- PayMate India, a digital business-to-business (B2B) payments company, achieved a Total Payment Volume (TPV) of Rs 84,519 crore for the financial year ending March 31, 2023. This represents a robust 21% year-on-year growth compared to FY22 and a significant 282% increase compared to TPV in FY21.
- The group’s revenue from operations reached Rs 1,351 crore, reflecting a substantial 12% year-on-year increase from FY22.
- PayMate witnessed an 84.53% surge in user adoption among customers and users compared to the previous financial year (FY22), pushing the total count of customers and the user base beyond the 390,000 milestone.
- The company saw an 8X increase in gross profit, rising from Rs 1.41 crore in FY22 to Rs 11.15 crore in FY23.
- PayMate plans to expand its product offering by introducing services like commercial card program management and cross-border payments. The company is committed to maintaining its growth trend and expanding its reach among small, medium, and large enterprises across India.