SnappPay
VerifiedEntity IDIR-CO-037
SectorFintech
Founded2020
HQTehran (Zaferanieh, Tajrish)
VerificationVerified
Last reviewed2026-08-01
Buy now, pay later credit service. The company describes itself as Iran's first BNPL provider.
Tehran Index tracks this company as part of a source-linked research record on Iran’s technology economy. Access opens to a limited first cohort. Register for access, or browse the registry.
Decision snapshot
Registered users
13,548,854 accounts (3,527,485 monthly active)
2025-26Company disclosed
Snapp Group FY1404 annual report · retrieved 2026-07-27
Merchant network
22,165 stores (13,670 in-person branches / 5,946 brands; 8,495 online)
2025-26Company disclosed
Snapp Group FY1404 annual report · retrieved 2026-07-27
Legal identity
Atlas Tejarat Novin Diba (اطلس تجارت نوین دیبا), a limited liability company. National ID 14004729292, registration number 468042, economic code 4114785643696. Status: active, most recent official gazette notice 1404/07/12 (4 October 2025).
Current registry recordOfficial record
Official corporate registry / Roznameh Rasmi gazette, via Rasmio ↗ · retrieved 2026-08-01
Registered capital
6,000,000,000,000 IRR (6 trillion rial, 600 billion toman), registered 1404/07/08 (30 September 2025). Registered capital is a nominal legal figure and is not a valuation.
Current registry recordOfficial record
Official gazette notice 1404/07/12 (registered 1404/07/08), via Rasmio ↗ · retrieved 2026-08-01
Registered address
Zaferanieh, Tajrish, Shemiranat County, Tehran Province, Shahid Sarlashgar Falahi St, off Shahid Kaveh Parzin Baghdadi St, No. 2, 8th floor, west unit. Postal code 1987914345.
Current registry recordOfficial record
Official gazette notice 1402/06/09 (address change resolved 1402/05/16), via Rasmio ↗ · retrieved 2026-08-01
Entity age versus product age
The legal entity was registered 1393/11/25 (14 February 2015). The SnappPay buy-now-pay-later product launched in 2020. The registry supports the gap: capital sat at 1,000,000 IRR from incorporation in 2015 until the first material increase in 1400/09/16 (December 2021), the pattern of a dormant entity later activated for a new business.
Registration 2015, product launch 2020Official record
Official registry capital history, via Rasmio ↗ · retrieved 2026-08-01
Every field carries an explicit evidence state and its source. Self-reported figures are labelled as such; nothing is presented with more certainty than its source supports.
Operating metrics, period-stamped
Wallet adoption growth2025-26Company disclosed
+2,609% YoY growth in users transacting via the wallet
Black Friday record (7 Azar 1404)2025-26Company disclosed
650,957 4-instalment orders and 980,750 total credit orders in a single day
Business model & group
Licences and permitsCurrentOfficial record
Knowledge-based enterprise (danesh-bonyan), Vice-Presidency for Science and Technology, from 1401/05/02 (24 July 2022). Virtual-store services trading licence, Supreme Supervisory Board for Trade Unions, from 1403/03/29 (18 June 2024). Online gold and silver trading system licence, same authority, from 1405/04/25 (16 July 2026). eNamad e-commerce trust marks, Electronic Commerce Development Centre, from 1399/07/01 (22 September 2020) and renewed 1405/04/17 (8 July 2026).
Leadership
SnappPay CEOSince June 2020Founder disclosure
Majid Hesami, Founder and CEO since June 2020, per his own LinkedIn profile (1st-degree connection, ID-verified badge). Also Managing Director, Snapp Group (Jan 2020-present); INSEAD MBA (Class of Dec 2019); prior Investment Associate, World Bank (2019).
Registered officers19 February 2023Official record
Chairman and board member: Majid Hesami (national ID 0569955408). Vice chairman and board member: Ehsan Rahmani Nia (0082118000). Board member: Hossein Olia (4420996232). Managing director: Ahmad Kazerouni Afifoun (2280585064), appointed from outside the membership and partnership for an indefinite term. All four appointed by resolution of 1401/11/30 (19 February 2023), gazette 1402/01/21.
