealth of experience and strategic insight, which will be invaluable in steering Payinstacard’s future initiatives. Joining him is Mrs. Sandhya Rani Maddipati, a former banker turned successful industrialist, whose expertise in the financial sector is expected to further enhance Payinstacard’s innovative solutions.

Commenting on the investment, Payinstacard’s Founders, Mr. Sai Krishna Musunuru and Mr. Sri Nagesh Kotipalli, expressed optimism about the future of fintech in India. They highlighted the vast potential in the Indian market, with over 350 million active payment users expected to grow to 700 million by 2030. Payinstacard aims to capitalize on this expansion by introducing more user-friendly and innovative payment solutions tailored to the Indian populace.

Mr. Doraswamy shared his enthusiasm about the investment, stating, “Investing in Payinstacard was a strategic decision driven by my belief in their vision and their technological approach to revolutionizing bill payments. I see immense potential for growth and innovation in the Indian fintech landscape through Payinstacard.

“This investment is not just about financial input but is also a strong vote of confidence in our vision to revolutionize the way bills are paid in India,” stated Mr. Sai Krishna Musunuru. Mr. Sri Nagesh Kotipalli emphasized the importance of the strategic insight and experience that the new board members bring to the table. He remarked, “Having industry stalwarts like Mr. Doraswamy and Mrs. Sandhya on our board will greatly enhance our capability to innovate and extend our market reach.”

Incepted in 2022, Payinstacard Pvt Ltd is at the forefront of redefining the bill payments process in India, focusing on creating a seamless, secure, and user-friendly platform that caters to the needs of millions of Indians. The company’s mission is to leverage technology to simplify financial transactions and make Digital Payments Rewarding and Accessible to all segments of society.