From Gorakhpur to ₹200 Cr: PayMe’s Fintech Rise
In a fintech space saturated with buzzwords and billion-dollar valuations, Mahesh Shukla took a radically different approach—building a business not from hype, but from human need. Born and raised in Gorakhpur, Mahesh understood the financial challenges of India’s middle class long before he created PayMe, a platform now making waves across the country.
The Frustration That Sparked a Revolution
Armed with a Master’s degree from Jamia Millia Islamia and over 10 years in global banking, Mahesh saw a glaring gap: people who weren’t “creditworthy” on paper were being completely ignored by the lending ecosystem. So in 2016, he made a bold move—he liquidated his own assets to launch PayMe India, a digital lending platform focused on fast, fair, and accessible credit.
By 2022, the company rebranded to PayMe to reflect its global aspirations. But the mission remained unchanged—spread “financial happiness.”
How PayMe Is Redefining Credit Access
PayMe operates on a simple but powerful idea: if someone doesn’t qualify for a loan today, help them qualify tomorrow.
- Instant Loans: Users with strong credit scores can apply and receive disbursals almost instantly through a completely digital process.
- Credit Assist: For those with low or no credit history, PayMe offers personalized guidance to improve their score and eligibility. The platform says “not yet” instead of “no.”
From Gwalior to Bangalore, the platform serves salaried professionals, freelancers, and first-time borrowers with equal attention and empathy.
Funding That Followed Purpose
Mahesh didn’t wait for VC attention to validate his idea. After bootstrapping the early days, angel investors from Singapore and Dubai helped raise $2 million. But the real fuel was his unwavering focus on ethical lending backed by powerful tech.
Tech Transformation as Growth Engine
PayMe ditched outdated systems for a fast, microservices architecture—cutting processing time by 90%. With the integration of Generative AI, it can now underwrite even those with thin credit files—a major breakthrough in Tier-2 and Tier-3 India.
Key Milestones & Achievements
- Recognized as one of India’s Top 30 Emerging Fintech Startups by Inc42
- Crossed 1 million+ monthly active users
- FY24 revenue at ₹111 crore; aiming for ₹160 crore in FY25
- Loan Book expected to hit ₹670 crore in 2025
- Signed a ₹200 crore MoU with the Government of Uttar Pradesh to generate 2,000+ jobs
Challenges That Built Character
Building a tech-first lending platform wasn’t easy. Early fundraising was hard, talent was harder to retain. The toughest blow came with the untimely loss of co-founder Sandeep Singh. But instead of slowing down, the PayMe team turned grief into grit—and kept scaling with purpose.
Advice from Mahesh to Aspiring Founders
- Use real user data: In India, bureau reports can be weak. Use organic inputs like bank statements to make smarter decisions.
- Build feedback loops: PayMe collects mandatory user feedback to improve its systems daily.
- Invest early in infra: Strong infrastructure is your backbone if you want to scale sustainably.
Mission & Vision
- Mission: To make affordable financial services accessible to India’s middle-income and small-town population.
- Vision: To become a globally respected fintech that delivers financial happiness through tech and trust.
Final Word: Trust Is the Real Currency
“India doesn’t just need more credit. It needs clarity.” — Mahesh Shukla
At KaroStartup, we believe PayMe’s story is more than just numbers—it’s proof that ethics, tech, and empathy can build something truly scalable. In an industry full of noise, PayMe stands out by standing for something.
For more startup journeys like this, visit thekarostartup.com.