From left to right: Piuesh Daga, COO, White Matter Advisory; Kranthi Reddy, CCO, White Matter Advisory; Bhaskar Saravana, CEO, White Matter Advisory; Saurabh Jain, CBO, White Matter Advisory
After completing the prestigious FinBlue incubation, White Matter Advisory’s Xchange.pe prepares to scale its tech-enabled payment solutions across Tier 1 and Tier 2 cities
Chennai, 11th July 2025: White Matter Advisory India Pvt. Ltd. (WMA), a fintech company focused on cross-border payments through its platform Xchange.pe, has successfully completed the FinBlue incubation program by the Software Technology Parks of India (STPI), under the Ministry of Electronics and Information Technology (MeitY), Government of India.
FinBlue, headquartered in Chennai, is a Centre of Entrepreneurship (CoE) designed to support early-stage fintech startups. The program offers access to funding, expert mentorship, regulatory sandboxes, and deep industry connections. Since its inception, FinBlue has incubated over 60 startups, accelerating innovation across digital payments, lending, RegTech, wealth tech, and beyond.
Xchange.pe was selected for FinBlue with the mission of bridging the gap between traditional banking and data-driven cross-border payment solutions. During the program, the company benefited from technical mentorship, regulatory feedback, sandbox testing, and investor exposure—enhancing its market fit and scalability.
“FinBlue gave us an ecosystem where we could test, learn, and grow,” said Kranthi Reddy, Co-founder, White Matter Advisory. “The exposure to real-world financial institutions and regulatory frameworks helped us fine-tune our product and sharpen our value proposition.”
With a validated product and sharpened go-to-market strategy, Xchange.pe is now entering its next phase of growth. The company aims to:
Expand its services across Tier 1 and Tier 2 cities
Deepen partnerships with service and goods exporters, freelancers, STPI-registered units, CA/CS professionals, law firms, and consulting agencies
With a strong foundation built through the FinBlue program, WMA’s Xchange.pe is poised to play a transformative role in India’s digital financial ecosystem.
About Software Technology Parks of India (STPI):
STPI is a premier government organization under MeitY committed to promoting India’s IT and startup ecosystem. Through its 24+ domain-specific Centres of Entrepreneurship, including FinBlue, STPI advances innovation in emerging tech sectors aligned with Digital India, Startup India, and Viksit Bharat 2047.
About FinBlue:
FinBlue is a fintech-focused Centre of Entrepreneurship by STPI, aimed at supporting early-stage fintech startups through mentorship, funding access, regulatory sandboxes, and go-to-market support.