The skill-based online gaming startup leading with purpose, trust, and over 150M users
In a booming online gaming industry defined by breakneck growth and regulatory uncertainty, Zupee is rewriting the rules with nostalgia, cultural relevance and a deep focus on responsible gaming to ensure a safe, fair and transparent gaming environment for every user. Founded in 2018, Zupee has quietly scaled into India’s largest skill-based gaming platform by reimagining timeless board games like Ludo for the digital era.
What sets Zupee apart isn’t just its massive user base or its ₹1,123 crore turnover in FY24. It’s the way the company has fused cultural roots with modern gameplay, and profitability with purpose, all while navigating one of India’s most complex regulatory spaces.
The journey is led by founder & CEO Dilsher Malhi, who launched Zupee with a singular idea: that gaming could be both joyful and meaningful.
Bringing Purpose to Play
When the Zupee team began, they weren’t chasing the biggest genre or trend. They were on a mission to revive India’s childhood favourites with a new twist – short, skill-based formats that reward not luck but strategic thinking and skill. “Games are a part of our culture,” says Govind Mittal, Chief Spokesperson at Zupee. “We saw an opportunity to build something rooted in India that connects emotionally with users, while still being exciting and competitive.”
But building trust in a skill-based online gaming environment is no small feat. From day one, Zupee invested heavily in compliance, legal frameworks, and responsible gaming. Blockchain-based fairness mechanisms, RNG certifications, and a strong user verification system were built early into the platform. “We didn’t want to grow fast and break things – we wanted to grow right,” says Mittal.
The result? A retention-led platform with over 150 million users and more than 12.5 billion gameplays.
The Dream Team Behind the Scale
Zupee’s growth has been guided by a deeply complementary leadership team:
Dilsher Malhi (Founder & CEO) – An entrepreneur reshaping India’s gaming landscape by blending culture, technology, and purpose. At the helm of Zupee, he’s driving innovation with purpose, responsible growth, and a tech-led future for the gaming industry in India
Akanksha Dhamija (COO) – A thoughtful leader driving Zupee’s growth through trust, inclusivity and responsible innovation, combining sharp product, technology, and marketing acumen with a deep understanding of Bharat’s diverse user base to ensure the platform evolves with purpose, relevance and impact.
Govind Mittal (Chief Spokesperson) – A strategic leader powering Zupee’s growth with a sharp focus on trust, accountability and responsible gaming. With deep expertise in governance and compliance, he ensures the platform remains safe, transparent, and is built for the future of skill-based gaming in India.
Each member brings more than just skill – they bring a shared belief in building a responsible, inclusive, and sustainable gaming ecosystem.
Building for Bharat – and Beyond
Zupee’s early success came from a deep understanding of Indian user behavior. While many gaming startups leaned toward international formats, Zupee focused on what Indians already loved – board games – and reimagined them with real-time competition, skill-based outcomes, and micro-payments starting at just ₹1.
The company tackled challenges head-on. Regulatory flux? They built agile teams across product, legal, marketing, etc., to respond fast. Low user trust in RMG? They leaned into education, certifications, and a transparent product.
This relentless focus on user comfort and cultural fit helped Zupee achieve product-market fit early and dominate the casual skill-based board gaming category, capturing over 80% market share in the space.
Milestones That Matter
Zupee’s business model, rooted in a freemium approach, has been profitable and scalable. The company recorded a profit after tax (PAT) of ₹146 crore in FY24 – a rarity in the Indian startup ecosystem. And they’re only getting started.
Backed by top-tier investors like WestCap Group, Matrix Partners India, Orios Venture Partners, Smile and Tomales Bay Capital, Zupee’s growth is both capital-efficient and product-led. Its vision? To become the most trusted and responsible entertainment brand in India.
The company’s plans for the next 6–12 months is to continue its focus on enhancing user experience & advocating for responsible, ethical gaming practices across India.
Lessons from the Journey
One of Zupee’s biggest learnings? Growth is a byproduct of trust.
In an industry often scrutinized for its ethical gray zones, Zupee took the harder route – investing in systems, not sprints. It made fiscal discipline a virtue. It created a gaming platform where users didn’t just come for the fun but stayed for the fairness and responsible gaming.
Built in India. Played by Millions
As it looks to the future, Zupee wants to be more than just a gaming company. It wants to be the gold standard for responsible gaming in India, while leading the charge on digital play for the next billion users.
With its roots in Indian nostalgia, a focus on user wellbeing, and a track record of sustainable profitability, Zupee is setting a new benchmark – not just for gaming but for what it means to build with heart and scale with purpose.
