Hyderabad-based Payswiff in talks to allot 72% stake to Cholamandalam Investments for Rs. 450 cr. - Start-Up Hyderabad Payswiff allots a 72.12% stake to Cholamandalam
Loading Startup Hyderabad

Hyderabad-based Payswiff in talks to allot 72% stake to Cholamandalam Investments for Rs. 450 cr.

 1 year ago    

Hyderabad-based Payswiff allots a 72.12% stake to Cholamandalam Investments. According to a regulatory filing, Cholamandalam Investments has signed a Share-purchase agreement and Shareholders’ agreement on Jan 17th with Payswiff. They plan to acquire a 72.12% stake in the fintech payment solutions provider.

Payswiff allots 72.12% equity shares to Cholamandalam Investments


Hyderabad-based startup, Payswiff is an omnichannel payment transaction solution provider, that enables online payment gateway services for e-commerce businesses. Providing e-commerce solutions, Payswiff allows business owners to accept payments from customers in-store, online, on the go using mPOS & POS solutions, or cash on delivery.

Payswiff (previously ‘Paynear’) was founded in 2013 by Prabhu Ram, Priti Shah, Anil Bharadwaj, Ravi, Krishna, and Maulik Shahof. Aiming to build a seamless experience for the merchant, Payswiff intends to make commercial transactions easier, simpler, and safer. They connect commerce and banking across all channels efficiently, conveniently, and securely.

READ MORE: Hyderabad based Payswiff taking the digital world by a storm

Having partnered with PhonePe, Mastercard, Visa, and RuPay, among others, Payswiff deployed 3 lakh devices with over 7 million transactions monthly. Payswiff has a significant reach across India and 7 locations globally and has over 45 partner banks for processing transactions. Over the years, Payswiff has grown to a strong team of over 330 employees and continues to grow. Expanding from their flagship product, Payswiff ONE, their latest offering is PayswiffNXT.

ALSO READ: Mastercard and Payswiff Partner to Accelerate Acceptance of Digital Payments in Tier 2 and 3 Cities

Payswiff allots 72.12% equity shares to Cholamandalam Investments

Latest Investment

Cholamandalam Investment and Finance Company (CIFC) is a Non-banking Financial Company under the leading business conglomerate, Murugappa Group. On Jan 17th, CIFC announced its’ plans to acquire a 72.12% equity stake in Payswiff for INR 450 crores. This investment may take place in one or more tranches at a price of Rs. 1,622.66 per share on a fully diluted basis.

Clocking a turnover of INR 21,058.34 Lakh in 2020-21, which is a 218.34% increase over the same figure in 2019-20. In a statement, CIFC officials said, “The proposed acquisition is in line with the long-term strategy of the company to explore and expand in the entire lending ecosystem model particularly in the SME segment. Therefore, Payswiff being a part of the technology ecosystem in the SME segment will add value to the existing Chola ecosystem.”



Rituka M

I am an avid reader and have a passion for writing. Being a law student coming from a commerce background, I have a flair for learning about the dynamic legal and business fraternity, as well as becoming an entrepreneur myself. Innovation, creativity, and hard work are the sole drivers to growth and is my mantra for life.


  • Saritha Keshamoni

    Saritha Keshamoni

  • Rituka M

    Rituka M

  • Ramya Sayaboni

    Ramya Sayaboni

  • Bhavitaavya Dharanikota

    Bhavitaavya Dharanikota

  • Sruthi Malla

    Sruthi Malla

  • Tata Teja

    Tata Teja

  • Nethrikaa Greeshma

    Nethrikaa Greeshma

  • Ruchika Agarwal

    Ruchika Agarwal

  • Neeha Jayaram

    Neeha Jayaram

  • Avatar

    Sameeksha Bansal

  • Rahul Das

    Rahul Das

  • Shravani Maddirala

    Shravani Maddirala

  • Saloni Anand

    Saloni Anand

  • Avatar

    Madhureema RoyMoulik

  • Srinivas Aki

    Srinivas Aki

  • Dhivya


  • Sravya Gowrisetty

    Sravya Gowrisetty

  • Soumalya Chakraborty

    Soumalya Chakraborty

  • Monika Guwalani

    Monika Guwalani

  • Ramesh Loganathan

    Ramesh Loganathan

  • Nischala Agnihotri

    Nischala Agnihotri

  • Varun Rastogi

    Varun Rastogi

  • Harshita Goel

    Harshita Goel

  • Nikita Kiran

    Nikita Kiran

  • Avatar

    Ankur Mehta

  • Neha Mohsin

    Neha Mohsin

  • Maddy Anand

    Maddy Anand

  • Chandra Mouli Koduri

    Chandra Mouli Koduri

  • Ayyappa Nagubandi

    Ayyappa Nagubandi

  • Divya Jyothi

    Divya Jyothi

  • Ayushi Pandey

    Ayushi Pandey

  • Saptarshi Roy Chaudhury

    Saptarshi Roy Chaudhury

  • Amita Sood

    Amita Sood

  • Avatar

    Surya Vallae

  • Gunajit Haloi

    Gunajit Haloi

  • Avatar

    Manoj Surya

  • Ravi Vaka

    Ravi Vaka

  • Sreekar Reddy

    Sreekar Reddy

  • Priyanka Mechineni

    Priyanka Mechineni

  • Ambika Asta

    Ambika Asta

  • Avatar

    Anish Tadimarri

  • Vana Korrapati

    Vana Korrapati

  • Avatar

    Vineel Reddy Pindi

  • GR Reddy

    GR Reddy

  • Vinita Surana

    Vinita Surana

image title here

Some title