Noida: Noida-based YPay has raised an undisclosed sum from Venture Catalysts. The company, set up by Navneet Gupta, operates a digital payments platform for children and teenagers in Tier-III locations and beyond.
YPay says it helps its target audience – including students – gain financial literacy as well as manage their personal spending. Through its app, parents can monitor money management in a controlled manner.
The fintech firm says it also operates a card product – SmartCard – that lets clients adopt and manage digital payments for purchases of books, stationery, school fees, and canteen supplies.
In a statement, Gupta said the firm will use the capital for enhancing technological infrastructure and expanding presence and partnerships.