Signature authoritySince 2023-24/01/21Official record
Banking documents, securities, cheques, promissory notes, bills, other binding instruments and contracts require the joint signature of any two of the four registered officers, together with the company seal. Ordinary administrative correspondence requires the managing director signature alone.
Corporate family
Tracked entities in the same corporate family. Ownership percentages appear in Ownership & capital only when disclosed.
Ownership & capital
Shareholder structure30 September 2025Official record
Ide Negaran Atlas Roomak PJSC (ایده نگاران اطلس روماک), national ID 14005226407, registration number 479072, holds 5,999,999,990,000 IRR of the partners capital, effectively the entire company. Almas Ide Gostaran Pars LLC (الماس ایده گستران پارس), national ID 14010150981, holds the remaining 10,000 IRR. Both shareholders are represented by Jalal Gharapi (جلال قاراپی).
Capital history2015-2025Official record
Seven registered capital events: 1,000,000 IRR at incorporation (1393/11/25); 2,000,000 and 1,000,000 IRR (both 1400/09/16); 450,566,624,581 IRR (1401/01/28); 901,524,624,588 IRR (1401/06/27); 2,000,000,000,000 IRR (1402/10/20); 6,000,000,000,000 IRR (1404/07/08). Each increase was subscribed by Ide Negaran Atlas Roomak.
Signals & timeline, SnappPay mentions
2026-07-27SnappPay's merchant network grows to over 22,000 stores in past year2026-07-27SnappPay reports 13.5 million registered users and 877% growth in in-person merchant network.2026-07-25SnappPay: 4-installment order values double and order count up 48% in 2025-262026-07-02Snappay removes anti-competitive contract clauses after Digipay complaint
From the published signal feed; each record links to its source. All signals →
Source ledger, every field, its evidence
Registered users
13,548,854 accounts (3,527,485 monthly active)
Snapp Group FY1404 annual report · retrieved 2026-07-27retrieved 2026-07-27
Shareholder structure
Ide Negaran Atlas Roomak PJSC (ایده نگاران اطلس روماک), national ID 14005226407, registration number 479072, holds 5,999,999,990,000 IRR of the partners capital, effectively the entire company. Almas Ide Gostaran Pars LLC (الماس ایده گستران پارس), national ID 14010150981, holds the remaining 10,000 IRR. Both shareholders are represented by Jalal Gharapi (جلال قاراپی).
Official gazette notice 1404/07/12, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Licences and permits
Knowledge-based enterprise (danesh-bonyan), Vice-Presidency for Science and Technology, from 1401/05/02 (24 July 2022). Virtual-store services trading licence, Supreme Supervisory Board for Trade Unions, from 1403/03/29 (18 June 2024). Online gold and silver trading system licence, same authority, from 1405/04/25 (16 July 2026). eNamad e-commerce trust marks, Electronic Commerce Development Centre, from 1399/07/01 (22 September 2020) and renewed 1405/04/17 (8 July 2026).
Licence register, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Capital history
Seven registered capital events: 1,000,000 IRR at incorporation (1393/11/25); 2,000,000 and 1,000,000 IRR (both 1400/09/16); 450,566,624,581 IRR (1401/01/28); 901,524,624,588 IRR (1401/06/27); 2,000,000,000,000 IRR (1402/10/20); 6,000,000,000,000 IRR (1404/07/08). Each increase was subscribed by Ide Negaran Atlas Roomak.
Official registry capital-change record, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Merchant network
22,165 stores (13,670 in-person branches / 5,946 brands; 8,495 online)
Snapp Group FY1404 annual report · retrieved 2026-07-27retrieved 2026-07-27
Legal identity
Atlas Tejarat Novin Diba (اطلس تجارت نوین دیبا), a limited liability company. National ID 14004729292, registration number 468042, economic code 4114785643696. Status: active, most recent official gazette notice 1404/07/12 (4 October 2025).
