Bengaluru Startup Archives

Digit Insurance: Revolutionizing General Insurance Through Technology

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Life is risky and uncertain. We don’t know what is waiting for us. One may face an untimely death or lose a limb at a time. Accidents do not appear after knocking on your front door, we just meet with them unexpectedly.

Digit Insurance is a security provider for all the insecurities that may occur in one’s life. It has a range of insurance policies such as Bike Insurance, Commercial Vehicle Policy, Car Insurance Policy, Health and Travel Insurance Policies, and more, which are aimed at getting its users covered without any hassles. Read the Digit Insurance success story below, where you will get to know everything about Digit, its Startup Story, Founders and Team, Business Model, Revenue Model, Funding and investors, Challenges, and more.

Digit Insurance – Company Highlights

Company Name	Digit Insurance
Headquarters	Bengaluru, Karnataka, India
Sector	Finance, Financial Services and Insurance
Founder	Kamesh Goyal
Founded	2017
Website	godigit.com

Digit Insurance – About
Digit Insurance – Startup Story
Digit Insurance – Founder and Team
Digit Insurance – Logo
Digit Insurance – Business Model
Digit Insurance – Revenue Model
Digit Insurance – Funding and Investors
Digit Insurance – Shareholding
Digit Insurance – Growth and Revenue
Digit Insurance – Financials
Digit Insurance – Awards and Achievements
Digit Insurance – Competitors
Digit Insurance – Future Plans

Digit Insurance – About

Digit Insurance is a Bengaluru-based general insurance and financial services company. Its mission is to make insurance simple for the common people. Digit General Insurance has come up with numerous insurance plans that can be primarily categorized as:

Go Digit health insurance
Go Digit car insurance
Digit 2-wheeler insurance or GoDigit bike insurance for bikes
Go Digit commercial vehicle insurance
Go Digit travel insurance

Digit Insurance – Startup Story

Previously bread had to be sliced from loaves. It wasn’t simpler like today’s slices. People find insurance to be like those unsliced loaves. Customers also don’t understand which plan is appropriate for whom. The company believes that this thinking can be changed. With this Digit Insurance started making insurance simple with an aim to go back to the basics and simpler transparent insurance solutions. Simple meant no twisted rules. The company needed a simple name and hence it found the name digit to be perfect and appropriate for them.

Digit Insurance – Founder and Team

Kamesh Goyal

Kamesh Goyal is the Founder and the Chairman of the company, Digit Insurance. He previously worked at Allianz Insurance as the Head of Asset Management and Group Planning and Controlling. He was also the Regional Chief Executive Officer there. Goyal also served as the Chief Executive Officer, Chief Operating Officer, and Country Manager at Bajaj Allianz. The Digit owner began his career as a Manager at KPMG, India. He pursued B.A. LLB and also completed his Master’s in Business Administration from Delhi University.

On the appointment of Jasleen as the new MD and CEO of Digit Insurance, taking over Vijay Kumar, Kamesh Goyal, the Chairman of Digit Insurance, said, “The bold ideas that Vijay brought to the table and the guidance he provided across the board will surely be missed by all our colleagues including me. Jasleen’s agile market strategies and her prudent operational planning have aided the company in expanding its presence at an accelerated pace despite the pandemic. Her people and result-oriented focus will surely put Digit on the path of rapid growth that we have all envisioned.”

Philip Varghese

Philip Varghese currently serves as the Executive Director of Digit Insurance. Philip started as the Manager of Projects at Allianz after his brief stint at Alpic Finance. He then served as the Senior Manager of Property Underwriting, CIO, and CIO & Head Direct at Bajaj Allianz General Insurance. Varghese then joined Bajaj Allianz Life, where he served as a CEO and COO before joining as the Board Member of Allianz Technology. Philip eventually joined Digit Insurance at a very early stage, when he teamed with the founder of Digit.

Vijay Kumar

Vijay Kumar served as the CEO and Principal Officer at Digit Insurance before the job role of MD and CEO was announced to go to Jasleen Kohli, who will be assuming the position effective from April 20, 2022. Starting as the Senior Executive Service & Quality at Kirloskar Pneumatic Company, Vijay Kumar has served in a range of companies in key leadership positions including Maruti Udyog Ltd, Hyundai Motor India Ltd., and Bajaj Allianz, before joining Digit. Vijay Kumar served as the CEO of the organization since Digit was founded in 2017, and his superannuation is dated April 19, 2022.

Vijay Kumar, on his retirement said, “I have had a fulfilling inning at Digit and I’m happy to see this baby grow into a giant player in such a short span of time. I am confident Jasleen will execute Digit’s ambitious growth plans with ease and take the company to greater heights in the coming years. As a passionate veteran of this industry, I will keenly keep an eye on Digit as it transforms the insurance space through its tech capabilities in the coming years.”

Jasleen Kohli

Jasleen Kohli has been appointed as the MD and CEO of Digit Insurance, effective from April 20, 2022. Kohli has previously worked as the Chief Distribution Officer (CDO), has been working with Digit since the inception of the company, better known as the first employee of the company. As part of her responsibilities as the CDO of Digit, Jasleen had to oversee all the sales and distribution channels of Digit. Kohli is brimming with experience too, with around 19 years of experience in the life and general insurance industry. Allianz Technology was the last company that Kohli worked with as a Director before she joined Digit. Jasleen Kohli is aged 42 now, and with her latest appointment, she will become one of the youngest CEOs in the insurance industry.

On her appointment announcement as the new MD and CEO of Digit, Jasleen Kohli said, “I am delighted about this new responsibility entrusted in me by the Digit team. While it will be hard to fill Vijay’s experienced shoes, I am excited about this challenge.”

Appointments followed with the announcement of Jasleen Kohli as the MD and CEO. The company also promoted Adarsh Agarwal from the role of Appointed Actuary to Chief Distribution Officer (corporate business). The former position of Adarsh Agarwal has been filed by Nikhil Kamdar, who became the new Appointed Actuary, as per the reports dated April 19, 2022.

Sriram Shankar was another Digit executive, who has been a part of the early leadership team of Digit. Since Shankar left Digit in August 2018, he has served Goodera as a Business head and eventually co-founded Findeed.

Digit Insurance currently works with over 1000 employees.

Digit Insurance – Logo

Digit Insurance Logo

Digit Insurance – Business Model

The Digit Insurance business model works just like the business models that the insurance companies opt for, the only difference is that Digit aims to introduce a range of new products and services to disrupt the Indian general insurance sector. It holds a general insurance license, which allows the company to sell health insurance products. Car and home insurance are common but Digital Insurance provides jewellery and mobile insurance as well. Furthermore, the company is redefining the insurance industry by working digitally. Its business strategy is to create beneficial partnerships with various companies.

Among various other insurance plans, Digit is one of the insurance companies that launched Go Digit Covid insurance. The coronavirus health insurance of the company is similar to a customized health insurance policy, which helps to cover the hospitalization and treatment costs of the COVID-19 infected persons who have previously registered with Digit.

Digit Insurance – Revenue Model

Digit Insurance earns the majority of its revenues from its business line of products which includes its insurance plans and their premiums. The general insurance company extends a wide range of insurance plans for health, motor, and travel. Digit clocked in $400 million in annual premiums when last recorded in October 2021.

Digit Insurance – Funding and Investors

Digit Insurance funding has seen it rise to unicorn status in 2021. The company has raised around $585.6 million in funding over the 9 funding rounds that it saw. The latest funding round that Digit witnessed on January 18, 2022, came from Wellington Hadley Harbor and Ithan Creek Master Investors, where the company raised $70 mn.

The valuation of the company is estimated at $3 billion, as of May 2024.

Date	Transaction Name	Money Raised	Lead Investors
May 4, 2022	Venture Round	INR 41.7 crore	–
January 18, 2022	Venture Round	$70 million	Wellington Hadley Harbor and Ithan Creek Master Investors.
August 26, 2021	Venture Round	$16.09 million	TVS Capital Funds
July 2, 2021	Venture Round	$200 million	Sequoia Capital India, IIFL Alternate Asset Managers, Faering Capital and more
January 16, 2021	Venture Round	$18.77 million	A91 Partners, TVS Capital, Faering Capital
January 21, 2020	Venture Round	$84 million	A91 Partners, Faering Capital, TVS Capital Funds
June 5, 2019	Venture Round	$50 million	Fairfax Financial Holdings
July 3, 2018	Venture Round	$45 million	Fairfax Financial Holdings
June 1, 2017	Venture Round	$47 million	Fairfax Financial Holdings

Digit Insurance is funded by 4 lead investors. IIFL Asset Management and Faering Capital are the most recent investors of the firm.

Digit Insurance IPO

Go Digit IPO raised INR 2,614.65 crore, with a fresh issue of 4.14 crore shares (INR 1,125 crore) and an offer for sale of 5.48 crore shares (INR 1,489.65 crore). The IPO was open from May 15 to May 17, 2024, with allotment finalized on May 21 and listing on BSE and NSE on May 23. The price band was INR 272 per share. Retail investors could apply with a minimum lot of 55 shares for ₹14,190 (cutoff bid: INR 14,960). Minimum investments were INR 2,09,440 for sNII (770 shares) and INR 10,02,320 for bNII (3,685 shares).

Digit Insurance – Shareholding

Digit Insurance’s shareholding pattern as of April 2024, sourced from Tracxn:

Digit Insurance Shareholders	Percentage
TVS Capital Funds	3.5%
A91 Partners	3.3%
Faering Capital	4.4%
Wellington Management	1.5%
Sequoia Capital	1.0%
Ithan Creek Investors	0.4%
360 One	0.4%
LNM India Internet Ventures	0.1%
UBR Capital	< 0.1%
QED Innovation Labs	< 0.1%
Parent Entity	82.1%
Cornerstone Sport	< 0.1%
Rs Filmcraft	< 0.1%
Forward Commercial	< 0.1%
D’Artist Talent Ventures	–
Singhaniafuture	–
Dossa Chemicals	–
Sai Service	–
Maruti Stockfin	–
Angel	0.2%
Other People	0.2%
ESOP Pool	2.3%
Other Investors	0.6%
Total	100.0%

Digit Insurance – Growth and Revenue

Joined the Unicorn Club with a $1.9B Valuation

Digit Insurance became the 1st Indian Startup in 2021 to join the Unicorn Club, following its latest undisclosed investment round.

Digit Inusrance timeline — Digit Insurance Valuation

It also launched a novel COVID-19 product, a Fixed benefit cover for COVID-19. They have been able to reach out to over 20 lakh Indian lives through their Digit Group Illness Insurance product.

Digit Insurance has already achieved a wide array of milestones. Here are some of the popular growth highlights of the company:

Digit achieved the coveted unicorn valuation in less than 4 years of operation
The company boasts of serving 2 crore+ customers
Digit saw a whopping 11X growth in the company’s group health business, which was last recorded at Rs 170 crore
Digit Insurance claims to have sold over 79,536 health policies and insured 42.5 lakh lives between March 2020 and September 2021
The company grew by 44% with a premium of Rs 3,243 crore
Digit is hailed as the first Indian company that achieve a unicorn valuation in 2021
Digit valuation has crossed the $4 billion mark as per the reports dated May 4, 2022

Digit Insurance – Financials

Digit Insurance has shown significant financial improvement in recent years, with notable growth in revenue and a shift from losses to profits.

Particulars	FY24	FY23	FY22	FY21	FY20
Revenue	INR 656.8 crore	INR 39.2 crore	INR -293.7 crore	INR -118.5 crore	INR -172.6 crore
Operating Profit/Loss	INR 484.2 crore	INR -66.3 crore	INR -375.2 crore	INR -185.5 crore	INR -226.9 crore
Profit/(Loss) Before Tax	INR 181.7 crore	INR 35.5 crore	INR -295.9 crore	INR -122.8 crore	INR -175.2 crore
Profit/(Loss) for the Year	INR 181.7 crore	INR 35.5 crore	INR -295.9 crore	INR -122.8 crore	INR -175.2 crore

Revenue rose sharply from INR 39.2 crore in FY23 to INR 656.8 crore in FY24. Profit after tax increased from INR 35.5 crore to INR 181.7 crore.

Digit Insurance Revenue:

Revenue Source	FY24	FY23
Fire Insurance	INR 54.2 crore	INR 22.1 crore
Marine Insurance	INR 6.8 crore	INR -6.8 crore
Miscellaneous Insurance	INR 423.2 crore	INR -81.5 crore
Income from Investments	INR 172.1 crore	INR 105.2 crore
Other Income	INR 0.5 crore	INR 0.2 crore
Total Revenue	INR 656.8 crore	INR 39.2 crore

Revenue from investments increased from INR 105.2 crore to INR 172.1 crore. Fire insurance income more than doubled from INR 22.1 crore to INR 54.2 crore.

Digit Insurance Expenses:

Expense Type	FY24	FY23
Other Expenses	INR 475.2 crore	INR 3.6 crore
Expenses (Non-Insurance)	INR 1.5 crore	INR 3.6 crore
Loss on Sale/Discard of Fixed Assets	–	INR 0.2 crore
Interest on Non-Convertible Debentures	INR 6.1 crore	–
Contribution to Policyholder Fund (ExceEOM)	INR 467.5 crore	–

Other expenses increased sharply from INR 3.6 crore in FY23 to INR 475.2 crore in FY24. Contribution to policyholder funds was a significant cost of INR 467.5 crore.

Digit Insurance Profit/Loss:

Profit/Loss Type	FY24	FY23
Gross Profit	INR 484.2 crore	INR -66.3 crore
Operating Profit/Loss	INR 484.2 crore	INR -66.3 crore
Net Profit/(Loss)	INR 181.7 crore	INR 35.5 crore

Digit Insurance achieved a net profit of INR 181.7 crore in FY24 compared to INR 35.5 crore in FY23.

Quick Summary:

Revenue Growth: Significant increase from INR 39.2 crore to INR 656.8 crore, driven by investments and insurance income.
Expense Surge: Other expenses rose from INR 3.6 crore to INR 475.2 crore, impacting profit margins.
Profit Improvement: Net profit increased fivefold from INR 35.5 crore to INR 181.7 crore, reflecting better operational performance.
Insurance Segments: Fire and miscellaneous insurance showed strong growth, while marine insurance returned to profitability.

