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  • CoinSwitch Kuber Success Story – How is it Easing Crypto Trading?

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    Indians are slowly and steadily considering Cryptocurrency as a safe mode of investment. Mostly the younger generation is taking interest in Cryptos. According to some reports, the average age of crypto investors in India is around 24 years. However, there are still many speculations about crypto trading and many investors are not comfortable with Crypto trading still. This is why the Bangalore-based startup, CoinSwitch Kuber was formed in 2017 to make crypto trading simpler for Indian Investors.

    The startup enables trading in several cryptocurrencies, including Bitcoin, Ripple, Ethereum, Litecoin, Dash, and many others, using INR. You just need to download the CoinSwitch Kuber iOS or android app and start trading. In this StartupTalky article, we are exploring more about CoinSwitch Kuber, the story behind the startup, and what the startup is offering, which includes CoinSwitch Kuber website, CoinSwitch Kuber reviews, CoinSwitch Kuber deposit, CoinSwitch Kuber investors, CoinSwitch Kuber login, CoinSwitch Kuber fees, and how it is growing!

    CoinSwitch Kuber – Company Highlights

    Startup Name CoinSwitch Kuber
    Also Known As Coinswitch.co
    Headquarters Singapore
    Industry Financial Services, Fintech, Trading Platform, Cryptocurrency
    Founders Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari
    Founded 2017
    Valuation $1.9+ bn
    Current CEO Ashish Singhal
    CoinSwitch Kuber website coinswitch.co

    About CoinSwitch Kuber and How it Works?
    CoinSwitch Kuber – Industry
    CoinSwitch Kuber – Logo, Tagline, and Slogan
    CoinSwitch Kuber – Founders and Team
    CoinSwitch Kuber – Startup Story
    CoinSwitch Kuber – Mission and Vision
    CoinSwitch Kuber – Partnerships
    CoinSwitch Kuber – Business Model and Revenue Model
    CoinSwitch Kuber – Growth and Revenue
    CoinSwitch Kuber – Funding and Investors
    CoinSwitch Kuber – ESOPs
    CoinSwitch Kuber – LayOffs
    CoinSwitch Kuber – Competitors
    CoinSwitch Kuber – Challenges Faced
    CoinSwitch Kuber – Future Plans

    About CoinSwitch Kuber and How it Works?

    CoinSwitch Kuber is a cryptocurrency trading platform that aims to simplify investing in cryptocurrencies. CoinSwitch Kuber aggregates liquidity across major Indian and global crypto exchanges. The platform’s order matching engine provides the traders the best rates at the click of a button, thus making trading simpler than ever.

    “We discovered that the price of crypto swings between exchanges based on supply and demand when trading in crypto ourselves. Choosing the correct exchange is crucial if you want to obtain greater profits from the market. “We created an aggregator of various exchanges that offered us real-time data on which exchange is the best to trade at any particular instant to obtain the highest return,” co-founder Ashish says explaining the idea behind the startup

    CoinSwitch Kuber lets users trade across 100+ cryptocurrencies. Users can buy cryptocurrency using a credit or debit card at competitive prices on the CoinSwitch platform. After completing the KYC/AML processes, customers may use the pooled liquidity of India’s top exchanges to receive the best rate and trade instantly.

    The CoinSwitch Kuber mobile app comes with a simple user interface that makes crypto trading a breeze.

    While customers from over 200 locations in India invest in crypto through its platform, tier I cities account for 40% of its users, while tier II (36%) and tier III (24%) make up the majority of its clientele. On CoinSwitch, the average ticket size per user is 9,000 per month, however, this varies by city. The average ticket size in Tier I is Rs 11,600, compared to Rs 6,600 in tier II and Rs 3,500 in tier III.

    What’s interesting or concerning, depending on one’s perspective, is that the average age of a crypto investor on CoinSwitch is 24 years, and Singhal claims that crypto is the first investment in any asset class for 65% of his customers outside of savings bank accounts and fixed deposits!

    CoinSwitch Kuber – Industry

    India is one of the fastest-growing crypto markets, as per research firm Chainalysis, which said that the Indian market for crypto increased by a whopping 641% between July 2020 and June 2021.

    CoinSwitch Kuber – Logo, Tagline, and Slogan

    Company Logo of CoinSwitch Kuber

    CoinSwitch Kuber’s tagline says, “Buy, Sell, Trade.” CoinSwitch Kuber has launched a new campaign with the catchphrase “Trade Kar, Befikar.”

    CoinSwitch Kuber – Founders and Team

    CoinSwitch Kuber was founded by Vimal Sagar Tiwari, Govind Soni, and Ashish Singhal in 2017.

    Founders of CoinSwitch Kuber
    Founders of CoinSwitch Kuber

    Ashish Singhal

    Ashish Singhal is the Co-founder and CEO of CoinSwitch Kuber. Former Amazon employee who interned at Microsoft, Ashish Singhal, is a computer science graduate from Delhi’s Netaji Subhas Institute of Technology. Besides handling various technical roles in companies like Livspace.com and Reap Benefit, Ashish founded startups like CRUXPay (an open-source protocol for blockchain naming services) and Urban Tailor, which is the first of its kind at home tailoring services. He left the position at Urban Tailor in September 2016, but continued with CRUXPay, before stepping down from that too in April 2020.

    Govind Soni

    CoinSwitch Kuber Co-founder and CTO, Govind Soni was also a former Amazon and Livspace employee. Besides CoinSwitch Kuber, Govind co-founded CRUXPay along with Ashish and Vimal. Soni was also a student of the same college as Ashish, where he studied Computer Engineering, and served as the Co-founder and CTO also at CRUXPay, before stepping down from it in January 2021.

    Vimal Sagar Tiwari

    CoinSwitch’s Co-Founder and Chief Operating Officer (COO), Vimal Sagar, worked with organizations like Zynga and Accenture. He graduated from the Jaypee University of Information Technology. Vimal is also a Co-founder of CRUXPay, and is still retaining the positions of Co-founder and COO at CRUXPay.

    The CFO, CBO, and SVP quit their roles to start up a new initiative that will offer insights to web3 investors. Sarmad Nazki, Sharan Nair, and Krishna Hegde of CoinSwitch Kuber haven’t finalised the name of the startup yet, as per news dated July 8, 2022. Nazki has served in the position for a little more than a year. Nair joined CoinSwitch Kuber just after the company was launched in 2017, and held numerous positions during his long stint, whereas Hegde joined the unicorn crypto company in September 2021. CoinSwitch Kuber confirmed that the positions of CFO, CBO, and SVP will be taken up by Ramesh Bafna, Rishav Dev, and R Ventakesh. The trio has already been talking to Web3 focused-investors to raise a seed round ahead.

    The CoinSwitch Kuber team has an employee count that somewhere ranges between 501-1000, as per its Linkedin profile.

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    CoinSwitch Kuber – Startup Story

    The origin of CoinSwitch Kuber can be traced to the realisation of Govind, Vimal and Ashish, all of whom were computer engineers and friends, when they discovered that the price of cryptocurrency is dynamic. It varied slightly across all the prominent crypto exchanges, based on the demand and supply. Therefore, they thought that if the users wanted to get better returns from the market, especially when it comes to scale, they needed to choose a good cryptocurrency exchange. This is what made them decide to create an aggregator of crypto exchanges. Here, their main aim was to provide real-time data on the best prices and exchanges for cryptocurrencies to be traded.

    Ashish, Govind, and Vimal, who are all in their early thirties, have been friends since their college days when Ashish and Govind were batchmates, and Vimal was a mutual friend of theirs. They were also tech whizzes who competed in hackathons as a group. Almost every big hackathon in India was won by the trio, including the ones organised by Sequoia, Google, Amazon, and LinkedIn. Surprisingly, CoinSwitch was inspired by a hack that the trio subsequently made public.

    On one occasion, the founders-to-be of CoinSwitch created a simple crypto exchange aggregator in a hackathon, but little did they know that the hack would later turn into a full-fledged company.

    CoinSwitch Kuber was founded in 2017, and as soon as it launched, the startup started to take users on board at a rapid scale. The users “needed simplicity in the crypto world”, said Ashish, and this made the simple and intuitive nature of the product work. The only goal that the founders of CoinSwitch had while working on the product was to make crypto easy to understand and accessible to the masses.

    However, soon after CoinSwitch was launched as a product, RBI’s announcement came, where the body signaled a ban on the cryptos by asking the banks to refrain from supporting these currencies in 2018. This made the founders take their product, which was then simply known as “CoinSwitch”, to the global market.

    Eventually, Sequoia Capital backed their venture, thereby making the CoinSwitch foray into success. Though the platform turned successful indeed outside of India, the hearts of the CoinSwitch founders were set only on their country.

    This turned real when Supreme Court intervened, overruling the previous RBI ban, thereby making it an open season for the crypto-based businesses like WazirX, ZebPay, CoinSwitch and more. This was more than a silver lining for them. They soon launched CoinSwitch Kuber app just for the Indian market.

    CoinSwitch Kuber – Mission and Vision

    The CoinSwitch Kuber team believes in financial inclusion, which means that wealth, investment, and financial education should be accessible to all people.

    CoinSwitch Kuber’s mission statement says, “Our Mission is to challenge the status quo. We believe that our platform democratizes cryptocurrency investment so the everyday man can make his money work for him – without a fancy degree or a boatload of money.”

    The company’s vision is to make crypto trading simple and transparent.

    CoinSwitch Kuber – Partnerships

    NDTV and CoinSwitch Kuber have established a strategic collaboration to provide comprehensive and best-in-class cryptocurrency programming in August 2021. NDTV will create unique crypto destinations on gadgets360.com, ndtvprofit.com, and ndtvindia.in as part of this relationship. This bridge expansion includes a refreshing show on NDTV 24X7 and NDTV India every other weekend.

    The need for trustworthy and accurate information is more important than ever as cryptocurrencies become more mainstream and more individuals begin to evaluate this asset class. With NDTV’s credibility and confidence, as well as CoinSwitch Kuber’s subject expertise and powerful trading platform, this collaboration aims to bridge that gap.

    CoinSwitch Kuber Partners with Startup Karnataka for Blockchain Hackathon

    The Blockchain Hackathon, Building Future Cities, an initiative decided by Startup Karnataka of Karnataka government, and Tejasvi Surya, Bengaluru South MP, will also have CoinSwitch as its partner. This initiative is aimed to recognize blockchain-based solutions and bring them to the citizens from across the country, in order to dissolve the everyday problems they face. Sequoia India will also be backing this hackathon.

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    CoinSwitch Kuber – Business Model and Revenue Model

    CoinSwitch Kuber is one of just a few cryptocurrency companies currently functioning. Users may acquire shards of various major cryptocurrencies on the crypto market. On CoinSwitch, for example, a user may buy bitcoin and other currencies in tiny sachets for as little as 100 Indian rupees ($1.30), which proves really profitable for the users. Besides, where other crypto exchanges came up with products for the traders who are acquainted with the order books, and are well-versed with buying/selling orders, CoinSwitch distinguished itself by targeting the users who hadn’t see an order book before, and wasn’t aware of what it was.

    CoinSwitch Kuber presents itself as an aggregator and don’t charge the users, in contradiction to other crypto exchanges, which usually charge transaction fees from the users. CoinSwitch Kuber, instead, of a maker, negotiates with the crypto exchanges on transaction fees.

    Speaking on the business and revenue model of CoinSwitch Kuber, Founder and CEO, Ashish Singhal said, “We give a fixed price to users and aggregate supply on the backend, Our execution engine is where the revenue comes from. But going forward, earning models may evolve as innovations and regulations come into play.”

    CoinSwitch Kuber offers its users free trading, deposit, and withdrawal facilities for the first 100 days. After that, a fee is charged on each transaction made through the platform. As per the terms of the company, there is no fee for the transfer of digital assets to the CoinSwitch Kuber wallet, however, withdrawal of digital assets from the wallet may attract charges. The platform also charges for the transfer of fiat currency through credit/debit cards or net banking.

    CoinSwitch Kuber – Growth and Revenue

    CoinSwitch Kuber has managed to impress investors with its concept and performance. In addition to Tiger Global Management’s $25 million investment in April 2021, Sequoia Capital, Ribbit Capital, Paradigm, Kunal Shah, the creator of Cred, and others have backed CoinSwitch. With the recent funding received from Andreessen Horowitz and Coinbase Ventures in October 2021, CoinSwitch Kuber reached Unicorn status with a valuation of $1.9 billion.

    CoinSwitch Kuber boasts of witnessing the highest number of downloads among the crypto startups in India in 2021 when it was downloaded more than 6.1 mn times.

    CoinSwitch Kuber is the most download crypto exchange app in 2021
    CoinSwitch Kuber is the most downloaded crypto exchange app in 2021downloaded

    Ever since CoinSwitch was started and was taken global after the RBI ban, the company started seeing huge transactions through their app. Within just 2 years, CoinSwitch Kuber has seen more users onboard its app than any other crypto exchange in India. This growth has been mainly due to the simplified UX that the app brought in, and its decision to not provide the users with certain trading features.

