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§ Private Profile · Bangalore, India
India's first neobank for teenagers, offers secure money management via UPI and cards, focused on financial literacy.
FamPay has raised $43.0M across 2 funding rounds.
Key people at FamPay.
FamPay was founded in 2019 by Kush Taneja (Founder) and Sambhav Jain (Founder).
FamPay has raised $43.0M in total across 2 funding rounds.
FamPay is a Bengaluru, India-based fintech company that operates a neobanking platform designed specifically for teenagers to manage money through UPI, peer-to-peer transfers, and card payments without requiring a traditional bank account. The freemium application allows parents to send supervised pocket money while providing minors with financial literacy tools and a proprietary numberless payment card. Operating with a team of 24 employees, the company has scaled its consumer base significantly, reaching approximately 10 million registered users by late 2024. The enterprise has secured venture capital backing from prominent institutional investors including Y Combinator, Sequoia Capital India, Elevation Capital, and Global Founders Capital. Recently, the core application transitioned its consumer branding to FamApp by Trio as it continues expanding digital payment infrastructure across the broader Indian market. FamPay was founded in 2019 by Sambhav Jain and Kush Taneja.
Key people at FamPay.
FamPay is India’s first neobank designed exclusively for teenagers, offering a prepaid numberless card (FamCard), UPI payments, and a digital wallet without requiring a traditional bank account. It empowers Gen Z (ages 10–18) with financial independence, digital payments, and financial literacy through gamified education and parental controls. FamPay addresses the underserved teen segment in India’s fintech ecosystem, aiming to build a scalable, asset-light platform with millions of users and plans to expand into investments, insurance, and financial education partnerships by 2025[1][4][5].
Founded in 2019 by Sambhav Jain and Kush Taneja, two young entrepreneurs who identified the lack of financial literacy and banking options for Indian teenagers, FamPay emerged from the insight that money management was a bottleneck for youth decision-making. The founders targeted student leaders as early adopters, leveraging social media and word-of-mouth to rapidly grow their user base. The startup launched India’s first numberless prepaid card for teens in 2020, quickly gaining traction with over 2 million registered users and backing from prominent investors like Sequoia and Elevation Capital[2][3][4][5].
FamPay rides the wave of digital financial inclusion and neobanking tailored to a previously ignored demographic—Indian teenagers. The timing is critical as smartphone penetration among youth increases and traditional banking options remain inaccessible to minors. The startup leverages India’s growing fintech ecosystem and regulatory environment that supports digital payments and UPI. By focusing on financial literacy and early engagement, FamPay is shaping the future consumer base and influencing how financial services adapt to Gen Z’s digital-first expectations[1][4][5].
FamPay is positioned to become the go-to financial platform for Indian teenagers, with plans to expand into micro-investing, insurance, AI-driven budgeting tools, and a marketplace for teen brands. Its growth will be shaped by increasing smartphone adoption, rising demand for financial literacy, and partnerships with educational institutions. As it deepens its reach into Tier II/III cities and explores international markets like the Middle East and Southeast Asia, FamPay’s influence could extend beyond payments to become a lifelong financial companion for India’s youth[1][4][5]. This trajectory aligns with the broader trend of personalized, community-driven fintech solutions for younger generations.
FamPay has raised $43.0M across 2 funding rounds. Most recently, it raised $38.0M Series A in June 2021.
FamPay was founded in 2019 by Kush Taneja (Founder) and Sambhav Jain (Founder).
FamPay has raised $43.0M in total across 2 funding rounds.
FamPay's investors include Mridul Arora, 8-Bit Capital, B Capital Group, Golden Gate Ventures, Pieter Kemps, Peak XV Partners (formerly Sequoia Capital India & SEA), SciFi VC, South Park Commons, The Hit Forge, Venture Highway, Y Combinator, Balaji Srinivasan.
