OTPless: Funding, Team & Investors

About

OTPless provides an authentication platform that enables passwordless and OTP-less user logins, simplifying the sign-in process for applications and websites. Its core product allows one-tap user verification, often leveraging existing communication channels like WhatsApp. This technology is designed to enhance user experience, boost conversion rates, and bolster security by mitigating common authentication pain points like OTP delays and password fatigue.

The company was founded in 2021 by Tanmay Sagar and Satyam Nathani. Both founders brought prior experience from BharatPe, a notable fintech firm, where they observed firsthand the friction and user drop-offs associated with traditional authentication methods. Their insight centered on the need for a seamless, secure, and instant login solution that could bypass cumbersome passwords and one-time passcodes, leading to the development of OTPless.

OTPless serves businesses looking to streamline their user onboarding and login experiences, providing a more efficient authentication flow for their customers. The company envisions a future where user access is effortless and highly secure, aiming to eliminate authentication barriers that hinder user engagement and conversion. Its long-term goal is to set a new standard for user verification that prioritizes both convenience and robust security measures.

Financial History

OTPless has raised $6.5M across 2 funding rounds. Most recently, it raised $3.5M Pre-Series A in May 2024.

Total Raised

$6.5M

Valuation

N/A

Funding Rounds Raised

Date	Round	Lead Investors	Other Investors
May 20, 2024	$3.5M Pre-Series A	SIDBI	FJ Labs, Piper Serica, Venture Highway
May 1, 2023	$3.0M Seed		AngelList, DSG Consumer Partners, Fireside Ventures, FJ Labs, Galaxy Digital, Kima Ventures, Lakestar, LGF, Pareto Holdings, SoftBank Investment Advisers, Venture Highway, Kunal Shah

Date

Round

Lead Investors

Other Investors

May 20, 2024

$3.5M Pre-Series A

SIDBI

FJ Labs, Piper Serica, Venture Highway

May 1, 2023

$3.0M Seed

AngelList, DSG Consumer Partners, Fireside Ventures, FJ Labs, Galaxy Digital, Kima Ventures, Lakestar, LGF, Pareto Holdings, SoftBank Investment Advisers, Venture Highway, Kunal Shah

Deep Dive

OTPless is a startup that provides a developer-focused, passwordless authentication platform — offering WhatsApp, SMS, email, biometrics, social and silent network sign‑in methods to replace OTPs and passwords and improve conversion and security[5][6].[2]

High-Level Overview

Mission: OTPless aims to eliminate traditional one‑time passwords (OTPs) and passwords by delivering seamless, secure, and high‑conversion authentication for digital products[2][6].[5]- Investment philosophy: (Not applicable — OTPless is a portfolio company / product company; it has raised venture funding rather than operating as an investment firm)[2].- Key sectors: Identity & Access Management (IAM), cybersecurity, developer tooling, fintech and consumer apps that require high conversion on sign‑up and sign‑in[5][2].- Impact on the startup ecosystem: OTPless lowers friction for developers to ship secure auth quickly via SDKs and plugins, which can increase conversion rates and reduce engineering time spent on building and maintaining auth flows — reportedly used by thousands of companies and tens of thousands of developers with millions of authenticated users[2][3][5].[6]

For the product/company angle:

What product it builds: A passwordless authentication platform and SDKs/APIs supporting WhatsApp auth, SMS, email magic links, biometric passkeys, silent telecom‑network auth, and social logins, plus a dashboard for user/session management[5][6].- Who it serves: Developers and product teams at startups and enterprises (including fintech/BFSI customers) seeking to simplify login flows and boost conversion[2][5].- What problem it solves: Removes dependence on insecure or frictional OTPs/passwords, reduces failed logins and cart abandonment due to cumbersome auth, and provides higher conversion and easier global scale for authentication[2][6].- Growth momentum: OTPless raised a seed / early round (reported $3.5M in May 2024) and cites usage metrics such as 5,000+ companies, 20,000 developers, and 30M+ authenticated users in press reporting and company materials, with digital claims of high conversion (up to ~98%)[2][5][3].[4]

Origin Story

Founding year and funding: OTPless was founded in 2021 and completed notable fundraising in 2024, including a round reported at $3.5M led by SIDBI Ventures / SVCL (press coverage) and other disclosed seed funding bringing totals reported by some databases to $6.2M+ overall[4][2].[1]- Founders and background: Public reporting names Bhavik Koladiya as co‑founder and CEO and cites a Surat, India base; company bios and interviews indicate a developer‑centric founding team with experience in mobile and authentication engineering (company materials and press)[2][5].- How the idea emerged: The company was founded to address the usability and security shortcomings of SMS OTPs and passwords by leveraging modern channels (WhatsApp, silent telecom signals, passkeys) and developer‑friendly SDKs to make auth both easier and more secure[6][2].- Early traction/pivotal moments: Early traction included rapid developer adoption, large reported conversion lifts, and the 2024 funding round led by SIDBI Ventures that aimed to accelerate global scale and expand into authorization alongside authentication[2][3].