Digit Insurance – Awards and Achievements

Some of the prominent awards and achievements that Digit Insurance achieved throughout the years are:

Digit Insurance Recognized as ‘Top Employer in India’ for 2024 and 2025 for Fostering Culture of Growth and Innovation
Digit Insurance was announced as the General Insurance Company of the Year at the 24th Asia Insurance Industry Awards in 2020
It earned the Insurance Startup of the Year – India award, which was awarded by the Insurance Asia Awards 2020
Asia Insurance Review declared Digit as Asia’s Best General Insurance Company of the Year
Digit Insurance was one of the Hottest Start-ups in India in 2019
In the CMO Confluence & Corporate Awards 2019, Digit was conferred the title of the Best General Insurance Company
The company ranked 5th among the LinkedIn Top Start-ups of 2018

Digit Insurance – Competitors

The top competitors of the company are Acko, Coverfox, and PolicyBazaar.

Acko is the top competitor of Digit Insurance. It is a Mumbai-based company founded in 2016. It also works in the insurance industry.
Coverfox is one of the top competitors of Digit Insurance. It was founded in 2013 and is headquartered in Andheri East, Maharashtra, India. It also operates in the insurance sector.
PolicyBazaar is also a top rival of Digit Insurance. It was founded in 2008 and is headquartered in Gurgaon, Haryana, India. The company competes in the insurance sector.

Digit Insurance – Future Plans

Digit Insurance plans to capitalize on a favorable macroeconomic climate and accelerate digital transformation, with a strong focus on AI adoption. Key priorities include improving customer-facing services such as claims management and customer support to enhance user experience. While exploring the potential of AI and Generative AI, Digit will adopt a cautious approach, balancing innovation with risk management. The company also aims to strengthen its fraud detection capabilities to address the rising threat of insurance fraud.

FAQs

Who is Digit Insurance Founder?

Kamesh Goyal is the founder of Digit Insurance as well as its chairman.

What insurances does Digit Insurance provide?

Digit Insurance covers insurance policies such as Bike Insurance, Car Insurance Policy, Health and Travel Insurance Policies, Property Insurance, Shop Insurance, Fire Insurance, and many more.

What is Digit Insurance valuation?

Digit Insurance was last valued at $3 billion in May 2024.

What is Digit Insurance business model?

Digit Insurance operates as a digital-first general insurance company. It offers motor, health, travel, property, and commercial insurance products. Its model focuses on using technology for simplified processes, quick claim settlements, and a seamless customer experience. The company generates revenue through insurance premiums and investment income while managing risks through underwriting and reinsurance.

Who is the CEO of Digit Insurance?

Jasleen Kohli has been appointed as the new Digit Insurance CEO and MD on April 19, 2022, effective from April 20, 2022, and has taken over the position from Vijay Kumar.

Which famous cricketer has funded Digit?

The popular Indian cricket team skipper, Virat Kohli has funded Digit. Virat Kohli has invested Rs 2 crore in the insurance startup while his wife, Anushka Sharma has invested Rs 50 lakhs in the firm around the same time.

What is Jasleen Kohli relation with Virat Kohli?

There is no relation between Jasleen Kohli and Virat Kohli. Jasleen Kohli is the Managing Director and CEO of Digit Insurance, while Virat Kohli is an Indian cricketer. Their shared last name is coincidental.

February 25, 2025

Milkvilla: Bengaluru’s Fastest Delivery of A2 Raw Cow Milk – Pure, Microplastic-Free, and Freshly Delivered with an Innovative Cart!

India’s dairy industry is expected to grow by 13-14% in revenue during the financial year 2024-25, driven by strong consumer demand and better raw milk supply, as per CRISIL Ratings.

With this growth, there is rising demand for pure and unprocessed milk. A name that is standing out and making its mark in this industry is Milkvilla. Headquartered in Bengaluru, Milkvilla stands out by delivering fresh A2 desi raw cow milk from free-grazing cows. Using advanced technology and eco-friendly practices, Milkvilla is creating a positive impact on health and the environment.

In this article, learn more about Milkvilla, its founders, its business and revenue model, challenges, growth, and more.

Milkvilla – Company Highlights

Company Name	Milkvilla
Headquarters	Bengaluru, Karnataka, India
Sector	Dairy Product Manufacturing
Founder	Mannu Jee, Aman Jee, Mayank Parashar, Avkash Kumar
Founded	2021
Website	milkvilla.in

Milkvilla – About
Milkvilla – Industry
Milkvilla – Founders and Team
Milkvilla – Startup Story
Milkvilla – Tagline
Milkvilla – Vision and Mission
Milkvilla – Products/Services
Milkvilla – Business and Revenue Model
Milkvilla – Customer Growth and Retention Strategies
Milkvilla – Challenges Faced
Milkvilla – Marketing Campaigns
Milkvilla – Growth
Milkvilla – Achievements in Startup Programs
Milkvilla – Recognition and Achievements
Milkvilla – Competitors
Milkvilla – Future Plans

Milkvilla – About

Milkvilla is a brand committed to delivering pure, raw A2 desi cow milk straight from free-grazing cows to your doorstep. With a strong focus on sustainability, it eliminates plastic packaging and uses eco-friendly practices. Combining traditional methods with modern technology like blockchain and IoT, Milkvilla ensures quality, freshness, and transparency at every step. It’s more than milk, it’s a movement for a healthier lifestyle and a greener planet.

Milkvilla – Industry

The Indian dairy industry is growing at a compound annual growth rate (CAGR) of approximately 13.68% and is expected to reach a market size of $489.62 billion by 2031. India, the world’s largest milk producer, generates over 230 million metric tons of milk annually. Around 70% of Indian households prefer raw milk over processed and packaged milk, citing its natural taste and nutritional value.

Milkvilla aims to establish a strong presence in major cities across India, delivering raw milk and other eco-friendly, plastic-free dairy products by then, aligning with the industry’s shift towards sustainability and innovation.

Milkvilla – Founders and Team

Milkvilla Founders - Mannu Jee, Aman Jee, Mayank Parashar, Avkash Kumar — Milkvilla Founders – Mannu Jee, Aman Jee, Mayank Parashar, Avkash Kumar

Milkvilla is driven by a visionary leadership team with a shared passion for innovation, sustainability, and delivering value to customers:

Mannu Jee, Founder & CEO: With a background in marine engineering and global operations, Mannu’s leadership combines a deep commitment to sustainability and empowering farmers with strategic business acumen.
Aman Jee, Co-founder & CTO (IIT Patna): A technology innovator with expertise in software development, IoT, and cloud solutions, Aman leads Milkvilla’s tech infrastructure, ensuring operational efficiency and customer satisfaction.
Mayank Parashar, Co-founder & COO: An operations expert with 8+ years in logistics and supply chain management, Mayank optimizes delivery systems to ensure Milkvilla’s raw milk reaches customers reliably and sustainably.
Avkash Kumar, Co-founder & CGO (IIT Kharagpur): A seasoned strategist and marketer, Avkash drives Milkvilla’s expansion through innovative campaigns, customer-centric solutions, and sustainable growth initiatives.

Together, this dynamic team is transforming India’s dairy industry with innovation, quality, and a vision for a sustainable future.

Milkvilla – Startup Story

Milkvilla was founded to deliver fresh, A2 raw desi cow milk directly to consumers, prioritizing authenticity, nutrition, and sustainability. Inspired by the challenges faced by its founders, Mannu Jee, and Aman Jee, Milkvilla bridges the gap between rural milk production and urban consumers.

Mannu Jee, raised in a farmer’s family, witnessed his father producing high-quality A2 milk that rarely reached urban areas like Muzaffarpur due to transportation issues. Aman, moving across cities for education and work, struggled to find nutrient-rich A2 milk, valued for its health benefits, especially for vegetarians and pregnant women.

Established in 2019 in Muzaffarpur, Bihar, Milkvilla ensures access to fresh A2 milk while empowering local farmers. Committed to sustainability, the company offers plastic-free packaging, saving over 2 lakh trees. Milkvilla has revolutionized urban milk access, focusing on quality, sustainability, and innovation to benefit consumers, farmers, and the environment.

Technological Advancements at Milkvilla: Revolutionizing A2 Desi Raw Milk Delivery

Milkvilla has pioneered advanced technology to ensure seamless delivery of fresh A2 desi raw milk. Innovations include temperature-controlled milk tanks, IoT-based milk dispensers, and custom electric delivery vans.

The company has also developed software solutions to streamline experiences for consumers, farmers, and operations, alongside an IoT-based milk analyzer for real-time quality testing. These advancements underscore Milkvilla’s commitment to delivering premium milk with sustainability and efficiency from farm to doorstep.

Milkvilla – Tagline

Milkvilla’s tagline is “Raw Milk is the Real Milk” – A Commitment to Freshness and Quality

At Milkvilla, they believe “Raw milk is the real milk.” Unlike market milk, often pasteurized, packaged, and delivered 8–10 days post-milking, Milkvilla’s A2 raw milk reaches consumers within 12 hours, ensuring purity and freshness.

Unlike conventional milk with added milk powder or chemicals, Milkvilla guarantees pure, unadulterated A2 raw milk. The company’s promises include:

Fast Supply Chain: Fresh milk is delivered within 12 hours.
Highest Hygiene Standards: Rigorous practices ensure safety and quality.

Milkvilla also provides a daily milk quality report via its app. You can easily differentiate raw milk from processed milk—raw milk develops a fat layer if unboiled within an hour, while pasteurized milk lacks this natural property. Milkvilla delivers authentic, preservative-free milk with transparency and integrity.

Milkvilla – Vision and Mission

The company’s mission is to become a household name for the delivery of fresh and A2 raw desi cow milk in India. The company emphasizes the belief that “raw milk is the real milk.”

Milkvilla – Products/Services

Milkvilla offers a premium range of A2 dairy products, including raw milk, paneer, curd, butter, and more, delivered within 12 hours of milking for maximum freshness and nutrition.

Committed to sustainability, its eco-friendly, plastic-free packaging reduces environmental impact while preserving quality. Milkvilla brings farm-fresh, nutritious A2 products responsibly sourced to your doorstep.

Milkvilla – Business and Revenue Model

Milkvilla operates on a direct-to-consumer model, earning revenue by selling premium A2 milk and other dairy products. This approach allows to maintain control over product quality and customer experience, ensuring the freshest and most reliable dairy products for the consumers.

In addition to the core retail business, Milkvilla is successfully executing a franchise model that enables rapid scaling. This strategic expansion reduces capital liabilities and creates a mutually beneficial partnership with franchisees, contributing additional revenue streams to the company. By combining direct sales and franchising, Milkvilla is poised for sustainable growth while maintaining the integrity of its product offerings.

Milkvilla – Customer Growth and Retention Strategies

Milkvilla has built a loyal customer base through a combination of unique strategies and unwavering product quality. Its distinct milk carts attract customers organically, and the superior taste and freshness of the raw A2 milk ensure they stay with us. Unlike others, Milkvilla does not process or package its products, preserving the true flavor of milk and dairy while avoiding preservatives.

Milkvilla operates on a subscription-based model complemented by fast delivery, offering convenience and reliability to its customers. Moving forward, Milkvilla plans to enhance consumer retention through personalized offerings, community engagement, and continuous improvements in service.

With its sustainable practices, innovative marketing, and scalable operations, Milkvilla is well-positioned to continue leading the A2 raw dairy market and delivering unparalleled quality and convenience to consumers.

By Choosing Milkvilla, You're Saving 1 Tree Every Month — By Choosing Milkvilla, You’re Saving 1 Tree Every Month

Milkvilla – Challenges Faced

Milkvilla has faced various challenges throughout its journey, each requiring unique solutions. Initially, managing supply-demand imbalance was a key issue. As the company grew, manpower management became a challenge, followed by the need for advanced technology to handle raw milk and serve a large customer base. Additionally, finding sustainable packaging solutions without plastic was another hurdle.

To address these, they focused on building the right team, developing technology, and finding eco-friendly packaging. Today, all of Milkvilla’s products are delivered in plastic-free packaging, aligning with its sustainability commitment.

Milkvilla has evolved by turning each challenge into an opportunity to improve operations, enhance offerings, and uphold environmental values, ensuring consumers receive the highest-quality A2 dairy products with every delivery.

Milkvilla – Marketing Campaigns

Milkvilla’s marketing campaigns have played a key role in building the brand and engaging consumers. One standout strategy is its cow mascot marketing, adding fun and freshness to events while reinforcing the commitment to high-quality A2 raw milk.

View this post on Instagram

A post shared by Milkvilla : Raw & Fresh Cow Milk (@milkvilla.dairy)

Our operations in Bengaluru have positioned them as pioneers, being the only company delivering raw A2 milk at scale in the city. Through plastic-free packaging, Milkvilla has saved over 2 lakh trees, reflecting its sustainability efforts.

To expand its reach, Milkvilla is launching an affiliate marketing program, allowing individuals to promote its products and earn up to INR 80,000. Milkvilla also uses unique content and graphics to stand out in a competitive market.

To showcase its superior quality and delivery, Milkvilla is offering 1 liter of free raw milk to let consumers experience the difference. Through these campaigns, Milkvilla continues to build trust, expand its consumer base, and lead the A2 raw milk industry.

Milkvilla – Growth

Milkvilla has made significant strides in its growth and operations. The company has established its own plants in three key locations: Muzaffarpur, Patna, and Bangalore, and is successfully running two pilot franchise operations in Chandigarh and Moradabad. Most of these centers are already operating profitably, demonstrating the strength and efficiency of Milkvilla’s business model.

With a monthly revenue surpassing INR 1 crore and a growing consumer base of over 6,000 customers, Milkvilla is well-positioned for continued growth. The company is poised to scale further and faster, with plans to expand its footprint and continue providing fresh, high-quality A2 dairy products to an even broader audience.

Milkvilla – Achievements in Startup Programs

Milkvilla’s innovative efforts have been recognized by both the Government of Bihar and the Government of India. The company has received separate grants totaling INR 40 lakh from these governments, acknowledging its contributions to the dairy sector and its potential for impactful growth.

