EnKash, India’s first Corporate Cards and Payments company has issued more than 2 lakh Corporate Cards across India’s corporate ecosystem, between Feb ‘20 and July ‘21.
The company launched its own Corporate Card program in early 2020 for startups, small and medium-sized enterprises.
According the company’s communique, it is witnessing accelerated growth in its transaction volumes with more than 150% MoM growth this calendar year. Presently, it is witnessing corporate card spends worth $2.5 billion.
Speaking of EnKash’s growth, Co-founder Naveen Bindal said, “ EnKash’s growth is aligned with the growth in digitization of business spends, which is currently witnessing a snowball effect worldwide with multiple unicorns emerging in this space. This global trend clubbed with Covid-19 has triggered an unprecedented demand for and dependence on Corporate Cards in India. Business spends on corporate cards is a $500 Bn opportunity in India and we have not even scratched the surface. EnKash being the first mover/vertical leader in this space has understandably benefited from the ripple effect and is gearing up to scale new heights.
With our swiftly growing portfolio of Corporate Cards and all-intuitive spend management platform, we enable operational efficiency and better cash flow management for small and medium-sized businesses, without them having to incur higher/additional costs in automation. EnKash also allows real-time updates and visibility in terms of spends, to keep the process completely transparent.”
Co-founded by cards and payments experts Hemant Vishnoi, Naveen Bindal, and Yadvendra Tyagi, EnKash is catering to all aspects of Corporate Cards by introducing effective products to solve age-old challenges faced by businesses across the board. EnKash built proprietary and market-leading corporate cards offerings in less than 2 years due its deep domain expertise which would have otherwise taken much longer for anyone else to achieve. Naveen, Hemant and Yadvendra bring to the table 20+ years of individual experience in the cards’ & payments’ industry, which is a testament to their thorough understanding and expertise in this space.
The Fintech Startup so far raised over $3 Million in a Series A round from Mayfield India and Axilor Ventures, in April 2019.