Vegapay offers a lending tech stack and a card management platform that helps banks, NBFCs and fintechs launch and manage configurable card and credit-based products quickly. Its platform supports credit, debit, prepaid, and forex cards as well as credit-on-UPI-based solutions. The company also provides Loan Origination Systems (LOS), Co-lended Loan Management Systems (Co-LMS), and Loan Collection Systems (LCS). Vegapay targets speed, scale, and innovation to help clients deliver financial services. Following its seed raise, the company plans to hire developers, designers, and engineers and to enhance its product suite. It is also focusing on product development and regulatory compliance updates. Vegapay is building a tech stack and card management system that enables regulated entities as well as fintechs to issue cards and lending products in India. The company is developing a microservice-driven issuance stack intended to let issuers integrate and launch lending products tailored to different consumer cohorts. Co-founded in October 2022 by Gaurav Mittal (Ex-Zeta), Himanshu Agrawal (Ex-Amazon), Puneet Sharma (Ex-BharatPe) and Abhinav Garg (Ex-Podeum), Vegapay is based in Gurgaon. The startup raised $1.1M in pre-seed funding to support product and technology development. Vegapay intends to use the funds to further develop its technology to make frontline adoption easier for both institutions and non-institutions. The product roadmap is focused on increasing card and lending penetration across consumer segments in India.

Total raised

$7M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2024