This support underscores Milkvilla’s commitment to revolutionizing the dairy industry while driving economic and sustainable development.

Milkvilla – Recognition and Achievements

Milkvilla has been proudly recognized by Startup India for its innovative contributions to the dairy industry and its commitment to sustainability. Its journey is marked by impactful milestones that demonstrate Milkvilla’s dedication to delivering quality products while protecting the environment.

4,475 carbon credits earned: Reflecting our measurable impact on reducing greenhouse gas emissions.
60 million liters of water saved: By reducing reliance on plastic, contributing to water conservation efforts.
58,000 kg of CO2 emissions reduced: Minimizing our carbon footprint with environmentally conscious initiatives.
27,000 kg of plastic waste diverted from landfills: Supporting a cleaner environment through sustainable practices.
30,000 kg of plastic production avoided: Ensuring eco-friendly operations by adopting plastic-free packaging.
50 lakh liters of milk delivered: Bringing fresh, raw A2 dairy products to thousands of households.

These achievements underscore Milkvilla’s commitment to sustainability, innovation, and social responsibility. As it continues to grow, Milkvilla remains dedicated to creating a lasting positive impact on the planet while delivering the highest-quality A2 dairy products to its consumers.

Milkvilla: Making a Positive Impact on the Environment with Every Drop of Milk

Milkvilla – Competitors

Milkvilla operates in a competitive market alongside notable players such as Country Delight, Akshayakalpa, Sid’s Farm, and Pride of Cows. While these brands share a commitment to delivering quality dairy products, Milkvilla differentiates itself through its focus on A2 desi “raw milk” and a seamless, technology-driven supply chain.

Milkvilla’s dedication to sustainability—evident in its plastic-free packaging—and the ability to deliver fresh A2 dairy products within 12 hours of milking set it apart from competitors. By combining innovation, superior product quality, and a strong consumer-first approach, Milkvilla continues to carve its niche in the premium dairy segment, building trust and loyalty among its growing customer base.

Milkvilla – Future Plans

Milkvilla is gearing up for significant expansion and innovation. Currently operating a small plant on Sarjapur Road in Bengaluru, the company plans to scale to 50 delivery vehicles within the next six months, with plans to replicate this model across Bengaluru and other major cities in India for nationwide growth.

Additionally, Milkvilla is expanding its franchise model to tier 2 and tier 3 cities, with planning already underway. This will bring fresh A2 dairy products to more consumers while supporting local entrepreneurship.

Milkvilla will also introduce a 10-25 minute dairy delivery service starting in January or February 2025, becoming the first dairy company to achieve this milestone. These efforts aim to redefine convenience and quality in the dairy industry, setting new benchmarks for freshness, speed, and accessibility.

FAQs

What products does Milkvilla offer?

Milkvilla offers a premium range of A2 dairy products, including raw milk, paneer, curd, butter, ghee, and more, delivered within 12 hours of milking for maximum freshness and nutrition.

Who are the founders of Milkvilla?

Mannu Jee, Aman Jee, Mayank Parashar, and Avkash Kumar are the co-founders of Milkvilla.

Where is the headquarters of Milkvilla?

The headquarters of Milkvilla is in Bengaluru, Karnataka, India, near HN Halli Lake, off Sarjapur Road.

December 30, 2024

Acquisitions by Swiggy: Building a Stronger Business Through Strategic Expansions

Swiggy has been making the lives of urban customers more convenient for customers since 2014. Since Swiggy was founded, it has acquired five companies and subsidiaries as it has expanded its empire and diversified its business. The leading on-demand food delivery platform is now a logistics hub of excellence.

Swiggy is a food tech company with its headquarters placed at Bangalore, India. The company was founded back in 2014 by the efforts of Nandan Reddy, Phanu Kishan Addepalli, Rahul Jaimini, and Sriharsha Majety.

The current CEO of the firm is Sriharsha Majety. Some of the most popular competitors of Swiggy are Fresh Menu, Zomato, Uber Eats, Grofers, etc. The six acquisitions made by Swiggy are:

Company Name	Date of Announcement	Acquired By	Amount
LYNK Logistics	July 13, 2023	Swiggy	$23 million
Dineout	May 13, 2022	Swiggy	$115K
Kint.io	Feb 4, 2019	Swiggy	–
Supr Daily	Sep 1, 2018	Swiggy	$123 million
Scootsy	Aug 2, 2018	Swiggy	$3.6 million
48East	Dec 13, 2017	Swiggy	$750K

LYNK Logistics
Dineout
Supr Daily
Forty-Eight East (48 East)
Kint.io
Scootsy Logistics Private Limited

LYNK Logistics

Founded	2015
Founders	Abhinav Raja and Shekhar Bhende
Industry	Retail Distribution
Acquired In	2023
Status	Active
Website	Lynk.co.in

LYNK Logistics is a company that distributes fast-moving consumer goods (FMCG) to retail stores. LYNK, founded in 2015 and based in Chennai, works with FMCG brands to supply products to stores. It has a network of over 100,000 retail stores in eight cities.

Lynk is creating a complete platform to help consumer brands reach 80% of India’s buyers, who shop mainly at small Kirana stores. Using strong technology, they are improving how brands reach the market, building a modern supply chain for local trade, and making it easier for Kirana stores to get credit on a large scale.

They have partnered with many well-known consumer brands across India’s major cities and have a fast-growing network of Kirana stores.

Swiggy acquired Link Logistics in July 2023 for $23 million. This move marks Swiggy’s first step into the retail business-to-business (B2B) sector.

Dineout

Founded	2012
Founders	Ankit Mehrotra, Vivek Kapoor, Nikhil Bakshi, and Sahil Jain
Industry	Food and Technology
Acquired In	2021
Status	Active
Website	www.dineout.co.in

Dineout was born when its founders landed their first investment from Travel Boutique Online. They finally made their breakthrough when it was acquired by Times Internet. The startup has also expanded its empire over the years by acquiring inResto, Gourmet Passport, and Torqus.

Eventually, around 2016, they launched Dineout Plus coming up with brand-new offerings for their audiences like a corporate dining rewards program that gave a flat 25% discount at 5-star restaurants, and an exclusive bill payment wallet for diners: Dine Out Pay.

The startup has also come up with a month-long campaign GIRF (The Great Indian Restaurant Festival) to create amazing experiences and offer bigger deals for their customers. With their B2B and B2C services, they have partnered with many restaurants across their network of around 20 cities.

India’s largest dining out and restaurant tech solutions platform helps diners discover restaurants and offers, enabling hassle-free reservations.

Swiggy saw the opportunity to expand its offerings in dining out table reservations and events with a leading dining out and restaurant tech platform on July 22, 2021. This will enable Swiggy to cater to every food occasion. Reach more customers and expand growth opportunities. Revolutionizing the restaurant industry. Improving the customer experience at the restaurant and delighting customers. Dineout was acquired by Swiggy in May 2022.

Supr Daily

Founded	2015
Founders	Puneet Kumar, Shreyas Nagdawanen
Industry	Technology, Information, and the Internet
Acquired In	2018
Status	Active
Website	www.suprdaily.com

Supr Daily allows you to buy groceries through an online platform with a wide selection of organic and healthy foods.

Additionally, it also provides options from other categories such as baby care, pet needs, and more to your doorstep. Pioneering the grocery revolution in India, it is currently operating in more than eight cities.

The startup operates with the motto “Do more, with less” aiming to make their customers happy, and give them a stress-free start to the day and a superior consumer experience.

Swiggy acquired Supr Daily in 2018 to create a niche in solving critical consumer needs and fulfilling their daily orders, expanding its channels for revenue. Since then, the startup has been revamped to unlock its potential and share its mission with Swiggy.

Forty-Eight East (48 East)

Founded	2016
Founders	Kumar Karthik, Joseph Cherian
Industry	Food and Beverage Services
Acquired In	2017
Status	In-Active
Website	www.fortyeighteast.com

Swiggy Acquisitions – 48 East Logo

Forty-Eight East is a food tech startup that brings you the cuisines of different nations: South Asia, South East Asia, Central Asia, East Asia, and the Middle East.

Providing international taste to its customers with a weekly changing menu in a quick-service restaurant setting. Starting with the idea of bringing different Asian delicacies beyond noodles and Thai food to the Indian people, Joseph Cherian started setting up a kitchen in Bengaluru Karnataka. He was joined by friend and chef Nabhojit Ghosh. Which later expanded from one kitchen to eight.

Things took a turn when Joseph Cherian joined Swiggy as COO after the startup was acquired by it in 2017. Swiggy acquired 48 East with the purpose of solving gaps in its consumer supply through various strategies. Equipping Swiggy with additional capabilities, broadening its senior leadership, and serving a more satisfying consumer experience.

Kint.io

Founded	2014
Founders	Jagannathan Veeraraghavan, Pavithra Solai Jawahar
Industry	Artificial intelligence, Computer
Acquired In	2019
Status	In-Active
Website	www.kint.io

Swiggy Acquisitions – Kint.io Logo

The local Bengaluru-based AI platform known for designing and developing software was the first technology-led acquisition for Swiggy. Kint.io, which is led by Jagannathan Veeraraghavan and Pavithra Solai Jawahar, applies deep learning and computer vision to object recognition in videos.

Several founding members joined Swiggy’s team to boost computer vision technology, consumer experience, and scale tech capabilities by bringing in entrepreneurial teams that solve unique customer problems. All the while leveraging the network and resources of Swiggy.

Swiggy made a smart move as consumer intent companies are rapidly growing to stay ahead of the game and make a profit in the long term. The aim is to use the platform to help people apply and discover restaurants using images and recommendations based on them. Enhancing the company’s computer vision technology and improving the overall consumer experience.

Scootsy Logistics Private Limited

Founded	2015
Founders	Rishi Khiani, Sandeep Das, Yash Sippy
Industry	Transportation, Logistics, and Storage
Acquired In	2018
Status	Active
Website	www.scootsy.com

Swiggy Subsidiaries - Scootsy — Swiggy Acquisitions – Scootsy

Starting with Ant Farm one can turn to Scootsy for quick, curated delivery across the city. The Mumbai-based startup was founded by former Times Internet chief executive Rishi Khiani, Sandeep Das, and Khiani the co-founders of Scootsy. The platform offers quality experiences to its discerning consumers.

Following an acquisition, the company further partnered up with Burger King. The experience of ordering from the platform itself is described as the closest one can get to eating at a fine dining establishment. They have a curated list of restaurants, food stores, boutiques, and gift shops to make your life easier and better.

Swiggy acquired Scootsy for approximately ₹ 50 crores according to sources in 2018. Swiggy plans to expand into new cities, tap into orders from high-end restaurants, and strengthen its restaurant network. Over time, Swiggy has transitioned Scootsy’s operations to its platform and integrated Scootsy to deliver premium culinary offerings in Mumbai.

Conclusion

Swiggy has been in the market for almost 8 years. Swiggy was started as an online food delivery platform that is now operating in more than 500 Indian cities. Swiggy has a constant focus on implementing new technologies and creating data-driven marketing approaches.

In order to improve its services, Swiggy has acquired multiple startups along the path. The startups acquired by Swiggy are Dineout, Kint.io, Scootsy Logistics Private Limited, 48East, and Supr Daily.

FAQs

How much does Swiggy Acquire Dineout for?

Swiggy acquired Dineout for almost $200 million on 14th Feb 2022.

Did Swiggy Acquire Instamart?

Swiggy launched Instamart on 10 August 2020.

Has Zomato acquired Swiggy?

Swiggy is the biggest competitor of Zomato. However, there were reports of a stock-based merger proposed by Swiggy which eventually came to a dead end because of the difference in both companies’ valuations and business ailments.

Swiggy acquired which company?

Swiggy has acquired 6 companies to date, which are LYNK Logistics, Dineout, Kint, Scootsy, Supr Daily, and 48East.

Swiggy is owned by which company?

Swiggy is owned by Prosus, SoftBank Group, and Accel and it was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini.

November 7, 2024

moneyHOP Success Story – Enhancing the Cross-border Banking Experience

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by moneyHOP.

Being India’s Cross-Border Neobank, moneyHOP is enhancing the cross-border banking experience of Indians like never before! An interesting point to note here is – moneyHOP just commenced commercial operations and is already registering a 30% MoM growth in terms of customers.

moneyHOP is a neobank that provides a cross-border banking experience to people via two products, i.e. HopRemit and HOP app’s multi-currency bank account with international debit+Forex card.

In this article, learn more about moneyHOP, its founder, business model, funding, how it started, and more.

moneyHOP – Company Highlights

Startup Name	moneyHOP
Headquarters	Bengaluru, Karnataka, India
Industry	Financial Services
Founded	2019
Founder	Mayank Goyal
Total Funding Raised	$2.5 million (Jan 2022)
Website	moneyhop.co

moneyHOP – About
moneyHOP – Cross Border Industry Details
moneyHOP – Founder
moneyHOP – Startup Story
moneyHOP – Name, Tagline and Logo
moneyHOP – Product and USP
moneyHOP – Business Model and Revenue Model
moneyHOP – Startup Launch and Customer Retention
moneyHOP – Funding and Investor
moneyHOP – Achievement and Recognition
moneyHOP – Challenges Faced
moneyHOP – Competitors
moneyHOP – Future Plans

moneyHOP – About

moneyHOP is a neobank that provides a cross-border banking experience to Indians via two products, i.e. HOPRemit and HOP app’s multi-currency bank account with international debit+Forex card.

HOP Remit extends instant, secure, and cost-effective remittance solutions to Indian customers for their outbound needs. On the other hand, the HOP app empowers its customers with a truly globalized banking experience with the ability to save, invest, borrow, and spend via ‘ONE Global Account, ONE Global Card’. It provides multi-currency wallets, charges nearly 0% forex markup, and offers completely paperless currency exchange in an ‘anytime, anywhere’ format. Furthermore, moneyHOP empowers its customers to lock in currency exchange rates for their future needs.

