Airpay: Founders, Funding, Business Model And Competitors

217

About Airpay

“Your one stop to online and face-to-face payment solutions.”

Airpay, a unique payment platform upholding global e-commerce & retail and providing enterprise software as a service (SaaS) solution to its clients. Encompassing payment solution provider, operating towards making monetary transactions easier, simpler and quicker. Airpay helps businesses the best possible experience beyond cash to merchants and their customers.

In simpler words, Airpay Payment is a startup FinTech runs omnichannel payments platform in which from firms can make and receive payments across the channel and can operate from a desktop, mobile and even offline. It facilitates payments with financial instruments like credit and debit cards, mobile wallets and indeed online banking allowing clients to receive from customers and sent to vendors.

Foundation & Founders

Airpay founded in 2012 and based in Mumbai, India is a financial service private organization co-founded by the trio Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande, who all worked for Hungama Digital Media Entertainment company, an online music provider.

Amit Kapoor

Amith Kapoor is an MBA graduate from INSEAD. Mr. Kapoor initially used to work as Tour Executive for approximately 6 years and in 2006 served as an Asst. Vice President for TravelGuru for 3 years. He worked as AGM at Hungama Digital Media Entertainment Pvt Ltd

Kunal Jhunjhunwala

Kunal Jhunjhunwala also MBA graduate from TRIUM Global Executive MBA. Mr. Jhunjhunwala worked as a Business Analyst and as well in Hungama Digital Media Entertainment Pvt Ltd. He is now co-founded the company with the other two members and is a Principal Founder to the company. Kunal also co-founded Digitalhathi, a media production company.

Rohan Deshpande

Rohan Deshpande, a B.E, Electronics & Telecommunications and MBA graduate. Mr.Deshpande is also an Associate Director- Technology at Hungama and Hungama Mobile.

Airpay Features

  • Best-in-class RMS system integration
  • Single window transaction settlements
  • Dynamic payment gateway switching
  • MIS and Transaction functionality
  • Email and Customer support (24/7, Telephonic support)
  • PCIDSS compliant payment processing
  • Online and Offline transactions in a single process
  • Built-in loyalty management Engine
  • Interface Switching and load balancing capabilities.
  • Net banking and mobile Point-Of-Sale systems
  • Multi-currency acceptance

Funding

Kalaari Capital is the lead investor to B2B company Airpay funding $3.6M to the omnichannel startup company and Rakesh Jhunjhunwala and Rajesh Jhunjhunwala as the major seed investor.

“The sheer complexity of instruments and channels for payments in India demands innovative one-stop solutions such as those offered by Airpay,” Kalaari Capital managing director Rajesh Raju said in a statement.

Business Model

Airpay runs in two ways

  • Business-to-Business(B2B). Processing outbound payments to pay vendors.
  • Consumer-to-Business(C2B). Accepting inbound payments from accept inbound payments from consumers.

Providing free mobile dongle and no hidden charges and setup cost to the users. It is a dynamic payment gateway to the users offering a hassle-free transaction provided with the enhanced resources with an integrated payment solution to the large enterprises.

Competitors

  • CCAvenue
  • BillDesk
  • E-Billing Solutions
  • TechProcess Payment Services
  • PayUMoney
  • SnapScan
  • Paytm
  • Oxigen
  • Momoe Technologies
  • Pay Point

Snippets

Airpay estimated revenue is of $25.3 M. Company plans to invest the new capital in technology development and building more substantial sales to increase clients which provides companies in education, banking, retail and hospitality as said by Amit Kapoor, CEO of Airpay.