MAKSPay

What MAKSPay does

MAKSPay Fintech Solutions Private Limited is a Hyderabad-based digital lending infrastructure platform founded in 2020 that builds and operates end-to-end digital lending journeys for government-backed and priority-sector loans in India. The company serves banks and NBFCs that need to deliver small-ticket loans — including PM SVANidhi street-vendor loans, CGTMSE-guaranteed micro-enterprise loans, and merchant working capital — to underserved borrowers profitably. The platform covers KYC, credit assessment, disbursement, and collections, and is explicitly aligned with RBI Digital Lending Guidelines and NPCI mandate framework requirements. End borrowers reached through MAKSPay's journeys include street vendors, kirana store owners, and micro-entrepreneurs gaining first formal credit access.

The platform's technology stack integrates Yes Bank UPI AutoPay mandate rails for recurring collections, Meta WhatsApp Business Platform for borrower communication orchestration, DigiLocker for consent-driven document validation, and credit bureaus (CIBIL, CRIF, Equifax, Experian) for underwriting data. Core products comprise PehchanPe (a digital lending marketplace for micro and small enterprises applying for CGTMSE and PM SVANidhi loans), PehchanPe Pulse (an AI-powered financial health report that turns small business financial data into credit readiness insights), and MAKSPay Collect (an automated repayment engine with smart retries, shortfall recovery, and T+1 reconciliation). The company operates three service roles for financial institutions: Technology Service Provider (TSP), Lending Service Provider (LSP), and Collections Service Provider (CSP).

MAKSPay monetizes through managed-services fees across its TSP, LSP, and CSP roles, plus transaction-based fees on collections processed through UPI AutoPay. Pricing is quote-based and negotiated per partner, consistent with its B2B institutional motion. Its disclosed customer base comprises five banking and NBFC partners — SIDBI, AU Small Finance Bank, Muthoot Fincorp, Light Finance, and Hero FinCorp — with SIDBI as the anchor deployment through the UAP Credit Marketplace. The company is incubated at T-Hub in Hyderabad, and has received grant support from the Bill & Melinda Gates Foundation, MetLife Foundation, Citi Social, TSIC, and Kotak BizLabs. Leadership consists of founder Shiva Prasad (CEO), co-founder Kavitha Palancha (COO), Cloud Architect Bhagyesh Motkar, and Product Manager Ravi Kala.

Name

MAKSPay

Legal name

MAKSPay Fintech Solutions Private Limited

Website

https://makspay.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

MAKSPay is a Hyderabad-based digital lending infrastructure platform that builds and operates end-to-end digital lending journeys for banks and NBFCs serving India's underserved micro-entrepreneurs, covering KYC, credit assessment, disbursement, and UPI AutoPay collections aligned with RBI guidelines.

Ownership category

akta.pro rank

Product category

Digital Lending Infrastructure

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Loan Brokers (6163), Finance Services (6199)

akta.pro primary industry

Marketplace & Loan Aggregation Platforms (Borrower-Lender Matching) (FSAGAHAL)

akta.pro secondary industries

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), P2P Small Business / SME Marketplace Lending (FSAKAHAC)

Keywords

• Digital lending infrastructure
• Lending as a service
• Priority sector lending
• UPI autopay collections
• Financial inclusion platform

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Technology Service Provider (TSP) Fees: Revenue from building and hosting digital lending stacks for banks and NBFCs, including customisable lending platforms, API integrations, and cloud hosting aligned with RBI Digital Lending Guidelines.
2. Lending Service Provider (LSP) Fees: Revenue from sourcing borrowers and managing them through the loan lifecycle for financial institutions: onboarding, KYC, credit assessment support, and collections, acting on the partner's behalf.
3. Collections Service Provider (CSP) Fees: Revenue from running loan repayment cycles on UPI AutoPay rails, including mandate management, execution, retries, and reconciliation services for lending partners.

Distribution channels2 records

Marketing channels4 records

Core offering

MAKSPay builds and operates digital lending infrastructure for banks and NBFCs in India, covering KYC, credit assessment, disbursement, and collections end-to-end aligned with RBI Digital Lending Guidelines. It delivers three B2B service lines—Technology Service Provider (digital lending stack), Lending Service Provider (borrower lifecycle management), and Collections Service Provider (UPI AutoPay repayments)—and operates the PehchanPe digital lending marketplace for government-backed micro-enterprise loans.

Product overview

MAKSPay is a digital lending infrastructure platform for financial inclusion in India, operating as a unified platform-plus-services architecture. The core product is PehchanPe, a digital lending marketplace for government-backed loans (CGTMSE-guaranteed and PM SVANidhi loans), complemented by PehchanPe Pulse, an AI-powered financial health report. The platform delivers three service models: Technology Service Provider (digital lending stack), Lending Service Provider (borrower lifecycle management), and Collections Service Provider (UPI AutoPay repayments). MAKSPay Collect is the specialized collections engine for automated loan repayments. The system integrates with Yes Bank UPI rails, NPCI, WhatsApp Business Platform, DigiLocker, and credit bureaus to enable straight-through loan processing from application to disbursement for underserved entrepreneurs.

