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About Us

RapiPay is driven by a vision to grow and lead digital banking services in the country with its Neo Banking super App NYE. Whether you’re a consumer, a retailer, or an SME, you can bank upon us. For consumers, we offer a wide suite of Neo banking services, and for businesses, we have assisted payment services, POS solutions, and business loans.

Our Values

Integrity

We endorse honesty in all our actions.

Trust

We honour the promises made to you.

Customer First

We place our customers at the heart of what we do.

Transparency

We take pride in communicating our beliefs and decisions with complete openness.

NYE - Beyond Banking

Pronounced NYE and sounds like NYE

  • Hi
  • Sky
  • Tie
  • Fly

NYE means One. We believe our customers don’t need multiple Apps for their banking and financial requirements. They need just one app and that is NYE. It’s the coolest banking experience that will give you more control over your money, savings and spends. Start your NYE Banking now and experience the awesomeness.

Our Journey

2017
  • RapiPay received PPI wallet license from RBI
2018
  • RapiPay Mobile Wallet launched in adherence to RBI Guidelines.
  • RapiPay Service started in Delhi NCR, Mumbai and Bengaluru.
2019
  • Started PAN India operations of Direct Business Outlets (DBOs)
2020
  • Micro ATM launched. Became 3rd largest player in this segment
  • Raised $9M in pre-series A funding round
  • DBOs network grew to 100k
2021
  • DBOs network grew to 300k
2022
  • Raised $15mn in Feb 2022

Our Team

Mr. Sumit Kumar Narvar

Founder, RapiPay

Mr. Narvar is a first-generation entrepreneur and a well recognized personality amongst the business leadership fraternity, who has mentored and built multi billion-dollar businesses in Fintech and Financial services space.

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Under The Guidance And Mentorship of a Visionary Entrepreneur

Mr. Sumit Kumar Narvar

Founder and Promoter, RapiPay

Mr. Narvar is a first-generation entrepreneur and a well recognized personality amongst the business leadership fraternity, who has mentored and built multi billion-dollar businesses in Fintech and Financial services space.

CIC is the promoter entity of Capital India Finance Limited (a BSE listed systematically important Non-Banking Finance Company), Capital India Home Loans Ltd. (provides housing finance in affordable segment), RemitX (a tech-enabled cross-border remittance player) and RapiPay (India’s largest Neo Bank). He is also the Chairman of Trident Corp., which is a prominent real estate developer in the Country. Mr. Narvar has the unmatched ability to identify, nurture and grow businesses.

He not only provides mentorship to the management team in building successful businesses but also proactively guides and supports the management team in critical areas of businesses.

He believes in empowering the youth of the country and in the power of digital technologies to transform nascent business models. He has backed various first-generation entrepreneurs in their journey to success and in fulfilling their dreams.

Board of Directors

CHAIRMAN & INDEPENDENT DIRECTOR

Vinod Somani

Vinod Somani is a fellow member of the Institute of Chartered Accountants of India.

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INDEPENDENT DIRECTOR

Yogendra Pal Singh

 Yogendra Pal Singh, Independent Director, had joined the Indian Police Service

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NON – EXECUTIVE DIRECTOR

Keshav Porwal

Keshav Porwal has over two decades of experience in the finance

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CO – FOUNDER AND MANAGING DIRECTOR

Yogendra Kashyap

A technocrat with around 30+ years of experience in technology

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NON – EXECUTIVE DIRECTOR

Deepak Vaswan

A preeminent strategist, Deepak has over 10 years of combined extensive experience

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Leadership Team

WHOLETIME DIRECTOR & CHIEF EXECUTIVE OFFICER

Nipun Jain

Nipun Jain has over 25 years of experience in Retail Banking. Prior to joining RapiPay,

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CEO – DIGITAL LENDING

Sharad Agarwal

Sharad Agarwal is responsible for building RapiPay’s digital lending platform.

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TECHNOLOGY HEAD – DIGITAL LENDING

Srinivas Nidumolu

Srinivas is responsible for product vision, design and development of RapiPay’s digital lending arm.

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PRODUCT HEAD – INNOVATION

Pankhuri Narwal

Pankhuri is designing and modelling solutions for development innovation and user experience

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TECHNOLOGY HEAD, NEO BANKING

Sumit Adlakha

Sumit Adlakha is responsible for the technology vision, design, and development of RapiPay’s Neo Banking platform.

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Sumit Adlakha

TECHNOLOGY HEAD, NEO BANKING

Mr. Sumit Adlakha is responsible for technology vision, design and development of RapiPay’s Neo Banking platform. With 17+ years of experience, he has built scalable, secure, end-to-end systems for B2B. B2C and C2C. He has led technology teams on building solutions for varied tech-stacks in startups, SMEs and large enterprises.

He holds an MS from State University of New York, and has domain expertise in BFSI domain, travel eCommerce, events/ collaboration technology and healthcare. He has built customer-centric platform products in companies in the US and India. His previous organizations include Credit Suisse, Expedia, Cvent, and healthcare startup Credihealth.

Pankhuri Narwal

PRODUCT HEAD - INNOVATION

Ms. Pankhuri Narwal is our designing and modelling solutions head for development innovation and user experience along with similar initiative variants. She is working to deliver performance with innovation development groups by providing valuable insights as well as design outputs.

Along with designing and developing new development concepts as well as strategies, she is working to ensure implementation of decisions to translate strategies from the drawing board to on-ground execution. She leads and nurtures different high-performance and cross-functional teams to deliver results.

Srinivas Nidumolu

TECHNOLOGY HEAD - DIGITAL LENDING

Mr. Srinivas Nidumolu is responsible for product vision, design and development of RapiPay’s digital lending arm. With 20+ years of expertise, he has built high scale end-to-end Enterprise systems and bootstrapping technology teams for start-ups.