Mayank Goyal, Founder & CEO of moneyHOP says “Indians are increasingly becoming global citizens. They wish to live and travel abroad. However, the current banking infrastructure is such that it pertains to a sovereign nation. Our core belief is to leverage technology and provide a seamless cross-border banking experience to anyone, anywhere, and anytime”

moneyHOP – Industry Details

moneyHOP operates in the cross-border payments and remittance industry. At around $83 billion, India is the world’s largest market for inward remittance flow. The transaction value of global remittances and cross-border payments is expected to rise from $37.15 trillion in 2020 to $39.9 trillion by 2026.

Also, the Indian fintech market was valued at $50 billion in 2021 and is expected to grow to $150 billion by 2025.

As moneyHOP commenced operations only a few months ago, it is still at an early stage and the current market share is not significant. Mr. Mayank expects the industry to grow 15 to 20 percent YoY and by 2024, engage about 45 million global travellers, 2 to 3 million Indian outbound students and a $45-50 billion outbound remittance market.

moneyHOP – Founder

Mayank Goyal is the sole founder of moneyHOP. He spearheads all moneyHOP operations.

Mayank Goyal - Founder and CEO, moneyHOP — Mayank Goyal – Founder and CEO, moneyHOP

Mayank Goyal has completed his Bachelor of Engineering, Telecommunications from PES University and his Master of Science, Financial Engineering from Imperial College Business School. He is also a Chartered Financial Analyst. He currently serves as the founder and CEO of moneyHOP.

moneyHOP has three mentors at present including a banking veteran, foreign exchange payments expert, and senior executives from a Big Tech company.

moneyHOP – Startup Story

Mr. Mayank reminisces about the inspiration & background story behind moneyHOP. This is what he says – “The inspiration was a lot personal. My parents used to come and visit me in London. They used to get their money exchanged via a local money changer who would charge them a 5%-6% markup over the Inter-bank rate. Once visiting Dehradun, I wanted to remit money from India to the UK and experienced the ordeal myself. It involved heavy paperwork and I had to wait for 5 days to get the transaction done. The customer experience was absolutely terrible. I realized that thousands of people had to go through such ordeals for the lack of a better service. It was then that the idea dawned upon me to address the need gap”

He spoke with 100 people having diverse socioeconomic backgrounds. His findings were that this market was dominated by PSBs and the process involved heavy paperwork, was branch based and lacked customer experience. Mayank then obtained an FFMC license from the RBI and initiated our discussions with banks and payment processors. After the association with VISA and an AD-I license holder bank, many prototypes were built, tested, and enhanced. It paved the way for HOPRemit, which was launched in January 2021.

moneyHOP – Product and USP

moneyHOP provides a cross-border banking experience to Indians via two products, i.e. HOPRemit and HOP app’s multi-currency bank account with international debit+Forex card.

Any person can directly log on to www.moneyhop.co or download the HOP app and register in less than 3 minutes! They can then either send cash via HOPRemit or engage in globalized digital banking with the HOP app plus card solution.

The solution serves the needs of oversea travellers as well as Indian students who wish to send money abroad. It has minimized the turnaround time for this entire process, making it more cost-effective and eliminating the paperwork while adhering to all regulatory norms.

“This digital remittance experience, near 0% markup on-demand currency exchange along with ‘One Global Account’ & ‘One-Global Card’ as some of our USPs. We think about the product as a cross-border neo-banking platform which enables Indians to ‘Send’ & ‘Spend’, economically and conveniently across the globe.” Mayank added.

Tools Used by moneyHOP to Run the Startup

The tools used by moneyHOP to run the startup are Slack, Atlassian, Google Suite, AWS, and HubSpot.

moneyHOP – Name, Tagline and Logo

The idea of Mayank was to provide a platform which enables customers to ‘hop’ the money from one place to another and hence the name ‘moneyHOP’. Its tagline is ‘Smarter, Faster, Better.’

moneyHOP – Business Model and Revenue Model

moneyHOP has active partnerships with VISA and AD-I license-holder banks. It acquires customers directly via digital marketing channels (B2C) and also through partnerships with universities, education consultants, international schools etc. (B2B2C). The company didn’t directly reveal its revenue model.

moneyHOP – Startup Launch and Customer Retention

As recalled by Mayank, the initial days revolved around brainstorming about how to effectively solve the challenge while using minimal resources. The team at moneyHOP also applied for relevant licenses and worked on the back-end technology infrastructure in the meantime. It had a referral program and the first 100 users were achieved through a mix of referrals and digital marketing.

“Our cost-effectiveness, time-efficiency, paperless nature of transactions, and transparency on top of a good user experience have all proven pivotal in attracting and retaining customers” says Mayank, Founder & CEO, moneyHOP.

moneyHOP – Funding and Investor

moneyHOP has raised a total funding worth $2.5 million.

Date	Round	Amount	Lead Investors
Sep 1, 2021	Seed Round	₹91.2M	—
Oct 21, 2020	Non-Equity Assistance	—	Mass Challenge
Oct 1, 2019	Pre Seed Round	—	—

Please note here that Mass challenge is a non equity investor at moneyHOP.

moneyHOP – Achievement and Recognition

moneyHOP was incubated at IIM Bangalore.
It was also the only Indian startup to be a part of the Mass Challenge Boston program.

moneyHOP – Challenges Faced

Banking partnership was the biggest teething issue for moneyHOP. Mayank had to constantly visit Mumbai and meet all of the banks. However, they somehow saw him as an outsider. It took him a lot of effort to convince them that “I (Mayank) believe in the India story”. moneyHOP shared its vision with them and explained how powerful it can end up being. The team made the relevance of the product clear with constant efforts, grit, and persistence.

“Another challenge was more in terms of my own perception. I had never worked in India before. I assumed that the working culture would be similar to the U.K. It was not! It was a different ballgame altogether and I had to constantly tweak the way I interacted with the partners. I also analyzed what were the motivating factors for each individual to get better at it” Mayank added.

Lastly, Mayank felt that an entirely digital model will work the best. Perhaps, he overemphasized the trust deficit. He now believes that a Phygital model works the best as people need assistance and want to interact with the company, especially in its earlier days.

moneyHOP – Competitors

moneyHOP doesn’t have any major competition in the Indian market. However, on a global scale, its top competitors include Airwallex, NiYo, Nium, Fi, Transferwise, and Revolut.

moneyHOP – Future Plans

moneyHOP just commenced its commercial operations and is already registering a 30% MoM growth in terms of customers.

Founder of moneyHOP – Mayank says “The future is bright as the need-gap that we are bridging is enormous and multilayered”

moneyHOP is working on multiple projects and aims to unveil more offerings for its customers in 1 to 2 years. It is also aggressively expanding its business footprint in India and abroad. moneyHOP plans to launch inward remittances as well as foreign-currency bank accounts.

FAQs

Who is the founder of moneyHOP?

Mayank Goyal is the founder and CEO of moneyHOP.

What is moneyHOP?

moneyHOP is a neobank that provides cross-border banking experience to Indians via two products, i.e. HOP Remit and HOP app’s multi-currency bank account with international debit + FX card.

Who are the competitors of moneyHOP?

Some of the competitors of moneyHOP include Airwallex, NiYo, Nium, Fi, Transferwise, and more.

How much funding has been raised by moneyHOP?

moneyHOP has raised a total of $1.2 million in funding. The last round was raised in September 2021.

January 11, 2023

How to Analyse the Location for Your Business?

The location of your business determines how much money you will save while running the business. Depending on the type of business you have, you need to figure out a number of things that directly impact your pocket. Analyzing the location that suits your business needs is one of the important factors that every business owner should consider.

Here is a detailed and to-the-point article to help you to decide the best location for your business. So, without further ado let’s get started.

Factors affecting business location
Nature of your business: retail, manufacturing and service-based
Impact of the internet: Ecommerce business
Demographics and purchasing power of customers
The Demand for products and service

Factors Affecting Business Location

There are many factors that can influence your business location decision, and the success of your business depends on each decision you make. So despite talking about so many influential things, the three major factors that influence the business location are

Proximity to labour
Proximity to consumers
Proximity to raw materials

Proximity to labour refers to how close your business is to having the skilled workers you want in your business. For example, some companies want so many labourers to work in their firm and to fulfil this requirement they set up their plant near a location where they can get skilled labours at a cheaper rate.

The most prominent example of this is Bengaluru, where most of the IT companies are headquarters. IT companies choose Bengaluru because they easily get a relevant skilled workforce to work with them. Companies do not need to take care of the accommodation for the employees if they are local. The same is true for the IT hub in California.

Similarly, proximity to consumers is for businesses that want to position themselves closer to their target customers. Proximity to materials for businesses that require extensive raw materials to use in their firm. The closer your business is to your requirement the more money you will save and earn while running the business.

Nature of Your Business: Retail, Manufacturing and Service-Based

Just like a doctor who recommends various tests and after analysing the test report, prescribes the medicine. Similarly, you also need to know your business in-depth, and based on the requirement of your business, choose the location. The first thing which should be recognized is the nature of your business.

So to analyse the best location for your business we have categorised the business into three types based on its nature and evaluate each business with three parameters of proximity to labour, consumer, and material.

Location for Retail Business

If your business is a kind of Retail business then it needs to be closer to its consumers. The priority of this kind of business is to supply all the essential goods to consumers in a feasible way. You can find a relevant crowd for your business by analysing the people around your desired business location and identifying their needs. If their daily requirement supports what you sell, then that location is good for you.

For the retail category, the area should be crowded and busy. If that area is suitable for your business then it might be suitable for other retailers also, hence you can see your competition nearby. Proximity to labour and proximity to material doesn’t play an important role for this kind of business but proximity to its consumer is the most important aspect.

For example, restaurants and cafes need to be situated near a busy area where there is a sufficient crowd.

Location for Manufacturing Business

Proximity to raw materials is the most critical factor for manufacturing businesses as it saves a lot of money and time in transportation and storage. Manufacturing businesses may also be located near the place where they get skilled labour at a cheaper rate. This is the reason, most manufacturers build their plants outside the town and cities.

In India, most of the manufacturing businesses like iron and steel plants are situated in the state of Jharkhand, West Bengal, Odisha, and Chhattisgarh in the cities like Jamshedpur, Bokaro, Bhilai, Rourkela, etc. The reason is simple, easy accessibility to raw materials and labour. Proximity to customers is not the most influential factor for such kind of business.

Location for Service-Based Business

Service-based business is not material-intensive hence it doesn’t need to be set up outside the city and towns. You will find restaurants, cafes, schools, colleges, carpenter shops, etc within your city. Location may vary depending on the service your business provides, for example, if you are a videographer you don’t need to think much about your location but if you are a restaurant owner then location is very important.
The location of the service-based business should be closer to its customers, the other two factors (labour and material) don’t have that much influence.

Impact of the Internet: eCommerce Business

The Internet has changed the way of doing business. Today, so many businesses have their existence just because of the internet. One of the most well-known examples is the Ecommerce business.

The target customers for this business are not limited to any particular region rather the seller can sell their product to anyone across the country. The market is open and possibilities are limitless. Location doesn’t matter a lot for such kind of business as it can be operated from anywhere.

Demographics and Purchasing Power of Customers

Every business owner should be aware of the demographics of their audience, and businesses should be near their potential customers. A successful business knows, who is the target customer and what they like to consume.

The revenue you generate will depend on the customers visiting your store and their purchasing power. If people in an area have more purchasing power then they consume more goods and more services.

Therefore, having an idea of the demographics and purchasing power of your potential customers around your business location would be beneficial for your business.

The Demand for Products and Services

What will happen when you open a non-veg restaurant in an area where everyone is vegetarian? Of course, this will affect your sales and therefore your revenue.

There must be demand for the product or service you sell at your desired business location. This aspect should be considered as it affects the overall sales volume. Demand determines the price you can charge for the product, if demand is high you can charge more and if demand is low then you have to charge low.

Conclusion

It becomes very important to choose the best location for your business as it has the potential to affect your business revenue in the long run. So take your time to analyse the location of your business and consider all the points mentioned above.‌‌

When you are just starting out, be smart and secure the place to operate your business. Also, keep in mind that your location may vary depending on the type of business and industry you are in.

FAQs

How to choose the right business location?

Consider the following factors before choosing the best business location

Competition
Demographics
Foot traffic
Infrastructure
Overhead costs

Is Location plays an important role in the success of your business?

Yes, location plays an important role in business development and profit-making as it directly influences the condition and environment of your business.

What kind of location would be best for your business?

The key to finding and choosing a good location is to evaluate factors such as footfall, labour and raw material availability as it will increase the number of customers and lower the cost of functioning.

What are the factors that affect the business?

The following are the factors that can affect the business

Proximity to labour
Proximity to consumers
Proximity to raw materials

December 26, 2022

Housejoy- Tech-driven Solutions for all Home-Related Needs

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organisations. The content in this post has been approved by Housejoy.

Though there are several startups in the home-maintenance segment, the sector is still dominated by non-organized players. One of the leading startups in this sector is Housejoy. Housejoy’s end-to-end technology-driven solutions for all home-related needs – right from construction to maintenance are paving a way for an indeed unique experience for its users.

Led by Sanchit Gaurav, Housejoy has kept cutting-edge technology at the core of all solutions and has a transparent and automated end-to-end process. Housejoy’s Construction and Renovation business is growing at the rate of 20% MoM and the growth seems unstoppable. Get an insight into the Success Story of Housejoy, its business model, founders, revenue, funding, competitors and more.

Housejoy – Company Highlights

Startup Name	Housejoy
Headquarter	Bengaluru
Sector	On-Demand Home Services
Co-founders	Arjun Kumar, Sunil Goel
Founded	2015
Area Served	India
Total Funding	$30.3 million
Parent Organization	Sarvaloka Services On Call Pvt Ltd.
Website	housejoy.in

Housejoy – About
Housejoy – Founders and How it Started?
Housejoy Journey and Growth
Housejoy – Name, Tagline and Logo
Housejoy – Business Model and How it Works?
Housejoy – Revenue
Housejoy – Funding and Investors
Housejoy – Startup Challenges
Housejoy – Competitors
Housejoy – Future Plans

Housejoy – About

Started in 2015, Housejoy is a leading tech-driven Construction, Renovation, Interiors and Home Maintenance company catering to all home-related needs of Indian consumers. The company offers end-to-end technology-driven solutions for all home-related needs, from construction to maintenance.

