FamPay

FamPay

Digital payments platform for youth

About FamPay

Simplify's Rating
Why FamPay is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

Series A

Total Funding

$42.9M

Headquarters

Bengaluru, India

Founded

2019

Overview

Fam is a fintech platform designed to enhance financial inclusion for young people, particularly those aged 11 and older. It allows users to make quick payments using the Unified Payments Interface (UPI), completing transactions in under two seconds. Beyond just payments, Fam helps users track and manage their expenses, ensuring their bank statements remain organized. The platform offers a customized UPI and card specifically for teenagers, promoting early financial literacy. Additionally, through the FamX by Trio program, users can earn cashback and FamCoins on their purchases, participate in giveaways, and enjoy a numberless card for enhanced security. Fam's revenue primarily comes from transaction fees and membership fees for its FamX program. The goal of Fam is to provide a comprehensive financial platform that empowers the younger generation with tools for effective money management.

YC Company
Simplify Jobs

Simplify's Take

What believers are saying

  • Growing interest in financial literacy boosts demand for FamPay's educational tools.
  • UPI-based payment systems' rise supports FamPay's fast and secure transactions.
  • Expansion into foreign tourist market with Namaspay app opens new revenue streams.

What critics are saying

  • Increased competition from fintech startups like Fyp challenges FamPay's market position.
  • Namaspay app may struggle with adoption due to existing competition.
  • Competitors' numberless cards could dilute FamPay's unique selling proposition.

What makes FamPay unique

  • FamPay offers India's first numberless payments card for enhanced security.
  • The platform provides a customized UPI and card for teenagers, promoting financial literacy.
  • FamPay's FamX by Trio program offers cashback and rewards, appealing to young users.

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Funding

Total Funding

$42.9M

Above

Industry Average

Funded Over

2 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$30M
Kalshi
$38M
FamPay

Benefits

Get all the resources you need to thrive

Create your own flexible work schedule

Top notch gadgets for top notch people

ESOPS for all, coz we like to share

Health insurance, for you & your loved ones

Additional allowance, no questions asked

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
BizBracket
Sep 3rd, 2024
Fampay Launches Namaspay App for Foreign Tourists in India

Bengaluru-based fintech startup Fampay has introduced Namaspay, a new payment app designed specifically for foreign tourists visiting India.

Infomance
Sep 2nd, 2024
Fampay Introduces Namaspay: UPI App For Foreigners In India

Fampay introduces Namaspay: UPI app for foreigners in India.

The Q&A
Jan 22nd, 2024
FamPay launches India's 1st numberless payments card; Making transactions Easier and Secure

FamPay launches India's 1st numberless payments card; making transactions easier and secure.

LoanBuy
Jul 31st, 2022
FamPay launched Visa Cards on May 1st 21'.

In just the first few weeks after FamPay launched their virtual Visa Cards in May 2021, more than 2,000 people had already signed up.

YourStory
Jun 8th, 2022
From Smallcase And Razorpay To Fampay And Uni Cards: Here’S Who’S Speaking At Paysa 2022, And All That'S Lined Up

YourStory’s fintech/BFSI event Paysa 2022, slated for June 10 and 11, will bring together some of the biggest names in the financial industry onto an action-packed stage.

Recently Posted Jobs

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Legal Manager

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FamPay is Hiring for 7 Jobs on Simplify!

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See All Jobs

FamPay is Hiring for 7 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update FamPay's jobs every few hours, so check again soon! Browse all jobs →

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Discover companies similar to FamPay

Fi Money

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