Official corporate registry / Roznameh Rasmi gazette, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Registered capital
6,000,000,000,000 IRR (6 trillion rial, 600 billion toman), registered 1404/07/08 (30 September 2025). Registered capital is a nominal legal figure and is not a valuation.
Official gazette notice 1404/07/12 (registered 1404/07/08), via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Registered address
Zaferanieh, Tajrish, Shemiranat County, Tehran Province, Shahid Sarlashgar Falahi St, off Shahid Kaveh Parzin Baghdadi St, No. 2, 8th floor, west unit. Postal code 1987914345.
Official gazette notice 1402/06/09 (address change resolved 1402/05/16), via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Entity age versus product age
The legal entity was registered 1393/11/25 (14 February 2015). The SnappPay buy-now-pay-later product launched in 2020. The registry supports the gap: capital sat at 1,000,000 IRR from incorporation in 2015 until the first material increase in 1400/09/16 (December 2021), the pattern of a dormant entity later activated for a new business.
Official registry capital history, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Wallet adoption growth
+2,609% YoY growth in users transacting via the wallet
Snapp Group FY1404 annual report · retrieved 2026-07-27retrieved 2026-07-27
Black Friday record (7 Azar 1404)
650,957 4-instalment orders and 980,750 total credit orders in a single day
Snapp Group FY1404 annual report · retrieved 2026-07-27retrieved 2026-07-27
SnappPay CEO
Majid Hesami, Founder and CEO since June 2020, per his own LinkedIn profile (1st-degree connection, ID-verified badge). Also Managing Director, Snapp Group (Jan 2020-present); INSEAD MBA (Class of Dec 2019); prior Investment Associate, World Bank (2019).
LinkedIn (1st-degree, verified profile) · retrieved 2026-07-27retrieved 2026-07-27
Registered officers
Chairman and board member: Majid Hesami (national ID 0569955408). Vice chairman and board member: Ehsan Rahmani Nia (0082118000). Board member: Hossein Olia (4420996232). Managing director: Ahmad Kazerouni Afifoun (2280585064), appointed from outside the membership and partnership for an indefinite term. All four appointed by resolution of 1401/11/30 (19 February 2023), gazette 1402/01/21.
Official gazette notice 1402/01/21, no. 22734, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Signature authority
Banking documents, securities, cheques, promissory notes, bills, other binding instruments and contracts require the joint signature of any two of the four registered officers, together with the company seal. Ordinary administrative correspondence requires the managing director signature alone.
Official gazette notice 1402/01/21, no. 22734, via Rasmio ↗ · retrieved 2026-08-01retrieved 2026-08-01
Last full review: 2026-08-01 · Tehran Index research desk · corrections: desk@tehranindex.com
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Registered entity
Legal entityAtlas Tejarat Novin Diba
Entity typeoperating
StatusActive · LLC
Registered1393/11/25 (2015-02-14)
Registered capital6,600,000,000,000.1 trillion IRR
Board & shareholders
Majid HesamiChairman & public CEO · founder
Ehsan Rahmani NiaVice Chair
Hossein Olia
Ahmad Kazerouni Afifounregistered MD · external, since Feb 2023
OwnershipSnapp Group operating company; registry shareholders: Ide Negaran Atlas Romak (effectively 100%), nominal share held by Almas Gostaran Ideh Pars
Registered capital is the share capital recorded in the official gazette. Increases are real corporate events, but they are commonly funded from retained earnings or converted receivables and are also driven by inflation and regulatory minimums. It is not a valuation, and Tehran Index does not present it as one.
Official contact
Registered addressPlot 2, 8th Floor (west unit), Shahid Falahi St, Shahid Kaveh Parzin Baghdadi St, Zaferanieh, Tajrish, Tehran, Iran
Postal code1987914345
Phone021-96862220
Evidence & verification
Verification tierVerified, registry / official source
Primary evidencesnapppay.ir
Registry identifiersWithheld for compliance
Fields on this profile derive from linked public sources or the official company registry; unknown values stay blank rather than guessed, and estimates are always labelled. How we verify →
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