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The Indian fintech landscape witnessed a significant development as CotoPay, a Delhi NCR based digital payment platform, successfully secured funding on Shark Tank India Season 5. The startup’s innovative approach to business expense management has attracted the attention of two prominent investors, marking a pivotal moment in the evolution of corporate payment solutions in India.
The Investment Deal
CotoPay’s founding team, comprising Aviral Gupta, Vidit Sidana, and Syed Uzair Ahmed, entered the Shark Tank seeking ₹50 lakh in exchange for 1% equity, valuing their venture at ₹50 crores. The pitch resonated strongly with investors Anupam Mittal and Kunal Bahl, who presented a counter proposal of ₹75 lakh for 2% equity along with an additional 1% advisory equity. After careful consideration, the founders accepted this enhanced offer, securing not only greater capital but also valuable strategic guidance from experienced entrepreneurs.
Revolutionizing Corporate Expense Management
CotoPay distinguishes itself as India’s pioneering e-RUPI voucher issuance platform designed specifically for business to business transactions. Since its launch in October 2025, the company has introduced a streamlined solution for managing corporate expenses including petty cash, fuel costs, and employee allowances. The platform leverages the widely adopted UPI infrastructure, enabling seamless integration with existing payment ecosystems that businesses and employees already trust.
The technology behind CotoPay addresses critical pain points in traditional expense management systems. Organizations can issue purpose specific vouchers that employees redeem through their regular UPI applications, eliminating the need for separate corporate cards or reimbursement processes. This approach ensures transparency, reduces administrative burden, and provides real time visibility into spending patterns.
Strategic Positioning and Market Potential
CotoPay enters the market with substantial advantages. The platform has secured institutional funding from investors backing successful startups like Rapido, Jar, and Park+. Furthermore, the company’s partnership with ICICI Bank provides robust banking infrastructure and credibility in the financial services sector.
The market opportunity is considerable, with over 6.5 crore UPI merchants across India capable of accepting CotoPay vouchers. This extensive network ensures that employees can utilize their allocations at virtually any establishment accepting digital payments, from small street vendors to large retail chains.
Co-founder Aviral Gupta brings valuable domain expertise, having previously contributed to the development of e-RUPI technology during his tenure at the National Health Authority and BharatPe. This experience positions CotoPay to navigate regulatory requirements while driving innovation in the corporate payments sector.
The Shark Tank investment validates CotoPay’s business model and accelerates its mission to digitize business expense management across Indian enterprises.
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