EnKash, one of the largest and fastest-growing all-in-one Spends Management and Corporate Cards Companies, has been recognized at the FinTech Festival India 2022 for its Card Issuance API Suite, ‘CardX’ under the category “Best White Label Technology Provider”. EnKash launched its flagship product ‘CardX’ in June 2022, to enable Non-Fintech/Fintech companies and Banks/NBFCs to issue their own Card/Wallet/Reward programs. The award-winning low-code API Suite comes with “plug-and-play” integration that facilitates hassle-free issuance and management of banking products. The award was received by EnKash’s senior officials in the presence of dignitaries and representatives of the Fintech industry.
Hosted at Pragati Maidan, New Delhi on 20th July 2022 in association with Niti Aayog, the FinTech Festival India is one of the biggest Fintech events, aimed towards creating an ecosystem to support and grow the Fintech community in the country. It is poised to be the most prestigious and sought-after award for Fintech sector companies. The event was illuminated by the industry leaders from leading brands and various unicorns in the country.
Commenting on the recognition, Naveen Bindal, Co-founder, EnKash said, “CardX is a breakthrough innovation for companies that want to integrate Banking-as-a-Service on their platforms, and we are honored to be recognized for the same. The product is an output of EnKash and its innovation team’s extensive experience in the “Card and Payments” ecosystem. We envisage Cards and Payments becoming an extended arm of every industry through embedded finance, helping industry players drive higher engagement and create alternate source of revenue. CardX will also help companies use a customizable API to develop their own Fintech product lines.”
With CardX, EnKash aims to become the preferred partner for companies & financial institutions including banks, that are willing to launch their own financial offerings, either as their main product or as an additional product line. Its key target segments include Banks, NBFCs, Fintechs, Consumer Internet companies, Retail Chains & other consumer facing industries. The brand is eyeing 10 key partnerships in India, US and UK by the end of this year, to further bolster its market presence.
EnKash is India’s first Spend Management and Cards platform that became operational in the year 2018. Since its launch, EnKash has helped over 1,00,000 businesses to digitize and decentralize their corporate payments. Over a period of 4 years, the brand has issued more than 6,00,000 Corporate Cards. EnKash has been a highly capital-efficient company. It had raised only $3 Million in a Series A round from Mayfield India and Axilor Ventures in April 2019, and showcased stupendous growth with its annual revenue over $15 Million. The Fintech Start-up has so far raised a total of USD 23 Million after recently bagging USD 20 Million in a Series-B funding round.