FamPay
“Can a teen-first fintech in India convert UPI-native minors into a lifelong consumer banking relationship?”
Founded2019
HQBengaluru, Karnataka, India
FoundersSambhav Jain, Kush Taneja
Total raised$43.9M
Latest roundSeries A, 2021
IndustryFintech / Consumer banking
The story
Founded in 2019 as FamPay — a payments app for Indian teenagers offering a prepaid FamCard and UPI ID with parental supervision. Raised a large $38M Series A in 2021 on the neobank-for-teens thesis. Has since rebranded to 'Fam' (FamApp by Trio) and broadened its positioning to a lifestyle brand for anyone above 11, targeting 250M+ young users in India with UPI, cards, and a Spending Account product (FamX).
Last 12 months
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Product timeline
2019
Founded by IIT Roorkee alumni Sambhav Jain and Kush Taneja to build India's first teen-focused payments app· pivot
2021
Raised $38M Series A led by Elevation Capital to build India's first neobank for teenagers· banking
2021
Launched FamCard prepaid card and UPI for teens with parental oversight· card
2024
Rebranded from FamPay to Fam / FamApp by Trio, launched FamX Spending Account· pivot
The stack
3 layers disclosed in FamPay’s embedded-finance stack
Payments / PSP
UPI (self-operated)FamCard (self-operated)
Money movement
in the full report
KYC
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.