    Singhal points out that unlike other startups they did not knock on the investors’ doors.

    “We did not reach out to Tiger Global for funding. They contacted us and expressed their willingness to invest in our company. Tiger doesn’t invest less than $100 million but we said we just need $25 million,” says Singhal.

    Kuber claims to have over 15 million users in India, and the monthly active user count of CoinSwitch Kuber is over 7 million. It has also been disclosed that more than half of them are under the age of 25. CoinSwitch Kuber claims to have handled $5 billion in transactions in the last 11 months.

    The firm intends to expand its operations outside cryptocurrency in the future.

    “We intend to expand into traditional finance, such as equities, mutual funds, exchange-traded funds, and bonds, and provide a full portfolio on our platform to retail customers,” says the company.

    “We are not a capex-intensive business, and don’t need too much money. Hence, our EBITDA margins are in the range of 60-65%,” reveals Singhal.

    CoinSwitch Rolls Out the Web3 Discovery Fund

    CoinSwitch has launched the Web3 Discovery Fund, which is a fund that will invest in and help incubate early-stage startups that are engaged in building blockchain solutions for the Web3 space. This Web3 startups funding initiative of CoinSwitch is currently aiming to help up to 100 Indian startups, as per the reports dated August 10, 2022. Ashish Singhal, the CoinSwitch Co-founder and CEO stated that the fund has already received an initial corpus of $10 mn and the company is further looking to raise some more funds from marquee investor partners ahead.

    CoinSwitch: some of the major growth highlights are:

    • It has over 2 crore+ users as of February 2024
    • It is backed by some of the world’s leading investors including a16z, Tiger Global and Sequoia Capital India.

    Financials

    CoinSwitch Financials
    CoinSwitch Financials
    CoinSwitch Financials FY22 FY23
    Operating Revenue Rs 249 crore Rs 46 crore
    Total Expenses Rs 763 crore Rs 482 crore
    Profit/Loss Loss of Rs 513 crore Loss of Rs 385 crore

    EBITDA

    CoinSwitch FY22-FY23 FY22 FY23
    EBITDA Margin -204% -396.3%
    Expense/Rs of Op Revenue Rs 3.07% Rs 10.57%
    ROCE -25% -24%

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    CoinSwitch Pro

    On November 22, 2023, CoinSwitch launched the multiexchange trading platform CoinSwitch Pro on November 22, 2023. This platform marks a significant advancement for cryptocurrency enthusiasts and traders. This cutting-edge platform not only provides users with a comprehensive view of multiple tokens across various exchanges but also empowers them to make informed decisions by comparing prices and selecting the most suitable options.

    What sets this platform apart is its seamless functionality, allowing users to effortlessly trade crypto assets in INR across a multitude of exchanges, all through a single login. This streamlining of the trading process not only enhances the user experience but also signifies a pivotal step towards greater accessibility and user-friendliness within the cryptocurrency realm.

    There is a variable transaction charge associated with using the cross-exchange platform, depending on the crypto exchange that is used. The CoinSwitch Pro platform stands out for its flexibility in serving various users and exchangers.

    CoinSwitch Kuber – Funding and Investors

    CoinSwitch Kuber has raised over $300 mn over 4 funding rounds. It is now counted among the unicorn startups of India, with a valuation of over $1.9 bn.

    Date Round Amount Lead Investors
    October 6, 2021 Series C $260M Andreessen Horowitz, Coinbase Ventures
    Apr 22, 2021 Series B $22.7M Tiger Global Management
    Jan 13, 2021 Series A $15M Paradigm, Ribbit Capital
    Mar 24, 2018 Seed Round $1.5M –

    Andreessen Horowitz is a CoinSwitch Kuber investor, who invested for the first time ever in India in the $260 mn funding round of CoinSwitch, and was joined by Coinbase Inc., which turned CoinSwitch into a unicorn. Some other investors of CoinSwitch are Tiger Global, Paradigm, Ribbit Capital etc.

    CoinSwitch Kuber – ESOPs

    CoinSwitch Kuber recorded their first-ever ESOP buyback programme on March 21, 2022, worth $2.5 million. This buyback round was a mixture of funding that came from both the internal and external sources.

    CoinSwitch Kuber – LayOffs

    CoinSwitch in a recent move, has undertaken a strategic restructuring initiative, resulting in the reduction of its workforce by 8%. This decision translated to approximately 44 employees being laid off from various departments. Presently, CoinSwitch boasts a total workforce of 519 employees, as per their LinkedIn profile.

    The impact of these layoffs has predominantly been felt within the customer support team, where the majority of the affected employees were stationed. While such decisions are often undertaken as part of broader efforts to optimize and realign company resources, they undoubtedly bring about significant transitions for both the organization and the employees involved.

    In the official statement company spokesperson said, “we right-sized our customer support team to align with the present volume of customer queries on our platform. This impacted the roles of 44 members of our customer support team, who voluntarily resigned from their roles after a detailed discussion with their managers earlier this month.”

    CoinSwitch Kuber – Competitors

    To mention, the top 10 competitors of CoinSwitch Kuber are:

    CoinSwitch Kuber – Challenges Faced

    CoinSwitch Kuber employs over 120 people and has over 4.5 million users on its network. In comparison to other applications on the market, the app provides consumers with a clean UI and UX design. However, it was recently discovered that the app does not support UPI payments.

    On April 21, 2021, the organization announced on all of its official social media accounts that INR deposits in the CoinSwitch Kuber App will be disabled. CoinSwitch Kuber said on Twitter that the firm has temporarily blocked all INR deposits owing to unforeseen problems with their banking partner. The issue was later resolved and now INR deposits are enabled.

    Cryptocurrency is a murky area in India. Despite the legalization of crypto investments in India, there are many fears and doubts related to the topic. When it comes to difficulties, Ashish believes the company’s sole issue is teaching people in India about cryptocurrencies and the ecosystem.

    CoinSwitch Kuber had got into trouble in association with the idea of lending feature with the SEC, and as a result, Ashish had to drop the idea. However, the founders still are of the opinion that they would be able to use the lending and stakes feature to utilise them for earning revenues in the future. They have already started working to make it possible by working with regulators and gaining their confidence.

    As the trading of cryptocurrency lacks defined regulations, CoinSwitch Kuber temporarily paused crypto withdrawals.

    CoinSwitch Received ED Notice in Association with FEMA investigation

    CoinSwitch reportedly received a notice from the Enforcement Directorate (ED) along with some other cryptocurrency firms like CoinDCX in association with the Foreign Exchange Management Act (FEMA) investigation. Here, ED is determining whether or not these companies were engaged in offences related to foreign currencies. On this, CoinSwitch mentioned that it has received notifications from ED and is ready to comply with them, as per reports dated July 12, 2022.

    CoinSwitch Kuber – Future Plans

    CoinSwitch has revealed plans to build a cryptocurrency investment platform by June 2024 that is targeted at retail investors as per news report of March 11, 2024. Through the provision of user-centric technology, this program seeks to democratize access to digital asset trading and enable users to navigate investments with confidence.

    FAQs

    What does CoinSwitch Kuber do?

    CoinSwitch Kuber is a crypto trading platform for individual investors that is available only in the Indian market via a mobile application. It enables trading in several cryptocurrencies, including Bitcoin, Ripple, Ethereum, Litecoin, Dash, and many others, using INR and is available as a mobile application (INR).

    Is CoinSwitch Kuber an Indian company?

    Yes, CoinSwitch Kuber is an Indian company.

    Where is the CoinSwitch Kuber headquarters?

    CoinSwitch Kuber is currently headquartered in Singapore.

    Which companies do CoinSwitch Kuber compete with?

    Unocoin, WazirX, CoinDCX, Instamojo, Glidera, ZebPay, SmartCoin, IPaxful, Bitxoxo Bitcoins, and Coinbase are the top ten competitors of CoinSwitch Kuber.

    When was CoinSwitch Kuber founded?

    CoinSwitch Kuber was founded in 2017.

    Who founded CoinSwitch Kuber?

    CoinSwitch Kuber was founded by Vimal Sagar Tiwari, Govind Soni, and Ashish Singhal in 2017.

    What is the CoinSwitch Kuber website?

    The CoinSwitch Kuber website is coinswitch.co

    What are the CoinSwitch Kuber fees?

    CoinSwitch Kuber doesn’t ask the users anything such as the CoinSwitch Kuber fees. It rather poses itself as an aggregator and negotiates with the crypto exchanges on transaction fees.

    How is CoinSwitch Kuber login done?

    The CoinSwitch Kuber login procedure is really easy where the users need to download the app of the company and then they need to first have an account to log in to the same, with the same login credentials.

    What are CoinSwitch investors?

    Some of the prominent CoinSwitch investors are Ribbit Capital, Andreessen Horowitz, Tiger Global, Coinbase Inc., Sequoia, Paradigm and others.

    What was the CoinSwitch deposit issue?

    CoinSwitch deposit of rupees was temporarily disabled, but it was fixed after 2 long weeks.

    What is wrong with CoinSwitch Kuber withdrawals?

    When it comes to CoinSwitch Kuber withdrawals, the company has announced that it has temporarily disabled the withdrawal of cryptocurrencies.

  • Foodpanda Business Model | How Foodpanda Makes Money

    Foodpanda is an online food delivery marketplace that connects users to thousands of local food points. It maintains one of the most prominent apps for ordering from restaurants. Users can browse through various menus and place orders for home delivery/pick-up at the best prices. And it takes just a few clicks. Foodpanda offers you food point menus, customer reviews, and more for over 5,000 restaurants spread across 40+ Indian cities.

    So how does Foodpanda make money in the fiercely competitive food-delivery segment? Let’s find out by decoding Foodpanda’s business model.

    Foodpanda was launched in Singapore in March 2012 and expanded to 16 countries by the end of the year. It then expanded to seven more countries and had its presence in 23 countries by February 2013.

    The company aimed to reach 40 countries in Asia, Europe, Latin America, the Middle East, and Africa by Q1 2014. Currently, its operations span over 40 countries across continents. A New York Times article said Ralph Wenzel’s company Foodpanda is proof that rapid expansion plans are achievable with the right strategies.

    Foodpanda Marketing Strategy
    Foodpanda Business Model
    Foodpanda Revenue Model
    Foodpanda – Expenses
    SWOT Analysis of Foodpanda

    How Foodpanda makes money
    Foodpanda Business Model

    Foodpanda Marketing Strategy

    Promotion

    Digital marketing plays a huge role in Foodpanda’s marketing strategy. The company periodically introduces food festivals, offers, and incentives for its customer base through email marketing.

    Foodpanda uses social media platforms to launch its advertisements. It has a Facebook page for regular updates and interactions as well as to maintain visibility and brand value. The company has thousands of followers on Twitter.

    Foodpanda is known for its quirky taglines, the latest one being “Take the first bite”. And these taglines play a critical role in Foodpanda’s promotional campaigns. Foodpanda’s promotional programs have been seen on television, and radio, in cinema, in magazines, newspapers, train hoardings, bus hoardings, and in shopping malls.

    The company struck a deal with the Indian railways in December 2015. Under this arrangement, it allows travelers to order food online using the Indian railway’s platform.

    Revenues of the Online Food Delivery Market Worldwide From 2017 to 2027
    Revenues of the Online Food Delivery Market Worldwide From 2017 to 2027

    Price

    Foodpanda has become immensely popular and this has been possible due to its pricing policies. It has adopted a value-added pricing policy wherein it provides quality food items to customers at a fair price.

    Foodpanda’s customers are given incentives such as discounts and special offers. This treatment ensures customer retention and allows Foodpanda to stand out in the crowded food delivery segment.

    Distribution Network

    Foodpanda is owned by Germany-based ‘Delivery Hero SE’ and lets customers order food from restaurants and other dining places through its website and mobile app. Its network comprises 40+ countries. Foodpanda has partnered with an estimated forty thousand restaurants all over the world.

    Foodpanda started in Singapore and was present in Latin American, Eastern European, Russian, African, and Asian countries such as India, Bangladesh, Thailand, Singapore, Malaysia, and Pakistan by the start of 2016.

    Foodpanda’s distribution network includes more than two thousand partners such as Mast Kalander, Baskin Robbins, Nirula, Subway, and Pizza Hut.

    Experience

    Foodpanda ensures a healthy and delectable eating experience without the hassle of traveling or pre-planning. It connects customers to the restaurants of their choice.

    The first step is to locate restaurants that service your area. You do this by selecting your location on Foodpanda’s homepage. Once the list of restaurants is displayed, pick a restaurant and go through its menu.

    You then choose your meal which gets added to the cart. Once your cart is ready, enter your delivery location and follow the payment instructions. You will then receive an SMS on your order confirmation along with the estimated delivery time.

    Foodpanda also lets you see and upload reviews on restaurants. Customers can comment on several features like delivery, sales process, overall impression, and taste.