Differentiator

Problem solved

Functional benefit

Brands

• PehchanPe: Digital lending marketplace for government-backed loans including CGTMSE-guaranteed and PM SVANidhi loans, offering fully digital straight-through processing with agent assistance where needed.
• PehchanPe Pulse

Products and services

• Technology Service Provider (TSP) Builds and hosts digital lending stacks for financial institutions, including customisable lending platforms, digital user journeys, API integrations, and secure cloud or on-premise hosting aligned with RBI Digital Lending Guidelines.
• Lending Service Provider (LSP) Sources and manages borrowers through the loan lifecycle on behalf of lenders, including onboarding, KYC, document validation, credit assessment support, and collections under the lender's policies.
• MAKSPay Collect (Collections Service Provider / CSP) Runs loan repayment cycles on Yes Bank UPI AutoPay rails, with NPCI-compliant mandates, automated daily execution, intelligent retries, shortfall recovery, and T+1 reconciliation. Uses WhatsApp Business Platform for borrower orchestration.
• PehchanPe Digital lending marketplace where micro and small enterprises apply for CGTMSE-guaranteed and PM SVANidhi loans through a fully digital straight-through process, with agent assistance available when needed.
• PehchanPe Pulse AI-powered financial health report that turns small business financial data into credit readiness insights for borrowers and lender-ready assessment views for lenders.

Quantifiable outcome

• Loans that previously took weeks to process now complete in days through straight-through digital processing
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability7 records

Feature9 records

Partnerships

Four partnerships are on record, tiered core.

• Yes BankcoreTechnology or IntegrationYes Bank provides UPI AutoPay mandate rails for MAKSPay Collect. The platform runs its entire repayment cycle on Yes Bank's NPCI-compliant UPI AutoPay infrastructure.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationNPCI provides the AutoPay mandate framework that MAKSPay Collect operates on. All mandate executions are NPCI-compliant with pre-debit notifications.
• Meta (WhatsApp Business Platform)coreTechnology or IntegrationMeta's WhatsApp Business Platform is used for borrower communications throughout the mandate lifecycle, including pre-debit notifications, payment confirmations, and failed-debit alerts. No app download required for borrowers.
• DigiLockercoreTechnology or IntegrationDigiLocker is used for consent-driven document validation. Borrowers share KYC/KYB documents from DigiLocker with explicit consent for authentication and validation.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Oxyzo (formerly Capital Float): Tech-enabled lending platform providing working-capital and SME loans in partnership with financial institutions. Overlaps with MAKSPay in the B2B digital lending infrastructure and SME credit segment, with similar underwriting-led value proposition.
• Lendingkart: India-based digital lending platform focused on SME and small-business loans, providing technology and capital solutions to underserved borrowers. Comparable to MAKSPay as a B2B-driven digital lending infrastructure player serving thin-file borrowers through partner financial institutions.
• KreditBee: Digital lending platform offering personal and small-ticket loans to underserved consumers and gig workers in India. Comparable to MAKSPay in deploying alternative-data scoring and digital collections for thin-file borrowers.
• Ziploan: India-based digital lending platform focused on small business and retailer financing. Comparable to MAKSPay in serving small merchants through technology-led underwriting and lending-as-a-service models.
• MoneyTap: Digital lending app offering personal credit lines through partner banks and NBFCs in India. Comparable to MAKSPay in operating a tech-led lending-as-a-service model with financial institution partnerships.
• Indifi Technologies: Digital lending platform enabling small businesses to access credit through partnerships with banks and NBFCs across India. Directly comparable to MAKSPay in operating a marketplace and technology stack that connects SMEs with institutional lenders.

Emerging players

• BharatPe: Fintech platform serving India's small merchants with payments, lending, and business services. Comparable in serving kirana stores and micro-entrepreneurs, with overlap in merchant lending and digital collections infrastructure.

Others

• Lending Club: US-based marketplace lending pioneer operating a borrower-lender matching platform with institutional and retail investors. Comparable to MAKSPay in the marketplace/aggregation lending model, useful as a structural comp for digital lending infrastructure plays.
• Funding Circle: Global SME lending marketplace connecting small businesses with institutional and retail lenders. Comparable to MAKSPay as a marketplace lender with a B2B platform orientation and similar small-business underwriting philosophy.

Broad incumbents

• Paytm (One97 Communications): Large Indian digital payments and financial services platform offering merchant lending, UPI payments, and consumer credit products. Comparable as a broad incumbent with overlapping lending infrastructure and merchant-facing products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/makspay
• Facebookfacebook.com/MAKSPayFintechSolutionsPrivateLimited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MAKSPay