A fintech platform is something that enables a financial service through technology, making it faster, easier and accessible to everyone. These fintech platforms can be categorized broadly into lending, insurance, payments and wealth management. However, Yap, is something different. Yap is a platform that enables other fintech platforms to work smoothly. Rather than offering the digital payments themselves, they offer a digital payment infrastructure. Still confused? Think of it this way. Say you are a startup and want to enable a financial service like lending, payments on your platform. One way of doing that would be to approach multiple banks and cut the best deal for you.

Alternatively, you could just find someone like Yap, who have already partnered with 15 banks and all you have to do is connect with the APIs provided by them. Bookishly, Yap is an API infrastructure company enabling businesses to roll out their own branded banking products. A quote from Dirk Van Quaquebeke, managing partner, BEENEXT, who have recently invested in Yap will further clear the air around the purpose of the company,

“I have been actively looking for a “fintech anywhere” Platform Company in India for the past 12 months and I was very pleased when I met Madhu, Muthu and Prabhu and heard about their very unique founding journey.”

The startup offers financial solutions such as issuing gift cards, physical or virtual prepaid cards that its clients can provide to their users. The startup also offers QR code solutions to its clients.

What the Heck is an API?

Remember we promised that no ‘Mr. Sophisticated’ stuff on this blog? We’re stilling living up to that. Therefore, if you are still wondering what in god’s name is an API, here is a quick explainer that would help you know Yap better.

Remember when you were an infant? No you don’t. But I am sure you must have seen a mother interacting with her new born. Which may sound as absolute gibberish to you, makes absolute sense to a mother. She even replies back in the similar language and the conversation is marked as complete.

APIs are something similar but with computers. It is a language which two systems understand to interact with each other. Real world example? Here’s one! You tap on the weather application on your phone and very quickly it shows you the temperature, humidity, chances of rain etc. However, what happens in the backend is a series of steps:

  • Your weather app drafts a message. This message contains your geographical coordinates, time of the day etc.
  • Along with that it sends a passcode. Something that is pre-decided between the weather app and the server.
  • Server receives the message, validates the passcode.
  • Finally, it replies back with all the pretty details that you were looking for.

If you think about this, as a customer you don’t bother about what’s happening in the background. Neither do you have to. So, APIs are these little conversations between two machines, working behind the scenes to make magic happen.

Yap, integrates with various banks and provides these APIs to it’s clients. It is a provider of a plug and play system to it’s users which can now enable financial services on their platform quicker than ever.

How is YAP Doing?

Because a lot of us are hearing about a platform like this for the first time, I wanted to touch upon some numbers and facts that would establish that a service like this highly demanded by the fintech ecosystem, anywhere in the world.

  • YAP has partnered with banks such as Yes Bank, DCB Bank, Equitas SFB, and SBM Bank for the API platform it offers to its clients.
  • Some of the clients which use YAP’s API platform include Ola, Cred, Bank Open, Niyo, Redcarpet, Slice, among others.
  • In 2020, YAP raised a sum of Rs. 10 crore from Cred founder, Kunal Shah and Citrus.
  • Recently, fintech startup YAP has raised $10 million in a Series B funding that was co-led by Flourish Ventures and Omidyar Network India at an undisclosed valuation.
  • YAP currently serves companies in India, Nepal, the United Arab Emirates, Australia, New Zealand and the Philippines. It plans to expand to Bangladesh, Saudi Arabia, Oman, Egypt, Vietnam and Indonesia.


While we are all pumped up when it comes to discussing about consumer facing fintech startups like Zeffo, PayTM etc, we often tend to ignore the B2B side of platforms that power these businesses. The way the likes of Juspay and Razorpay and working behind the scenes to enable seamless transactions for us, so are the platforms like YAP.

Were you aware that anything like this existed?

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Until next time..

This Post is in association with Blogchatter’s #BlochatterA2ZChallenge.

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