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    Foodpanda Business Model

    Foodpanda maintains a website and a mobile app that people can use to order food from their favorite restaurants and eateries.

    People can search for restaurants that deliver food to their addresses using Foodpanda’s website/app. After choosing the restaurant, users can select their meals which are then added to the transaction cart. Once the meals are finalized, people can check out their cart and pay via online payment gateways or through cash-on-delivery.

    Once the order is confirmed, a notification goes to the restaurant. Every restaurant that partners with Foodpanda gets access to a ‘merchant app’. The restaurant confirms the order and prepares the customer’s meal.

    As soon as the order is confirmed by the restaurant, a ‘delivery signal’ is sent to all delivery partners via Foodpanda’s ‘delivery partner app’. The partner who accepts the request (delivery signal) is entrusted with the responsibility of delivering the customer’s food.‌‌

    The delivery partner arrives at the restaurant to pick up the prepared meal and delivers it to the customer. ‌‌Customers can track the entire process right from food preparation to delivery on Foodpanda’s app/website. Live location tracking is a well-known trend in the food delivery business and Foodpanda offers the same.

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    Foodpanda Revenue Model

    The revenue of Foodpanda is generated through the following means:

    Registration Fees Charged From The Restaurant‌‌

    Foodpanda charges a registration fee from the restaurant to add the latter to its website/app. The restaurant (once added by Foodpanda) becomes visible to customers searching for local restaurants. The registration amount ranges between $100 to $150. It is a one-time fee.

    Commission From Restaurant ‌‌

    Foodpanda charges a commission from restaurants on every food order they receive through its platform. The commission is generally between 15% and 25% inclusive of all taxes. The commission is decided considering the restaurant’s location, the restaurant’s dependence on Foodpanda, and the number and kinds of orders.

    Delivery Fee From Customers‌‌

    There is a delivery fee for each order that a customer places on the Foodpanda app. Apart from this fee, there are other taxes that customers have to pay.

    ‌‌Foodpanda is a marketing platform for many restaurants, particularly newcomers. Restaurants can increase their visibility by registering on Foodpanda. They can also pay a certain amount to advertise their brand on the app.

    Affiliate Income‌‌

    Foodpanda also makes money by offering suggestions on the credit cards of various banks. Moreover, banks send out discounts and special offers on their cards to encourage transactions. Foodpanda collaborates with these banks for affiliate marketing.

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    Foodpanda – Expenses

    • Development and maintenance cost of its online ordering system. The system comprises Foodpanda’s website, merchant app, customer app, delivery partner app, and the backend setup for managing everything
    • Salaries and provisions for full-time employees
    • Salaries and incentives for distribution partners
    • Administrative costs
    • Customers are given benefits in the form of offers
    • Returns and refunds
    • Miscellaneous expenses

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    SWOT Analysis of Foodpanda

    SWOT Analysis of Foodpanda
    SWOT Analysis of Foodpanda

    Strengths of Foodpanda

    Excellent Platform

    Foodpanda is known for its robust and user-friendly website and mobile app. Customers can use these mediums to order meals without any hassle.

    They can browse from an extensive list of restaurants. Moreover, customers can track the entire process from placing the order to receiving the delivery.

    Online Ordering

    Foodpanda accepts orders through its website and mobile application. It connects customers and restaurants over the Internet.

    Investment

    Foodpanda has raised $749.5 million of venture capital. It raised nearly $110 million in initial funding from Rocket Internet and investment AB Kinnevik in the year 2013. Its last round was a private equity round in the year 2015 where it raised $100 million.

    in year 2013, iMENA Holdings invested $8 million. Foodpanda also received another $20 million from Phenomen Ventures and $60 million from Alpha Wave Global in 2014. Goldman Sachs also invested $100 million in Foodpanda. It shows how confident investors and VCs are about Foodpanda’s success and growth.

    Strong Brand Name

    Foodpanda was taken over by the firm ‘Delivery Hero‘ in the year 2016. Delivery Hero manages several international brands. It handles Foodora, HelloFood, Delivery Club, and many others besides Foodpanda. Hence, Foodpanda is under the umbrella of a strong brand.

    Global Operations

    Foodpanda has footprints in Eastern Europe, the Middle East, and Asia.

    Global Re-branding

    In the year 2017, Foodpanda underwent re-branding with its logo being changed from orange to pink. The iconic panda remains at the forefront of its logo.

    Quick Delivery

    Foodpanda is known for facilitating quick deliveries so that customers enjoy piping hot meals.

    Great Customer Support

    Foodpanda provides excellent customer support. It keeps experimenting with food menus and consistently partners with new restaurants. Therefore, customers can always expect something new from Foodpanda.

    Dominos – A Curious Case Ctudy
    Today, the fast food industry has now become our priority partner in every
    situation of life. Many of the fast foods brands have taken the name of the fast
    food like McDonalds is our burger, Coke is our soft drink, same way Dominos is
    our pizza. While many of the fast-food businesses are struggling …
    StartupTalkyYash Gupta

    Weaknesses of Foodpanda

    Orders From Nearby Restaurants

    Orders are available only from restaurants that are located in the same location as the delivery address. This restricts the customers from trying out various restaurants.

    Tap On Free Delivery

    The quantity required for free delivery is at times way more than what one asks for or can afford.

    Coverage

    Foodpanda doesn’t cover most of the cities completely.

    Opportunities For Foodpanda

    Growing Market

    Foodpanda competes in a segment that continues to grow. Hence, there is immense scope for improvement.

    Customer Expansion

    Foodpanda should tie up with new restaurants and update its website/app to attract foodies.

    Threats For Foodpanda

    Increasing Competition

    The list of startups and established companies that are present in the online food delivery segment is increasing with each passing day.

    Changes In Economic Conditions

    Economic changes and volatility can crush even the best. Foodpanda needs to build resilience to withstand rough times.

    Ease Of Visiting Nearby Restaurants

    People at times prefer to go to a nearby restaurant rather than ordering online. This is one of the biggest threats to Foodpanda considering its business model.

    Conclusion

    Foodpanda is making great strides. The team at Foodpanda is leveraging social media platforms to the fullest to engage customers. It has achieved considerable growth through email marketing, social marketing, and mobile marketing. If Foodpanda continues to innovate and improvise, it won’t be long before it dominates the online food ordering and delivery segment.

    FAQs

    When was Foodpanda founded?

    Foodpanda was founded in the year 2012.

    How does Foodpanda earn money?

    Foodpanda earns money in the following ways:

    • Registration Fees From the Restaurant‌‌
    • Commissioned From Restaurant ‌‌
    • Delivery Fee From Customers‌‌
    • Advertisement
    • Affiliate Income‌‌

    Why is Foodpanda successful?

    Foodpanda is successful because of the following reasons :

    • Excellent Platform
    • Online Ordering
    • Investment
    • Global Operations
    • Global Re-branding
    • Quick Delivery
    • Good Customer Support

    Which company owns Foodpanda?

    Foodpanda was taken over by the firm ‘Delivery Hero’ in the year 2016.

    How does Foodpanda work?

    Users can browse through various menus and place orders for home delivery/pick-up at the best price. And it takes just a few clicks. Foodpanda offers you not only food point menus but customer reviews too.

  • Create Beautiful Designs with These Top AI-Powered Design Tools

    How many times have you heard someone talk about AI/ChatGPT/Midjourney in the past few months? Well, we bet the count stands for TOO MANY. After all, we live in an era where AI is taking over manual interventions, a time when there are too many, ifs, buts, and hows – mostly owing to the right reasons. AI has transformed the content industry forever, and the ‘design’ vertical has been no different. Artificial Intelligence has brought about a revolution in the design industry, transforming the way designers work and unleashing their creative potential. With the rise of AI design tools, designers can now save time, improve efficiency, and explore new creative possibilities. In this comprehensive guide, we shall shed some light on the top AI-powered design tools that can enhance your design workflow and help you create stunning visuals.

    What Are AI Design Tools All About?
    The Benefits of AI Design Tools for Designers
    Top AI-Powered Design Tools

    What Are AI Design Tools All About?

    AI design tools are innovative platforms or applications that leverage AI capabilities to assist designers in various aspects of the design process. These tools automate laborious tasks, generate design options, predict outcomes, and improve the overall effectiveness and efficiency of designs. By harnessing the power of AI, designers can streamline their workflow, optimize their processes, and achieve better results.

    These tools are equipped with features such as intuitive interfaces, ideation support, user-friendly design assets, and responsiveness across different devices. These tools enable designers to focus on the creative aspects of their work while AI takes care of repetitive tasks and provides valuable insights.

    The Benefits of AI Design Tools for Designers

    AI design tools offer numerous benefits for designers, allowing them to work smarter and more efficiently. Here are some of the key advantages of using AI-powered design tools:

    Minimising Manual Work

    One of the significant benefits of AI design tools is their ability to minimize manual work. These tools automate repetitive and time-consuming tasks, such as generating design ideas, refining operations, and assembling interfaces. By automating these tasks, designers can save valuable time and allocate their efforts to more creative and strategic aspects of the design process.

    Providing Data-Driven Insights

    AI design tools can analyze data from various sources, including user feedback, usability metrics, and market trends. By leveraging this data, designers can gain valuable insights into user preferences, improve user engagement, and make informed decisions to enhance their designs. These data-driven insights help designers create designs that better meet the needs and expectations of their target audience.

    Generating Multiple Designs Automatically

    Generating multiple design options is a common challenge for designers. AI design tools can automatically generate multiple unique and alternative designs based on specific requirements and preferences. These tools facilitate the exploration of various design possibilities without compromising brand integrity. Designers can quickly iterate and choose the best design that aligns with the project goals.

    Enhancing Accuracy and Quality

    AI design tools leverage algorithms to accurately analyze and predict design outcomes. This enhances the accuracy and quality of designs, reducing the risk of errors and design failure. By minimizing mistakes and ensuring precision, designers can deliver high-quality designs that align with client expectations and project requirements.

    Cost-Efficiency

    By automating repetitive tasks and reducing the need for manual work, AI design tools offer cost-efficiency in the design process. These tools help businesses save on labor costs and reduce the chances of design mistakes and failures. Designers can optimize their workflow and deliver projects within budget, making AI design tools a valuable investment for organizations.

    Forecasted Artificial Intelligence (AI) Market Size
    Forecasted Artificial Intelligence (AI) Market Size

    Top AI-Powered Design Tools

    Now that we understand the benefits of AI design tools let’s explore the top AI-powered design tools available in the market. These tools cover a wide range of design needs, from web app development to image enhancement and color palette generation. Let’s dive in!

    Dall-E 2

    Tool Dall-E 2
    Rank 3.8 out of 5
    Best For Instant Image Generation from Text
    Free Trial Not available
    Top AI Design Tools - Dall-E 2
    Top AI Design Tools – Dall-E 2

    Dall-E 2 is an AI-powered image generation tool that creates high-quality images from text descriptions. Using machine learning algorithms, Dall-E 2 understands user input and generates unique images based on the provided descriptions. This tool is perfect for designers and artists looking to create custom images quickly and easily.

    Key Features:

    • Generate high-quality images from text descriptions
    • Create custom images quickly and easily
    • Cost: Pay-per-use pricing

    Midjourney

    Tool Midjourney
    Rank 4.4 out of 5
    Best For Generating Images from Text Prompts
    Free Trial Not available
    Top AI Design Tools - Midjourney
    Top AI Design Tools – Midjourney

    Midjourney is an AI-powered design tool that generates custom images and illustrations based on user input. This tool uses machine learning algorithms to understand user preferences and generate unique designs that match their style. Midjourney is perfect for content creators looking to create custom visuals and graphics quickly and easily.

    Key Features:

    • Generate images and illustrations from text prompts
    • Customise designs based on user preferences
    • Cost: Subscription-based pricing model

    How to Use Midjourney – Ai Text To Image Generator – Beginner’s Guide

    Debuild

    Tool Debuild
    Rank –
    Best For Quick and Easy Web App Development
    Free Trial Available
    Top AI Design Tools - Debuild
    Top AI Design Tools – Debuild

    Debuild is an AI-powered, low-code tool designed to help designers and developers build web apps quickly and easily. Using sophisticated algorithms, Debuild can generate React components and SQL code, allowing designers to assemble interfaces visually and create high-quality web apps in seconds. This tool is ideal for product teams, designers, and developers looking to streamline the web app development process.

    Key Features:

    • Instantly generate web applications with low-code development
    • Visual interface for assembling web app components
    • Suitable for both designers and developers
    • Cost: Free

    Let’s Enhance

    Tool Let’s Enhance
    Rank 4.6 out of 5
    Best For Elevating Image Quality
    Free Trial Available
    Top AI Design Tools - Let's Enhance
    Top AI Design Tools – Let’s Enhance

    Let’s Enhance is an AI-powered image enhancement tool that improves the quality of images with just a few clicks. Whether you need to remove noise, sharpen blurry images, or upscale low-resolution images, Let’s Enhance can help you achieve professional-grade results. This tool uses deep learning algorithms to analyze and enhance images while preserving their natural look and feel. Let’s Enhance is perfect for photographers, graphic designers, and social media managers looking to enhance the visual impact of their images.

