FamPay Revenue, Valuation, Funding & Investors

FamPay is valued at $570M as of June 2021, a 51.8x multiple on its last reported $11M revenue.

Last FamPay valuation

$570M

Series A · Jun 2021

Last FamPay funding round

$38M

Series A · Jun 2021

FamPay revenue

$11M

Series A · Jun 2021

Key investors in FamPay

  • Y Combinator
  • Peak XV Partners
  • Venture Highway
  • Sequoia Capital
  • General Catalyst
  • Global Founders Capital

FamPay Overview

About FamPay

FamPay is a Bengaluru-headquartered fintech launched in 2019, issuing cards for teenagers to handle online and offline payments via the FamCard. Parents transfer funds directly to children's accounts, promoting controlled spending in India.


Founded

2019

HQ

IndiaBangalore

Website

fampay.in

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Revenue

$11M (Jun 2021)

Valuation

$570M (Jun 2021)

FamPay Valuation

FamPay is currently valued at $570M, based on its Series A in June 2021.

The $38M round was led by Elevation Capital, with participation from General Catalyst, Rocketship.vc, Greenoaks, Fethi Kamisli, Venture Highway and 6 other investors.

FamPay valuation by funding round

FamPay valuation by funding round
DateStageValuationRevenue Multiple
Jun 2021Series A$570M51.8x

FamPay Revenue

FamPay's latest recorded revenue is $11M, as of its Series A in June 2021. At a $570M valuation, that implies a 51.8x revenue multiple.

FamPay revenue by funding round

FamPay revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2021$11M$570M51.8xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

FamPay Funding History

FamPay has raised a total of $43M across 3 funding rounds.

FamPay's first fundraising round was a $200K pre-seed round in May 2019. The most recent completed round was a $38M Series A in June 2021.

FamPay funding rounds

FamPay funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series AElevation Capital (lead); General Catalyst; Rocketship.vc; Greenoaks; Fethi Kamisli; Venture Highway; Y Combinator; Z Nation Lab; Global Founders Capital; Sequoia Capital; Peak XV Partners; Cem Garih$38M$570MFamPay is a fintech startup founded by Sambhav Jain and Kush Taneja that builds a neobank designed for teenagers in India. The platform allows users to make online and offline payments through the FamPay app and a digital prepaid card called FamCard, which does not require a traditional bank account—instead, the card is provided by IDFC First Bank and requires parental consent to set up. In addition to payment functionality, FamPay offers gamified savings experiences and an in-app community to help teenagers learn about money management. In June 2021, FamPay completed its Series A funding round, raising $38 million at a post-money valuation of $570 million. The round was led by Elevation Capital and included participation from existing investors Sequoia Capital India, Y Combinator, Venture Highway, and Global Founders Capital, as well as new investors General Catalyst, Rocketship VC, and Greenoaks Capital. This Series A was one of the largest early-stage rounds in the Indian fintech sector at that time. Combined with seed funding of $4.7 million raised in March 2020, FamPay's total capital raised reached $42.7 million. At the time of the Series A, FamPay had achieved rapid growth, crossing 2 million registered users within eight months of launch and maintaining 100% month-on-month growth. Co-founder Sambhav Jain emphasized the market opportunity, noting that with approximately 40% of India's population being under 18 years old, there would be millions of new teenage smartphone users annually. The founders intended to use the capital to expand the user base, develop additional product offerings, hire engineers, and build out the leadership team. Long-term, FamPay aimed to become a comprehensive neobank—the only financial services provider this generation would ever need—rather than just a payments platform.
Mar 2020SeedPeak XV Partners (lead); Venture Highway (lead); Y Combinator (lead)$5M--
May 2019Pre-seedY Combinator (lead); Pioneer Fund$200K--

Who has invested in FamPay?

13 investors have backed FamPay across its funding rounds, including Y Combinator, Peak XV Partners, Venture Highway, Sequoia Capital, General Catalyst and Global Founders Capital.

Lead investors include Elevation Capital, Peak XV Partners, Venture Highway and Y Combinator.


FamPay Investors

Investors in FamPay by funding rounds participated
InvestorHQRoundsRoleFirst check
Y CombinatorUnited StatesSan Francisco, CA3LeadMay 2019
Venture HighwayIndiaBangalore2LeadMar 2020
Peak XV PartnersIndiaBangalore2LeadMar 2020
General CatalystUnited StatesSan Francisco, CA1ParticipantJun 2021
Rocketship.vcUnited StatesSan Francisco, CA1ParticipantJun 2021
GreenoaksUnited StatesSan Francisco, CA1ParticipantJun 2021
Fethi KamisliTurkeyIstanbul1ParticipantJun 2021
Elevation CapitalIndiaGurgaon1LeadJun 2021
Z Nation LabIndiaMumbai1ParticipantJun 2021
Global Founders CapitalGermanyBerlin1ParticipantJun 2021
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantJun 2021

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FamPay Competitors

FamPay competitors include listed companies like PayPal and Block, and private ones like Swile, Sunbit, Union Credit and CRED.

Public and private companies comparable to FamPay
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SwileFranceParisPrivate$23M-$1B43.5x
SunbitUnited StatesLos Angeles, CAPrivate--$1.1B-
Union CreditUnited StatesSanta Rosa, CAPrivate--$113M-
CREDIndiaBangalorePrivate$290M-$4.5B15.6x
PayPalUnited StatesUnited StatesPublicly listed$33B$7.2B$45B1.4x
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x

FamPay Public Comps

FamPay is still privately-owned, but its public comps include AMTD Digital, Abaxx Technologies, Valu, Sunyard Technology, PensionBee, High Templar Tech, Currenc Group, Bakkt, Paysafe and Worldline.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AMTD Digital$59M$18M19.5x-62.9x-
Abaxx Technologies$749K($28M)600.9x136.9x(16.1x)(10.0x)
Valu$108M$22M4.1x7.0x20.2x-
Sunyard Technology$307M$10M2.2x-69.2x-
PensionBee$57M($5M)6.6x5.5x(81.4x)107.9x
High Templar Tech$6M($38M)----
Currenc Group$38M($13M)8.3x8.3x(24.1x)-
Bakkt$2.3B($98M)0.1x0.2x(2.9x)(27.3x)

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Common questions about FamPay

When was FamPay founded?FamPay was founded in 2019.
Where is FamPay headquartered?FamPay is headquartered in Bangalore, India.
Is FamPay publicly listed?No, FamPay is a private, VC-backed company.
What is FamPay's valuation?FamPay was last valued at $570M in its Series A in June 2021.
How much funding has FamPay raised?FamPay has raised $43M across 3 funding rounds.
What was FamPay's last funding round?FamPay's last funding round was a $38M Series A in June 2021, led by Elevation Capital.
Who are FamPay's investors?FamPay's investors include Y Combinator, Venture Highway, Peak XV Partners, General Catalyst, Rocketship.vc, Greenoaks, Fethi Kamisli, Elevation Capital, Z Nation Lab, Global Founders Capital and 3 others.
What is FamPay's revenue?FamPay's latest recorded revenue is $11M (June 2021).
What is FamPay's revenue multiple?FamPay's latest valuation implies a 51.8x revenue multiple ($570M valuation on $11M of revenue).
Which companies are comparable to FamPay?Companies comparable to FamPay include Swile, Sunbit, Union Credit, CRED, PayPal and Block.

See companies similar to FamPay

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