Fintech Sandbox Entities
Sandbox Exits
FinTech and TechFin authorisation and regulatory sandbox
About this entity type
A very brief overview
IFSCA operates a FinTech framework under which an entity can obtain direct FinTech/TechFin authorisation, or enter the regulatory sandbox to test an innovative financial product in a live but controlled environment with relaxed requirements for a limited cohort period. Grants and cross-border sandbox access (Inter-Operable Regulatory Sandbox) are available to eligible applicants.
Who it suits: Early-stage and growth fintechs, techfin providers to financial institutions, and foreign fintechs testing an India-facing or global product.
Applicable regulation
IFSCA (FinTech Incentive) Scheme and FinTech Entity Framework
Eligibility for FinTech/TechFin authorisation, sandbox cohorts, sandbox exit conditions and incentive grants.
Official source
Registered entities
Entities registered under Sandbox Exits
47 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| Afthonia Private Limited | Sandbox Exits | FE/LUA/014/833 /2022-2301 Feb 2023 | Perpetual / Not stated |
| Ahmedabad University Support Foundation | Sandbox Exits | FE/LUA/022/638/2022-2323 Mar 2023 | Perpetual / Not stated |
| ALT REALTECH PRIVATE LIMITED | Sandbox Exits | FE/LUA/040/890/2023-2413 Dec 2023 | Perpetual / Not stated |
| APG FinTech LLP | Sandbox Exits | FE/LUA/019/642/2022-2323 Mar 2023 | Perpetual / Not stated |
| BIL-Ryerson Technology Startup Incubator Foundation | Sandbox Exits | FE/LUA/011/820/2022-2301 Feb 2023 | Perpetual / Not stated |
| Blue Eye Soft Int LLC | Sandbox Exits | FE/LUA/030/767/2023-2426 Jun 2023 | Perpetual / Not stated |
| Bnkvoy Limited | Sandbox Exits | FE/LUA/027/723/2023-2426 Jun 2023 | Perpetual / Not stated |
| BONDEVALUE PTE. LTD | Sandbox Exits | FE/LUA/009/751/2022-23— | Perpetual / Not stated |
| Brontoo Technology Solutions Private Limited | Sandbox Exits | FE/LUA/032/765/2023-2426 Jun 2023 | Perpetual / Not stated |
| Credain Inc. | Sandbox Exits | FE/LUA/038/652/2023-2413 Dec 2023 | Perpetual / Not stated |
| CropData IFSC Private Limited | Sandbox Exits | —— | Perpetual / Not stated |
| Cymbient Technologies Private Limited | Sandbox Exits | FE/LUA/039/889/2023-2413 Dec 2023 | Perpetual / Not stated |
| Divsight Intelligence Private Limited | Sandbox Exits | FE/LUA/042/1056/2023-2418 Jan 2024 | Perpetual / Not stated |
| DPA SMARTCLOUD IFSC PRIVATE LIMITED | Sandbox Exits | FE/LUA/044/1065/2023-2419 Jan 2024 | Perpetual / Not stated |
| Dygnify Ventures Private Limited | Sandbox Exits | FE/LUA/035/774/2023-2404 Oct 2023 | Perpetual / Not stated |
Timeline & approach
How we take Sandbox Exits from plan to authorisation
Step 1
Eligibility & structure
Week 1
We map your activity to the right IFSCA category and sub-category, confirm net worth, KMP and shareholding eligibility, and fix the holding structure.
Step 2
SEZ unit approval
Weeks 2–4
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Weeks 3–8
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Weeks 8–14
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Indicative cost
USD 2,000 – 6,000 application and sandbox support
Includes solution documentation, sandbox boundary design and cohort reporting support.
Why GIFT City Gateway
Why sponsors pick us for this
Category specialists
We work only on GIFT IFSC mandates — the regulation, the reviewer questions and the SEZ process are our daily work.
One accountable owner
A named Gateway lead runs your application end to end, not a rotating coordinator queue.
Live intelligence
We track every authorised entity in this category, so your structure is benchmarked against real precedents.
Setup to steady state
Registration hands over into a live compliance calendar in your client portal — no gap after go-live.
Next step
Tell us what you need for Sandbox Exits
Share your plan and we respond with the eligibility read, the document list, the indicative timeline and a fee.
- • Eligibility and net-worth check against the applicable regulation
- • Structure options (branch vs subsidiary, holding jurisdiction)
- • Week-by-week plan across SEZ and IFSCA
- • Fixed-fee proposal with the compliance calendar that follows
Lead details