Fintech Paramotor Digital Technology gets Sebi nod for IPO

Paramotor Digital Technology, a fintech and enterprise technology company, has received approval from Sebi for its IPO. The company had filed its draft papers with Sebi through the confidential pre-filing route on May 17.

Founded in 2016, Paramotor Digital Technology operates across consumer spend management, rewards and loyalty solutions, digital gifting and enterprise technology services. The company is led by Executive Chairperson Sonia Asher and Managing Director Rahul Anand, who have experience across banking, payments and information technology.

Paramotor’s business is spread across four main platforms. SpendPro is its prepaid card-based spend management platform. RewardOn provides enterprise rewards and loyalty management solutions. yayyy.shop is its direct-to-consumer digital gifting marketplace. DevStack is the company’s enterprise technology and software development services vertical.


The yayyy.shop platform allows consumers to access prepaid cards and branded gift cards across categories, giving Paramotor a presence in digital gifting and consumer commerce.

RewardOn helps companies design and manage digital rewards programmes. The platform can be used for employee engagement, customer loyalty and channel incentive programmes.

DevStack supports companies in building customised software applications and enterprise platforms. The vertical gives Paramotor exposure to business process digitisation and enterprise technology spending.

The company’s IPO comes at a time when investors have shown interest in scalable technology-led businesses, especially those with exposure to payments, rewards, enterprise software and digital commerce.

Paramotor’s diversified model also gives it multiple revenue pools across consumers and businesses. Its business cuts across prepaid products, loyalty management, gifting and software services, areas that have seen growing adoption as companies and consumers move more transactions online.