# CheqUPI

**Source:** https://geo.sig.ai/brands/chequpi  
**Vertical:** Finance  
**Subcategory:** General  
**Tier:** Emerging  
**Website:** chequpi.com  
**Last Updated:** 2026-04-14

## Summary

India's first UPI wallet for foreign nationals visiting India; $10.8M raised enabling international visitors to pay at 55M+ merchants without an Indian bank account.

## Company Overview

CheqUPI is a Bengaluru-based fintech company operating India's first UPI (Unified Payments Interface)-enabled digital wallet specifically designed for foreign nationals, Non-Resident Indians (NRIs), and Overseas Citizens of India (OCIs) visiting or residing in India — enabling international visitors to pay at 55 million+ registered UPI merchants in India without needing an Indian bank account or phone number. Founded in 2021 and a Y Combinator S23 graduate, CheqUPI raised $10.8 million across three funding rounds, serving an estimated 50,000 travelers annually in a market valued at $652 million.\n\nCheqUPI's solution addresses a significant gap in India's digital payments ecosystem: UPI is ubiquitous across India (replacing cash and cards at most merchants) but requires an Indian bank account linked to an Indian phone number — making it inaccessible to the millions of international visitors and Indian diaspora who travel to India annually. CheqUPI provides a wallet that foreign nationals load with money (via international card or transfer), links to UPI, and works at any QR code payment point across the country. This eliminates the cash exchange and card-not-present limitations that international visitors previously faced.\n\nIn 2025, CheqUPI operates in the cross-border payments and travel fintech market for India visitors. The platform competes with international cards (high forex fees), Western Union, and other payment options for foreign visitors in India for UPI access. The Reserve Bank of India (RBI) has been gradually expanding UPI access for international visitors — a positive regulatory tailwind for CheqUPI's market. India received 9+ million international tourist arrivals in 2024, plus millions of NRI/OCI visits from the Indian diaspora abroad, creating substantial demand for seamless digital payment access. The 2025 strategy focuses on growing adoption among travel booking platforms (airlines, OTAs), expanding the wallet loading options for more international currencies, and building B2B corporate travel partnerships for companies sending employees to India.

## Frequently Asked Questions

### What is CheqUPI?
CheqUPI is India's first UPI wallet designed specifically for foreign nationals, NRIs, and OCIs. Founded in 2021 and based in Bengaluru, the fintech company enables secure digital transactions at over 55 million registered merchants across India.

### What products and services does CheqUPI offer?
CheqUPI offers a digital UPI wallet that enables foreign nationals, NRIs, and OCIs to make secure transactions at 55M+ registered merchants throughout India. The wallet provides seamless payment capabilities with an initial transaction limit of INR 50K in the first 24-72 hours.

### Who can use CheqUPI?
CheqUPI is designed for foreign nationals visiting India, Non-Resident Indians (NRIs), and Overseas Citizens of India (OCIs). The company expects to serve 50,000 travellers in FY2024.

### When was CheqUPI founded and who are the founders?
CheqUPI was founded in 2021 by Sudhanshu Shekhar and Manish Shukla. The company participated in Y Combinator's S23 batch in 2023.

### Where is CheqUPI located?
CheqUPI is based in Bengaluru, Karnataka, India. The company currently has 15 employees at this location.

### How much funding has CheqUPI raised?
CheqUPI has raised $10.8M in total funding over 3 rounds. The most recent was a $500K pre-seed round in August 2023, led by Y Combinator Accelerator along with AngelList and 3one4 Capital.

### What is CheqUPI's current valuation?
CheqUPI has achieved a valuation of ₹70.8 Crore. The company operates with a team of 15 employees in Bengaluru.

### What is the market opportunity for CheqUPI?
CheqUPI operates in a $652M market opportunity, which represents 80% recovery to pre-pandemic levels. The company expects to serve 50,000 travellers in FY2024.

### How does CheqUPI's technology work?
CheqUPI provides a digital wallet that integrates with India's UPI (Unified Payments Interface) system, enabling users to transact at 55M+ registered merchants. The wallet has an initial transaction limit of INR 50K during the first 24-72 hours of use.

### What recent developments has CheqUPI announced?
CheqUPI recently completed a $500K pre-seed funding round in August 2023 led by Y Combinator, AngelList, and 3one4 Capital. The company participated in Y Combinator's S23 batch and continues to expand its services to foreign nationals and NRIs.

## Tags

b2c, fintech, payment-processing, asia-pacific, startup, mobile-first

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*