    Key Features:

    • Enhance image quality with AI-powered algorithms
    • Remove noise, sharpen images, and upscale low-resolution images
    • Preserve the natural look and feel of images
    • Cost: Free, with premium plans available

    VisualEyes

    Tool VisualEyes
    Rank –
    Best For Real-Time Design Feedback
    Free Trial Free Plan Available
    Top AI Design Tools - VisualEyes
    Top AI Design Tools – VisualEyes

    VisualEyes is an AI-powered design feedback tool that provides real-time feedback on your designs. This tool uses eye-tracking technology and machine-learning algorithms to analyze how users interact with your designs. VisualEyes offers heatmaps and gaze plots that show where users look and how they navigate your designs. This valuable feedback helps designers identify areas for improvement and create designs that offer a better user experience.

    Key Features:

    • Real-time feedback on designs using eye-tracking technology
    • Heatmaps and gaze plots to analyze user interactions
    • Test designs on different devices and platforms
    • Cost: Free, with paid plans available

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    Uizard

    Tool Uizard
    Rank 3.9 out of 5
    Best For Transforming Sketches into Designs
    Free Trial Free Plan available
    Top AI Design Tools - Uizard
    Top AI Design Tools – Uizard

    Uizard is an AI design tool that helps designers transform sketches and wireframes into polished designs. With the help of machine learning algorithms, Uizard can generate high-quality web apps in seconds. This tool offers a range of design options, including animations and interactions, allowing designers to create customized designs that meet their specific requirements. Uizard is ideal for product teams, designers, and developers who want to streamline the web app development process.

    Key Features:

    • Transform sketches and wireframes into polished designs
    • Generate high-quality web apps quickly and easily
    • Customize designs with animations and interactions
    • Cost: Free for students, with premium plans available

    Khroma

    Tool Khroma
    Rank –
    Best For Generating Custom Color Palettes
    Free Trial Free Plan available
    Top AI Design Tools - Khroma
    Top AI Design Tools – Khroma

    Khroma is an AI-powered color palette generator that helps designers find the perfect colors for their designs. This tool analyzes millions of images using machine learning algorithms to create unique color palettes based on user preferences. Khroma allows designers to adjust brightness, saturation, and contrast, and save their customized color palettes for future use. Whether you’re working on websites, apps, logos, or illustrations, Khroma can help you generate stunning color schemes.

    Key Features:

    • Generate unique color palettes based on user preferences
    • Adjust brightness, saturation, and contrast
    • Save customized color palettes for future use
    • Cost: Free, with premium plans available

    Fronty

    Tool Fronty
    Rank –
    Best For Generating HTML and CSS Code from Designs
    Free Trial Free Plan available
    Top AI Design Tools - Fronty
    Top AI Design Tools – Fronty

    Fronty is an AI design tool that generates HTML and CSS code based on designs. This tool integrates with popular design software like Figma, Sketch, and Adobe XD, allowing designers to create and share design components seamlessly. Fronty uses AI to identify and categorize design elements, making it easy to find and reuse them in projects. Designers can also generate custom design systems based on brand color palettes and typography, saving time and effort.

    Key Features:

    • Generate HTML and CSS code from designs
    • Seamlessly integrate with popular design software
    • Create and share design components with ease
    • Cost: Free, with premium plans available

    Scribble Diffusion

    Tool Scribble Diffusion
    Rank –
    Best For Create Stunning Illustrations and Animations
    Free Trial Free Plan available
    Top AI Design Tools - Scribble Diffusion
    Top AI Design Tools – Scribble Diffusion

    Scribble Diffusion is an AI illustration tool that helps designers create stunning illustrations and animations in seconds. Using deep learning algorithms, Scribble Diffusion analyses sketches and converts them into high-quality illustrations. Designers can customize their illustrations by adjusting parameters like stroke size and color. The tool also allows designers to create eye-catching animations that bring their designs to life. With the ability to download illustrations and animations in various file formats, Scribble Diffusion is a powerful tool for design projects.

    Key Features:

    • Turn sketches into refined illustrations using AI
    • Customise illustrations by adjusting stroke size and color
    • Create eye-catching animations with ease
    • Cost: Free

    Fontjoy

    Tool Fontjoy
    Rank –
    Best For Generating Perfect Font Pairings
    Free Trial Starts at Free
    Top AI Design Tools - Fontjoy
    Top AI Design Tools – Fontjoy

    Fontjoy is an AI tool that generates custom font pairings based on user input. Using machine learning algorithms, Fontjoy analyses user preferences and suggests font pairings that complement each other. Whether you’re a designer or developer, Fontjoy can help you find the perfect font pairing for your design work.

    Key Features:

    • Generate perfect font pairings with AI algorithms
    • Complement your designs with harmonious font combinations
    • Cost: Free

    Conclusion

    What looked like an exaggeration 5 years ago, now hints at a sure-shot future. AI is here to stay, and the change seems inevitable. It has always been like that. Isn’t it? The role of design and designers is quickly changing. Whether you’re a seasoned graphic designer, web designer, UI/UX designer, or just starting your design journey, AI-powered design tools can be invaluable assets in your creative arsenal. As a designer, you can experiment with these tools, understand their capabilities, and elevate your design work to new heights. It is time you tap into the power of AI and unlock your creativity today!

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    FAQs

    What are AI design tools about?

    AI design tools are innovative platforms or applications that leverage AI capabilities to assist designers in various aspects of the design process. These tools automate laborious tasks, generate design options, predict outcomes, and improve the overall effectiveness and efficiency of designs.

    What are the benefits of AI design tools?

    Below are the benefits of AI design tools:

    • Minimising Manual Work
    • Providing Data-Driven Insights
    • Generating Multiple Designs Automatically
    • Enhancing Accuracy and Quality
    • Cost-Efficiency

    What are the top AI design tools for designers?

    Below are the top 10 AI design tools for designers:

    • Dall-E 2
    • Midjourney
    • Debuild
    • Let’s Enhance
    • VisualEyes
    • Uizard
    • Khroma
    • Fronty
    • Scribble Diffusion
    • Fontjoy

  • The Benefits of Using AI Design Tools for Your Business

    Incorporating AI into anything today is a prerequisite, and the design and creative industry is no different. The graphic design workflow has the potential to transform the industry. By leveraging the power of artificial intelligence, designers can streamline their processes, boost creativity, and enhance efficiency. In this comprehensive guide, we’ll explore the various ways AI is revolutionizing graphic design and how designers can leverage AI tools to create impactful and visually stunning designs.

    Understanding the Role of AI in Graphic Design
    Incorporating AI into the Graphic Design Workflow
    Selecting the Right AI Tools for Graphic Design
    The Future of AI in Graphic Design

    Understanding the Role of AI in Graphic Design

    AI has become an integral part of the graphic design world, empowering designers to approach their tasks in new and innovative ways. By harnessing the capabilities of AI, designers can automate repetitive tasks, gain valuable insights from data analysis, generate ideas, and personalize designs to meet the specific needs of clients.

    Automating Repetitive Tasks

    One of the key benefits of incorporating AI into graphic design is the ability to automate repetitive tasks. AI-powered tools, such as Adobe’s Sensei and Canva, can handle tasks like resizing images, color correction, and font matching, saving designers valuable time. By automating these mundane tasks, designers can focus more on the creative and strategic aspects of their work.

    Data Analysis and Insights

    AI can analyze vast amounts of data and provide valuable insights that can inform the design process. By leveraging AI algorithms, designers can gain a deeper understanding of user behavior, preferences, and trends. This data-driven approach allows designers to create more intuitive and engaging user experiences, resulting in designs that resonate with the target audience.

    Idea Generation and Inspiration

    Generating fresh and original ideas is a challenge for many graphic designers. AI can help overcome this hurdle by providing inspiration and generating new design concepts. AI-powered tools like Adobe’s Sensei and Google’s Deep Dream can analyze data and develop unique visuals and design ideas based on specific criteria and preferences. This not only saves time but also sparks creativity by presenting designers with new perspectives and possibilities.

    Personalization and Customisation

    AI enables designers to personalize designs to meet the unique needs of clients. By leveraging AI algorithms to analyze customer data and preferences, designers can create customized designs that resonate with the target audience. This personalized approach helps build stronger relationships with clients and ensures that the design effectively communicates their brand identity and message.

    Forecasted Artificial Intelligence (AI) Market Size
    Forecasted Artificial Intelligence (AI) Market Size

    Incorporating AI into the Graphic Design Workflow

    To fully harness the power of AI in graphic design, designers need to strategically integrate AI tools into their workflow. By identifying areas in the design process that can benefit from AI and adopting the right tools, designers can enhance their creativity and efficiency. Here are some key ways to incorporate AI into the graphic design workflow:

    Automation of Routine Tasks

    Designers can automate routine tasks using AI-powered tools. For example, tools like Designhill and Canva can automatically generate designs based on specific requirements, saving designers time and effort. By delegating these tasks to AI, designers can focus on more complex and creative aspects of their work.

    Enhanced Data Analysis

    AI-powered tools can analyze user data and provide designers with valuable insights. By understanding user behavior and preferences, designers can make informed design decisions. AI algorithms can track user engagement, monitor trends, and identify patterns in real time, enabling designers to create designs that resonate with their target audience.

    Ideation and Inspiration

    AI can help designers overcome creative blocks and generate new ideas. Tools like Adobe’s Sensei and Google’s Deep Dream can analyze data and generate unique design concepts based on specific criteria. By leveraging AI for ideation and inspiration, designers can explore new creative directions and push the boundaries of their designs.

    Customisation and Personalisation

    AI algorithms can analyze customer data to create personalized designs. By understanding the target audience’s preferences and behavior, designers can create designs that effectively communicate the brand’s message. AI-powered tools like Looka and Tailor Brands can suggest logos, typefaces, and color palettes based on brand guidelines, ensuring consistency and coherence in design.

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    Selecting the Right AI Tools for Graphic Design

    Choosing the right AI tools is crucial for graphic designers looking to upgrade their workflow and create impactful designs. With a wide array of AI-powered tools available, designers need to consider their project needs, team skill set, and budget. Here are some popular AI tools for graphic design:

    1. Adobe Sensei: Adobe Sensei is an AI-powered platform integrated into Adobe Creative Cloud products like Photoshop and Illustrator. It automates repetitive tasks, predicts design improvements, and suggests enhancements to designs.
    2. Canva: Canva is a cloud-based design tool that uses AI to simplify graphic design. It offers a range of templates, design elements, and automation features that save time and enable designers to create professional designs quickly.
    3. Figma: Figma is a collaborative design tool that uses AI to streamline the design process. With features like real-time collaboration, prototyping, and commenting, Figma helps designers work together efficiently on design projects.
    4. Looka: Looka is an AI-powered tool that helps designers create appealing and consistent UI elements and branding. It suggests logos, icons, typefaces, and color palettes based on brand guidelines, simplifying the design process.
    5. Tailor Brands: Tailor Brands is an AI-powered platform that assists designers in creating high-quality designs quickly. It offers a range of design templates and elements, making it easy for designers to create professional designs without extensive design skills.

    Canva for Beginners: Opening Canva

    The Future of AI in Graphic Design

    As technology continues to advance, the role of AI in graphic design is set to grow. Future advancements in AI are expected to bring more sophisticated personalization techniques, improved automation capabilities, and a deeper understanding of user behavior. Designers who stay updated with these trends and continuously adapt to harness the power of AI will be well-positioned to create innovative and user-centered designs.

    Conclusion

    AI is revolutionizing the graphic design industry by enhancing creativity and efficiency. By incorporating AI into their workflow, designers can automate routine tasks, gain valuable insights from data analysis, generate fresh ideas, and personalize designs to meet client needs. Selecting the right AI tools and strategically integrating them into the design process can significantly enhance productivity and create impactful designs. As the field of AI continues to advance, designers who adapt to this technology will be at the forefront of innovation in graphic design. AI is not about replacing human creativity but leveraging it to push the boundaries of design and create visually stunning and effective designs.

    FAQs

    Here are some popular AI tools for graphic design:

    • Adobe Sensei
    • Canva
    • Figma
    • Looka
    • Tailor Brands

    What can be the role of AI in graphic design?

    By harnessing the capabilities of AI, designers can automate repetitive tasks, gain valuable insights from data analysis, generate ideas, and personalize designs to meet the specific needs of clients.

    What is Looka tool about and how does it help in graphic design?

    Looka is an AI-powered tool that helps designers create appealing and consistent UI elements and branding. It suggests logos, icons, typefaces, and color palettes based on brand guidelines, simplifying the design process.

  • Saurabh Awasthi, Meet7 Co-Founder, Shares Insights on the App’s Strategies, Rapid Growth, and Special Features

    In the modern landscape, the quest for meaningful relationships has found a new avenue in the form of online dating. With technology shaping our interactions, innovative dating apps are emerging to facilitate connections. Among these apps, Meet7 has emerged as a rising star, drawing attention for its distinctive approach to online dating.

