Paymate
“Can a supply chain B2B payments platform become the embedded financial OS for enterprise and SME buyers and sellers across emerging and high-growth markets?”
Founded2006
HQMumbai, Maharashtra, India
FoundersVishvanathan Subramanian, Ajay Adiseshann, Anupam Mukerji
Total raised$58.7M
Latest roundSeries E
IndustryFintech / SMB banking
The story
Founded in 2006 as a B2B payments platform in India focused on digitising supply chain payments using commercial credit cards. Evolved into a full-stack supply chain finance platform offering payments automation, procure-to-pay integration, invoice discounting, and a credit engine. Expanded geographically into the UAE (paymate.ae) and Australia (global.paymate.com), operating in over seven countries. The embedded finance angle is central to the UAE proposition — offering white-labelled B2B payment and commercial card capabilities to platforms via APIs.
Product timeline
2006
Founded as a B2B payments platform in India.· pivot
2018
Expanded into SMB lending by collaborating with local banks and NBFCs to offer small business finance products.· lending
2021
Recognised by RedSeer as a leading B2B payments and services provider in India with supply chain payment automation.· banking
2024
Launched BBPS B2B platform in partnership with NPCI Bharat BillPay to digitise enterprise B2B payments via the Bharat Bill Payment System.· banking
Regulated entities
1
regulatory licence held by Paymate
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Paymate’s embedded-finance stack
Payments / PSP
Lending
in the full report
Accounting gap: minor
3 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.