The company is a pioneer in introducing geo-targeted technology when it comes to home services. Housejoy has its services running in 6 cities with more than 10 categories, that too in a highly fragmented sector.

The app and website of Housejoy are akin to a cab booking system where you are first asked to provide your location and then book a service. Once the user selects a location, various services available in that area are displayed to the user. It works similar to food delivery apps like Swiggy and Zomato.

Like many other online platforms, users can pay through online modes, banks, and cash. The app was wildly successful and was known for its reliability with more than 1 million customers and 500,000+ downloads in its initial years.

Housejoy – Founders and How it Started?

Housejoy was founded by Arjun Kumar and Sunil Goel, Sanchit Gaurav in 2015. Housejoy founders Arjun & Sunil quit the startup in 2017.

Arjun Kumar and Sunil Goel, Founders of Housejoy

Saran Chatterjee was the CEO of the company from 2015 till recently, he is now a member of the board. Sanchit Gaurav joined him in 2018. The company is now led by Mr Sanchit Gaurav the CEO and founder of Housejoy.

Sanchit Gaurav, Co-founder and CEO of Housejoy

Sanchit has close to 16 years of experience in the Indian real estate market. A serial entrepreneur, he founded Gaurav Housing Development Private Limited in 2012. He is also a Director at Altima Realty and Infra Private Limited.

Sunil Goel worked in the IT leadership team for two decades in TESCO and eventually switched his job to TutorVista as the head of operations. Sunil launched a video platform to pre-screen candidates before they are hired by a company. This platform was named VU First.

While Sunil was working in TutorVista, he met Arjun. Bookadda was the startup initiated by Arjun and he had raised $5 million in funding for this venture. Bookadda was eventually acquired by Sapna Group.

Arjun had worked for MakeMyTrip. He had experience working in different fields like product development and payment systems at different companies. While Sunil and Arjun were exchanging various ideas for startups, they felt there are several issues with home cleaning and maintenance. It was a realization of the tremendous potential in this field.

After working on their startup for around 3 years, the duo called it to quit. Many uncited sources say that the founders were forced to quit by the board members.

Housejoy has recently made several high-level appointments to its senior leadership team with a focus on innovation and digital transformation, including bringing on board –

Gaurav Joshi as Senior VP, Growth and Strategy
Arpan Biswas, VP, Marketing
Neelima Ronanki as Associate Vice President, Design
Deepak Thakur as Vice President, Product and Technology

Housejoy’s team also includes experienced Designers, Architects, Structural Engineers, Engineers, Site Supervisors, Quality Controllers, and Sales Representatives.

Pallavi Vijaydeep, Lead Interior Architect.
Tibin A is VP, Founder and CEO’s office, Customer Experience and Process Excellence
Priyadarshi M is Head of Sales
Gaurav N is Head of Finance
Sagar P is Head of Human Resources

Housejoy Journey and Growth

Housejoy started as a home maintenance and improvement brand that offered a variety of services including plumbing, carpentry, electrical services, pest control and beauty in five major cities across India. The company has now expanded its offerings to tap the almost $30 billion home construction market in India which is currently dominated by unorganized sector operators.

The conventional, unprofessional and non-tech-based approach often leads to a lot of problems for its consumers. Timelines are not adhered to, handovers get delayed, there is no accountability of schedule or cost-overruns, and at times, plans are altered without the consumer’s approval.

Even the quality and costs of materials used in construction are usually concealed from the customers. Housejoy understands these pain points and is committed to providing clients with a one-stop-shop offering 360-degree home construction and home services solutions.

Housejoy also focuses on bringing specialized beauty and wellness services to the customer’s doorstep. The on-demand salon and beauty services by trained and experienced beauticians include skin care, hair and makeup, and bridal and spa services using high-quality products.

Housejoy – Name, Tagline and Logo

The founders then decided to launch a startup that provides services at home and wanted a name that depicted the offerings. They came up with Housejoy which means the joy of being served at your home with satisfaction.

The logo of Housejoy is the roof of a house and under that roof is a smile which depicts the name Housejoy.

Housejoy – Business Model and How it Works?

Housejoy works on a marketplace business model wherein they charge a commission for the services delivered through their platform. The commission ranges from 5% to 15% depending on the category. Customers can choose a service from either their website or mobile app and book the same. Housejoy works as a mediator between service providers and consumers.

The brand offers its services on its website and mobile app. Customers simply need to choose a service from the available options and book it. The service provider will reach the customer’s house and perform the task. Housejoy works as a mediator where service providers and consumers can find each other and connect.

Housejoy – Revenue

Housejoy reported revenue of INR 136 crore in fiscal (2019-2020) which is 4x times more than in 2018. Housejoy’s Construction and Renovation business is growing at the rate of 20% MoM and their future plans include building 2000 homes in less than two years.

The company has also seen a massive increase in demand for its house sanitization and fumigation services which is expected to continue rising over the course of the next year.

Revenue grew 19% In FY18 i.e. INR 37.85.
In FY 17, revenue was INR 31.79 Crore.
Losses shrunk by 29.44 %, from INR 70.2 crore to INR 49.53 crore in a span of one year ending March 2018.

Housejoy – Funding and Investors

Housejoy has so far raised a total funding of $30.3 million from investors such as Amazon, Matrix Partners, Growth Story, Vertex Ventures, Qualcomm, and others.

Date	Amount	Series	Investors
June 2015	$4 Mn	Series A	Matrix Partners
December 2015	$23 Mn	Series B	Amazon, Matrix Partners, Qualcomm Ventures, ruNet
December 2018	$1.34 Mn	Bridge Round	Matrix Partners
December 2018	$1.58 Mn	Bridge Round	Vertex Ventures, RTP Ventures, Sama Capital,Qualcomm Ventures
December 2018	$327k	Bridge Round	Ganesh Krishnan

Housejoy – Startup Challenges

The construction sector is labour intensive and hands-on. This is one of the foremost challenges that a startup like Housejoy faced in this domain.

“However, we keep everything streamlined with technology and ensure that any loopholes are addressed in a timely manner” says the team at Housejoy

Another challenge was the lockdown imposed after the COVID-19 outbreak which led to the disruption of its services. Initially, Housejoy operated for about a week by reducing the on-site presence of its workforce. However, work has picked up now and it has seen an increase in demand.

In future, the lean organizational structure where the number of on-site or in-house employees will be less will become a norm. The team at Housejoy are also going to focus on further automation of services so that the least possible disruption is caused to its services during any such unforeseen crisis.

Housejoy – Competitors

There are several companies and startups entering the home construction domain. Some competitors of Housejoy in the home-maintenance segment include Urban Company, Brick and Bolt, UrbanPro, Helpr, SBricks, Mr Right, Timesaverz, Bro4u, EasyFix, and Home Triangle.

Despite all the growth, the sector is still dominated by non-organized players. Housejoy’s vast expertise and in-depth understanding of consumer behaviour and needs have helped them create a unique profile. They have kept cutting-edge technology at the core of all solutions and have a transparent and automated end-to-end process. This ensures that all major stakeholders such as customers, sales teams, architects, designers, project managers and on-site engineers as well as the quality control and accounting personnel are on the same page.

Housejoy – Future Plans

Expansion of existing services and the addition of new areas is key for any organization. Housejoy has diversified its portfolio over the years in order to augment the business.

The Covid-19 pandemic highlighted the importance of branching out and innovation, even more. For instance, they have been focusing on constantly strengthening and modifying their service model by following customer feedback and inputs.

Post-Covid too, there will be a lot of focus on personal hygiene and sanitation. More people would opt to buy everything including groceries online. Housejoy has been receiving a lot of demand for organized at-home services and will be focusing on their on-demand beauty services too.

The company recently launched home fumigation services and is gearing up to do all that it can as a brand to ensure it helps its customers while ensuring the sustainability of the business. The overall goal of the platform is to become the largest tech-enabled construction and home services platform in India

Housejoy – FAQs

Is Housejoy shutting down?

No, there were rumours that the company might shut down but Housejoy confirmed that they are not shutting down and are planning to grow their services in India.

Who are the competitors of Housejoy?

The biggest competitors of Housejoy today are UrbanClap, TaskRabbit and Urban Pro.

What is the revenue of Housejoy?

Housejoy had a revenue of INR 136 crore in 2019-2020 which is 4x times more than in 2018. Housejoy’s Construction and renovation business is growing at the rate of 20% MoM.

What is the business model of Housejoy?

Housejoy works on a marketplace business model where the company charges a commission for services delivered through its platform. The commission varies across different categories. Some range from 7% to 10%, others lie in the range of 10% to 15%, and in the case of high ticketing services like construction and renovations, the commission may go up to 20%.

How much funding has Housejoy raised?

Housejoy has raised a total of $30.3 Million of Funding to date. Its most recent funding was led by Matrix Partners, Vertex Ventures, RTP Ventures, Sama Capital, Qualcomm Ventures and Ganesh Krishnan for $3.24 Million.

May 21, 2022

Navi Success Story – Driving Smooth Transition of Financial Services Even Amidst Pandemic!

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

Consumer durable financing demand is expanding across India as the country’s urban population grows, brand awareness grows, and disposable income rises. Because it was the only secure and available choice for customers during the lockdown, internet options reported increased usage of financial services.

The Indian banking system is undergoing an unprecedented shift. Digital lending strategies are getting popular, putting banks’ conventional retail lending procedures on alert.

Even though the transition is pandemic-driven, the technology revolution that swept the financial world in the pre-Covid eras was on the verge of launching digital lending platforms. However, the virus made it grow at an incredible rate.

In 2018, Sachin Bansal and Ankit Agarwal formed a financial services firm based in India called Navi. The headquarters of the company are in Bangalore. Digital personal loans, home loans, healthcare insurance, mutual funds, and microloans are all available through Navi.

The business today has millions of users, more than 3 billion apps downloaded, 825 thousand or more investors, 36 lakh or more satisfied customers, and 105 thousand or more health insurance policies sold to date.

Navi – Company Highlights

Startup Name	Navi Technologies
Also Known As	BAC Acquisitions (BACQ), NAVI Finserv
Legal Name	Navi Technologies Pvt. Ltd.
Headquarters	Bengaluru, Karnataka, India
Industry	Banking, Financial Services, FinTech, Insurance
Founders	Ankit Agarwal, Sachin Bansal
Founded	2018
Areas Served	India
Current CEO	Sachin Bansal
Website	www.navi.com

Navi – About and How it Works?
Navi – Industry
Navi – Founders and Team
Navi – Startup Story
Navi – Name, Logo, and Tagline
Navi – Vision and Mission
Navi – Business Model and Revenue Model
Navi – Funding, and Investors
Navi – Investments
Navi – Acquisitions
Navi – Growth and Revenue
Navi – Products and Services
Navi – Layoffs
Navi – Competitors
Navi – Future Plans

Navi – About and How it Works?

Navi is working on a digital lending platform that will make finance-based services more economical, simple, and relevant to everyone. Navi is a digital lending software that offers you loans up to Rs. 20 lakh in an entirely cashless approach. The company’s platform enables customers to access financial services at a low cost through customer-friendly and innovation-driven enterprises in the financial services, banking, and insurance spaces.

IT and consulting services, non-banking financial services such as loans and microfinance, insurance products, and mutual funds are among Navi’s integrated activities. The Securities and Exchange Board of India has also granted the business a stockbroking and investment advisory license, according to the regulatory filing (SEBI).

The duration of the loans offered by Navi ranges from 3 to 36 months. Navi Finserv also offers 2-wheeler, residential, local business, and educational loans in addition to consumer loans.

Navi works in three simple steps:

Select the loan and EMI amount.
Complete KYC using Aadhar and PAN.
Instantly, money is transferred to your bank account.

Navi – Industry

During the projected period, the digital lending market is estimated to grow at a CAGR of around 11.9% (2022–2026). Because of the COVID-19 outbreak, SMEs all around the world struggled to raise funds to keep their operations running during the crisis period.

An important driver that is driving the industry’s expansion is shifting customer expectations and behavior as a result of the numerous advantages provided by the digitalization of banking and financial services. Consumers come from various backgrounds and will need the loan for several reasons, including personal loans, SME financing, and house loans, among many others.

The lending environment has evolved dramatically over the years because of the fast implementation of digitalization in the BFSI business. In several areas around the world, conventional lending is still practiced. The advantages given by digital solution providers, on the other hand, are progressively paving the way for business adoption of digital lending solutions and services.

Furthermore, various technical improvements, such as the widespread usage of smartphones, have resulted in a rise in the acceptance of digital banking across a variety of end-user industries. Artificial intelligence, machine learning and cloud computing are also beneficial to financial institutions and banks because they can analyze large volumes of client data. This data and information are then compared to produce findings on the appropriate assistance that clients desire, thereby assisting in the development of customer relationships.

Navi – Founders and Team

Navi was founded by Ankit Agarwal and Sachin Bansal in 2018.

Sachin Bansal - Co-founder of Navi — Sachin Bansal – Co-founder of Navi

Ankit Agarwal

Navi’s Chief Financial Officer is Ankit Agarwal. Ankit Agarwal studied computer science at IIT Delhi and then obtained an MBA from Ahmedabad’s Indian Institute of Management. Agarwal was previously the VP at Deutsche Bank. He also served as VP and Director at Bank of America before founding Navi with Sachin Bansal.

Sachin Bansal

Sachin Bansal joined Techspan after finishing his degree and worked there for a few weeks. As a senior software engineer, he joined Amazon.com India in 2006. He quit Amazon in 2007 and co-founded Flipkart with Binny Bansal, his business partner. Bansal had served as the chairman of Flipkart for over 10 years before leaving the company in 2018. The ex-founder of Flipkart then founded Navi in the same year.

Navi Technologies chief Sachin Bansal announced that the company has appointed Vidit Aatrey as its independent director. The co-founder and CEO of Meesho, Aatrey’s appointment has been effective since April 9th, which is still subject to the completion of some formalities. Abhijit Bose, Shripad Nadkarni, and Usha Narayanan are the three other directors named by the company; Bose is the Head of India of WhatsApp and the founder of Ezetap; and Nadkarni has worked with reputed organizations previously like Coca-Cola, Johnson & Johnson, and more. and Narayanan has previous experiences with Lovelock & Lewes Chartered Accountants LLP, PricewaterhouseCoopers, and more.