    In a recent interview with Saurabh Awasthi, co-founder of Meet7, we took a comprehensive look into the platform’s functioning. We gained valuable insights into the company’s strategies, rapid growth, and innovative features that have captured the attention of users.

    Let’s explore Saurabh’s insights to understand how Meet7 is making a difference in the world of online dating.

    StartupTalky: When was the Meet7 app launched, and how many people use it now?

    Saurabh: We introduced the app to the world in December 2022, and it has taken off like wildfire since then. Right now, more than 100,000 people are using the app and enjoying the unique dating experience it offers. It’s been an exciting journey, connecting people and making meaningful connections in the world of online dating.

    StartupTalky: What are the key factors that brought growth to Meet7 in such a short span of time?

    Saurabh: The bulk of it can be attributed to its finely tuned features that align with today’s safe dating dynamics.

    At the heart of our success lies a dedicated emphasis on user security and privacy, a paramount concern in the current landscape. By incorporating advanced security measures, we instill confidence in our users, empowering them to forge meaningful connections without hesitation. Moreover, recognizing the contemporary need for swift yet substantial matches, our app strategically employs the “KnowQ” and “CompQ” features, facilitating efficient and compatible matches that resonate authentically with users’ preferences.

    This innovative approach has not only garnered attention but has also propelled the app’s popularity, driving impressive growth in a relatively brief timeframe. In essence, our app has adeptly harnessed evolving dating trends by offering a secure, privacy-conscious, and intelligently efficient platform that deeply resonates with the desires of modern daters.

    Also, several innovative features are designed to address common issues in the dating scene. One standout feature is our departure from the tiresome swiping culture. Unlike other apps where you endlessly swipe left and right, we present users with 7 carefully selected matches that suit their preferences. This not only saves time but also increases the chances of finding meaningful connections faster.

    Another crucial aspect is user safety. We’ve taken strong measures to ensure that our app is a secure environment. We have a thorough verification process that confirms the authenticity of every user. Also, male users can either join by invitation from an existing female Meet7 user or by connecting their LinkedIn profiles to their Meet7 profiles, which ensures the authenticity of the people coming on board.

    For male users, we have a behavior scoring system, creating a respectful and safe space for everyone. There are so many other features that Meet7 has that are industry-first, not only domestically but globally too. These improvements have played a pivotal role in driving the rapid growth of our dating app.

    StartupTalky: Any insights around the target audience of your sites? What did the demographic of the newest registered user profile look like?

    Saurabh: Our primary focus lies on targeting users from metropolitan areas, recognizing their prominence in the dating app landscape. However, our reach has effectively broadened and reached beyond initial expectations, capturing a diverse range of users from various backgrounds and locations. This strategic approach allows us to serve a more extensive and varied audience, enriching the experiences and connections facilitated by our platform.

    StartupTalky: Many dating apps introduce video call features, do you have the features, and if you do, what significant numbers, like user adoption, have you generated through those features?

    Saurabh: Absolutely, we are amongst the first few, who introduced video calling within the app. We kickstart your journey with 7 tailored matches. When you’ve found someone intriguing, you can engage them in conversation by posing questions and getting to know them better. Now, when it comes to video calls, we’ve got you covered with a unique feature. You can schedule a call once both parties agree, beginning with a 2-minute audio chat before seamlessly transitioning into a video call.

    It’s important to note that while the male user’s video is always on, the female user has the autonomy to turn off her video if she wishes. This thoughtful setup not only lets you put a face to the voice but also prioritizes your comfort and safety, ensuring a secure and pleasant experience. We’re thrilled to share that this feature has garnered an overwhelmingly positive response, reflecting our commitment to enhancing connections while respecting privacy.

    We’ve received a flood of positive feedback, underscoring the value our video call feature brings to the table. By offering transparency, security, and comfort, we’ve cultivated a good online dating environment.

    StartupTalky: What new strategies and campaigns are being implemented to cater to the growing number of users?

    Saurabh: To meet the needs of our growing user community, Meet7 is taking creative steps and running impactful campaigns that set us apart from other dating apps. Our core belief, “meeting people not profiles,” is at the heart of everything we do. We recently launched the #NoCompromise campaign, featuring popular actors Sayani Gupta and Amol Parashar. This campaign highlighted our strong commitment to providing a top-notch dating experience without any compromise.

    We’ve designed Meet7 with a range of outstanding features that aim to make dating easy, safe, and enjoyable. Our main focus is on ensuring that users find their perfect match without having to settle for anything less. The #NoCompromise campaign captures this essence, encouraging users to pursue real connections without giving up on any important aspect.

    StartupTalky: What measures did Meet7 take to counter the rise of fake profiles with the increase in its user base?

    Saurabh: As our app gains more users, we’re taking strong steps to prevent fake profiles and create a secure environment. We’re using smart technology to double-check profiles by comparing the information with real selfies, so we know they’re real. For guys who want to join, we’ve added an extra layer of security. They need an invitation from a girl who’s already using the app, or they can connect through LinkedIn. This makes sure everyone is genuine.

    We’re also focused on making sure every part of the process is safe and comfortable. There are many features that work together to ensure this. And importantly, we want everyone to find a great match without having to compromise. We show a behavior score on guys’ profiles to help users see who they’re talking to and encourage friendly conversations. By putting all these steps together, we’ve created an app where real connections can happen without any worries.

    StartupTalky: How have users been responding to the Meet7 app?

    Saurabh: The user response has been incredibly positive, which is truly encouraging and motivating for our team. We’re delighted to see how well our platform has been received and how it’s making a difference in the online dating experience.

    StartupTalky: Is Meet7 funded?

    Saurabh: Yes, we have raised an angel round and are heading towards series one in the days to come.

  • Pawan Gupta, Co-founder and CEO, Shares Betterhalf’s Matrimony Journey: Growth, Strategies, and User Insights

    The pandemic brought about big changes in how people approach relationships online. Matrimonial websites witnessed notable changes as individuals sought connections in an altered digital landscape. Betterhalf, a prominent player in the Indian matrimony scene known for its AI-powered matchmaking, emerged as a notable example.

    In a recent interview with Pawan Gupta, co-founder and CEO of Betterhalf, we gained valuable insights into the platform’s journey. From navigating the pandemic-induced challenges to implementing unique strategies, Pawan’s words shed light on Betterhalf’s strong commitment to creating real and meaningful connections.

    Now, let’s take a closer look at Pawan’s responses, which offer insights into Betterhalf’s journey and the strategies that have driven its growth in this transformed matrimony landscape.

    StartupTalky: What were the key reasons behind the growth of matrimonial sites during the pandemic?

    Pawan: The impact of the lockdown on COVID-19 had been noticed greatly on matrimonial websites with their huge growth. Several matrimonial sites have witnessed huge growth in their customer bases. During the pandemic, most people were limited to their houses and spent more time browsing online matrimonial sites to find the right match.

    1. Special offers provided by the Matrimony apps during lockdown
    2. Launch of new services to make matrimony apps more attractive and informative, like horoscope matching, wedding planning, pre-bridal dieticians, and lots more.
    3. We realized the value of love and companionship.

    StartupTalky: What new strategies and campaigns are implemented by Betterhalf to cater to the growing number of users?

    Pawan: The new strategies and campaigns implemented to cater to the growing number of users are:

    1. Viral tweet campaign
    2. Celebrity Sheeba Chadha as Asha Ji campaign
    3. Wedding planning as a service

    StartupTalky: What did the growth numbers look like for the key metrics (DAU, MAU, conversion rates, and revenue growth) during the lockdown?

    Pawan: Our growth metrics include:

    • Revenue: Grew from $75,000 to $200,000 per month in 12 months.
    • Userbase: Monthly 3L MAU to 1M in 12 months
    • Paid user retention: 12 months to over 26 months
    • Renewal Rate: Grew from 30% to over 50% in 12 months.
    • Total Marriages Till Date: 15,000+

    StartupTalky: Which new features contributed to the growth of the Betterhalf matrimonial website?

    Pawan: The new features contributing to the growth of Betterhalf are:

    1. Asha Jii: WhatsApp Chatbot: To humanize its AI-backed matchmaking process for urban Indians, the company has introduced Asha Ji to deliver a personalized experience in helping users choose their perfect match. The Whatsapp interaction is portrayed by the face and voice of Sheeba Chadha to deliver a relatable conversational tone to help users feel connected.
    2. Wedding planning services in Bengaluru: The Betterhalf app now offers complete wedding planning services to its customers, including venue booking, wedding photography, decoration, catering, makeup artist, wedding loans, etc.
    3. Tech-enabled matchmaking ring: Perfect PaiRing works by gauging the wearer’s body’s responses to estimate if they’re an ideal match for them. Betterhalf’s algorithm makes an assessment, and the wearer gets a detailed compatibility chart on their phones with a compatibility percentage telling them if they’re their ideal match.

    StartupTalky: Any insights around the target audience of Betterhalf during the pandemic? What was the demographic of the newest registered user profile?

    Pawan:

    • Women: 25%
    • Men: 75%
    • Tier-1 and Tier-2 cities majorly, followed by others.

    StartupTalky: What measures did Betterhalf take to counter the rise of fake profiles during the pandemic?

    Pawan: At Betterhalf, we make privacy our top priority. It is the core of the way we have built the product so that anyone who chooses Betterhalf can fully trust us and render their focus on building meaningful connections in search of a life partner. We promise not to compromise our subscriber’s privacy. We have designed our product keeping their privacy in mind.

    With the amalgamation of various experts in the fields of legal, security, engineering, and product design, we make sure that no decision related to your privacy is taken without your consent. We strive to be transparent while processing your data. We understand that insufficient information and overly complicated language are common issues in companies’ privacy policies.

    So, as a result, we have taken a different approach: we have formulated our Privacy Policy and other documentation in much simpler language, just to give you a better and clearer picture of our practices. We make sure your personal information is secure. We have allotted different teams to keep your data safe and secure. We constantly update our security to enhance the safety of your personal information.

  • Leveraging .NET and SQL to Transform Data-Driven Operations in Finance and Healthcare

    In an age where data drives decision-making, industries like finance and healthcare face the twin challenges of managing enormous amounts of sensitive information while ensuring security, efficiency, and accuracy. Azra Jabeen Mohamed Ali, an experienced software professional, has spent her career addressing the challenges related to data, specific to these industries by combining the capabilities of .NET and SQL.

    Over the years of her work, she has comprehended the challenges that these industries experience. Whether working on a SQL database to improve the speed of financial transactions or developing data systems for compliance with Health Care laws, the projects she undertakes are technical and strategic.

    Among the achievements it is worth mentioning that Ali spearheaded the creation of a. NET-based data processing system that links up SQL databases to alter financial reporting. For instance, through changing data pipelines and improving SQL queries, she achieved 40% efficient data processing, which helped in on-time decision-making and realistic revenue estimations.

    To tackle the issue of scalability, she implemented Advanced SQL Query Optimization for High-Volume Financial Data and led the task of enhancing complicated SQL queries utilized by the financial institution to process transactions. This initiative had an impact on operational efficiency, and also in scaling the operations with confidence.

    For the healthcare sector, Ali designed an SQL database system that she named as the Patient Financial Management System. With .NET for the application layer, she increased the data retrieval and reporting by 30% which boosted the patient care processes and compliance with the legal requirements such as HIPAA. These mainly paved the way for long-term sustainability and stability.

    In addition, she developed an effective. NET-based solution for real-time analysis, data normalization, and automation using the SQL database to enhance decision-making, and information exchange and to minimize paperwork. She also spearheaded to move both the finance and healthcare data systems to the cloud and used .NET to integrate with other SQL-based systems. The migration enhanced the availability of data and helped to cut IT expenses. Consequently, the organization was able to increase its storage capacity by 50%, without having to make extra expenses.

    Ali’s work for results also meant giving some consideration to issues. One of them was to solve the issue of SQL query speed when working with large amounts of transactional data. By using factors such as indexing, restructuring the queries, and SQL Server partitioning, she has been able to cut query execution time by half. It was this improvement that greatly boosted the efficiency of the system making business financial reporting faster.

    Security and compliance have always been central to Ali’s approach. In projects involving sensitive data, such as patient records and financial transactions, she implemented measures like role-based access control (RBAC) and SQL Server’s Transparent Data Encryption (TDE). These steps ensured compliance with strict regulations like PCI DSS and HIPAA, which also built trust with stakeholders.

    She also had to tackle resistance from stakeholders who relied heavily on legacy systems or manual work, for which she worked closely with cross-functional teams to understand their needs, and conducted regular training sessions on the new. NET-based tools and SQL reporting systems emphasizing the benefits in terms of efficiency and accuracy. She also provided documentation and hands-on support during the transition. The results included a 90 percent adoption rate for users within the first three months.

