Jaipur | Rajshree Upadhyaya | Aviral Gupta, Vidit Sidana and Syed Uzair Ahmad established their identity by launching the fintech startup Cotopay to provide corporate expense management, programmable digital vouchers and business payment solutions. They entered Shark Tank India with an idea that was unfamiliar to many viewers but immediately sparked curiosity among the sharks. Based in Delhi NCR, this fintech startup was launched in October 2025 by Aviral Gupta, Vidit Sidana and Syed Uzair Ahmad with the aim of bringing the ease of UPI to corporate payments. The founders believed that while consumers had adopted seamless digital transactions, businesses were still struggling with cash advances, reimbursement issues and limited control over employee spending. Their solution was a platform built around UPI-linked e-RUPI vouchers, enabling companies to issue digital vouchers that employees could use directly through their existing UPI apps for approved expenses such as fuel, travel and petty cash.
The startup’s strength lay not only in its product but also in the experience of its founders. Aviral Gupta was previously part of the founding team at BharatPe and had worked on initiatives such as CoWIN and the e-RUPI framework with the National Health Authority. Vidit Sidana brought experience from ITC and an MBA from IIM Ahmedabad, while CTO Syed Uzair Ahmad had been associated with major digital infrastructure projects such as Aadhaar and CoWIN. Their combined experience impressed the sharks so much that Anupam Mittal jokingly called them “underachievers,” a remark that quickly became one of the most talked-about moments of the episode. Instead of transferring money to employees in advance, companies can issue vouchers with predefined rules governing where and how the money can be spent. The funds remain in the company’s account until the transaction is completed, giving businesses greater visibility and control. Employees do not need to download any separate application, as the vouchers appear directly in popular UPI apps such as Google Pay and PhonePe, making adoption much easier.
Focus on digitising corporate expenses
The founders appeared in Shark Tank India Season 5, Episode 27, where they sought Rs. 50 lakh in exchange for 1 percent equity, valuing the company at Rs. 50 crore. Their pitch highlighted the shortcomings of traditional expense management and the significant opportunity to digitise corporate spending in India. While some sharks were concerned about the long sales cycles involved in selling to businesses and the possibility of large payment companies entering the space, others saw substantial potential in the model, particularly for logistics companies, SMEs and businesses with distributed workforces.
The discussions that followed were intense. Aman Gupta chose not to invest, expressing concerns about enterprise sales, but Anupam Mittal and Kunal Bahl believed that the startup was solving a genuine problem. After several rounds of negotiations, the founders accepted a joint offer of Rs. 75 lakh for 2 percent equity along with 1 percent advisory equity, valuing the company at Rs. 37.5 crore. The deal not only provided Cotopay with fresh capital but also the support of two experienced entrepreneurs who believed in the future of UPI-based business payments.
Appearance on Shark Tank India increased visibility
As of 2026, Cotopay continues to operate and market its solutions to businesses seeking better ways to manage employee expenses. The company is still in its early stages, but its appearance on Shark Tank India significantly increased its visibility and established it as one of the most innovative fintech startups to emerge from the show. By leveraging India’s e-RUPI infrastructure and rethinking how companies control spending, Cotopay is working towards a future where business payments become as simple and transparent as consumer transactions.
