EnKash
EnKash is an India-based B2B fintech providing an integrated spend management platform spanning payment collection, corporate cards, expense management, and rewards, backed by three RBI licenses and serving 5,000+ businesses.
- Company typePrivate
- Founded2018
- HeadquartersMumbai, India
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What EnKash does
EnKash (legal entity: Nehat Tech Solutions Pvt. Ltd.) is an India-based B2B fintech operating a full-stack spend management and payments platform built around four integrated pillars: payment collection (gateway, UPI, payment links, e-NACH, instant settlements, affordability suite), expense management (budget controls, digital petty cash, reimbursements, scan-and-drop receipts, policy/approval workflows, spend analytics), corporate and prepaid cards (multi-wallet corporate card, travel, meal, fuel, gift, and purchase cards), and rewards/vouchers (employee rewards, channel incentives, voucher marketplace). The platform is delivered through a combination of direct enterprise sales for mid-market and large businesses and an API-first developer model (docs.enkash.com), with operational depth across connected banking via integrations with 12+ Indian banks, Visa, Mastercard, and NPCI rails. The technology is built on RBI-licensed infrastructure — Payment Aggregator, Prepaid Payment Instrument, and Bharat Bill Payment Operating Unit — with PCI DSS and SOC certifications.
Revenue mechanics are predominantly transaction-based, combining payment gateway processing fees, card issuance/interchange, and platform/subscription fees for expense management, supplemented by commission/transaction fees on voucher and rewards distribution. Pricing is quote-based and not publicly disclosed, with custom enterprise contracts that include dedicated account management and early access to new features. Customers include 5,000+ Indian businesses across highly diversified verticals — QSR, retail, aviation, media, financial services, logistics, conglomerates, and healthcare — with named logos spanning Starbucks, Adidas, McDonald's, Reliance, British Airways, Tata AIG, PNB Housing, DTDC, Pristyn Care, and Vijay Sales. The company is headquartered in Mumbai with offices in Gurugram and Pune, has raised approximately $23 million in total funding (including a $20 million Series B in April 2022 led by Ascent Capital), and has signaled expansion plans into MENA and Southeast Asia alongside banking-as-a-service offerings for banks and NBFCs.
EnKash firmographics
Firmographics- Name
- EnKash
- Legal name
- Nehat Tech Solutions Pvt. Ltd.
- Website
- https://enkash.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- EnKash is an India-based B2B fintech providing an integrated spend management platform spanning payment collection, corporate cards, expense management, and rewards, backed by three RBI licenses and serving 5,000+ businesses.
- Ownership category
- akta.pro rank
EnKash industry classification
Industry- Product category
- B2B Spend Management Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Corporate Cash Management & Treasury ACH (FSAMAGAG)
- akta.pro secondary industries
- A2A Payouts & Disbursements (FSAMAFAG), Biller Direct EBPP Platforms (FSAMAJAA), B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)
Keywords
Where EnKash is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
EnKash business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Processing & Gateway Fees: Transaction-based revenue from payment gateway processing, accepting payments across UPI, cards, net banking, and wallets
- Corporate Card Services: Revenue from corporate card issuance including prepaid cards, meal cards, fuel cards, gift cards, and travel & expense cards with spend controls
- Expense Management Platform: Platform fees for budget management, approval workflows, and spend analytics services
- Rewards & Voucher Distribution: Distribution of brand vouchers and rewards with commission or transaction fees
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
EnKash product offering
Product offeringCore offering
EnKash provides a unified B2B spend management platform that combines payment collection, expense management, corporate cards, and rewards/vouchers into a single ecosystem. Backed by RBI-licensed partners and operating across multiple banking partners, the platform enables businesses to disburse funds, track expenses, automate collections, and earn cashback/rewards, all from one integrated interface.
Product overview
EnKash is a full-stack B2B spend management platform built as a platform-plus-modules architecture. Its core financial operating layer spans four integrated pillars: (1) Collect Payments — encompassing Payment Gateway, Payment Links, Payment Button, UPI Payments, QR Codes, Auto Collect, e-NACH, Instant Settlements, and Affordability Suite (EMI/BNPL); (2) Expense Management — covering Budget & Advances, Digital Petty Cash, Reimbursements, Scan & Drop Receipts, Spend Analytics, Workflow Management, and Policy & Approval Flows; (3) Corporate Cards & Prepaid Cards — including Multi-Wallet Corporate Card, Prepaid Card, Meal Card, Fuel Card, Gift Cards, Purchase Card, Travel & Expense Card, and the flagship Unified Corporate Card Ecosystem that unifies all card types with UPI and petty cash; and (4) Rewards & Vouchers — comprising Employee Rewards, Channel Incentives, Exclusive Offers, and a Voucher Marketplace across e-commerce, food, health, entertainment, and apparel categories. A receivables automation suite (Digital Invoicing, Auto Reconciliation, Connected Banking, Collection Reminder Engine, Collection Analytics) and a payables automation suite (Vendor Payments, Payroll Processing, Bulk Pay, GST Payment, Payable Analytics) complete the platform. The platform is backed by RBI Payment Aggregator and Prepaid Payment Instrument licenses, SOC and PCI DSS certifications, and serves 5,000+ businesses across India since 2018.
Differentiator
Problem solved
Functional benefit
Products and services
- Unified Corporate Card Ecosystem A centralized corporate card program that unifies prepaid and credit cards issued through multiple partner banks into one spend management infrastructure for businesses. It is designed for companies seeking to issue, manage, and control employee and vendor cards from a single platform.
- Connected Banking A multi-bank aggregation and transaction platform that connects a business's bank accounts into a unified interface for payments, reconciliation, and cash flow visibility.
