← Embedded Finance Index 2026

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.

FamPay — frequently asked

Who is FamPay's payment processor?

FamPay processes payments through UPI (self-operated) and FamCard (self-operated). Disclosed money-movement rails: UPI.

Which KYC provider does FamPay use?

FamPay uses Decentro for KYC and identity verification.

What is FamPay's embedded finance stack?

The Embedded Finance Index 2026 maps 3 layers in FamPay's stack: Payments / PSP (UPI (self-operated) and FamCard (self-operated)); Money movement (UPI); KYC (Decentro).

Who founded FamPay?

FamPay was founded by Sambhav Jain and Kush Taneja and is founded in 2019, headquartered in Bengaluru, Karnataka, India.

How much funding has FamPay raised?

FamPay has raised $43.9M in total (latest round: Series A, 2021).

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