Fintech startup FamApp (formerly FamPay) has made a strong turnaround in FY25, turning profitable with revenue in the range of INR 90–100 Cr, according to Entrackr. The six-year-old startup is in advanced talks to raise USD 15 Mn, primarily as secondary capital, led by Elevation Capital.
As per sources, the round will facilitate the exit of co-founder Kush Taneja and possibly some early investors. Taneja’s departure reportedly stems from ongoing differences with co-founder Sambhav Jain. While the exact terms of his exit remain undisclosed, the secondary sale will largely see existing investors, including Elevation, acquiring his stake.
FamApp last raised USD 38 Mn in its Series A round four years ago, and has secured a total of USD 42.7 Mn from investors such as Elevation Capital, Y Combinator, Peak XV, and angels including Kunal Shah and Amrish Rau.
The funding interest follows a period of financial stability and growth for FamApp. The company ended FY25 with INR 90–100 Cr in revenue and profit before tax of INR 10–12 Cr, a major improvement from FY24 when it posted INR 25 Cr in revenue and sharply reduced losses.
FamApp’s revenue model includes premium services like FamX Ultra (INR 699), ATM withdrawals (INR 29), video KYC (INR 99), autosave (INR 29), and small fees on wallet loads. It also monetises in-app purchases such as skins, game codes, and shopping vouchers tailored for its teen users.
In Q1 FY25, FamApp launched Namaspay, a UPI app for foreign travelers in India, charging a one-time fee of INR 1,650, with 4% loading and 1% withdrawal fees. These channels have performed well and contributed significantly to its profitability.
This turnaround and co-founder transition, according to Entrackr, are likely to be seen as a welcome move by investors, positioning FamApp for its next phase in the evolving fintech ecosystem.
