PayNearby IPO Plans Spark Exciting Growth Wave in Fintech
Fintech company PayNearby aims to launch an IPO next financial year, leveraging its Distribution-as-a-Service model to expand its services and workforce. Through initiatives like Digital Naari, it empowers rural women, enabling them to earn sustainable incomes while contributing significantly to socio-economic development in their communities.
- Country:
- India
Fintech firm PayNearby has announced plans to launch an initial public offering (IPO) in the coming financial year, targeting growth and expansion. The company's founder, MD, and CEO Anand Kumar Bajaj revealed discussions with three merchant bankers and expects to finalize one soon to proceed with the IPO process, including filing a Draft Red Herring Prospectus with SEBI.
PayNearby reported an impressive gross revenue of Rs 300 crore, earning a profit of Rs 12 crore in FY25. The company's Distribution-as-a-Service (DaaS) model capitalizes on retail stores to offer various services like cash withdrawal and bill payment, projecting a 10 per cent revenue increase this fiscal.
A key initiative, Digital Naari, empowers women in Tier 2 and semi-urban areas by providing digital tools to earn sustainable incomes. The program supports the government's Lakhpati Didi vision, aiming to onboard 20 lakh Digital Pradhans and Digital Naaris within five years, generating significant socio-economic impact.
(With inputs from agencies.)
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