Xotik Travel and Forex

Name

Xotik Travel and Forex

Legal name

Xotik Travel And Forex Pvt Ltd

Website

https://xotik.in

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Foreign Exchange and Travel Services

NAICS

Travel Agencies (56151), Credit Card Issuing (52221)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

akta.pro secondary industries

Cross-Border Payment Orchestration & Routing (FSAGAKAJ), Travel Merchant Acquiring & Payment Orchestration (PSPs, gateways) (THALAHAA), Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB)

Keywords

• Foreign exchange services
• Outward remittances
• Forex card issuance
• Travel agency services
• Corporate event management

Headquarters

HQ city

Jaipur

HQ country

India

HQ region

Asia

Offices38 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Foreign Exchange Services: Revenue from currency exchange margins, forex card issuance fees, and foreign currency transaction fees. Operating as RBI Authorized Dealer Category II (AD-II), earning spreads on exchange rate transactions for retail and business customers.
2. Travel Services: Commissions and fees from tour packages, flight bookings, visa processing, and travel insurance services. IATA-certified operations enable airline ticketing revenue stream.
3. Event Management Services: Fees from corporate MICE events, exhibitions, conferences, and destination wedding planning services.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Xotik Travel and Forex is an RBI Authorized Dealer Category II that sells foreign currency notes, multi-currency prepaid forex cards, outward remittances under the Liberalised Remittance Scheme (LRS), and international money transfers through 40+ branches across India. The company also delivers travel services — tour packages, visa assistance, air-ticketing under IATA certification, and travel insurance — and operates a portfolio division for corporate MICE events, exhibitions, and destination weddings. The Pay2Remit platform underpins its digital cross-border payments infrastructure.

Product overview

Xotik Travel and Forex Pvt Ltd operates as a multi-service travel and foreign exchange company offering an integrated platform combining forex services and travel solutions. The core product portfolio includes Foreign Exchange Services (foreign currencies, multi-currency forex cards, outward remittances, and money transfers) and Travel Services (tour packages, travel insurance, visa/air-ticketing). The company also provides Event Management and Wedding Planning services under its portfolio division. A key technology platform, Pay2Remit, powers digital cross-border finance operations. The business model combines physical branch presence (40+ locations) with forex and travel services, targeting individual travelers, students, businesses, and corporate clients requiring international financial and travel solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Pay2Remit: Technology platform powered by Xotik for international payments and remittance infrastructure supporting digital cross-border finance.

Products and services

• Foreign Currencies Purchase and sale of international cash currency notes for travelers, available in major and minor currencies through the 40+ branch network across India under the RBI AD-II license.
• Forex Cards (Multi-Currency Prepaid Cards) Prepaid multi-currency cards with global acceptance at ATMs and merchants, secured with PIN/OTP, offered to international travelers and students.
• Outward Remittances Cross-border money transfer services under RBI's Liberalised Remittance Scheme (LRS) for education, medical treatment, business payments, and personal maintenance abroad.
• Money Transfer International wire transfer and remittance services for vendor payments, family maintenance, and other cross-border purposes.
• Tour Packages Domestic and international travel packages including cruises, luxury packages, conference travel, group movements, incentive tours, and individual traveler arrangements.
• Travel Insurance Customized travel insurance plans covering medical emergencies, trip cancellations, baggage loss, and pandemic-related issues, offered through partner insurers.
• Visa and Air-Ticketing Assistance Flight ticket booking and visa application assistance including document preparation, embassy submissions, and status tracking for international travelers.
• Event Management Services Corporate event planning including exhibitions, expos, branding, road shows, and turnkey event production with global-standard technology and equipment.
• Wedding Planning Services Destination wedding planning including theme design, venue selection, vendor coordination, decoration, and end-to-end logistics management.
• MICE (Meetings, Incentives, Conferences, Exhibitions) Corporate MICE event management including venue selection, event coordination, thematic designs, incentive travel programs, and exhibition planning for enterprise clients.
• Pay2Remit In-house technology platform for digital international payments and remittance infrastructure, supporting faster, more efficient, and transparent cross-border financial services with real-time transaction visibility and digital onboarding.

Quantifiable outcome

• ₹10,000 Cr+ exchanged through the platform
• +3 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Artemis Medical Services Ltd.minorOthersArtemis Medical Services Ltd. hosts Xotik's Gurugram office location, indicating a commercial office space arrangement.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Weizmann Forex: Indian RBI-authorized forex operator with multi-branch presence offering currency exchange, forex cards, and remittance services. Closely comparable to Xotik in regulatory positioning, product mix, and target customer segments.
• Thomas Cook (India): One of India's largest integrated travel and forex companies, offering foreign exchange, outbound tours, visa, and travel insurance — directly comparable to Xotik's combined travel + forex model, though at significantly larger scale.
• BookMyForex: India's leading digital-first forex marketplace offering currency notes, forex cards, and outward remittances. Directly competes with Xotik's core forex business but operates with a digital-only model versus Xotik's branch-led approach.
• Muthoot Forex: Indian RBI-authorized forex dealer offering foreign currency, forex cards, and outward remittances, with branch-led distribution similar to Xotik's model. Comparable in scale, license type, and target customer base.
• Unimoni: Global forex and remittance brand with strong India presence offering currency exchange, outward remittances, and travel services through a multi-branch network. Closely comparable to Xotik's integrated forex + travel positioning.
• Centrum Direct: RBI-authorized AD-II forex operator with pan-India branch network providing foreign currency, forex cards, and outward remittances — comparable to Xotik in license type, branch-led distribution, and customer profile.

Emerging players

• Niyo Solutions: Indian fintech offering digital forex cards and travel-focused financial products. Represents the emerging digital-native threat to Xotik's traditional forex card and remittance business, particularly with younger outbound traveler segments.

Broad incumbents

• MakeMyTrip: India's largest online travel aggregator dominating flight, hotel, and holiday bookings. Comparable to Xotik's travel services arm but operates at vastly larger scale and competes more on digital distribution than physical branches.
• Yatra Online: Major Indian online travel company offering flights, hotels, holiday packages, and corporate travel. Competes with Xotik's travel business as a broad incumbent rather than a focused mid-market player.
• Cox & Kings (historical): Once a major Indian travel and forex player with a similar integrated travel + forex + outbound services model. Provides a historical reference point for the structural challenges of running a branch-heavy integrated travel/forex business in India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Xotiktf
• YouTubeyoutube.com/@XotikTravelandForexPvtLtd
• Facebookfacebook.com/XotikTravelandForex
• LinkedInlinkedin.com/company/xotik-travel-and-forex-pvt-ltd
• Instagraminstagram.com/xotik_travel_and_forex
• Pinterestin.pinterest.com/xotiktravelandforex

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

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 Xotik Travel and Forex