hitch
- Company typePrivate
- Founded2022
- HeadquartersBhubaneswar, India
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
hitch firmographics
Firmographics- Name
- hitch
- Legal name
- Kottakota Business Development Pvt. Ltd.
- Website
- https://hitch.zone
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
hitch industry classification
Industry- Product category
- Digital Payments Platform
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Biller Direct EBPP Platforms (FSAMAJAA)
- akta.pro secondary industries
- Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK), Parking & Toll Payment/Reservation Platforms (BPAMAIAL)
Keywords
Where hitch is headquartered
LocationHeadquarters
- HQ city
- Bhubaneswar
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
hitch business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Cashback & Referral Rewards: Rewards program where users earn cashback on bill payments, mobile recharge, FASTag, rent, and other transactions. Referral program lets users invite friends and earn rewards when they transact.
- Platform Fee: A non-refundable platform fee applied for cross-management of internal servers and infrastructure, charged as part of transactions. No GST applied.
- Platform Deposit Fee: Minimum business guarantee amount collected as security deposit from customers using specific products. Refundable only upon meeting minimum activity thresholds within stipulated timeframe.
- Prepaid Card Issuance & Maintenance Fees: Maximum issuance fee of ₹100 for FASTag-linked PPI. Annual maintenance fee of ₹250 plus GST for PPI inactive for 12 consecutive months.
- Personal Loan Processing: Interest income from personal loans disbursed, with APR starting from 16% p.a. up to 36% p.a., loan amounts up to ₹5 lakhs, and tenures from 6 to 60 months.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Platform Fee (per transaction) |
| Unit Pricing | One time/ perpetual license | FASTag PPI Issuance Fee |
| Subscription | Annual | PPI Maintenance Fee (inactive accounts) |
| Other | Monthly | Personal Loan APR |
| Usage-based | Pay-as-you-go | Cashback on Transactions |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
hitch product offering
Product offeringCore offering
hitch operates a digital payments platform through a consumer mobile app that consolidates mobile recharge, utility bill payments, FASTag recharge, rent payments, prepaid card services, and personal loans into a single interface. The platform is operated by Kottakota Business Development Pvt. Ltd. under RBI Prepaid Payment Instrument authorization and BBPS certification, serving individual consumers and small merchants across India.
Product overview
hitch is a fintech company (Kottakota Business Development Pvt Ltd) offering a comprehensive digital payments platform with multiple integrated services. The core offering is a mobile payment app that enables mobile recharge, bill payments (electricity, water, gas, DTH, insurance, credit cards, loans, education fees, municipal taxes, housing society fees), rent payments, and FASTag recharges. The platform provides a Prepaid Card (PPI) for users to load money and make payments without a bank account, offering 1% cashback and NCMC support. hitch also offers Personal Loans up to INR 5 lakhs with 24-hour approval. The platform operates through partnerships with BBPS (Bharat Bill Payment System) and Cashfree Payments for secure transaction processing. Founded in 2022 by K. Sambid Kumar in Bhubaneswar, Odisha, hitch serves 100K+ active customers and 20K+ global partners.
Differentiator
Problem solved
Functional benefit
Brands
- hitch Prepaid Card: Prepaid Payment Instrument (PPI) card that works without requiring a bank account, offers 1% cashback on e-commerce and offline shopping, and supports NCMC (National Common Mobility Card) system.
Products and services
- Mobile Recharge Prepaid and postpaid mobile recharge services for individual Indian consumers through the hitch mobile app, enabling top-ups for telecom operators.
- Utility Bill Payments BBPS-certified utility bill payment services (electricity, gas, water, and similar recurring bills) for Indian consumers via the hitch mobile app.
- FASTag Recharge FASTag recharge service enabling Indian vehicle owners to top up their electronic toll accounts through the hitch app.
- Rent Payments Digital rent payment service for tenants and landlords to settle rental obligations through the hitch app.
- Prepaid Card RBI-authorized prepaid card issued by hitch for consumer payments and online/offline purchases, leveraging its Prepaid Payment Instrument license.
- Personal Loans Personal loan product distributed through the hitch platform to eligible Indian consumers, broadening its financial services beyond payments.
Quantifiable outcome
- 100K+ active customers
- +2 more outcomes
Companies that use hitch
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
hitch technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
hitch partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- M2P FINTECHcoreM2P FINTECH is one of India's largest fintech API providers, offering partner assurance to hitch. The partnership provides hitch with access to M2P's API infrastructure for prepaid cards, lending, and payment services. M2P's ecosystem includes major players like Bajaj Finance, Cashfree Payments, PayU, Axis Bank, and MobiKwik, providing hitch with a credible compliance and technology backbone.