Navi – Startup Story

After leaving Flipkart in December 2018, Sachin Bansal and an IIT-Delhi alumnus created BACQ Acquisitions Private Limited, which was eventually rebranded ad Navi Technologies Private Limited.

Soon after leaving Flipkart, the co-founder and chairman changed course to continue his mission to make his long-term dream happen. Sachin Bansal had his heart set on another great thing, even as his Flipkart dream came to an end. Bansal’s insatiable pursuit of something new can be observed in the fact that he has only spent a few months since leaving Flipkart without investing in or acquiring a firm, mostly for his current venture, Navi Technologies.

Despite the lockdown, Navi’s founder and CEO invested INR 3,000 crore in his firm and built a personal lending app. Flipkart, like Navi, which has acquired a series of businesses in the last 2 years, was built on a foundation of mergers.

Navi – Name, Logo, and Tagline

Navi stands for “new” which depicts what the company stands for.

The new India is becoming more and more accepting when it comes to the digitalization of financial services and banking, which is what Navi does.

Navi’s tagline says, “Get Instant Loan using Navi.”

Company Logo of Navi

Navi – Vision and Mission

Navi’s mission statement says, “Our mission is to provide financial products and services that are simple, affordable and accessible by building a customer-centric and technology-first organization.”

Navi – Business Model and Revenue Model

When it comes to Navi Technologies Business Model, the company has emphasized technology-enabled financial and banking services, as well as the seamless integration of the neo banking model with traditional banking services and assurance. To gain domain understanding, Sachin Bansal has teamed up with fellow IIT Delhi alumni Ankit Agarwal, who is a banker by profession.

“Building a universal bank is a reflection of our commitment to provide financial services to those who need them most. Our vision is to go beyond what hitherto has been broadly defined as ‘financial inclusion and provide access to formal financial services using technology that people can use intuitively and easily.” – Sachin Bansal.

It’s worth mentioning that Navi only operated for 3 to 4 months in FY19. Navi’s NBFC business provided over 72% of this income in the form of interest income and related fees. The remaining 8% and 20% of revenue came from the insurance industry and advisory services, respectively.

Navi – Funding, and Investors

Navi Technologies has raised funding in over 6 rounds the latest round of funding was raised on May 12, 2022.

Date	Round	Amount	Lead Investors
May 12, 2022	Debt Financing Round	$ 72.62 million	–
Apr 13, 2020	Private Equity Round	$26.51 million	Gaja Capital
Apr 2, 2020	Funding Round	$398.99 million	Sachin Bansal
Jan 10, 2020	Venture Round	$30 million	International Finance Corporation
Nov 14, 2019	Funding Round	$117.97 million	Sachin Bansal
Jan 31, 2019	Angel Round	$7 million	Sachin Bansal

Navi Technologies, a four-year-old financial business helmed by Sachin Bansal, is the latest Indian fintech startup to submit a DRHP with market regulator SEBI. The loan-providing fintech business plans to raise INR 3,350 crore in the public market.

According to the DRHP obtained, the IPO offer would be made only through a new share issued. This means that no firm shareholders will sell their shares during the Initial Public Offering.

While reading the DRHP, the fact that Navi Technologies’ promoter, Sachin Bansal, has a massive 97.39% interest in the business was found. Because the IPO offer does not contain an OFS component, he will keep 97.39% of the stock after the Public Offering. This implies he owns more of his firm than the well-known Nayar family, which runs Nykaa.

Navi – Investments

Navi Technologies has invested in 6 companies.

Date	Organization Name	Round	Amount
Feb 10, 2022	Infra.Market	Debt Financing	$30 million
Jul 24, 2019	Kissht	Debt Financing	$6.06 million
Jul 17, 2019	boAt	Debt Financing	$2.42 million
Jul 3, 2019	Bounce	Debt Financing	$1.2 million
Apr 24, 2019	KrazyBee	Series B	$12.10 million
Mar 29, 2019	Bounce	Debt Financing	$4 million

Navi – Acquisitions

Navi Technologies has acquired 2 businesses to date.

Acquiree Name	About Acquiree	Date	Amount
DHFL General Insurance	DHFL General Insurance. is a Third Party Car Insurance company.	Jan 2, 2020	–
MavenHive	MavenHive is a Bangalore based tech consulting firm.	Dec 26, 2019	–

Navi – Growth and Revenue

Sachin Bansal, who has also been the founder of Flipkart, after getting an offer of $16 billion from Walmart, decided to sell his 5.5% stake in the company for Rs 7650 crore. However, this time with Navi, which he founded with a vision to build a financial services behemoth over the next two decades, he remained steadfast, which is the primary reason behind the growth of Navi Technologies. The company is already in the segments of asset management, insurance, and lending and is further looking to expand its horizons. The founder currently owns 97.39% of the company’s stakes, as per the reports dated April 3, 2022.

The Navi company has launched a metaverse-based fund of funds scheme, Navi Metaverse ETF Fund of Fund, with the help of its mutual fund arm. Anmol Como Broking sponsors the Fund of Fund scheme of Navi, which will be managed by Navi Mutual Fund. The Fund of Fund scheme-owned assets will be managed by Navi AMC Limited.

According to the company’s current documents filed, Sachin Bansal-led Navi Technologies became profitable in the fiscal year 2021, achieving a combined profit of Rs 71 crore. In the previous fiscal year, the firm had lost Rs 8 crore.

On August 18, 2023, Navi reported revenue of Rs. 438.7 crore for the first quarter of FY24 and the previous quarter (Q4 FY23). However, there was a 2.3X increase when compared to the first quarter of the previous fiscal year (Q1 FY23).

Navi Technologies Revenue Breakdown

Navi Technologies Revenue Verticals	FY21	FY20
Interest Income	INR 451 cr	INR 143.02 cr
Other Operating Revenue	INR 235.6 cr	INR 40.3 cr
Insurance Business Revenue	INR 92.4 cr	INR 15.7 cr

Navi’s sales increased by over 143% as the firm’s operations developed and the usage of banking and financial services via internet channels soared during the pandemic. The income was Rs 137 crore, up from Rs 56 crore the previous year, 2020.

The company’s total earnings increased by 251% from Rs 199 crore in FY20 to Rs 779 crore in FY21, demonstrating the company’s expansion.

The expenditures of Navi have increased by 217% year on year, from Rs 219 crore to Rs 673.8 crore (YoY).

Navi Technologies Expenses Breakdown

Navi Technologies Expenses Verticals	FY21	FY20
Employee Benefit Expenses	INR 169.7 cr	INR 61.6 cr
Advertising and Promotional Expenses	INR 38.7 cr	INR 1 cr
Other Operating and Admin Expenses	INR 190 cr	INR 95.58 cr
Impairment Loss on Financial Assets	INR 187.2 cr	INR 23.8 cr
Finance Cost	INR 88.2 cr	INR 37.02 cr

Navi Technologies Financials

Navi Technologies Financial Breakdown	FY21	FY20
Operating Revenue	INR 779 cr	INR 199 cr
Total Expenses	INR 673.8 cr	INR 219 cr
Profit/Loss	Profit of INR 71.2 cr	Loss of INR 8.07 cr
EBITDA Margin	30.15%	22.02%

The EBITDA of Navi improved positively. On a unit level, Navi Technologies has been reported to have spent Rs 0.86 to earn a single rupee of revenue during FY21.

Bansal had broken down the lending business, stating that the company’s microfinance loan book was worth Rs 1,500 crore and its non-microfinance loan book was worth Rs 600 crore. According to Bansal, the company was disbursing loans of Rs 350 crore each month.

“We are now comparing ourselves with banks and NBFCs. That is why we describe ourselves as a financial services company that happens to be good in technology. I don’t like the word fintech, lot of fintechs don’t have (lend from) their own books,” Bansal had said.

Navi – Products and Services

Navi App

Navi app was released in 2020, and according to latest news the Navi Mutual Fund has effectively empowered 1 million Indians on October, 2023 by making investing money on the Navi app simple and reasonable.

Navi – Layoffs

According to sources, Navi just let go of 200 employees across the divisions of technology, products, and analytics on July 13, 2023. Employees had no prior knowledge of layoffs, according to sources. Meanwhile, a recruiter reported that the upper management had downsizing plans and that HR policies were in place to make sure that not much severance was needed to be paid.

Company spokeperson said, “Navi conducts performance appraisals twice a year, which results in expected departures from the company. However, Navi continues to have multiple open positions and the company is expected to continue hiring many new employees this year, including a batch of 150+ campus hires who will be joining in August.”

Navi – Competitors

Navi Technologies’ main rivals include:

Autorite Des Marches Financiers
FIS
Abhipra Capital
Tacotax

Navi – Future Plans

Navi Technologies, owned by Sachin Bansal, is allegedly aiming to file a draft red herring prospectus (DRHP) with SEBI for a 4,000 crore initial public offering (IPO) shortly.

According to sources, the firm plans to make its initial public offering (IPO) in June of this year. The IPO will be conducted purely through fresh share issuance, with no component of an OFS (offer for sale). Bansal owns almost 97% of the firm and will not dilute his holdings in the IPO.

The IPO is intended to aid Navi’s expansion in personal loans, microfinancing, and mutual funds, in addition to its mutual fund operations. Navi is also expected to utilize the funds to fund its expansion goals, which include creating a loan book of 20,000 crores in the next two years and obtaining roughly 15,000 crores in debt from the public markets over the same time frame.

Navi became a public company in February 2022, in preparation for an initial public offering. The fintech firm has enlisted the aid of ICICI Securities, BofA Securities, and Axis Capital to manage its public offering.

FAQs

Who founded Navi?

Sachin Bansal and Ankit Agarwal founded Navi.

When was Navi founded?

Navi was founded by Ankit Agarwal and Sachin Bansal in 2018.

Is Navi NBFC registered?

Navi Finserv (Navi) is an RBI-registered non-banking financial company (NBFC).

How does Navi operate?

IT and consulting services, non-banking financial services such as loans and microfinance, insurance products, and mutual funds are among Navi’s integrated activities. The Securities and Exchange Board of India has also granted the business a stockbroking and investment advisory license, according to the regulatory filing (SEBI).

Who are Navi founders?

The Navi startup founders are Sachin Bansal and Ankit Agarwal.

May 12, 2022

Recko – Simplifying Financial Operations for Businesses

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Most entrepreneurs stress the challenge of reconciling transactions; it’s one of those necessary evils that everyone has to deal with but no one wants to do. We’ve heard individuals complain about the necessity to reconcile payments over the years in banking and payments. Over last few years, there has been a continual increase in the number of online payments, making it tough for many businesses, banks, and financial firms to keep track of expenses flowing around the organization. Recko is a corporation that specializes in financial reconciliation. Started with the mission to help businesses manage their financial operations with agility, simplicity, and innovation, Recko aids businesses that deal with several legs of payment processing as part of their daily operations in keeping track of and reconciling all financial transactions. Recko has reconciled over 250 million payments valued at over $2 billion in its first year alone.

Recko – Company Highlights

Startup Name	Recko, Inc.
Headquarters	Bangalore, Karnataka, India
Industry	Financial Services, Software, FinTech, SaaS
Founders	Prashant Borde, and Saurya Prakash Sinha
Founded	2017
Current CEO	Saurya Prakash Sinha
Website	www.recko.io

Recko – Latest News
About Recko and How it Works?
Recko – Logo
Recko – Founders and History
Recko – Mission and Vision
Recko – Products and Services
Recko – Business Model & Revenue Model
Recko – Revenue and Growth
Recko – Funding, and Investors
Recko – Competitors
Recko – Challenges Faced
Recko – Future Plans
Recko – FAQs

Recko – Latest News

In October 2021, Recko got acquired by San Francisco-based Fintech company Stripe. Stripe offers a wide array of services including payment and billing services, and tools for managing business operations. By acquiring Recko, Stripe is set to expand its services further. As per the deal, Recko’s entire team will join Stripe’s remote engineering hub and will work to develop and scale Stripe’s products.

About Recko and How it Works?

Through Accounting reconciliation, businesses can keep track of their transactions. With the expansion of business, reconciliation becomes a tough job. Especially with more and more online transactions being done these days, reconciliation has become even more cumbersome. This is where Recko helps.

Recko is a Software as a service reconciliation artificial intelligence-based software that assists finance teams at eCommerce marketplaces and transactional platforms in keeping track of the entire transaction cycle and business deals in order to avoid slipping and tripping hazards.

“The finance department on the merchants’ end is continuously dealing with this complexity of matching the right amount to right order, returns/ replacements and a lot of orders also move between months. All they have excels, spreadsheets and traditional ETL (extract, transform, load) tools which are cumbersome and error-prone. This is where we come into the picture,” said Saurya Prakash Sinha, Recko cofounder and CEO.

Recko was created with the goal of providing financial stability to businesses with significant transaction volumes, such as e-commerce platforms, insurance companies, and banks, by automating the entire reconciliation process. It ensures that each transaction is recorded and that all settlements are completed on time because it is an independent third-party transaction reconciliation layer.

“This also helps when customers have to be refunded as we use many different ways to make a single payment these days (including wallets, vouchers, gift cards, net banking and CC),” added Prashant Borde, cofounder and CTO at Recko.

Besides reconciliation, Recko also helps businesses in commission calculation, Payout creation, and reporting, to aid businesses to track, manage and account money end to end.

Recko’s current team consists of 60 people with extensive experience working for e-commerce and fintech companies such as Flipkart, Amazon, Nutanix, PhonePe, Ola Money, Razorpay, and others.

Recko – Logo

Recko’ s Company Logo

Recko – Founders and History

IIT Gandhinagar alumni Prashant Borde and Saurya Prakash Sinha launched Recko in 2018.

Founders of Recko - Prashant Borde and Saurya Prakash Sinha — Founders of Recko – Prashant Borde and Saurya Prakash Sinha

Prashant and Saurya are serial entrepreneurs and have have robust industry experience. Prashant Borde co-founded shared computing platform GridAnts in 2012, which was later renamed Cubeit. The platform was acquired by Myntra in 2016, after which Prashant joined Jio.

