UPI-based voucher platform CotoPay stepped into the Shark Tank India with founders Aviral Gupta (CEO), Vidit Sidana (CBO), and Syed Uzair Ahmed (CTO), pitching a smarter way for businesses to control how digital money gets spent using India’s existing UPI rails.
At its core, CotoPay is all about bringing control and transparency to vouchers. Instead of handing out prepaid balances with little visibility, companies can issue UPI-linked vouchers that come with clear rules where the money can be spent, how long it’s valid, and full traceability of every transaction.
The founders explained that unlike traditional voucher systems, the money issued through CotoPay doesn’t immediately leave the company’s account. Funds stay within the company ecosystem until the voucher is actually redeemed. Employees or users simply scan a QR code and pay via UPI, while businesses retain full oversight on categories, usage, and spend behavior.
CotoPay kicked off closed user group testing in December 2025 and currently has five pilot users. The startup has already tied up with five banking partners and is initially focusing on SMEs and fleet operators. Its revenue model is straightforward, earning a 0.5% to 0.7% commission on the monthly transaction value processed through the platform.
The product is available via web, iOS, and Android, with key use cases ranging from corporate expense management to loyalty-driven spending programs.
In the Tank, the founders asked for ₹50 lakh for 1% equity, valuing the company at a Rs 50 crore valuation. After discussions, Anupam Mittal and Kunal Bahl came together to seal the deal Rs 75 lakh for 2% equity, plus 1% advisory equity, valuing CotoPay at ₹37.5 crore.
Before Shark Tank, CotoPay had already raised Rs 2.94 crore in 2024, with investors collectively holding 17.8% of the company. Among the founders, Aviral Gupta owns 45%, Vidit Sidana holds 35%, and Syed Uzair Ahmed has 20%.
