In a world that’s rapidly moving toward digital transformation, Avensprint Technologies Pvt. Ltd. has emerged as one of India’s most trusted names in transit and digital payment solutions. As the nation’s leading FASTag end-to-end solution provider for acquirer banks, Avensprint has been redefining mobility experiences for over eight years — ensuring that every journey across India’s roads is faster, smoother, and smarter. Recognized by NPCI and IHMCL under NHAI and the Government of Maharashtra, the company stands at the intersection of technology, trust, and transformation.
Led by Nagaraj B. Shetty, Managing Director and CEO, Avensprint has managed more than 350 prestigious projects, partnered with multiple banks including IDBI Bank, Yes Bank, Airtel Payments Bank, Equitas Small Finance Bank, and ICICI Bank, and earned nine awards for its pioneering contributions.
Avensprint was the first in India to introduce a FASTag-driven parking fee collection system in collaboration with NPCI — a milestone that set the company apart as an innovator in cashless, connected transport infrastructure. Today, it offers a range of smart payment solutions including POS, QR payments, payment gateways, and digital transaction systems designed to empower India’s fintech ecosystem.
A Journey Fueled by Vision and Purpose
For Nagaraj B. Shetty, the journey into Avensprint Technologies was guided by a blend of passion, opportunity, and shared vision. With over two decades of experience across HSBC, JP Morgan, and RBL Bank, he brought with him a rare ability to identify opportunities, drive operational excellence, and build organizations around his guiding principle of the “3 P’s” — People, Process, and Policy
Reflecting on his decision to lead Avensprint, Mr. Shetty shares, “What truly captivated me about this opportunity wasn’t just the company’s innovative NETC technology or its position in India’s digital payments ecosystem—it was the remarkable vision and values embodied by the Steel Mont Group leadership.”
After his successful exit from a prior venture, he saw in Avensprint not just another business opportunity, but a mission — one aligned with the humanitarian and excellence-driven ethos of the Steel Mont Group and its philanthropist founder, Shri Rajesh Saraiya.
“This journey with Avensprint isn’t just about business growth—it’s about creating meaningful impact that reduces congestion, improves efficiency, and drives sustainability across India’s transportation ecosystem,” he adds.
Turning Challenges into Catalysts for Transformation
For Mr. Shetty, every obstacle is an opportunity in disguise. “The greatest obstacle to achieving success often lies within oneself,” he says. “Without self-belief, discipline, and continuous personal involvement, even the best strategies remain unrealized.” When he took over Avensprint following its acquisition by Steel Mont Group, the company faced skepticism from banks, government bodies, and regulators due to legacy issues from the past.
The process of rebuilding trust emerged as his main priority. He solved this issue by making everything transparent while holding himself accountable and by directly interacting with all stakeholders to hear their concerns and gain back their trust. The company underwent a complete transformation under his guidance by bringing server management in-house and enhancing platform development and streamlining personnel distribution. The company now operates as a rejuvenated, future-ready organization, widely respected for its reliability and integrity
The Avensprint Advantage: Redefining Excellence
Avensprint stands apart through its multibank live integration, full-stack FASTag implementation, and the widest use-case coverage beyond tolling — including EV charging, parking systems, state entry taxes, and fuel management. The company’s edge lies in being the only TSP in India to have live operational integrations with multiple acquiring banks, offering unmatched flexibility and scalability. The BFSI Award (2021) for best open source FASTag Platform, FinTech Award (2022) for FASTag Parking Payments and FinTech Innovators Award (2023) for multimodal FASTag collection won by Avensprint demonstrate its ongoing role in developing India’s digital transit system.
The Steel Mont Group (Germany) invested in Avensprint through 2024 strategic funding which enabled the company to access worldwide capital markets, modern technologies and market growth opportunities. The company’s approach — a seamless blend of innovation, operational depth, and ethical governance — makes Avensprint a name synonymous with dependability
Marketing with Meaning and Authenticity Avensprint’s brand philosophy is rooted in authenticity rather than advertising. “We let our achievements and client satisfaction speak for us,” says Mr. Shetty. The company achieves visibility through its thought leadership, whitepapers, government collaborations, and industry partnerships, not promotional noise. The marketing approach of the company emphasizes building enduring value through innovative approaches that establish trust with customers. Every communication reinforces the brand’s core promise — Speed, Trust, and Resilience — while highlighting its contributions to India’s digital payments and mobility infrastructure.
Empowering Clients, Elevating Experiences
Avensprint’s clients includes banks and toll operators to government bodies and mobility partners, each with unique challenges. The company helps them navigate complex regulatory landscapes, ensure seamless settlements, and achieve compliance with ease. Its end-to-end reconciliation systems guarantee timely settlements even on weekends, and its 3 P’s strategy makes all processes ready for audit inspections. Through its commitment to transparency and proactive adaptation and reliability Avensprint enables its clients to expand their operations with assurance.
Innovation That Inspires Change
For Avensprint, innovation is not just a buzzword — it’s a way of life. The company has played a vital role in advancing RFID, ANPR, GNSS-MLFF tolling, AI, ML, and IoT-based solutions for smarter, frictionless travel. From satellite-based tolling to AI-powered fraud detection and real-time analytics, Avensprint continues to push the boundaries of what’s possible in mobility technology. “Our next frontier is true frictionless mobility,” Mr. Shetty explains. “We envision a future where drivers don’t think about paying tolls, parking, or charging an electric vehicle — their vehicle’s digital identity handles it all seamlessly in the background.” This vision drives Avensprint’s transformation from a FASTag service provider to a full-fledged smart mobility enabler, contributing to India’s evolution into a digitally empowered, sustainable nation.