Saurya worked for industry leaders like Flipkart and Phone Pe. In 2015, Saurya co-founded urban logistics and on-demand delivery platform ‘Townrush’, which was later acquired by Grofers. Saurya joined Grofers as AVP(product) after the acquisition of Townrush. In 2017, Saurya founded Recko along with Prashant.

The duo had hands on experience of developing processes that aided the product and finance teams in contributing to the company’s growth and accelerated financial governance. This led them to discover that organizations of all sizes battle to keep track of payments and face manual restrictions when it comes to reconciliation, computations, and scaled monetary operations management. Thus Saurya and Prashant decided to intervene and help businesses to manage their finances better by simplifying reconciliation, commission calculation, Payout creation, and reporting.

According to its founders, Recko reconciled transactions totaling $2 billion in its first year of business. Grofers, Dunzo, FreshMenu, and Meesho are just a few of its clients. It also has different monetizing methods in place, depending on the client’s needs, including volume and per-transaction costs.

Following are some of the primary gaps Recko is trying to close –

Unstructured data in large quantities
Use of a large number of people
Transparency and traceability of operations are lacking.
Time and expense spent on reconciliation have grown.

AI plays a role in resolving these issues on various levels. First, algorithms aid in the extraction of relevant information and analysis from more than 80% of data, which is critical in the financial domain because fintech models would be unable to function without data.

Furthermore, because they can’t always trace an error back to its source, most organizations set aside a specific proportion of revenue error to accommodate for reconciliation checks. To close this gap, Recko automates the reconciliation process, making it possible to track financial data throughout its full lifecycle. It accomplishes this by utilizing APIs to link with payment gateways, banks, and merchant order management systems, allowing firms to track receivables and uncover settlement problems. According to Recko, this reduces manpower investment by 50 percent to 60 percent.

Recko – Mission and Vision

Recko’s mission statement says, “Recko was started with the mission to help businesses manage their financial operations with agility, simplicity, and innovation. Today’s businesses need a collaborative interlock between their finance, product, and business functions to grow exponentially and stay ahead of the competition. Be it reconciliations, payment operations or complex commission calculations; Recko does it all.”

Recko – Products and Services

Reconciliation – Bringing your company’s transactions up to date in terms of accuracy, efficiency, and speed.
Commission Calculation – Automate your entire charge calculating procedure and keep track of external payment SLAs.
Payout – To disburse payments to customers and subcontractors, the company integrates easily with payment partners.

Recko – Business Model & Revenue Model

Recko is a B2B company, and earns revenue by charging subscription fee from its clients.

Without writing a single word of coding programs, Recko allows financial teams to ingest, enrich, and reconcile millions of transactions in hours rather than days. Recko cuts labor by 50 to 60 percent while keeping a close eye on transactions to guarantee money goes to the right parties at the right time with the correct deductions.

Recko is now processing enormous amounts of transactional data to digitize financial control within organizations, as well as developing Machine Learning models to detect abnormalities, risk, and intelligence in the money flow.

Recko – Revenue and Growth

The revenue for the Fiscal Year 2019 was USD 388K, up from USD 186K in the previous year. Recko’s customer’s includes top marketplaces like Grofers, Meesho and Dunzo.

Recko – Funding, and Investors

In its latest round of Series A funding raised on April 2020, Recko received $ 6 million. Vertex Ventures SEA and India led the financing, with Prime Venture Partners joining as an existing investor. Here are Recko’s funding details-

Date	Round	Amount	Lead investors
Apr 2, 2020	Series A	$6M	Vertex Ventures Southeast Asia & India
Aug 27, 2019	Seed Round	–	–
Jun 26, 2019	Seed Round	$1M	Prime Venture Partners

Recko – Competitors

iPaymy, Pulse iD, SAP Concur, Sage Intacct, G2 Deals, Bill.com, Tradeshift, Invoiced, DocuWare, Spendesk, Riovic, and SureCash are among Recko’s main competitors.

Recko – Challenges Faced

The product needed to be stable because the company was working with extremely large data volumes. As they add features to the product, it continues to evolve. The aim is that the number of problems and inconsistencies will decrease as time goes on. Since the platform handles finances, the team at Recko needs to be extra careful so that nothing goes wrong.

“We needed to be precise, and we needed to be correct at scale. The crew spent a significant amount of time double-checking the figures.”, the Recko CEO said.

On the technology side, figuring out how to process these transactions was a significant issue for everyone on the team, since this used to take them over 3-4 days to handle more than 50-60 million transactions. They can now complete it in 30 minutes.

” for reconciliation, we are almost running at 100 million transactions in one hour. So the systems are becoming much faster. The idea is how do we do this at a much cheaper cost and faster. So this is where a lot of investment is going in,” said the CEO, Saurya Prakash Sinha.

Supporting scale was one of the issues they confronted. To make scale and security a basis in the architecture, Prashant says they had to redo a major portion of the first iteration.

Recko – Future Plans

“As we onboarded new customers, we realized that businesses looked at data very differently across industries. We did not want to leave any stone unturned, but we had a mission — to give the best of it. We added analytics, custom reports, commission calculation, and other integrations including storage services, payment gateways, and banks,” says Prashant.

The team quickly began working with clients from various industries and geographical places. Recko introduced geographies such as Southeast Asia and the European Union. Versioning was also released to support audit logs and time travel capabilities that needed to be reworked to allow future growth.

“We are planning to open APIs as well so that they can be integrated deeper into companies’ tech stack to solve a multitude of problems. Our long-term goal is to provide enough insights that enable businesses to make financial decisions in real-time,” says Prashant.

Recko – FAQs

What does Recko do?

Recko is a Software as a service reconciliation artificial intelligence-based software that assists finance teams at eCommerce marketplaces and transactional platforms in keeping track of the entire transaction cycle and business deals in order to avoid slipping and tripping hazards.

When was Recko founded?

Prashant Borde and Saurya Prakash Sinha launched Recko in 2017.

Which companies do Recko compete with?

iPaymy, Pulse iD, SAP Concur, Sage Intacct, G2 Deals, Bill.com, Tradeshift, Invoiced, DocuWare, Spendesk, Riovic, and SureCash are among Recko’s main competitors.

October 26, 2021

Ezetap – End-to-End Digital Payment Solutions

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Ezetap.

With mobile phones and applications changing the digital landscape, businesses have acknowledged the need for a shift in how they serve their consumers. Mobile point of sale programs, also known as mPOS apps, are becoming increasingly popular, according to industry estimates. Because of technological advancements in Bluetooth and Wi-Fi connectivity, mPOS adoption has been extremely successful all over the world including India. Bangalore-based startup Ezetap is a major mPOS solution provider in India. Here is more about Ezetap, the startup’s journey, and its functions.

Ezetap – Company Highlights

Startup Name	Ezetap Mobile Solutions Private Limited
Headquarters	Bangalore, Karnataka, India
Industry	Financial Services, Software, FinTech, Point of Sale, Mobile Payments
Founders	Abhijit Bose, and Bhaktha Keshavachar
Founded	2011
Current CEO	Byas Nambisan
Website	www.corp.ezetap.com

Ezetap – Latest News
What is Ezetap?
Ezetap – Name, Logo, and Tagline
Ezetap – Founders and History
Ezetap – Mission and Vision
Ezetap – Partnerships
Ezetap – Business Model
Ezetap – Revenue and Growth
Ezetap – Funding and Investors
Ezetap – Acquisitions
Ezetap – Competitors
Ezetap – Challenges Faced
Ezetap – Future Plans
Ezetap – FAQs

Ezetap – Latest News

As of February 2018, Ezetap announced the launch of EzeSmart, a smart GPRS gateway with Aadhaar payment and eKYC that is fully accessible.

EzeSmart, which is based on Ezetap’s global payment acceptance platform, is the first POS terminal in the country that can take all types of payments, including UPI, Bharat QR, and Aadhaar Pay. It can also take payments from a variety of mobile wallets as well as credit and debit cards. It’s a smartphone-integrated terminal that lets companies run any of their system apps on it.

The company stated to the press that EzeSmart is tailored to support the strategic and technical needs of various industrial sectors, including govt., by allowing a person with an Aadhaar-linked bank account to transact conveniently by simply touching their finger on the device’s fingerprint reader. This allows microfinance companies who deploy this terminal to provide services to rural consumers and accept payments online.

What is Ezetap?

Ezetap is one of the first companies that came up with digital payment solutions in India. The company’s first product launched in 2013, was an mPOS card reader that could be connected to a smartphone via the audio jack. Currently, Ezetap has a variety of digital payment solutions that let businesses accept digital payment seamlessly. Ezetap offers tailor-made payment solutions for different sectors like small and large retail shops, eCommerce and logistics companies, and government organizations.

From businesses to cab drivers to supermarkets and pizza delivery drivers, the technology allows anyone to accept cards. Online retailers, insurance companies, restaurants, and hotels are among the clients of the company.

Ezetap started with a single payment offering and pivoted to a SaaS model in 2020. Ezetap’s payment solutions come with many attractive features like multibank acquiring and auto-reconciliation and offer a variety of value-added services that businesses can opt for.

Ezetap – Name, Logo, and Tagline

Ezetap has made making and receiving payments as easy as a tap. That’s where the company name is derived from.

Ezetap’s Company Logo

Ezetap’s tagline is, “Transforming the world of payments”.

Ezetap – Founders and History

Ezetap was founded in 2011 by Abhijit Bose and Bhaktha Keshavachar. Both the founders had previous expertise in payments and hardware firms, and they merged their talents, skills, and knowledge to create this solution.

Abhijit Bose who served as the CEO of Ezetap exited the company in 2018, after which the then CFO of Ezetap, Byas Nambisan took over as the CEO. Presently Byas Nambisan is the CEO of Ezetap.

In 2019 Bhaktha Keshavachar also exited Ezetap to start his own deep tech startup, Chara Technologies.

Founders of Ezetap - Abhijit Bose and Bhaktha Keshavachar — Founders of Ezetap – **Abhijit Bose** and **Bhaktha Keshavachar**

At the start of the decade, Internet connectivity and smartphones were becoming commonplace in India, and e-commerce companies were gradually gaining popularity. Ezetap founders Abhijit Bose and Bhaktha Keshavachar spotted an opportunity to make payments more widely accepted in India. Ezetap became one of the first startups to try to convert Cash on delivery shipments to electronic payments, which was one of the earliest application cases for Ezetap in the year 2013.

“We built an EMV-compliant payment device that could take payments in conjunction with a commercially available smartphone and a card reader designed and assembled in India. We also created a payments SDK that would work behind a company app, hiding the complexity and compliance rigmarole of payments behind the ‘pay’ button,” Bhaktha Chaterjee, Head of Products at Ezetap.

The company chose to stop producing its own gadgets in India in 2018 and instead started sourcing them from overseas manufacturers. The Ezetap team is highly focused on improvising its services, and there are even instances where Ezetap team members accompanied e-commerce delivery agents to the doorsteps of end-users to collect feedback on the payment experience.

Ezetap – Mission and Vision

Ezetap’s mission is to empower businesses to receive payment seamlessly via any mode of payment.

Ezetap’s mission statement says, “Our Mission is to be the single platform through which businesses complete any financial transaction with their customers, supporting every instrument and method that those customers want to use”

Ezetap – Partnerships

Ezetap’s Universal payments banking partners are Citibank, HDFC Bank, American Express, Axis Bank, ICICI Bank, Mashreq Bank, RBL Bank, State Bank of India, and Yes Bank. The State Bank of India also partnered with Ezetap as its MPOS partner, with the goal of expanding electronic payments and micro-ATM to every corner of the country. However, this SBI-Ezetap partnership came to an early end. Recently Ezetap partnered with Axis Bank for Launching the My Vyapaar app, an app dedicated to retail businesses. The app comes with many features like attractive buy now pay later options and encourages digital payment by offering exciting rewards.

Ezetap – Business Model

Ezetap pivoted to a Software-as-a-Service business model, allowing retailers to accept transactions online via physical cards, internet payments, and mobile wallets with a single click via UPI, at a time when PoS firms make money from transaction fees.

The startup has altered the payment procedures of brick-and-mortar merchants, e-commerce players, enterprises, government agencies, and financial inclusion institutions using a Software-as-a-Service payments system.

Ezetap – Revenue and Growth

Ezetap’s operating revenue increased by 3% to Rs 45.06 crore in 2017-18, up from Rs 43.77 crore the previous year. According to the papers, the net loss increased to Rs 40.47 crore from Rs 30.71 crore during the period. From Rs 78.69 crore to Rs 92.17 crore, the company’s expenses climbed by 17%.

During the time, employee benefit expenses, such as provident fund, gratuity, and compensated absences, increased by 14% to Rs 33.33 crore from Rs 29.01 crore.

For the fiscal year 2017-18, total revenue was Rs 51.70 crore, up 7.77 percent from Rs 47.97 crore in 2016-17.

As per some reports, Ezetap’s valuation on June 2021 is $126 Million.

Ezetap – Funding, and Investors

Date	Round	Amount	Lead Investors
Mar 7, 2018	Venture Round	–	Prime Venture Partners
Aug 23, 2017	Series D	$16M	–
Aug 7, 2015	Series C	$23.5M	Social Capital
Mar 20, 2014	Funding Round	–	–
Feb 20, 2014	Series B	$8M	Helion Venture Partners
Nov 1, 2012	Series A	$3.5M	Social Capital

Ezetap – Acquisitions

Acquiree Name	About Acquiree	Date	Amount
FortunePay	FortunePay offers comprehensive end-to-end electronic payment platforms and services to acquiring banks and merchants.	Jun 20, 2017	–
Clinknow	The Best Way To Find Shoppers, Not Just Window Shoppers.	Jun 2, 2014	–

Ezetap – Competitors

The top competitors in Ezetap’s competitive set are Mswipe, Innoviti, Mosambee, Pine Labs, Payswiff, ePaisa, Bijlipay, MobiSwipe, Yoyo Wallet, Obopay, STC Pay, and PayRange.

