Company Intelligence Profile
Open Financial Technologies Private Limited
Bengaluru-based fintech SaaS platform providing AI-native corporate/business banking (payments, payables/receivables, GST compliance, reconciliation) for SMEs and enterprises across 40+ Indian banks.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
Company Identity
Confirmed| Registered name | Open Financial Technologies Private Limited |
|---|---|
| CIN | U67200KA2017PTC166507 |
| PAN | AACCO5024H (Tofler — single source, partial) |
| Status | Active |
| Listing | Not listed (unlisted private company; DPIIT-recognised startup; media-reported "unicorn" i.e. private valuation >$1B, not a stock-exchange listing) |
| Incorporated | 19 May 2017 (Tofler, TheCompanyCheck — confirmed, 2 sources agree) |
| ROC | RoC Bengaluru/Karnataka (confirmed, 2 sources agree) |
| Sector (NIC) | Internet/Online Financial Services; NIC activity code J6 "Computer programming, consultancy and related activities" (TheCompanyCheck) |
| Registered address | 3rd Floor, Tower 2, RGA Tech Park, 18 Sarjapur Road, Carmelaram, Hadosiddapura, Doddakannelli, Bengaluru, Karnataka, India – 560035 (confirmed, 2 sources agree) |
| Authorized capital | ₹35.0 Lakh (confirmed, Tofler + TheCompanyCheck agree) |
| Paid-up capital | ₹28.72 Lakh, issued & subscribed same (confirmed, Tofler + TheCompanyCheck agree) |
Business Overview
Confirmed- Open (Open Financial Technologies Pvt Ltd) is a Bengaluru-based fintech/neobanking platform for SMEs and enterprises, providing SaaS-based business banking: payments, payables/receivables, treasury, GST-compliant invoicing/accounting, reconciliation, and multi-bank connected-banking across 40+ Indian banks from a single dashboard
- Company positions itself as "AI-native Corporate Internet Banking for modern finance teams," reportedly processing $40B+ in annualized B2B payment volume and serving 50,000+ finance teams (source: open.money official site — self-reported, unverified by third party)
- Founded 2017
- widely reported as India's first fintech SaaS unicorn (~May 2022, Series D, per DuckDuckGo-cached press snippets — single-source, not independently corroborated in this pass)
Directors & KMP
Partial / conflictingBoard/KMP (names + DIN where found; appointment dates per TheCompanyCheck, DINs per Tofler — cross-checked, confirmed):
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Anish Achuthan | 02853403 | Director/Co-founder, DIN 02853403, appointed 27 Aug 2018 | 27 Aug 2018 |
| Ajeesh Achuthan | 07948982 | Director/Co-founder, DIN 07948982, appointed 17 Oct 2017 | 17 Oct 2017 |
| Mabel Annie Chacko | 02853367 | Director/Co-founder, DIN 02853367, appointed 22 Sep 2021 | 22 Sep 2021 |
| Deena Jacob | 06552579 | CFO/Co-founder, DIN 06552579, appointed 15 May 2018 listed as CFO by TheCompanyCheck, as Director/shareholder by Tofler | 15 May 2018 |
| Bhaskar Majumdar | 02131404 | Nominee Director, DIN 02131404, appointed 20 Apr 2019 | 20 Apr 2019 |
| Mohit Naresh Bhandari | 02528942 | Nominee Director, DIN 02528942, appointed 04 Apr 2022 | 04 Apr 2022 |
Financials
Partial / conflictingFY2025 (year ended 31 Mar 2025), standalone, per TheCompanyCheck (single source — partial, not cross-verified):
- Revenue: ₹58.14 Cr (+26.00% YoY)
- EBITDA: not obtained (paywalled)
- PAT/Net profit: not obtained (paywalled)
- Net worth / borrowings (balance-sheet figures): not obtained (paywalled)
- Employees: 373 (as of Jan 2025, TheCompanyCheck)
Note: an unrelated aggregator ("CompWorth," surfaced via search snippet) claimed "$182.7M revenue, $1M valuation, $141M total funding" for this entity — internally inconsistent (a "unicorn" cannot have a $1M valuation) and contradicts the ₹58.14 Cr revenue figure above; flagged as unreliable and excluded from the confirmed figures.
Funding History
Partial / conflictingPartial / single-source (DuckDuckGo-cached press snippet, source publication name not resolved in this pass — treat as unconfirmed pending a named primary article):
- Series D: ~$50 million, led by IIFL Finance, with participation from existing investors Tiger Global, Temasek, and 3one4 Capital; round reported to value the company at over $1 billion (unicorn status), dated on/around 2 May 2022.
- Aggregate reported as "24 investors across 8 funding rounds," total funding figure of ~$141M appeared in one unreliable aggregator snippet and is NOT treated as confirmed (see financials note on data-quality concerns with that source).
- Round-by-round history, dates, and exact amounts for earlier rounds (seed/Series A-C) not obtained this pass; Tracxn page required login and could not be fetched.
Charges & Borrowings
Partial / conflictingPartial, single source (TheCompanyCheck):
| Open (unsatisfied) charges | None |
|---|---|
| Satisfied charges | ₹46.04 Cr total, lenders — HDFC Bank (₹2.04 Cr) and others (₹44 Cr, lender names not itemized in accessible content) |
Not cross-verified against a second source in this pass.
Legal / Litigation
Partial / conflictingConfirmed via indiankanoon.org (Karnataka High Court matters where Open Financial Technologies Pvt Ltd is a named party): 1. Nanosecond Technologies Private Limited vs Open Financial Technologies Private Limited — Karnataka High Court, order dated 7 April 2025, Coram: Justice S.R. Krishna Kumar. 2. Mr. Sandipan Mitra vs Open Financial Technologies Private Limited — Karnataka High Court, dated 6 January 2023, Bench: G. Narendar and P.N. Desai JJ. Case subject matter/outcome not extracted in this pass (only case captions/metadata retrieved) — treat as index-level confirmation only, not a substantive legal-risk assessment.
Competitors
ConfirmedConfirmed via search aggregation (named peers in Indian neobanking / SME business-banking):
- RazorpayX — closest direct competitor in business/enterprise neobanking (large scale, backed by Razorpay's payments distribution)
- Jupiter — consumer-focused neobank, large user base, frequently cited market leader
- Fi Money — consumer-focused neobank, comparable scale to Jupiter
- Niyo / Niyo Global — consumer + cross-border neobank, established player
- Kotak 811 — bank-run digital banking product (Kotak Mahindra Bank), much larger scale (backed by a licensed bank)
- Smaller/niche mentions: Freo, ZikZuk, InstantPay (early-stage/smaller scale)
Note: none of these neobanks (including Open) hold an independent banking license — all operate as technology layers atop partner banks.
Frequently Asked Questions
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