    Ali’s innovative mindset is also evident in her leadership during major projects. For instance, she played an important role in developing an Equity Portfolio Management System (EPMS) for a financial services company, consolidating siloed data from risk management, investments, and accounting into a centralized reporting framework. Her efforts improved reporting accuracy by 40% and enabled more comprehensive financial analysis, underscoring her ability to align technical solutions with business objectives.

    Talking about integrating data, she also led the creation of a real-time financial reporting tool for a healthcare institution, integrating data from multiple legacy systems and optimizing SQL queries for real-time performance. This tool reduced the time needed to generate reports by 50%, providing executives with swift access to data and enabling quick decision-making.

    She also wrote research papers exploring topics on database and application optimization, including best practices for maximizing SQL Server performance and implementing User Defined Table Types (UDTT) in C# for efficient bulk data storage, SQL Meets JSON – Leveraging Relational Data formats, Ensuring Secure Access-Authentication and Authorization in ASP.NET Web API, which shows her interest in propelling the field forward.

    Looking at the current trends she emphasizes on two domains, one being on security and another on the integration of data. She stresses the role of data protection and security, especially in fields such as finance and healthcare where adherence to norms such as HIPAA or PCI DSS is mandatory. She said that role-based access control (RBAC), multi-factor authentication (MFA), and end-to-end encryption are the most adopted security protocols to protect data, while AI security and the zero-trust architecture are trending at the current moment in security.

    Furthermore, with regard to the integration of data, the challenge is solved using cloud-native tools, API interfaces, and data lakes. Data integration initiatives need to be tied to specific business goals in order to achieve favourable results, and real-time integration of healthcare equipment and financial transaction systems via IoT and edge computing will become standard.

    In an era where everything is dominated by data, through the utilization of the opportunities provided by .NET and SQL, Azra Jabeen Mohamed Ali has contributed greatly towards demonstrating how technology and data can be used in order to stumble upon solutions.

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  • Top 10 Startups in Europe

    Europe is a hub for numerous innovative and ambitious startups. The European Silicon Valley in Europe is Tallinn, the capital of Estonia. Tallinn has one of the highest startups per capita rate that has led to many innovative ventures and startups in Europe. In 2019, European startups raised 38.8 billion euros in risk funding, 42.6% more than in 2018, 27.2 billion euro.

    But the fragmentation of the EU market is the greatest enemy of startups in Europe, which is declining, but is not quick enough, due to the solid, consistent and consistent advocacy. There is a bit of hope to speed up the development in the European startup ecosystem due to ongoing pandemic.

    Startups in Europe was struck hard over the first few months of Covid-19. By June 2020, almost half (49 percent) of European entrepreneurs had to resort to banks in recent months for government-backed loans. That was the difficult phase ever faced by the startup ecosystem in Europe. In this article, we have listed down the top 10 startups in Europe that are still functional amid the COvid-19 pandemic. Read the article till the end.

    Startups in Europe
    1. Delivery Hero
    2. Brainly
    3. Monzo
    4. BlaBlaCar
    5. N26
    6. eToro
    7. Klarna
    8. Rapyd
    9. TransferWise
    10. The Hut Group

    Startups in Europe

    The European Union is the second strongest economy in the world followed by the United States. In 2018, the EU GDP was projected at $18.8 trillion (nominal), or nearly 22% of the world economy (Source). In the last two decades, Europe has the largest enrollment in tertiary education after North America and this enrollment ratio has risen exponentially. Now let us have an overview of the top 10 startups in Europe that are growing at a rapid pace.

    Here are the Top 10 Startups in Europe to look after in 2023:

    1. Delivery Hero

    Startup Delivery Hero
    Co-founders Claude Ritter, Dave Bailey, Kolja Hebenstreit, Lukasz Gadowski, Markus Fuhrmann, Nikita Fahrenholz, Niklas Ostberg, Tracy Richardson
    Industry E-Commerce
    Headquarter Berlin, Germany

    Top 10 Startups in Europe - Delivery Home
    Top 10 Startups in Europe – Delivery Home

    Delivery Hero SE has a headquarters in Berlin, Germany, as a European international online food service. The business works globally and with over 500,000 restaurants in over 40 countries in Europe, Asia, Latin America and Middle East. Over 666 million orders were delivered in 2019 by Delivery Hero. Delivery Hero is the largest local supply network in the world, working in Asia, Europe, Latin America, the Middle East and North Africa in over 40 countries. The business began distributing food in 2011 and is now operating its own sourcing platform on four continents.

    Delivery Hero is also the founder of rapid trading, the new wave of e-commerce, targeted at delivering food and home commodities to consumers in less than 20 minutes. The business has more than 27,000 personnel and headquarters in Berlin, Germany. Since 2017 Distribution Hero has been listed on the Frankfurt bursary and became part of the leading DAX index in 2020.

    2. Brainly

    Startup Brainly
    Co-founders Lukasz Haluch, Michał Borkowski, Tomasz Kraus
    Industry EdTech
    Headquarter Kraków, Poland

    Top 10 Startups in Europe - Brainly
    Top 10 Startups in Europe – Brainly

    Brainly is for pupils, parents and teachers the world’s biggest peer-by-peer learning group. At brainly.com and its website community around the world, students are linked with homework issues and questions and get assistance with them. This is the rare opportunity for students to inquire honestly and build the confidence they need to support others and encourage them to learn in a shared environment that receives more than 350 million users per month.

    Brainly is currently accessible in 35 countries with its USA headquarters in New York, United States. Present investors including General Catalyst Partners, Nine Capital, Runa Capital or Learn Capital are worth $150 million in overall financing.

    Brainly. For students, by students.

    3. Monzo

    Startup Monzo
    Co-founders Gary Dolman, Jason Bates, Jonas Huckestein, Paul Rippon, Tom Blomfield
    Industry FinTech
    Headquarter London, UK

    Top 10 Startups in Europe - Monzo
    Top 10 Startups in Europe – Monzo

    Monzo is a smart banking option as an app-based mobile bank. It features a Debit Card for MasterCard that operates much like a standard current account, the only difference is that it all runs online. In 2015, Monzo Bank was initiated as Mondo for the first time. It gathered momentum as one of the most quickly expanding campaigns funded by the crowd in history, which raised a million dollars in minutes.

    Today Monzo provides a new form of banking; a smartphone app handles and operates an account completely. Monzo provides features to boost your budget, help you learn, coordinate your finances and incorporate practicalities to handle your daily finances.

    4. BlaBlaCar

    Startup BlaBlaCar
    Co-founders Francis Nappez, Frédéric Mazzella, Nicolas Brusson
    Industry Transportation
    Headquarter Paris, France

    Top 10 Startups in Europe - BlaBlaCar
    Top 10 Startups in Europe – BlaBlaCar

    BlaBlaCar is the French online driving business with empty seats in their cars that mixes people commuting between cities. Many people drive on a long-distance drive from Switzerland to or around Germany. On the website, you post your path. You can link with them and fly to your destination at a charge if your journey is the same as them.

    The creators Nicolas Brusson and Frederic Mazzella found it difficult to convince investors or consumers of the concept when it was founded in 2006. Today’s BlaBlaCar prominence and performance will regret any investor who turned BlaBlaCar down 10 years ago.

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    5. N26

    Startup N26
    Co-founders Maximilian Tayenthal, Valentin Stalf
    Industry FinTech
    Headquarter Berlin, Germany

    Top 10 Startups in Europe - N26
    Top 10 Startups in Europe – N26

    N26 is a cost-free “deposit account” that you can open directly from your smartphone or desktop in less than 8 minutes. Any time, as many times as you choose, you can deposit cash or moves money from another account. You can also borrow cash from the account at an ATM, transfer cash to other accounts, or use the bank or direct debit card to buy cash.

    With a conventional bank, the N26 bank account and Mastercard can do little but comfortably from both locations. Each account is secured in all countries where N26 is available by the German Bank’s Payout Scheme up to €100,000.

    6. eToro

    Startup eToro
    Co-founders David Ring, Ronen Assia, Yoni Assia
    Industry FinTech
    Headquarter London, UK

    Top 10 Startups in Europe - eToro
    Top 10 Startups in Europe – eToro

    eToro will describe itself as a trading site that contains an investment social aspect. I will characterize them as trading Facebook. They first came into being in 2006 and now represent the world’s biggest investment network with 4.5 million subscribers. Possibly ‘CopyTrader’ is the special attribute of eToro.

    This helps you to filter through other users and see clearly how much they have done or lost over a period of time. The ‘Famous Investors’ software is another huge plus. This pays customers on the basis of the monthly commission in the form of how many copiers they have.

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    7. Klarna

    Startup Klarna
    Co-founders Niklas Adalberth, Sebastian Siemiatkowski, Victor Jacobsson
    Industry FinTech, E-Commerce
    Headquarter Stockholm, Sweden

    Top 10 Startups in Europe - Klarna
    Top 10 Startups in Europe – Klarna

    In Stockholm, Sweden, in 2005, Klarna was formed. It offers 205,000 traders in 17 countries payment solutions. The business tells 85 million clients that it transactions one million a day. The business is one of the leading corporations in Europe and functions as a bank. Sequoia Money and Visa are among the developers.

    It has the goal of transforming how customers pay for goods online. It’s financial services business. There is a “buy now, pay later” service which enables online retailers to buy without paying in advance. Consumers will either pay for their transactions every two weeks or the whole balance within 30 days in four interest rate installments. They will have six to 36 months to fund their acquisition. Klarna opened its headquarters in the North American office in Columbus, Ohio in 2014. New York and Los Angeles and big cities around Europe are other office sites.

    8. Rapyd

    Startup Rapyd
    Co-founders Arik Shtilman, Arkady Karpman, Omer Priel
    Industry FinTech
    Headquarter London, UK

    Top 10 Startups in Europe - Rapyd
    Top 10 Startups in Europe – Rapyd

    Rapyd’s payments network provides fintech services in each app and makes local payment processes more dynamic. It helps e-commerce vendors, concert sites, challengers’ accounts, cash flows, internet lenders, and mainstream banks to break out of their old networks and constraints and build new mobile solutions. Company and customer transactions can take place in any market through the payment network of Rapyd and Fintech-as-a-Service.

    With the 900+ payment methods integrating in over 100 countries, the Rapyd network unifies the fragmented payment networks. The company is funded by investors such as Stripe, General Catalyst, Oak FT, Coatue, Tiger National, Resilient Capital and TaL Capital.

    9. TransferWise

    Startup TransferWise
    Co-founders Kristo Käärmann & Taavet Hinrikus
    Industry FinTech
    Headquarter New York, NY

    Top 10 Startups in Europe - TransferWise
    Top 10 Startups in Europe – TransferWise

    TransferWise is a cheap means of transferring money from the U.S. to nearly 80 countries. Any of the highest exchange rates you can find. You may use a bank account or a credit card to finance a payment, but the receiver needs to have a bank account. People who want low costs and a strong web interface internationally when they submit money.

    People who want low costs and a strong web interface internationally when they submit money. For certain nations, the fixed cost is a mix of about $1 to less than 1 percent of the transfer volume. Higher credit card rates. In comparison to banks and other firms, TransferWise does not bill its transactions with exchange rate markups. The mid-market average, fluctuating minute by minute, is aimed.

    10. The Hut Group

    Startup The Hut Group
    Co-founders Matthew Moulding
    Industry E-Commerce
    Headquarter London, UK

    Top 10 Startups in Europe - The Hut Group
    Top 10 Startups in Europe – The Hut Group

    The Hut Group is an online marketplace that provides its own items for beauty and fitness, premium and other well-known brands. The vertically integrated model of this structure enables the company, which funds its “all-in-one growth platform,” called Ingenuity, to deal with everything from product design, production and online distribution and logistics.

    The Hut Group raised £188 billion in the United Kingdom, when it started trading on the London Börse. A UK tech firm, with 376 273 998 shares in total, has been the largest freight company since 2015. Matthew Moulding and John Gallemore formed the collective in 2004.

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    FAQs

    What are the top Startups in Europe?

    Below is the list of top 10 startups in Europe:

    • Delivery Hero
    • Brainly
    • Monzo
    • BlaBlaCar
    • N26
    • eToro
    • Klarna
    • Rapyd
    • TransferWise
    • The Hut Group

    What is Brainly about?

    Brainly is for pupils, parents and teachers the world’s biggest peer-by-peer learning group. At brainly.com and its website community around the world, students are linked with homework issues and questions and get assistance with them.

    Who founded Delivery Hero?

    Claude Ritter, Dave Bailey, Kolja Hebenstreit, Lukasz Gadowski, Markus Fuhrmann, Nikita Fahrenholz, Niklas Ostberg, and Tracy Richardson are the co-founders of Delivery Hero.

  • Best Chat GPT Prompts to Unleash Als Potential

    Welcome to the ultimate guide for unleashing the full potential of ChatGPT through engaging and thought-provoking conversations. We, at StartupTalky – believe in providing our readers with the best information, served on a platter and this manual is no different. ChatGPT, developed by OpenAI, is an AI chatbot that has changed the way we interact with artificial intelligence, forever. With the right prompts, ChatGPT can be an incredible tool for sparking creativity, exploring new ideas, and providing valuable insights.

