Volopay

Assessment

Volopay is used by growing companies in Singapore and across Asia Pacific that want to replace several bank accounts and tools. It issues physical and virtual corporate cards, opens a global business account with multi-currency payments, pays vendors, handles employee reimbursements, and manages subscriptions and procure-to-pay. Plans come with unlimited users, multi-level approvals of up to five levels, and accounting links to QuickBooks, Xero, and NetSuite. Domestic transfers cost nothing and international transfers carry a low fee, while accounts payable is priced with sales. Its main competitors are Weel, Pleo, Soldo, and Alaan.

The company was founded in 2019 by Rajith Shaji and Rajesh Raikwar, who worked at the same company, and it went through the Antler program and then Y Combinator in 2020. It describes its goal as becoming the go-to financial partner for businesses in the region. Payment services for US customers are provided by Airwallex US. It has offices in Singapore and Bangalore and about 130 employees.

It fits a mid-sized Asia Pacific business that wants card, account, and bill pay from one vendor. It is a weaker fit for a company that wants posted pricing for every module, or one that needs a deep procurement suite.

Rating by criterion

We score each of the eight criteria out of 100.

Sector criteria

Vendor criteria

Against its peers

These are the other companies in business banking and treasury, with their ratings.

User comments

These buyer-oriented points draw on Volopay’s pricing and product pages and on coverage of its founding.

• Upside

  “We moved cards, vendor payments, and a multi-currency account to one login, which cut the number of bank portals we use.”

• Upside

  “Domestic transfers carry no fee, so our regular supplier runs got cheaper.”

• Downside

  “Accounts payable is quoted by sales, so we could not price that module from the website.”

Where customer reviews couldn't be found, our analysts attempted to give a voice to buyer sentiment, drawing on real information from review sites, forums and product documentation. We omit sites where vendors pay to be featured or pay for a review, plus any review the site flags as incentivized.

Based on: Volopay pricing; Volopay about page; TechCrunch, 2020.

Fact file

Competitive landscape

Spend management platforms an Asia Pacific business would compare with Volopay.

• Volopay74
• Soldo82
• Payhawk81
• Pleo79
• Alaan78
• Weel76

Comparisons

• Volopay vs Weel: Features, Coverage and Pricing Compared (2026)

Key leadership

• Rajith Shaji

Rajith Shaji founded Volopay in 2019 and is chief executive. He earlier ran a web agency in Bangalore and worked at fintech companies in Bangalore, Hong Kong, and Singapore.

How this review was created

This profile gives our own assessment of Volopay to companies selecting a Business banking & treasury provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Volopay gave us no payment for the profile.

The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.

Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, public reviews and filings. Fact-checking took place on November 11, 2026.