Zenpay Solutions, a fintech startup, has raised an undisclosed amount of funding from a group of investors led by The StartupLab and AngelBay.

Investors including Pavitra Walwekar and Naresh Vigh of Kudos Finance, Ashish Mittal (Founder of Smart Kitchen), Nitin Agarwal (Founder of B21), Anant Aggarwal (Managing Director Viney Equity Market) & Raghav Singhal (Director Om Logistics Ltd.) also participated in the funding round.

As per the fintech startup, the freshly raised funds will be used for expanding the technology and sales team and building services to serve and support its rapidly expanding customer and corporate base.

Zenpay Solutions | Making The Payments Process Simple And Efficient

Founded in 2018 by Ankit Bhargava, Zenpay Solutions offers hassle-free digital payment solutions to employers and employees, making the payment process simple and efficient for all its users.

Supporting over 150,000 blue-collar workers, the fintech startup has processed over INR 600 cr in transaction volume.

Speaking on the development, Ankit Bhargava said,

“Zenpay Solutions is driving the development of a much richer, broader financial technology ecosystem that goes well beyond banking to include Rural and Blue Collared Workforce. Our products will create the much-needed affordability for blue-collar workers and allow us to build digital banking solutions for individuals who may not have had access otherwise.”

Zenpay had earlier raised funds from their friends and family in May 2020.

The fintech startup has benefitted over 150,000 customers across India by increasing its reach and targeting customers, especially in the semi-rural and rural sectors who do not have access to banking services. 

Zenpay Solutions aims to expand its reach by creating 2,00,000 new customers across India over the next six months and plans to create a customer base of 1 million customers by 2022.

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