FamPay
Neobank for Indian teenagers founded in 2019 by IIT Roorkee graduates Sambhav Jain and Kush Taneja. With FamPay, minors can make UPI, P2P and card payments without needing to open a bank account, using the numberless FamCard for offline transactions, while parents credit money to their children's accounts and supervise spending.
FamPay: Funding Rounds
| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 15 Jun 2021 | Series A | $38 Mn | Elevation Capital General Catalyst Global Founders Capital Greenoaks Capital Rocketship VC Sequoia Capital India Venture Highway Y Combinator | source |
| 12 Mar 2020 | Seed | $4.7 Mn | Global Founders Capital Sequoia Capital India Venture Highway Y Combinator Amrish Rau Kevin Lin Kunal Shah Vladimir Tenev | source |
Recent Signals
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16 Jun 2025 · funding
Elevation Capital reported leading $15M secondary-heavy round in late-stage talks for FamApp source -
16 Jun 2025 · org-team
Co-founder Kush Taneja exiting FamApp via secondary sale amid reported differences with Sambhav Jain source -
22 Aug 2024 · ma-strategic
FamPay funded Tri O Tech PPI-license acquisition via Rs 55 crore unsecured loan to parent Pehe Limited source
News on FamPay
No coverage of FamPay linked yet.
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Who founded FamPay?
FamPay was founded by Sambhav Jain, Kush Taneja in 2019.
How much funding has FamPay raised?
FamPay has raised $42.7 Mn across 2 tracked funding round(s), most recently on 2021-06-15. Figures are compiled from cited public sources.
Who are the investors in FamPay?
Investors in FamPay include Elevation Capital, General Catalyst, Global Founders Capital, Greenoaks Capital, Rocketship VC, Sequoia Capital India, Venture Highway, Y Combinator.
What does FamPay do?
Neobank for Indian teenagers founded in 2019 by IIT Roorkee graduates Sambhav Jain and Kush Taneja. With FamPay, minors can make UPI, P2P and card payments without needing to open a bank account, using the numberless FamCard for offline transactions, while parents credit money to…
Where is FamPay headquartered?
FamPay is headquartered in Bengaluru, Karnataka, India.
What is FamPay's business model?
FamPay's core value proposition centers on Bank-account-free payments for minors, Financial literacy for teens via gamification, Supervised spending for parents.
How does FamPay make money?
FamPay's cited revenue streams include FamX Ultra premium subscription, ATM withdrawal fees, Video KYC fee, Autosave feature and wallet-loading charges.