    In this comprehensive guide, we will explore a wide range of ChatGPT prompts that cater to various interests and topics. From creative writing and personal growth to entertainment, programming, and more, we have curated the top ChatGPT prompts that will help you make the most of this cutting-edge AI technology.

    So, hold on to your horses as we discover exciting new ways to engage with ChatGPT!

    Best ChatGPT Prompts for Education
    Best ChatGPT Prompts for Professional Development
    Best ChatGPT Prompts for Entertainment and Pop Culture
    Best ChatGPT Prompts for Lifestyle and Hobbies
    Best ChatGPT Prompts for Social Issues and Ethics
    Best ChatGPT Prompts for Relationships and Love

    What are ChatGPT Prompts?

    ChatGPT prompts are the questions or statements that you provide to initiate a conversation with the extremely popular AI chatbot. Now, almost everyone knows that effective prompting is essential for guiding the AI’s output and generating relevant and accurate responses. The choice of words, clarity of instructions, and context provided in the prompts play a crucial role in maximizing the AI’s potential.

    The key to effectively using ChatGPT prompts is to be clear and specific in your instructions. Crafting well-structured prompts helps guide the model’s output, enabling it to produce more accurate and desired results. Users can experiment with different phrasing, keywords, and context to fine-tune the responses they receive. It’s important to note that while ChatGPT can generate high-quality content, it may also produce occasional inaccuracies or nonsensical responses. Users should exercise critical thinking and review the generated text as needed.

    The Power of ChatGPT Prompts

    ChatGPT’s natural language processing ability allows it to excel at answering questions and providing information on a wide range of topics. Whether you’re looking for writing inspiration, personal growth insights, educational resources, professional development advice, entertainment recommendations, or guidance on social issues and ethics, ChatGPT can be your knowledgeable and engaging conversational partner.

    Crafting effective ChatGPT prompts involves three key points: clarity and context, specificity, and experimentation. Understand this: clear and concise language, providing sufficient context, being specific with your questions or requests, and experimenting with different approaches – is imperative to generate responses that align with your expectations and unlock the full potential of ChatGPT.

    ChatGPT Prompts Life Hacks

    Best ChatGPT Prompts for Creative Writing

    ChatGPT can be a valuable partner in your creative writing journey. With the right prompts, you can quickly generate story ideas, develop characters, explore different genres, and create entire fictional worlds. Here are some prompts to spark your creativity:

    Story Starter ChatGPT Prompts

    1. Begin a story with an unexpected encounter that changes the protagonist’s life forever.
    2. Create a story starter about a character who discovers a mysterious object with magical powers.
    3. Imagine a story that starts with a group of friends stumbling upon a hidden portal to a parallel universe.

    Dialogue ChatGPT Prompts

    1. Generate a conversation between two characters discussing a life-altering decision.
    2. Come up with a dialogue between a detective and a suspect during a high-stakes interrogation.
    3. Create a conversation between two friends discussing their dreams and aspirations.

    ChatGPT Prompts for Plot Twists

    1. Provide a plot twist that completely changes the outcome of a story about love and betrayal.
    2. Suggest a twist that reveals a hidden motive of one of the main characters in a murder mystery.
    3. Come up with a plot twist that turns the protagonist into the antagonist and vice versa in a fantasy adventure.
    4. Draft a compelling twist around two characters in a thrilling story based on an imaginative region with a different set of laws.

    Genre-Specific ChatGPT Prompts

    1. (Sci-fi) Write an outline for an exciting storyline that explores the consequences of time travel on the fabric of reality.
    2. (Fantasy) Create a story about a young hero’s journey to reclaim a lost artifact and restore balance to a war-torn world.
    3. (Mystery) Develop a plotline involving a detective who uncovers a web of corruption and conspiracy in a small town.

    Let your imagination run wild with these creative writing prompts and unleash the full potential of ChatGPT as your writing companion!

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    Best ChatGPT Prompts for Personal Growth

    In addition to its creative capabilities, ChatGPT can also offer valuable insights and guidance for personal growth. Through thought-provoking prompts, you can reflect on your values, set meaningful goals, overcome challenges, and enhance your emotional intelligence. Here are some prompts to foster personal growth:

    ChatGPT Prompts for Self-Reflection

    1. How can I cultivate greater self-awareness and leverage it for personal growth and emotional intelligence?
    2. Provide prompts for journaling or meditation to help me reflect on my personal growth and areas for improvement.
    3. What are realistic and meaningful personal goals that align with my values, and what steps can I take to achieve them?

    ChatGPT Prompts for Goal Setting

    1. How can I set effective short-term and long-term goals and create a roadmap to achieve them?
    2. What strategies can I use to prioritize my goals and ensure that I’m focusing on what truly matters to me?
    3. What are some realistic milestones I can set to track my progress toward my goals?

    ChatGPT Prompts for Overcoming Challenges

    1. What are some effective strategies for managing stress and maintaining mental well-being during challenging times?
    2. How can I develop resilience and adapt to unexpected changes or setbacks in my life?
    3. What lessons can I learn from past mistakes, and how can I use them to navigate future challenges?

    ChatGPT Prompts for Emotional Intelligence

    1. How can I improve my self-awareness and better understand my emotions, strengths, and weaknesses?
    2. What techniques can I use to manage my emotions effectively and maintain a balanced mindset?
    3. How can I enhance my empathy and develop better communication skills to foster stronger relationships?
    ChatGPT Prompt for Emotional Intelligence
    ChatGPT Prompt for Emotional Intelligence

    By engaging with these personal growth prompts, you can gain valuable insights, set meaningful goals, and overcome challenges with the support of ChatGPT as your personal growth companion.

    Best ChatGPT Prompts for Education

    ChatGPT’s vast knowledge base makes it an excellent resource for educational purposes. Whether you’re seeking information on science and technology, history and social studies, language, and literature, or math and logic, ChatGPT can provide valuable insights and explanations. Here are some prompts for educational exploration:

    ChatGPT Prompts for Science and Technology

    1. What are the most significant advancements in renewable energy, and how can they help combat climate change?
    2. Discuss the history and development of artificial intelligence, including its current applications and potential future impact.
    3. Explore the concept of quantum computing and its potential impact on various industries.

    ChatGPT Prompts for History and Social Studies

    1. Analyze the causes and consequences of the Industrial Revolution and its long-term effects on society.
    2. Discuss the impact of ancient civilizations, such as Egypt and Mesopotamia, on human history and culture.
    3. Explore the factors that led to the rise and fall of the Roman Empire and its lasting legacy.

    ChatGPT Prompts for Language and Literature

    1. Compare and contrast the writing styles and themes of William Shakespeare and Jane Austen.
    2. Discuss the significance of the Harlem Renaissance and its impact on African-American literature and culture.
    3. Analyze the use of symbolism and allegory in George Orwell’s “1984” and its commentary on totalitarianism.

    ChatGPT Prompts for Math and Logic

    1. Explain the concept of prime numbers and their applications in cryptography.
    2. Discuss the principles of game theory and how they can be applied to various real-world situations.
    3. Explore the concept of fractals and their relevance in mathematics and nature.

    Engage with these educational prompts to expand your knowledge, sharpen your critical-thinking skills, and satisfy your intellectual curiosity with ChatGPT as your virtual tutor.

    Best ChatGPT Prompts for Professional Development

    ChatGPT can also be a valuable resource for professional development, offering insights, advice, and strategies for enhancing productivity, communication, leadership, and networking skills. Here are some prompts to boost your professional growth:

    ChatGPT Prompts for Productivity and Time Management

    1. What are some effective time management techniques that can help me achieve more in a workday?
    2. How can I create a work-life balance that allows me to achieve my professional goals while maintaining my personal well-being?
    3. What strategies can I use to minimize distractions and maintain focus on high-priority tasks?

    ChatGPT Prompts for Communication and Interpersonal Skills

    1. How can I improve my active listening skills to foster more effective communication with colleagues?
    2. What are some actionable tips for delivering clear and concise presentations that engage and inform my audience?
    3. How can I navigate and resolve conflicts in the workplace while maintaining positive relationships?

    ChatGPT Prompts for Leadership and Management

    1. What qualities make a great leader, and how can I develop these traits to align with my company’s goals?
    2. How can I delegate tasks effectively to ensure that my team is working efficiently and collaboratively?
    3. What are some strategies for providing constructive feedback that promotes growth and improvement?

    ChatGPT Prompts for Networking and Personal Branding

    1. How can I obtain high-quality backlinks for my blog post to increase its visibility?
    2. How can I create a compelling personal brand that distinguishes me in my field and showcases my expertise?
    3. What strategies can I employ to leverage social media platforms for networking and personal branding purposes?

    Engage with these professional development prompts to enhance your productivity, communication skills, leadership abilities, and personal branding with ChatGPT as your professional growth companion.

    Best ChatGPT Prompts for Entertainment and Pop Culture

    ChatGPT can be an entertaining conversational partner when it comes to discussing movies, TV shows, music, books, and other aspects of pop culture. Here are some prompts to explore popular culture and discover new recommendations:

    ChatGPT Prompts for Movies and TV Shows

    1. Analyze the impact of streaming services on the television and film industries and how they’ve changed content consumption.
    2. Discuss the cultural significance and legacy of iconic franchises like Star Wars and their influence on popular culture.
    3. What are some underrated movies or TV shows from the 90s that deserve more recognition and why?

    ChatGPT Prompts for Music and Musicians

    1. Explore the evolution of music genres over the decades and their influence on modern music.
    2. Write meaningful lyrics about love, friendship, or personal growth.
    3. Who are some up-and-coming musicians or bands that you think will make a significant impact on the music scene?

    ChatGPT Prompts for Books and Authors

    1. Analyze the role of dystopian literature in reflecting and critiquing societal issues, using examples like “1984” and “Brave New World.”
    2. Discuss the enduring appeal of mystery novels and the elements that make them captivating.
    3. What are some must-read books from various genres that you would recommend to avid readers?

    ChatGPT Prompts for Trends and Viral Phenomena

    1. Explore the influence of internet memes on pop culture and how they shape online discourse.
    2. Discuss the rise of eSports and the factors contributing to their growing popularity.
    3. How have social media challenges and trends impacted the way we interact with one another and express ourselves online?

    Engage with these entertainment and pop culture prompts to discover new movies, TV shows, music, books, and trends with ChatGPT as your knowledgeable companion.

    Best ChatGPT Prompts for Lifestyle and Hobbies

    ChatGPT can be a fun and engaging companion when discussing various lifestyle topics and exploring new hobbies. Here are some prompts to enrich your daily life and pursue your interests:

    ChatGPT Prompts for Health and Wellness

    1. What are some practical tips for maintaining a healthy lifestyle, including diet, exercise, and mental well-being?
    2. How can I establish and stick to a regular exercise routine that suits my lifestyle and fitness goals?
    3. Discuss the benefits of mindfulness and meditation and how they can be incorporated into daily life.
    ChatGPT Prompts for Health and Wellness
    ChatGPT Prompts for Health and Wellness

    ChatGPT Prompts for Travel and Adventure

    1. What are some must-visit travel destinations around the world, and what makes them unique?
    2. How can I plan an eco-friendly and sustainable trip while minimizing my environmental impact?
    3. Discuss the benefits of solo travel and the personal growth opportunities it offers.

    ChatGPT Prompts for Cooking and Food

    1. Suggest delicious recipes for apple pie that incorporate unique ingredients.
    2. Provide ideas for a spicy energy drink and share recipes for creating it.
    3. What are some tips for creating healthy, delicious, and budget-friendly meals at home?

    ChatGPT Prompts for Arts and Crafts

    1. What are some beginner-friendly art techniques and mediums to explore for unleashing creativity?
    2. Discuss the therapeutic benefits of engaging in creative hobbies such as painting, knitting, or pottery.
    3. How can I find inspiration and motivation to pursue and develop my artistic skills?

    ChatGPT Prompts for Gardening and Nature

    1. What are some basic gardening tips for beginners looking to cultivate their own green space?
    2. How can I create an eco-friendly garden that promotes biodiversity and supports local wildlife?
    3. Discuss the physical and mental health benefits of spending time in nature and engaging in outdoor activities.

    Engage with these lifestyle and hobby prompts to enrich your daily life, pursue new hobbies, and explore various interests with ChatGPT as your knowledgeable companion.

    Best ChatGPT Prompts for Social Issues and Ethics

    ChatGPT can also provide valuable insights and perspectives on social issues and ethical questions. Here are some prompts to foster discussions on important topics:

    ChatGPT Prompts for Environmental Concerns

    1. Discuss the global implications of climate change and strategies to mitigate its effects.
    2. What are the most pressing environmental challenges faced by society, and how can individuals contribute to their resolution?
    3. Analyze the ethical implications of using natural resources and the responsibility of businesses and governments in promoting sustainability.

