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
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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
3
regulatory licences held by EnKash
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in EnKash’s embedded-finance stack
Payments / PSP
EnKash Payment Gateway (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Open banking
in the full report
Accounting
in the full report
Accounting gap: minor
7 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.