An MS (Applied Computer Science) from Illinois State University, he has domain expertise in BFSI segment and e-commerce domains and has worked with product companies across US and India. His previous organizations include CASHe, Myntra and Bank of America

Deepak Vaswan

NON - EXECUTIVE DIRECTOR

A preeminent strategist, Mr. Deepak has over 10 years of combined extensive experience in technology, financial services, transactions across sectors, diligence, post-merger integrations and change management. Previously, he has served organizations like TCS, Maruti Suzuki and KPMG, in various roles.

An MBA from Management Development Institute, Gurugram and engineering graduate from Guru Gobind Singh Indraprastha University.

Sharad Agarwal

CEO - DIGITAL LENDING

Mr. Sharad Agarwal is responsible for building RapiPay’s digital lending platform. An astute finance professional, he brings over two decades of multi-faceted experience in setting up Fintech start-ups, business development, digital technology, operations, customer services, finance, program management across Banking, Financial services and Insurance sector.

He has built high performing functions from start-up stage and led them to achieve larger portfolios, set-up business, and managed end-to-end operating infrastructure of BFSI organisations including people, process and technology. Mr. Sharad, an MFC and an MBA, has previously worked with organizations like Fintree Finance Pvt Ltd, Max New York Life Insurance and Citi Financial.

Nipun Jain

WHOLETIME DIRECTOR & CHIEF EXECUTIVE OFFICER

Nipun Jain has over 25 years of experience in Retail Banking. Prior to joining RapiPay, he was the SME head of Yes Bank and has helped in setting up and scaling up the Retail Asset Business for the Bank with focus on profitability and portfolio quality.

Nipun, an MBA Finance & Marketing, has also held senior positions at ICICI Bank. He has managed both Assets and Liabilities at ICICI Bank. He was the Business Head for Commercial Vehicles and Construction Equipment. And as Zonal Head of Retail Banking Group, he has managed 180 branches with a team of 2500 Employees.

Yogendra Kashyap

CO - FOUNDER AND MANAGING DIRECTOR

A technocrat with around 30+ years of experience in technology and in nurturing new businesses. Mr. Yogendra Kashyap has brought BFSI (Banking Financial Services in India) services to over 1 million touch points throughout India. He pioneered in a number of Govt. of India’s technology enabled initiatives before venturing into the Digital Wallet and Money Remittance businesses.

A crusader for bringing about e-governance in government organisations, he has worked relentlessly towards devising new solutions and technologies in the ITES sector across the length and breadth of the country, while impacting the last mile. He has vast experience in VLSI (very large-scale integration) circuits designing and implementation thereof and has identified the product hardware for RapiPay. He has been involved in implementation and deployment of various power supplies and circuits projects, that are primarily effective to decide upon devices used for RapiPay’s mATM and mPOS products.

Mr. Kashyap possesses great understanding of India’s demographics and distribution systems. As part of designing, collection and issuance of electoral rolls and electoral identity cards, he could reach out to 80 million people of the country in various districts primarily in the North and West regions of India. He has spearheaded many successful projects like usage of smart cards in Government Transport, impacting people in 70 Districts, managing and improving the public distribution system in 5 States, implementation of Coastal ID cards in 13 states from West Bengal to Gujarat for the Ministry of Home Affairs, Government of India. With such projects, he has honed his skills and gained deeper understanding of Indian demographics and issues pertaining to the lowest strata of society. His experience has been the bedrock that has enabled RapiPay’s success and creation of innovative new products that reach the last mile through RapiPay’s Direct Business Outlets (DBOs).

Keshav Porwal

NON - EXECUTIVE DIRECTOR

Mr. Keshav Porwal has over two decades of experience in the finance and real estate sector. He has successfully closed large, complex real estate transactions involving leading developers across the country as well as PE investments. He has worked across all aspects of real estate financing ranging from risk management to new product launches.

Keshav has also been involved in the restructuring and re-engineering of medium-sized enterprises in the auto and hospitality sectors. Keshav is a Chartered Accountant from the prestigious ICAI and has previously worked with Kotak Mahindra Bank, ICICI Bank, ABN AMRO Bank, Société Générale and India Infoline Ltd.

Yogendra Pal Singh

INDEPENDENT DIRECTOR

Mr. Yogendra Pal Singh, Independent Director, had joined the Indian Police Service in 1981. He held several positions in the police force in Uttar Pradesh in executive policing, vigilance, police training and armed police. Therefore, his understanding of demographics and various districts of India is unparalleled. He brings in value on table while selecting any new geography for RapiPay’s business territory.

He served at the Central Bureau of Investigation in the fields of Special Crime and Anti-Corruption, for nine years, as DIG (Special Crime) and Joint Director (Mumbai and Delhi Anti-Corruption zone) respectively. This has helped RapiPay in improving its processes related to Fraud detection and money laundering. Mr. Singh has looked at Fund velocity checks of systems and can gauge any early signs of Fraud in the system. He has served at the International Cricket Council, Dubai in the capacity of General Manager and Head of Anti-Corruption from June 2011 to March 2017.

Vinod Somani

CHAIRMAN & INDEPENDENT DIRECTOR

Mr. Vinod Somani is a fellow member of the Institute of Chartered Accountants of India. & He is a senior partner with M/s KG Somani Co., chartered accountants since 1986. He has been auditing the accounts of Nationalised Banks, Insurance Companies, Government and Public Sector Companies. He has a sound knowledge of Finance, Companies Act and Tax Laws.

Since M/s KG Somani & Co was registered under the SEBI Merchant Banker Category IV, he is well-versed with Merchant Banking activities. He was a member of the MOU Task Force and Expert panel of the Task Force on the Memorandum of Understanding of Central Public Sector Enterprises.

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