People at the Heart of Progress
At Avensprint, teamwork is more than collaboration — it’s the foundation of success. “Together Everyone Achieves More” is not a slogan, but a way of life. The company’s work culture promotes trust, inclusivity, and transparency, ensuring every team member feels valued and empowered. Mr. Shetty dedicates time to build employee relationships while supporting their professional development and creating an environment where staff members can feel part of the team. “People often say that being part of Avensprint feels like belonging to a family,” he smiles, “and that’s our greatest strength.”
Mission, Vision, and the Road Ahead
Avensprint’s vision is to be India’s most trusted and innovative leader in transit and digital payments — delivering seamless mobility and financial inclusion with speed, trust, and resilience. Its mission is to advance secure, uninterrupted payment solutions powered by technology and passion. Looking ahead, Mr. Shetty envisions capturing 40% of India’s tolling market by 2027, implementing MLFF technology at 250 plazas, launching 20,000 fuel payment locations, and introducing digital wallets and fleet management solutions nationwide.
“Our journey is about excellence, trust, and raising the bar for what’s possible,” he says. “We’re not just moving vehicles — we’re moving India forward.”
A Word for Aspiring Entrepreneurs
Mr. Shetty’s advice carries both humility and depth: “Build your organization with sincere dedication and patience, but always remember that true quality must precede profit. Let your work become your legacy, and your excellence will speak louder than ambition.
” Quoting the Bhagavad Gita, he concludes: “You have the right to perform your duties, but not to the fruits of your actions.”
Or in Hindi: कर्मण्येवाधिकारस्ते मा फलेषु कदाचन । मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥
For Avensprint Technologies, that philosophy defines its journey — a story of purpose, perseverance, and progress.
Frequently Asked Questions
1. What is Avensprint Technologies Pvt. Ltd.?
Avensprint Technologies is one of India’s most trusted companies specializing in transit and digital payment solutions. It is a leading FASTag end-to-end solution provider for acquirer banks and mobility operators.
2. How long has Avensprint been in the digital payments industry?
The company has been operational for more than eight years, delivering scalable and secure mobility payment solutions across India.
3. Who leads Avensprint Technologies?
Avensprint is led by Nagaraj B. Shetty, the Managing Director & CEO, who brings over 20 years of experience from HSBC, JP Morgan, and RBL Bank.
4. Which major banks partner with Avensprint?
Avensprint has collaborated with multiple banks, including:
IDBI Bank
Airtel Payments Bank
Yes Bank
Equitas Small Finance Bank
ICICI Bank
5. Is Avensprint recognized by government bodies?
Yes. Avensprint is recognized by NPCI and IHMCL under NHAI, and also by the Government of Maharashtra.
6. What makes Avensprint different from other FASTag service providers?
Avensprint is the only TSP in India with live multibank integrations, offering FASTag solutions beyond tolling—such as parking, EV charging, fuel, and state entry taxes.
7. What major innovations has Avensprint introduced in India?
Avensprint was the first in India to introduce a FASTag-based parking fee collection system in partnership with NPCI.
8. How many projects has Avensprint completed?
The company has successfully executed 350+ major projects across India.
9. What awards has Avensprint received?
Avensprint has earned nine major awards, including:
BFSI Award 2021 (Best Open Source FASTag Platform)
FinTech Award 2022 (FASTag Parking Payments)
FinTech Innovators Award 2023 (Multimodal FASTag Collection)
10. What technologies does Avensprint specialize in?
Its expertise includes:
RFID
ANPR
GNSS-MLFF
AI & ML
IoT-based mobility solutions
Digital payment systems and reconciliation platforms
11. What is the company’s philosophy under Mr. Shetty’s leadership?
He follows the “3 Ps” principle—People, Process, Policy—to build trust, transparency, and operational excellence.
12. What challenges did Avensprint face before its transformation?
When acquired by Steel Mont Group, the company faced skepticism from banks and government stakeholders due to past legacy issues. Trust rebuilding and transparency became top priorities.
13. How did Avensprint rebuild trust with partners?
Through transparent communication, accountability, in-house server management, optimized platform development, and direct engagement with all stakeholders.
14. How does Avensprint support its clients?
Avensprint assists banks, toll operators, and government agencies with:
Seamless settlement systems
End-to-end reconciliation
Compliance support
Audit-ready processes
Fast and reliable transaction settlements
15. What is Avensprint’s approach to marketing?
The company avoids heavy advertising and focuses instead on authenticity—using thought leadership, government collaborations, whitepapers, and credibility-driven communication.
16. What future innovations is Avensprint working on?
Avensprint is building solutions for:
Frictionless mobility
AI-powered fraud detection
Satellite-based tolling (GNSS-MLFF)
Real-time traffic intelligence
Smart EV charging automation
17. What is Avensprint’s long-term vision?
To be India’s most trusted leader in transit and digital payments, driving seamless mobility with speed, trust, and resilience.
18. What is the company’s market growth target?
Avensprint aims to:
Capture 40% of India’s tolling market by 2027
Implement MLFF technology at 250 plazas
Launch 20,000 fuel payment points
Introduce digital wallets and fleet management solutions nationwide
19. What is Avensprint’s work culture like?
The company promotes trust, inclusivity, and “Together Everyone Achieves More.” Employees say working at Avensprint feels like being part of a family.
20. How does Avensprint contribute to India’s digital transformation?
By offering secure, interoperable payment systems for tolls, parking, EVs, fuel, and mobility—helping India progress toward smart, connected, sustainable transport.
21. What advice does Mr. Shetty give to young entrepreneurs?
He emphasizes sincerity, patience, and quality over profit. He quotes the Bhagavad Gita:
“You have the right to perform your duty, but not to the fruits of your actions.”
22. What is Avensprint’s mission?
To deliver secure, innovative mobility and payment solutions that enhance efficiency, reduce congestion, and empower India’s financial ecosystem.