- Collection Analytics An analytics module that gives finance and AR teams visibility into receivables, payer behavior patterns, and collection performance metrics to optimize cash inflow cycles.
- Collection Reminder Engine An automated reminder and communication engine that schedules, dispatches, and tracks collection notices to customers via configured rules, reducing manual AR follow-up.
Quantifiable outcome
- 5,000+ businesses served since 2018
- +3 more outcomes
Companies that use EnKash
Customer profileNamed customers15 records
Segments3 records
Ideal customer profiles2 records
EnKash technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature5 records
EnKash partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and major.
- VisacoreCard network partnership enabling corporate card issuance and payment processing
- MastercardcoreCard network partnership for corporate card products and payment acceptance
- NPCI (National Payments Corporation of India)corePayment infrastructure partnership enabling UPI, NACH, and other NPCI payment rails
- AU BankcoreConnected banking partnership linking AU Bank accounts to EnKash platform for payout automation
- Axis BankcoreConnected banking partnership for payout routing and account integration
- ICICI BankcoreConnected banking partnership for automated payouts and reconciliation
- HDFC BankcoreConnected banking partnership enabling payout automation from HDFC accounts
- Kotak Mahindra BankmajorConnected banking partnership for account linking and payout processing
- Yes BankmajorConnected banking partnership for payout automation
- RBL BankmajorConnected banking partnership for account integration and payouts
- IndusInd BankmajorConnected banking partnership for payout routing and reconciliation
- DBS Bank IndiamajorConnected banking partnership for account linking and automated payouts
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
EnKash competitors and assessment
Company assessmentDirect peers
- Razorpay: India's leading full-stack payment gateway and business banking platform serving 8M+ businesses. Directly comparable as a payment aggregator offering payment gateway, payouts, corporate cards (RazorpayX), and expense workflows — overlapping with EnKash's four-pillar platform.
- Cashfree Payments: Indian payment gateway and payouts platform offering payment gateway, instant settlements, bulk payouts, and vendor payouts. Directly comparable to EnKash's payment collection and connected banking offerings.
- Happay: India-focused expense management and corporate card platform covering reimbursements, prepaid cards, vendor payments, and travel expense. Closest direct competitor to EnKash's expense management + corporate cards pillars.
- Karbon Card: Indian fintech offering corporate cards with built-in expense management, approvals, and accounting integrations for startups and enterprises. Directly comparable to EnKash's Multi-Wallet Corporate Card and Unified Card Ecosystem.
- Fyle: India-headquartered expense management platform with real-time card feeds, receipt scanning, and policy automation. Comparable to EnKash's Expense Management pillar including Scan & Drop and reimbursement flows.
Broad incumbents
- PayU India: Larger, established payment processor in India (part of global PayU) offering payment gateway, payouts, and credit products. Comparable to EnKash's payment-aggregation core but at meaningfully greater scale and broader portfolio.
- Zoho Expense: Part of Zoho's broader business software suite, offering expense management, corporate cards, receipt scanning, and approvals. Competes with EnKash's expense pillar but as part of a much wider productivity-and-finance portfolio.
Emerging players
- Open (open.money): Indian neobank for SMEs offering business banking, payments, expense management, and accounting integrations. Comparable as an integrated business spend and banking platform targeting similar mid-market and enterprise customers.
- Niyo: Indian fintech offering digital banking, corporate cards, and expense management for salaried employees and businesses. Comparable to EnKash's prepaid card and expense offerings at the SMB end of the market.
- Plural (by Pine Labs): India-focused payment gateway and checkout platform for enterprises. Comparable as a payment-aggregation peer targeting enterprise merchants, though narrower in scope than EnKash's full-spend platform.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
EnKash social profiles
Digital presenceEnKash compliance and trust
Trust signalCompliance4 records
EnKash financial estimates
Financial estimateRevenue estimate
Valuation estimate
EnKash leadership team
Management profileNumber of profiles
Profiles3 records
EnKash funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EnKash M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EnKash
What does EnKash do?
EnKash provides a unified B2B spend management platform that combines payment collection, expense management, corporate cards, and rewards/vouchers into a single ecosystem. Backed by RBI-licensed partners and operating across multiple banking partners, the platform enables businesses to disburse funds, track expenses, automate collections, and earn cashback/rewards, all from one integrated interface.
Is EnKash a public or private company?
EnKash is a private company. It is classified as venture growth investor backed and is currently operating.
When was EnKash founded?
EnKash was founded in 2018. It employs 101 to 250 people.
Where is EnKash based?
EnKash is headquartered in Mumbai, India, in the Asia region.
How does EnKash make money?
Four revenue lines are on record. Payment Processing & Gateway Fees are the primary driver. The others are corporate Card Services, expense Management Platform and rewards & Voucher Distribution.
Who are EnKash's main competitors?
Direct peers on record are Razorpay, Cashfree Payments, Happay, Karbon Card and Fyle. Broad incumbents are PayU India and Zoho Expense. Emerging players are Open (open.money), Niyo and Plural (by Pine Labs).
Does EnKash have an API?
Yes. EnKash offers developer-facing APIs and plug-and-play modules enabling businesses to automate payment flows and integrate EnKash's financial operating layer into their own systems. Developer documentation covers Payment Gateway, Prepaid Cards, Expense Management, and Rewards modules. The platform supports API-based automation, bulk upload options (CSV/Excel), maker-checker workflows, webhook-based event triggers, and ERP/accounting platform synchronization. Developer documentation is at docs.enkash.com.
What industry is EnKash in?
EnKash's product category is B2B Spend Management Platform. Its primary akta.pro industry code is FSAMAGAG, Corporate Cash Management & Treasury ACH, with a secondary code of FSAMAFAG, A2A Payouts & Disbursements. Its NAICS code is 522320 and its SIC code is 6099.