    ChatGPT Prompts to Develop Key Messages in Social Justice

    1. Explore the concept of social justice and the role of activism in promoting equality and fairness.
    2. Discuss the impact of systemic racism on marginalized communities and steps that can be taken to address these issues.
    3. Analyze the importance of advocating for and protecting human rights in the global community.

    ChatGPT Prompts for Technology and Privacy

    1. Explore the ethical implications of data collection and privacy in the digital age, considering the balance between security and personal freedom.
    2. Discuss the potential consequences of relying heavily on technology and the importance of maintaining human connection in an increasingly digital world.
    3. What are the ethical concerns surrounding the development and deployment of artificial intelligence, and how can these be addressed?

    ChatGPT Prompts for Healthcare and Bioethics

    1. Analyze the ethical considerations of universal healthcare and its impact on society.
    2. Discuss the moral implications of medical advancements, such as genetic engineering and cloning, and their potential consequences for humanity.
    3. Explore the ethical challenges faced by healthcare professionals in providing care and making difficult decisions that impact patients’ lives.
    ChatGPT Prompts for Health Care and Bioethics
    ChatGPT Prompts for Health Care and Bioethics

    Engaging with these prompts will allow you to delve into social issues, and ethical questions, and promote open-mindedness and critical thinking with ChatGPT as your insightful companion.

    Best ChatGPT Prompts for Relationships and Love

    Relationships and love are fundamental aspects of the human experience, and ChatGPT can provide insights and guidance in navigating these complex areas. Here are some prompts to foster deeper understanding and personal growth in relationships:

    ChatGPT Prompts for Romantic Relationships

    1. What are the key ingredients for a healthy and successful romantic relationship, and how can they be nurtured?
    2. How can I effectively communicate my needs and boundaries in a relationship to foster mutual understanding and respect?
    3. Discuss the role of trust, compromise, and personal growth in maintaining a long-lasting partnership.

    ChatGPT Prompts for Friendships

    1. What are the characteristics of a strong friendship, and how can I cultivate and maintain meaningful connections with others?
    2. How can I navigate conflicts and misunderstandings in friendships while preserving the bond?
    3. Discuss the importance of having a diverse group of friends and the benefits of engaging with people from different backgrounds and experiences.

    ChatGPT Prompts for Family Relationships

    1. What strategies can I use to strengthen family bonds and maintain open and honest communication with my loved ones?
    2. How can I support and empathize with family members during challenging times while taking care of my own well-being?
    3. Discuss the impact of family dynamics on personal development and the importance of setting healthy boundaries with relatives.

    ChatGPT Prompts for Self-Love and Personal Growth

    1. How can I cultivate self-love and practice self-compassion in my daily life, fostering a healthy relationship with myself?
    2. What are some strategies for overcoming self-doubt and building self-confidence in various aspects of my life?
    3. Discuss the role of self-awareness and introspection in understanding our needs and desires in relationships and personal growth.

    As a user, you can engage with these prompts to deepen your understanding of relationships, foster personal growth, and enhance your connections with others and yourself with ChatGPT as your supportive companion.

    FAQs

    1)Can we use ChatGPT Prompts for Networking and Personal Branding?

    Yes, We can use ChatGPT Prompts for networking and branding.

    2)What kind of ChatGPT Prompts can we use for health and wellness?

    Some of the ChatGPT Prompts that we can use for Health and Wellness are:
    What are some practical tips for maintaining a healthy lifestyle, including diet, exercise, and mental well-being?
    How can I establish and stick to a regular exercise routine that suits my lifestyle and fitness goals?
    Discuss the benefits of mindfulness and meditation and how they can be incorporated into daily life.

    3)What are the things to keep in mind before writing a ChatGPT Prompt?

    Some important things to note before writing a ChatGPT Prompt are clear and concise language, providing sufficient context, being specific with your questions or requests, and experimenting with different approaches.

  • Built: Construction and Real Estate Platform Transforming the Loan Management Process

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    When it comes to construction lending, the application process moves quite slowly, leading to delayed and inefficient construction projects. Even when project directors verify that every document is accurate, they can still get hamstrung by the lending procedure.

    A fintech company, Built Technologies, popularly recognized as Built, proves with its construction and real estate finance platform that such wrinkles in the construction lending process can be smoothed out, resulting in the timely completion of construction work. It is a U.S.-based company fixing lending and spending for the construction and real estate finance ecosystem.

    In this article, we will delve into the success story of Built, including its founders, startup story, business and revenue model, funding, growth, and more.

    Built – Company Highlights

    Company Name Built Technologies
    Headquarters Nashville, Tennessee, United States
    Sector Fintech
    Founders Chase Gilbert, Scott Sohr, and Andrew Sohr
    Founded 2014
    Valuation $1.5 billion (2021)
    Website Getbuilt.com

    About Built
    Built – Industry
    Built – Founders and Team
    Built – Startup Story
    Built – Mission and Vision
    Built – Business Model
    Built – Revenue Model
    Built – Products and Services
    Built – Challenges Faced
    Built – Funding and Investors
    Built – Mergers and Acquisitions
    Built – Growth
    Built – Partners
    Built – Awards and Achievements
    Built – Competitors
    Built – Future Plan

    About Built

    Built, incorporated as Built Technologies, is an enterprise technology company that provides construction and real estate finance platforms. Its centralized platform enables increased efficiency, transparency, collaboration, and business agility while reducing risk and allowing companies to improve how communities around them are built and managed.

    The company serves over 270 leading lenders and asset managers and thousands of developers, contractors, and home builders across Portland, Los Angeles, Seattle, Atlanta, and many other cities in the United States.

    Built – Industry

    Built Technologies, Inc. caters to the financial technology industry, particularly the construction fintech sector. In 2018, the revenue of the fintech industry worldwide was approximately 92 billion euros and is projected to increase by nearly 12%, amounting to 188 billion euros by 2024.

    With fintech allowing financial institutions and companies to provide convenient services and help maintain transparency in financial inclusions, it has primarily driven the global market. Moreover, during COVID-19, the adoption of online and digitized financial products significantly increased, positively impacting the fintech industry’s revenue growth. Bankable, Blockstream Corporation Inc., Cisco Systems Inc., and Circle Internet Financial Limited are some leading companies in the fintech industry.

    Fintech Sector Worldwide Revenue
    Fintech Sector Worldwide Revenue

    Built – Founders and Team

    Chase Gilbert, Scott Sohr, and Andrew Sohr are the co-founders of Built.

    Chase Gilbert

    Chase Gilbert - Co-founder and CEO, Built
    Chase Gilbert – Co-founder and CEO, Built

    Chase Gilbert is the Co-founder and CEO of Built. He completed his graduation in Finance and International Business from the University of Tennessee. Before co-founding Built Technologies Inc. in 2014, he was the Partner and Investor at Taziki’s Mediterranean Café (Green Hills).

    Scott Sohr

    Scott Sohr - Co-founder, Built Technologies
    Scott Sohr – Co-founder, Built Technologies

    Scott Sohr graduated from Auburn University in Mechanical Engineering and completed an MBA from Vanderbilt University. Currently, he is the President at STS Ventures Nashville and Canary Ventures. In addition to Built Technologies, Inc., Scott is the Co-founder of Elmington Capital Group and Correct Care Solutions.

    Andrew Sohr

    Andrew Sohr - Co-founder, Built Technologies
    Andrew Sohr – Co-founder, Built Technologies

    Co-founder of Built Technologies, Inc., Andrew Sohr, studied Management at The London School of Economics and Political Science and earned a Bachelor’s degree in Business Economics from the University of San Diego. Moreover, he owned and invested in Taziki’s Mediterranean Café from 2011 to 2013.

    Built is currently working with approximately 350+ employees.

    Built – Startup Story

    Built was co-founded by Chase Gilbert, Scott Sohr, and Andrew Sohr in 2014. Andrew Sohr was the impetus for the company. He was involved in multiple construction projects and was dealing with many lenders for the same projects. Andrew was frustrated with every lender’s application process because each loan application differed. He said the unique application process for construction loans was not required. Moreover, the construction loan lending procedure also worked slowly.

    Chase, Scott, and Andrew discussed Andrew’s problem and possible solutions. It was when Andrew had this idea that there had to be a better way with technology. And three of them started figuring out what is the better way and how does this work. They talked to the lenders, inspectors, and everyone involved to understand why the loan process works the way it works. And then they obsessed over thinking about how it should work to make things better.

    It was when they came up with Built Technologies in 2014 to improve the lives of project owners, bank lenders, contractors, inspectors, subcontractors, and other parties involved.

    Amid Covid19, Built launched a Portfolio Monitoring Solution for construction lenders, and in February 2021, it launched revolutionary enhancements to make the platform’s Billing process more visible. In December 2021, the company announced Built Pay to simplify the construction community’s payment-making and receiving process. A year later, it launched Inspection Technology & Services Solutions in November 2022. In April 2013, Built launched a new business unit focused on commercial property developers.

    Built – Mission and Vision

    Built aims to improve the outcomes for those involved in building and managing the world. The company’s vision is to become one of the most important and trusted partners in the built world.

    Built – Business Model

    Built’s collaborative construction and real estate finance software streamlines the collateral monitoring and draw management process to reduce construction loan risk, transform borrower experience, increase loan profitability, simplify compliance, and provide portfolio insights.

    This platform allows lenders to access real-time data to make more informed construction portfolio-related decisions. Moreover, it provides borrowers with a convenient digital experience with faster access to money to complete construction projects on time.

    Built has managed around 200,000+ projects worth $135B construction volume and has protected approximately $24 billion in payments.

    Built – Revenue Model

    Built earns revenue by providing construction financing solutions for lenders, inspectors, builders, contractors, and subcontractors.

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    Built – Products and Services

    Built provides a construction and real estate finance platform. In addition, the company offers Construction Loan Administration, Project Pro, Inspections Technology and services, and Title Search for construction lending for CRE Management, facilitate Deal Management, Pipeline Management, Portfolio and Asset Management, and Underwriting.

    Built – Challenges Faced

    In February 2023, Built laid off around 8% of its workforce, and five months later, it underwent another round of employee cuts. The company’s CEO, Chase Gilbert, said in February that downsizing was done due to the rapidly changing business climate.

    Built – Funding and Investors

    Built has successfully acquired nearly $312.7 million by undertaking seven funding rounds. Its latest funding round – Venture Series Round, was completed on April 13, 2023. The company’s leading investors include Fifth Wall, Citi, Nine Four Ventures, HighSage Ventures, Brookfield Growth, TCV, XYZ Venture Capital, and others.

    Date Round Number of Investors Money Raised Lead Investor
    April 13, 2023 Venture Round 1 – Citi
    July 13, 2022 Private Equity Round – $23.6 million –
    September 30, 2021 Series D 10 $125 million TCV
    February 4, 2021 Series C 15 $88 million Addition
    April 29, 2019 Series B 6 $31 million Goldman Sachs Investment Partners
    March 28, 2019 Series B – $24.1 million –
    November 14, 2017 Series A 3 $21 million Index Ventures

    Built – Mergers and Acquisitions

    Built has acquired two companies with Nativ as its recent acquisition. Nativ was acquired on July 29, 2022, and lienwaivers.io on January 21, 2020.

    Built – Growth

    In 2021, Built secured a $1.5 billion valuation and turned into a unicorn after its new venture funding round. The company’s team headcount doubled in 2021 to 330 employees. Since 2017, Built has more than tripled its customer base. In addition, the company managed a total construction value of over $200 billion for lenders and builders, securing 144% YOY in 2021.

    Construction Lending. Built the way it should be.

    Built – Partners

    Built has secured partnerships with the following companies:

    • GreenState Credit Union
    • Fulton Mortgage Company
    • Encompass
    • Sage
    • Black Knight
    • PandaDoc
    • Procore
    • Jack Henry & Associates Inc.
    • American Bankers Association

    Built – Awards and Achievements

    Built is recognized by industry leaders with several accolades, some of them are as follows:

    • Listed as one of the Tennessean’s Top Workplaces in 2022
    • Won 20th Annual American Business Awards in the ‘FinTech Solution’ and ‘Most Innovative Tech Company of the Year’ categories in 2022
    • GGV Capital and Crunchbase named Built to Inaugural SMBTech 50 list in 2022
    • Named a Top Tech Firm in Mortgage Finance by HousingWire in 2018

    Built – Competitors

    Here listed are some main competitors of Built:

    • Lending Club
    • LendingPad
    • Finflux
    • Sageworks Lending
    • Encompass Digital Mortgage Solution

    Built – Future Plan

    Built plans to launch its first commercial property developer product in 2023.

    FAQs

    What is Built about?

    Built, incorporated as Built Technologies, is an enterprise technology company that provides construction and real estate finance platforms.

    Who are the founders of Built Technologies?

    Chase Gilbert, Scott Sohr, and Andrew Sohr co-founded Built Technologies in the year 2014.

    Who are the main competitors of Built Technologies?

    The main competitors of Built Technologies include Lending Club, Lending Pad, Finflux, Sageworks Lending, and Encompass Digital Mortgage Solution.