- NPCI (National Payments Corporation of India)coreNPCI operates the underlying payment rails that hitch leverages — UPI for fund transfers, NETC for FASTag toll payments, and BBPS for bill payments. hitch's prepaid card also supports NCMC (National Common Mobility Card) which is an NPCI initiative.
Scale indicators4 records
Recent moves7 records
Expansion highlights6 records
hitch competitors and assessment
Company assessmentDirect peers
- Freecharge (Snapdeal-owned): Freecharge is an Indian digital wallet and prepaid card issuer focused on mobile recharge, bill payments, and cashback rewards — a near-identical value proposition to hitch at a smaller, more established scale.
- MobiKwik: MobiKwik is a listed Indian digital wallet and PPI issuer offering BBPS bill payments, prepaid cards, FASTag, and ZIP (Buy Now Pay Later) credit — closely mirroring hitch's product mix and Tier 2/3 India focus, and appearing as a named M2P ecosystem partner.
Emerging players
- BharatPe: BharatPe is an Indian fintech serving small merchants and MSMEs with payments, lending, and POS solutions — adjacent to hitch's MSME lending focus, though primarily merchant-facing rather than consumer-facing.
- FamPay: FamPay is an Indian fintech targeting teens and young adults with a numberless prepaid card and UPI-based payments app — overlapping with hitch's youth and Tier 2/3 inclusion thesis, though focused on the under-18 segment.
- CRED: CRED is an Indian consumer fintech rewarding credit card bill payments with cashback and offering personal credit — adjacent to hitch's credit-card bill payment and personal loan product lines, though skewed toward higher-income urban users.
- Jupiter (by Zolve): Jupiter is an Indian consumer neobank offering a digital account, bill payments, and personal credit — competing for the same wallet share and lending customer as hitch among digitally-native Indian consumers.
Broad incumbents
- PhonePe: PhonePe is the dominant UPI payments app in India with bill payments, FASTag recharge, and a PPI wallet. It is the most direct competitive threat to hitch in the consumer payments category, though much larger and better funded.
- Paytm (One97 Communications): Paytm is India's largest listed consumer fintech, offering a wallet, BBPS bill payments, FASTag, prepaid cards, and personal loans — the same core product set as hitch, but at vastly greater scale and with a public-market balance sheet.
- Google Pay (India): Google Pay is one of the top UPI apps in India with bill payment and rewards capabilities, competing head-to-head with hitch for consumer payments mindshare, especially in Tier 2/3 markets where Google distribution is strong.
- Amazon Pay: Amazon Pay is the payments arm of Amazon India, offering a wallet, bill payments, and rewards within the Amazon ecosystem — a broad incumbent competing with hitch for the same digital payments use cases, backed by Amazon's balance sheet.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
hitch social profiles
Digital presencehitch financial estimates
Financial estimateRevenue estimate
Valuation estimate
hitch leadership team
Management profileNumber of profiles
Profiles1 record
hitch funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
hitch 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 hitch
What does hitch do?
hitch operates a digital payments platform through a consumer mobile app that consolidates mobile recharge, utility bill payments, FASTag recharge, rent payments, prepaid card services, and personal loans into a single interface. The platform is operated by Kottakota Business Development Pvt. Ltd. under RBI Prepaid Payment Instrument authorization and BBPS certification, serving individual consumers and small merchants across India.
Is hitch a public or private company?
hitch is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was hitch founded?
hitch was founded in 2022. It employs 11 to 50 people.
Where is hitch based?
hitch is headquartered in Bhubaneswar, India, in the Asia region.
How does hitch make money?
Five revenue lines are on record. Cashback & Referral Rewards are the primary driver. The others are platform Fee, platform Deposit Fee, prepaid Card Issuance & Maintenance Fees and personal Loan Processing.
Who are hitch's main competitors?
Direct peers on record are Freecharge (Snapdeal-owned) and MobiKwik. Emerging players are BharatPe, FamPay, CRED and Jupiter (by Zolve). Broad incumbents are PhonePe, Paytm (One97 Communications), Google Pay (India) and Amazon Pay.
Does hitch have an API?
No public API is recorded for hitch.
What industry is hitch in?
hitch's product category is Digital Payments Platform. Its primary akta.pro industry code is FSAMAJAA, Biller Direct EBPP Platforms, with a secondary code of FSAMANAK, Prepaid Card Program Managers & Issuers (BIN Sponsors). Its SIC code is 6141.