Mahagram
“Can an API-first correspondent banking platform turn rural kirana stores into financial inclusion centres for unbanked Indians?”
Founded2015
HQMumbai, Maharashtra, India
IndustryFintech / Financial Inclusion
The story
Founded in 2015 as Mahagram Payments Private Limited, the company built an API-based correspondent banking and financial inclusion platform targeting rural India. Its core proposition was enabling local kirana stores and micro-entrepreneurs to act as banking access points using AEPS (Aadhaar Enabled Payment System) and domestic money transfer APIs. The company also operated under the BharatATM brand. Tracxn currently lists the company as 'deadpooled', suggesting it may have wound down or significantly reduced operations.
Last 12 months
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Product timeline
2015
Mahagram Payments Private Limited incorporated in India, focused on API-based correspondent banking solutions.· banking
2017
Registered for GST and began listing products on IndiaMART including AEPS API and Domestic Money Transfer APIs.· banking
2021
Annual revenue reported at ₹12.8 Cr as of March 31, 2021, operating BharatATM brand alongside Mahagram.· banking
2022
Employee count at 43 as of June 30, 2022; company status remains active per ROC Mumbai filings.· banking
The stack
Accounting gap: none