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EnKash

Can a single India-licensed platform become the financial OS for Indian SMBs by owning payables, receivables, cards, and embedded wallet infrastructure?

Founded2018
HQMumbai, India
FoundersHemant Vishnoi, Naveen Bindal, Yadvendra Tyagi
Total raised$23M
IndustryHorizontal SaaS / Spend Management
The story

Founded in 2018 as a corporate-card-based payables platform for Indian businesses, EnKash evolved into a full-stack spend management platform spanning payables, receivables, expenses, and corporate cards. Securing RBI Payment Aggregator and Prepaid Payment Instrument licenses transformed it from a third-party software layer into a regulated payments operator, enabling it to launch its own payment gateway and co-branded wallet-as-a-service offering.

Last 12 months
Product timeline
0
Expanded into all-in-one CFO platform covering payables, receivables, expense management, and corporate cards.· pivot
0
Received RBI final authorizations for Payment Aggregator (PA-PG) and Prepaid Payment Instrument (PPI) licenses; launched SMB-focused payment gateway.· banking
2018
EnKash founded by fintech veterans Hemant Vishnoi, Naveen Bindal, and Yadvendra Tyagi, starting with smart payable offering via corporate cards.· pivot
Regulated entities
Payment Aggregator (PA-PG)
India (RBI)
Nehat Tech Solutions Pvt. Ltd.
Prepaid Payment Instrument (PPI)
India (RBI)
Nehat Tech Solutions Pvt. Ltd.
Bharat Bill Payment Operating Unit (BBPOU)
India (RBI)
Nehat Tech Solutions Pvt. Ltd.
The stack
Payments / PSP
EnKash Payment Gateway (self-operated)
Banking / BaaS
RBI-licensed partner banks (sponsor model, unnamed)
Card issuing
RBI-licensed partner banks (unnamed); Visa & Mastercard networks; NPCI
Lending
Affordability Suite (EMIs, BNPL & credit options at checkout)
Open banking
EnKash Connected Banking (in-house, direct bank integrations)
Accounting
Tally ERPSAPMicrosoft Dynamics (implied via ERP connectors)
Accounting gap: minor