In the rapidly evolving digital payments landscape of India, It has emerged as a pioneer in the Buy Now, Pay Later (BNPL) space. Founded in 2015 by Nitya Sharma and Chaitra Chidanand, the Bengaluru-based fintech company simplifies online transactions by enabling customers to shop with a single tap and settle their bills later. Positioned as a trust-based payment platform, It not only empowers consumers with flexible credit but also supports merchants by improving checkout conversion rates and fostering customer loyalty. With its vision of making payments “invisible” yet reliable, It has quickly grown into one of India’s most recognized BNPL players, partnering with thousands of merchants across diverse industries.
About –
It is one of India’s earliest and most innovative Buy Now, Pay Later (BNPL) platforms, designed to make payments invisible, seamless, and trust-driven. Founded in 2015 by Nitya Sharma and Chaitra Chidanand, It operates under the philosophy that commerce should feel natural — a handshake between customer and merchant — without unnecessary friction. Headquartered in Bengaluru, India, the company has grown into a digital payments enabler trusted by millions of users and thousands of merchants.
Founders & Leadership
- Nitya Sharma (Co-Founder & CEO): With a career in structured finance and credit risk in the U.S., Nitya brought deep expertise in financial systems and consumer credit. At Simpl, he drives vision, product strategy, and partnerships with merchants.
- Chaitra Chidanand (Co-Founder): With strong roots in product development and fintech innovation, Chaitra played a key role in shaping Simpl’s early technology and customer-centric approach.
Together, they reimagined the age-old “khata” (ledger) system into a digital credit experience for the modern internet shopper.
Unique Features & Product Ecosystem
It is more than just BNPL. Its unique value lies in blending trust with convenience across its product suite:
- 1-Tap Checkout: A single click to complete a transaction, avoiding OTPs and card entries. It replicates the offline “put it on my tab” experience.
- Pay Later (Fortnightly Billing): Aggregates purchases into a single bill every 15 days, giving users breathing space and merchants faster conversions.
- Pay-in-3: Customers can split larger spends into three interest-free installments, widening affordability.
- BillBox: Simpl’s recurring bill management tool, simplifying utility and subscription payments.
- Buyer Protection Guarantee: Adds a trust layer — refunds and dispute resolution mechanisms safeguard users, making merchants more reliable.
Business Model
It earns by charging merchant fees for enabling instant, trusted checkouts and improving conversion rates. For customers, on-time payments are interest-free; however, delayed repayments may incur penalties. This dual-benefit model (higher sales for merchants, flexibility for customers) is what fuels Simpl’s growth.
Funding & Financial Growth
- Raised $40 million Series B in late 2021, led by Valar Ventures and IA Ventures, taking its total funding to about $83 million.
- Revenue grew 176% in FY23 to INR 87.3 crore, though net losses widened to INR 356.6 crore — leading the company to optimize costs and aim for profitability by mid-2025.
- Investors have consistently backed Simpl for its high engagement, merchant stickiness, and mass adoption across India’s internet economy.
Market Presence
- 10M+ registered users who treat Simpl as their “digital khata.”
- 26,000+ merchants onboarded, from household names like Zomato, Myntra, BigBasket, MakeMyTrip to fast-growing D2C brands.
- 49M+ transactions processed, showcasing its scale as a payments infrastructure layer.
- App ratings of 4.5★ on Play Store and 4.6★ on App Store underline customer satisfaction.
Challenges & Strategy
While growth has been robust, It faces challenges around:
- High Operating Costs: Losses have required layoffs and restructuring.
- Regulatory Scrutiny: India’s BNPL sector is under RBI’s evolving guidelines.
- Competition: Rivals like LazyPay, ZestMoney (until recent restructuring), and Paytm Postpaid keep the market competitive.
It is addressing these with sharper focus on unit economics, D2C expansion, fraud prevention, and compliance.
The Road Ahead
Simpl aims to:
- Achieve profitability by mid-2025.
- Expand its reach among smaller merchants and regional D2C brands.
- Evolve into a full-stack trust infrastructure for payments, not just a BNPL app.
- Reinforce its mission of empowering merchants to create trusted relationships with customers.
✨ Simpl is not just a BNPL tool — it is India’s attempt to bring back the simplicity of trust-based commerce into the digital age.
Customer Support
- Email: support@simpl.co
- Phone: +91-XXXXXXXXXX
- Support Hours: Monday – Friday, 9 AM – 6 PM IST
Head Office
- Address: Simpl Technologies Pvt. Ltd.
123 Fintech Street, Mumbai, Maharashtra, India – 400001
Connect With Us
- Twitter: @SimplIndia
- LinkedIn: Simpl Technologies
- Facebook: Simpl India
