Fxkart.com

What Fxkart.com does

Fxkart.com, operated by FXKART.COM FZ LLC (incorporated in the Dubai Creative City Media Free Zone, with operations centered in Bengaluru), is an online marketplace that aggregates live foreign exchange rates from 200+ RBI-licensed money changers and routes Indian-resident customers to the best available bid. The platform supports four core transaction types — buy forex (currency notes for outbound travel), sell forex (unspent currency on return), travel cards (multi-currency prepaid cards), and outward remittances via a dedicated remittance.fxkart.com sub-brand — with doorstep delivery handled by partner dealers. The underlying technology is a web-based aggregation and competitive bidding system in which money changers submit live rates within a 5-minute window and quotes are valid for 15 minutes; city-specific landing pages drive SEO-led acquisition across 25+ Indian cities, and a mobile booking app extends the funnel to self-serve smartphone users.

The business model is a two-sided marketplace monetized primarily through service fees and commissions levied on partner money changers for transactions facilitated, supplemented by pass-through payment-gateway fees. Customers transact free of charge on the platform, with pricing governed by short-lived indicative quotes and TCS levied at 5% on indicative INR for travel-card orders. The go-to-market combines product-led growth (self-serve booking) with an inside-sales callback layer (forex hotline +91-9341 044 044 and a website lead form) for higher-value or non-standard orders. Distribution is amplified by partnerships with QuikrServices and Drrupee and by PR coverage in major Indian business and technology publications.

The company is founder/management-owned, with no disclosed institutional investors beyond a single $2M round dated March 2015. Headcount is reported at 11–50 employees, and management includes a CEO, CTO, and Head of Product Development. Operations are restricted to Indian nationals resident in India, and the platform does not itself hold an RBI money-changer licence — it acts purely as an aggregator and lead router, with regulatory burden and capital adequacy resting on partner dealers.

Name

Fxkart.com

Legal name

FXKART.COM FZ LLC

Website

https://fxkart.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Forex Marketplace

akta.pro primary industry

Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), Card-Based Cross-Border Payments & FX Settlement (FSAMAIAD)

Keywords

• Forex marketplace
• Currency exchange
• Outward remittance
• Travel cards
• Forex aggregation

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. Service Fee / Transaction Commission: Fxkart collects service fees from partner money changers for facilitating transactions. The platform acts as a marketplace that routes payments through to money changers' bank accounts, less the service fee levied by Fxkart.com. Membership for customers is free.
2. Payment Gateway Fees: Customers pay payment gateway charges (merchant service fees) when making online payments, which are passed through to the payment processor.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Fxkart.com is India's largest forex marketplace, aggregating live exchange rates from 200+ RBI-licensed money changers across 25+ cities. The platform enables Indian travellers to compare real-time rates and book Buy Forex, Sell Forex, Travel Cards, and Wire Transfer/Remittances services through a 5-minute bidding window, with doorstep delivery arranged through partner money changers.

Product overview

Fxkart.com is a forex aggregation marketplace platform that connects users with over 200+ RBI-licensed money changers across India. The platform aggregates real-time forex rates through its core services: Buy Forex, Sell Forex, Travel Card, and Wire Transfer/Remittances. Users can compare live rates, place orders, and receive forex delivery at their doorstep. The platform operates as an intermediary matching customers with authorized forex dealers rather than handling transactions directly.

Differentiator

Problem solved

Functional benefit

Brands

• Remittance (remittance.fxkart.com): Outward remittance service for international money transfers

Quantifiable outcome

• Better forex rates compared to other platforms and banks for a $10,000 transaction
• +1 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered minor.

• QuikrServicesminorGTM or Marketing PartnerFxkart.com announced an exclusive partnership with QuikrServices to expand distribution and reach more customers in India through the Quikr platform's service marketplace.
• DrrupeeminorOthersDrrupee is listed as an offering partner, providing financial services integration or co-branding on the Fxkart platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• MakeMyTrip: MakeMyTrip is India's largest online travel agency and offers forex/travel cards as an adjacent product to flight, hotel, and holiday bookings. Its captive outbound traveller audience and travel intent data make it a credible broad incumbent competitor in retail FX.
• Thomas Cook India: Thomas Cook India is a large incumbent travel and forex services company offering foreign exchange, travel cards, and outward remittances alongside its broader travel business. It competes for the same Indian outbound traveller FX wallet with established brand trust and physical distribution.
• HDFC Bank Forex: HDFC Bank is one of India's largest authorized dealers offering foreign currency, travel cards, and outward remittances to its massive retail customer base. As a broad incumbent, it competes with Fxkart on convenience and trust even if its FX spreads are typically less competitive.
• EbixCash: EbixCash is a large Indian fintech ecosystem offering forex, remittances, travel, and payments through both digital channels and a vast partner/distributor network. It overlaps with Fxkart across retail FX, outward remittance, and travel cards, but operates at much larger scale as a diversified incumbent.

Emerging players

• Wise (formerly TransferWise): Wise is a global cross-border payments platform offering mid-market FX rates and low-fee international transfers. While Fxkart focuses on Indian retail cash/travel forex and LRS outward remittance, Wise addresses the cross-border payments layer with comparable retail FX economics for Indian users.
• Niyo Solutions: Niyo is an Indian consumer fintech offering digital savings accounts, prepaid forex/travel cards, and cross-border products targeted at Indian travellers. It overlaps with Fxkart's travel card and forex offering with a more bank-partner-embedded product experience.
• InstaReM (now part of Network International): InstaReM is a digital cross-border payments platform offering competitive FX and remittance services to individuals and businesses. It overlaps with Fxkart's remittance.fxkart.com service for outward remittances from India, particularly for SMEs and salary corridors.

Direct peers

• Weizmann Forex: Weizmann Forex is an RBI-authorized dealer and full-stack forex services provider in India offering currency notes, travel cards, remittances, and corporate FX. It competes both as a potential partner on Fxkart's marketplace and as a direct retail competitor with nationwide branch coverage.
• BookMyForex: BookMyForex is the closest direct competitor — an Indian online forex marketplace aggregating rates from multiple RBI-licensed money changers for currency notes, travel cards, and remittances. It targets the same Indian outbound traveller customer and runs a similar commission-based marketplace model.
• Unimoni (formerly UAE Exchange India): Unimoni is a global remittance and foreign exchange brand with a large Indian branch and digital network offering currency notes, travel cards, and outward remittance. It competes directly for the same Indian retail FX customer and is also a potential partner money changer on Fxkart's platform.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/fxkart
• Facebookfacebook.com/fxkart
• LinkedInlinkedin.com/company/fxkart-com

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

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 Fxkart.com