Core Differentiators

Channel breadth: Supports multiple modern channels (WhatsApp sign‑in, silent telecom network auth, SMS, email magic links, biometric passkeys, and social logins) enabling flexible, context‑aware authentication[5][6].- Developer experience: SDKs, plugins (WordPress, Shopify, Magento), and documentation designed for quick integration (company claims integrations in days or weeks)[6][5].- Conversion and UX focus: Emphasizes a “Smart Auth” approach and claims industry‑leading conversion metrics (company cites up to 98% conversion and faster, auto‑read flows)[2][5].- Global & telecom integrations: Offers telecom network (silent) authentication and WhatsApp flows intended to work over Wi‑Fi without user switching apps, which addresses mobile UX limitations common in emerging markets[5].- Product roadmap toward authorization: Public statements indicate a move beyond authentication toward authorization and broader identity/access management features after initial traction[2].- Lightweight ops and pricing: Positioned as usage‑based and scalable for small teams and enterprises, per company and business‑directory profiles[3][5].

Role in the Broader Tech Landscape

Trend alignment: OTPless rides the passwordless and passkey trend in IAM and the broader push for frictionless, secure UX in consumer and fintech apps[6][2].- Timing: Growth of messaging platforms (WhatsApp), rising regulatory/security pressure in fintech/BFSI, and developer demand for turnkey auth solutions create strong tailwinds for multi‑channel passwordless providers[2][5].- Market forces: Increased fraud attempts on SMS OTPs, stricter privacy/security expectations, and the need for better mobile UX favor solutions that avoid SMS OTP fragility and provide device‑bound biometrics or network‑level verification[6][2].- Influence: By packaging multi‑channel auth and easy SDKs, OTPless can reduce engineering overhead for startups and accelerate adoption of passwordless patterns, particularly in regions where WhatsApp and telecom signals are dominant authentication vectors[5][2].

Quick Take & Future Outlook

Near term: Expect OTPless to focus on scaling global operations, expanding authorization features, deepening telecom and messaging integrations, and growing enterprise customers in fintech/BFSI following the 2024 funding[2][5].- Medium term trends that will shape them: Wider adoption of passkeys and platform‑level biometric standards, regulatory scrutiny of messaging channels, and competition from established IAM vendors and other passwordless startups will shape product and go‑to‑market choices[6][1].- Risks and opportunities: Opportunity in emerging markets and mobile‑first user bases where WhatsApp and telecom signals are pervasive; risk from incumbents (e.g., large IAM vendors) and from the rapid evolution of standards (WebAuthn/passkeys) requiring continuous product alignment[1][6].- How their influence may evolve: If they deliver on authorization and enterprise compliance while maintaining developer simplicity, OTPless could become a preferred auth layer for mobile and regional use cases; failing that, they may be acquired by larger IAM or messaging players[2][5].

Quick take: OTPless is a rapidly scaling, India‑founded passwordless authentication startup that differentiates through multi‑channel, developer‑friendly SDKs (notably WhatsApp and silent telecom auth) and is positioning itself to expand into authorization and broader IAM — its success will hinge on executing enterprise readiness, standards alignment, and competition versus larger IAM vendors[2][5][6].

Sources: company website and docs[5][6], news coverage of funding and metrics[2], business directories and company profiles[3][4][1].

Frequently Asked Questions

How much funding has OTPless raised?

OTPless has raised $6.5M in total across 2 funding rounds.

Who are OTPless's investors?

OTPless's investors include SIDBI, FJ Labs, Piper Serica, Venture Highway, AngelList, DSG Consumer Partners, Fireside Ventures, Galaxy Digital, Kima Ventures, Lakestar, LGF, Pareto Holdings.

Deep Dive

High-Level Overview

Mission: OTPless aims to eliminate traditional one‑time passwords (OTPs) and passwords by delivering seamless, secure, and high‑conversion authentication for digital products[2][6].[5]- Investment philosophy: (Not applicable — OTPless is a portfolio company / product company; it has raised venture funding rather than operating as an investment firm)[2].- Key sectors: Identity & Access Management (IAM), cybersecurity, developer tooling, fintech and consumer apps that require high conversion on sign‑up and sign‑in[5][2].- Impact on the startup ecosystem: OTPless lowers friction for developers to ship secure auth quickly via SDKs and plugins, which can increase conversion rates and reduce engineering time spent on building and maintaining auth flows — reportedly used by thousands of companies and tens of thousands of developers with millions of authenticated users[2][3][5].[6]

For the product/company angle:

What product it builds: A passwordless authentication platform and SDKs/APIs supporting WhatsApp auth, SMS, email magic links, biometric passkeys, silent telecom‑network auth, and social logins, plus a dashboard for user/session management[5][6].- Who it serves: Developers and product teams at startups and enterprises (including fintech/BFSI customers) seeking to simplify login flows and boost conversion[2][5].- What problem it solves: Removes dependence on insecure or frictional OTPs/passwords, reduces failed logins and cart abandonment due to cumbersome auth, and provides higher conversion and easier global scale for authentication[2][6].- Growth momentum: OTPless raised a seed / early round (reported $3.5M in May 2024) and cites usage metrics such as 5,000+ companies, 20,000 developers, and 30M+ authenticated users in press reporting and company materials, with digital claims of high conversion (up to ~98%)[2][5][3].[4]

Origin Story

Founding year and funding: OTPless was founded in 2021 and completed notable fundraising in 2024, including a round reported at $3.5M led by SIDBI Ventures / SVCL (press coverage) and other disclosed seed funding bringing totals reported by some databases to $6.2M+ overall[4][2].[1]- Founders and background: Public reporting names Bhavik Koladiya as co‑founder and CEO and cites a Surat, India base; company bios and interviews indicate a developer‑centric founding team with experience in mobile and authentication engineering (company materials and press)[2][5].- How the idea emerged: The company was founded to address the usability and security shortcomings of SMS OTPs and passwords by leveraging modern channels (WhatsApp, silent telecom signals, passkeys) and developer‑friendly SDKs to make auth both easier and more secure[6][2].- Early traction/pivotal moments: Early traction included rapid developer adoption, large reported conversion lifts, and the 2024 funding round led by SIDBI Ventures that aimed to accelerate global scale and expand into authorization alongside authentication[2][3].

Core Differentiators

Channel breadth: Supports multiple modern channels (WhatsApp sign‑in, silent telecom network auth, SMS, email magic links, biometric passkeys, and social logins) enabling flexible, context‑aware authentication[5][6].- Developer experience: SDKs, plugins (WordPress, Shopify, Magento), and documentation designed for quick integration (company claims integrations in days or weeks)[6][5].- Conversion and UX focus: Emphasizes a “Smart Auth” approach and claims industry‑leading conversion metrics (company cites up to 98% conversion and faster, auto‑read flows)[2][5].- Global & telecom integrations: Offers telecom network (silent) authentication and WhatsApp flows intended to work over Wi‑Fi without user switching apps, which addresses mobile UX limitations common in emerging markets[5].- Product roadmap toward authorization: Public statements indicate a move beyond authentication toward authorization and broader identity/access management features after initial traction[2].- Lightweight ops and pricing: Positioned as usage‑based and scalable for small teams and enterprises, per company and business‑directory profiles[3][5].

Role in the Broader Tech Landscape

Trend alignment: OTPless rides the passwordless and passkey trend in IAM and the broader push for frictionless, secure UX in consumer and fintech apps[6][2].- Timing: Growth of messaging platforms (WhatsApp), rising regulatory/security pressure in fintech/BFSI, and developer demand for turnkey auth solutions create strong tailwinds for multi‑channel passwordless providers[2][5].- Market forces: Increased fraud attempts on SMS OTPs, stricter privacy/security expectations, and the need for better mobile UX favor solutions that avoid SMS OTP fragility and provide device‑bound biometrics or network‑level verification[6][2].- Influence: By packaging multi‑channel auth and easy SDKs, OTPless can reduce engineering overhead for startups and accelerate adoption of passwordless patterns, particularly in regions where WhatsApp and telecom signals are dominant authentication vectors[5][2].

Quick Take & Future Outlook

Near term: Expect OTPless to focus on scaling global operations, expanding authorization features, deepening telecom and messaging integrations, and growing enterprise customers in fintech/BFSI following the 2024 funding[2][5].- Medium term trends that will shape them: Wider adoption of passkeys and platform‑level biometric standards, regulatory scrutiny of messaging channels, and competition from established IAM vendors and other passwordless startups will shape product and go‑to‑market choices[6][1].- Risks and opportunities: Opportunity in emerging markets and mobile‑first user bases where WhatsApp and telecom signals are pervasive; risk from incumbents (e.g., large IAM vendors) and from the rapid evolution of standards (WebAuthn/passkeys) requiring continuous product alignment[1][6].- How their influence may evolve: If they deliver on authorization and enterprise compliance while maintaining developer simplicity, OTPless could become a preferred auth layer for mobile and regional use cases; failing that, they may be acquired by larger IAM or messaging players[2][5].

Sources: company website and docs[5][6], news coverage of funding and metrics[2], business directories and company profiles[3][4][1].

OTPless

About

Recent News & Mentions

Financial History

Funding Rounds Raised

Financial History

Deep Dive

Sources

Frequently Asked Questions

Frequently Asked Questions

Recent News & Mentions

Frequently Asked Questions

Deep Dive

Sources

Financial History

Funding Rounds Raised