Ezetap – Challenges Faced

According to Ezetap CEO Byas Nambisan, the traditional challenge was that payments have the friction of MDR charge that requires a specific device and adoption of some software technology. And the company has been at forefront of it, for example driving down the cost of the device. When the company first got into this business, there wasn’t any device available for less than 70 USD. Ezetap was the first to get it below the 50 USD point, which was 3000 INR at that point in time. Now it’s for 800-1000 INR and less, for the device.

There were many merchants who weren’t that ready for the deployment of this mode of payment which also served as a challenge for them. But now, as everything is turning into a digital platform, whether they like it or not, merchants have started deploying the usage of digital payment solutions in their businesses to access their customers from all over the world.

Ezetap – Future Plans

Ezetap’s Universal Payments platform is unusual in that it allows businesses to accept any type of payment, anywhere, on any device, with any banking partner of the consumer’s preference. Customers will have a seamless payment experience thanks to a single integration into an organization’s current infrastructure.

While many large firms, well-known eCommerce, insurance, and mobile companies, have adopted Ezetap and adopted its integrated solution, the company sees great opportunity in developing small and medium enterprises.

Ezetap – FAQs

What does Ezetap do?

Digital payment solutions are developed by Ezetap Mobile Solutions. Ezetap offers a variety of options like POS, mPOS, UPI, and SMS pay options, kiosks with payment modules, etc.

When was Ezetap founded?

Ezetap, a Bengaluru-based startup, was founded in 2011 by Abhijit Bose and Bhaktha Keshavachar.

How does Ezetap make money?

Ezetap is a SaaS company and earns money from subscription fees.

Which companies do Ezetap compete with?

The top competitors in Ezetap’s competitive set are Mswipe, Innoviti, Mosambee, Pine Labs, Payswiff, ePaisa, Bijlipay, MobiSwipe, Yoyo Wallet, Obopay, STC Pay, and PayRange.

October 25, 2021

HappyLocate: Relocation Made Simple

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by HappyLocate.

In this increasingly globalized world, migration has become a norm with regard to various factors, mainly for employment. Relocating to different places opens up a different world to an individual, however, one of the most troublesome parts about relocating is the tedious job of packing and shifting and it is difficult to find the best relocation services in India.

The team at HappyLocate consistently work to make the process of packing and relocating, simple, easy and smooth. HappyLocate is a packer and movers startup that works with India’s finest 25+ Packers and Movers to make your move a cakewalk. Happy Locate packers and movers also offer corporate relocation services.

HappyLocate – Company Highlights

Startup Name	HappyLocate
Headquarter	Bengaluru
Sector	Relocation and Transportation
Co-founders	Ajay Tiwari, Sainadh Duvvuru
Founded	2016
Total Funding	INR 4.4 Crore (~$600,000)
Parent Organization	HappyLocate Relocation Services Pvt Ltd.
Website	HappyLocate

HappyLocate – About and How it Works
Relocation and Transportation Industry Details
HappyLocate – Founders and Team
How was HappyLocate Started
HappyLocate – Name, Tagline and Logo
HappyLocate – Business Model and Revenue Model
HappyLocate – User Acquisition
HappyLocate – Startup Challenges
HappyLocate – Funding and Investors
HappyLocate – Advisors and Mentors
HappyLocate – Awards
HappyLocate – Competitors
HappyLocate – Growth
HappyLocate-FAQs

HappyLocate – About and How it Works

Bengaluru based Happylocate, is India’s first One-Stop Relocation Platform, conceptualized to reform the way India relocates. The company provides the best relocation services in Bangalore. Relocation has mostly been a nightmare and a tough experience to many where it adds to complications when users struggle to find the right vendors, face price uncertainty and ignorance on managing them.

Happy Locate is one of the top Bengaluru relocation companies is aimed towards delivering a memorable relocation experience to those who prefer a hassle-free relocation experience in its true sense. With over 25+ Packers and Movers already on board, HappyLocate assures a 98% damage-free relocation rate, dedicated move managers for each relocation, ensuring the best packaging standard and an experience that makes HappyLocate a service rated 4.8/5.0 on all the leading public platforms.

HappyLocate relocation services also extend to corporate relocation service through RELOSYS by HappyLocate; an AI-based tool that helps corporate execute relocations in a policy complaint and escalation-free manner. RELOSYS is a corporate exclusive offering that powers the employee relocation of some of the finest Indian enterprises including some of the top fashion, IT Companies and Beverage Companies.

One can book a service with HappyLocate in just four easy and simple steps.

Step 1: Visit www.HappyLocate.com
Step 2: Select Packers Movers Service, choose if it is “Between City” or “Within City” movement, Input origin and destination City and click “SUBMIT” or search for packers and movers near me and it will give you options.
Step 3: Choose amongst 3 options – Quick connect, Pre Move Survey OR Share Inventory.
Step 4: Choose Packers Movers listed as per the search criteria displayed AND Click “Connect”.

According to many happylocate reviews, users are also may book Hotels as well on HappyLocate.com within India. The happy locate packers and movers platform has over 16000 Hotels displayed on HappyLocate to choose from and has competitive rates with many premium, luxury and corporate budget hotels good for an initial short stay.

Relocation and Transportation Industry Details

Relocation, as an Industry is interesting & full of potential as you will easily find packers and movers startups that offer the best relocation services India. The following facts present the existing gap between the demand and supply side of the relocation industry. It is this gap that facilitates numerous opportunities for a company in this industry to grow and flourish.

80+ frauds related to the Relocation Industry are reported each day. That’s more than 29K+ frauds reported every year.
The Industry is full of seasonal and pretentious Packers and Movers and home shifting services who have a prominent position in the market. Just to give a picture, the most prominent mover of Industry does not own something more than 2% of the entire Market.
Relocation as an Industry is full of dissatisfied customers. The factor is so prominent that none of the national players today is ranked anything above 3.0/5.0.
Relocation as an Industry works like a perfectly competitive market but prices its services like a monopolistic competitive one. So the same service from two different vendors can vary drastically in terms of the cost on no apparently justified reasons. It is also easy to I’ve relocation services or the top packers and movers by simply searching for packers and movers near me.

HappyLocate – Founders and Team

Ajay Tiwari & Sainadh Duvvuru are the Happylocate founders as they established happylocate relocation services Pvt ltd together. They were connected via a common friend & both of them came together in early 2016 to work on the very foundation of HappyLocate Bangalore office.

Ajay Tiwari & Sainadh Duvvuru – Founders HappyLocate

Ajay Tiwari is the Co-Founder & CEO of HappyLocate. This Happylocate founder created benchmarks and worked as an entrepreneur in his 13 years of HR career with companies like Nokia, Vodafone, and Alcatel Lucent. His passion for creating value helped with the conceptualization of HappyLocate, to reform the way India relocates.

Sainadh Duvvuru is the Co-Founder & CBO of HappyLocate. He was an entrepreneur with 5+ years of experience in Operations, Sales & Marketing with BPCL and HDFC Bank. While this Happylocate founder is an IIM alumnus with a vision to create a scalable system, streamlined HappyLocate – helping people relocate better.

In terms of the work distribution, while Ajay takes care of investors, relocation & corporate sales, while Sainadh takes care of finances & internal operations.

HappyLocate has a small yet equipped team, while you can start Happylocate careers like relocation business and packers and movers. The average annual Happylocate salary for relocation services can reach up to Rs. 6.9 lakhs. Be it consumer sales, marketing communications or technology, HappyLocate has some of the best in the Industry talent and takes accountability for their area of work.

How was HappyLocate Started

Ajay, coming from an HR background, saw relocation as a big hassle for all his fresh hires/existing employees. As he decided to take his startup plunge, nothing more than relocation looked like the right idea to work on. Sainadh and Ajay were in touch with each other for some time before starting the company. As Sainadh himself relocated 5 times in his life, he instantly connected with the idea and took the plunge of starting relocation services in Bangalore.

First started out as HappyLocate Bangalore, the platform is now serviceable across 15,000+ PIN codes across India. Initially, when they launched. However after happylocate funding in January 2019 and also after positive happy locate packers and movers reviews, the company has expanded its corporate sales force in Hyderabad, Mumbai, Kolkata & Delhi.

HappyLocate – Name, Tagline and Logo

HappyLocate logo stands for the startup’s vision which is to make relocation a happy process. While the HappyLocate packers and movers tagline is a “one-stop relocation platform” which shows that it aims to be a happy packers and movers company.

After spending a lot of time on working over the brand aesthetics, we finally decided to go with the most basic and initial versions of our branding.

HappyLocate Logo

HappyLocate – Business Model and Revenue Model

HappyLocate packers and movers conduct a pre-move survey to determine the quoted price. The purpose of a pre-move survey is to get the best estimate of the volume of the goods to be transported. It also helps to identify delicate & valuable articles, understand needs more closely to accurately project manpower and material requirements and therefore a right quote submission on that basis and this is what makes it one of the best Bengaluru relocation companies.

Corporate Relocation Services in Bangalore are HappyLocate’s prime area of focus. Users of the startup’s corporate relocation tool RELOSYS can have access to the tool through either a fixed per year cost or can access the same at “Pay-as-you-go” where corporates are required to pay only when they use the tool for their employee relocation.

All the payments are done in advance on HappyLocate.com through their secured online payment gateway only after a quote amount is generated and displayed in the Happylocate relocation services dashboard. They accept online payments through net banking, credit card, debit card or wallets associated with HappyLocate (HL).

HappyLocate – User Acquisition

Just within a year of its operation, HappyLocate has successfully acquired over a thousand users due to the sheer commitment and dedication with which the team at HappyLocate has worked. In order to spread its reach, HappyLocate has mainly relied on referrals, especially for corporate clients and have not spent much on conventional marketing techniques.

The interface of their website and the HappyLocate login is easy to use as you search for the particular relocation services is not difficult. The website also has a happylocate vendor login through which vendors and packers and movers can register.

It’s our sheer commitment to the utmost service level commitment that helps us retain our existing users and bring new users to a system with the help of WOM.

HappyLocate – Startup Challenges

The biggest challenge of the relocation industry is the way it has been operated. The problem starts with the fact that even the best packers and movers in the market have not shown any visible effort towards enhancing their customer experience. The result is a substantial low rating which is now common with every home shifting services.

Another problem is the way how the market works. The best player in the market enjoys no more than 2% of the market share. The reason being, relocation industry is full of seasonal/pretentious/duplicate movers. For the people looking for the best relocation services, finding the right mover who can assure a hassle-free relocation is very tough. Hence, getting together trustworthy vendors in one place was a major challenge in the initial phase and according to happylocate reviews, the platform has now successfully overcome intense research and compliance mechanisms.

We can today proudly say that we trust our vendors more than anything because all our vendors have wholeheartedly committed to us, on paper, a rigid packaging standard, a commitment of 98% damage-free relocation rate and a corporate grade relocation experience. Thanks to the commitment of our vendors and relocation managers, HappyLocate is today rated one of the highest on every public platform in the industry.

HappyLocate – Funding and Investors

On November 4, 2020, HappyLocate funding was estimated to be Rs. 4.4 crore in Pre-Series A round, and was led by Inflection Point Ventures (IPV) with participation from VM Ventures. It will use this Happylocate funding for scaling up its operations, technological upgradation, better market penetration and service expansion.

HappyLocate is a part of the prestigious Cowrks foundry & SLP accelerator programs. Additionally, HappyLocate has been incubated by Amrita TBI and is funded by a network of Angel Investors.

Unlike the experiences of a lot of others, our experience with Investors have been very positive and full of learning

HappyLocate – Advisors and Mentors

Some of the best Industry leaders are mentoring and assisting happy locate packers and movers. Currently, senior leaders of companies like Amazon and Wipro are mentoring the packers and movers startup.

HappyLocate – Awards

HappyLocate is one of the best packers and movers and its founders have been mentioned in IndiaToday, WASME – an organisation with consultative status to UN and other startup story blogs. HappyLocate is officially part of accelerator and incubation programs like Amrita TBI, Cowrks Foundry & SLP.

HappyLocate – Competitors

Some of those who could have been potential competitors are today HappyLocate’s partners. This potential pool of competition which includes India’s finest movers is already a part of HappyLocates’ corporate relocation pool. All in all, there is no such relocation platform in India that takes care of the entire relocation cycle from end to end. The main Happylocate competitors are Migrera, Pikol and Shiftkarado.

There are though some great startups like Migrera, Pikol and Shiftkarado who are trying to transform the Industry their way. We respect them and always look forward to learning from their style of dealing with the problem.

HappyLocate – Growth

HappyLocate relocation services are being accepted overwhelmingly in the target market, with much more love and acceptance than they anticipated. It is one of the well-known Bengaluru relocation companies as it has to be among has served 10,000+ relocation requests to date (December 2020). It has a network of over 100 verified movers and 16,000 plus hotels across the country.

HappyLocate is currently one of the most preferred relocation partners of India. Currently, the HappyLocate reviews are overwhelmingly positive with a rating of 4.8/5.0 on almost all the public platforms, HappyLocate relocation services Pvt ltd is also a preferred relocation partner for some of India’s finest enterprises including Coca-Cola, Nokia, ITC Infotech, OYO Rooms & ACKO Insurance. At present, the business has the best relocation services and has been growing at a capital annual growth rate.

Our stats, team and above all the way we are trying to solve the problem is being loved by Investors and perhaps that is what made us a preferred choice for our accelerators.

So if you are looking for packers and movers in Bangalore, Delhi, Hyderabad or Kolkata, do let check out their services!

HappyLocate-FAQs

Who Founded HappyLocate?

Ajay Tiwari & Sainadh Duvvuru are the HappyLocate Founders.

What is HappyLocate Funding to date?

HappyLocate is a part of the prestigious Cowrks foundry & SLP accelerator programs. Additionally, HappyLocate has been incubated by Amrita TBI and is funded by a network of Angel Investors.

What Does HappyLocate Do?

It is India’s first One-Stop Relocation Platform, conceptualized to reform the way India relocates. With over 25+ Packers and Movers already on board.

September 29, 2021

Tag: Bengaluru Startup

Digit Insurance: Revolutionizing General Insurance Through Technology

Digit Insurance – Company Highlights

Digit Insurance – About

Digit Insurance – Startup Story

Digit Insurance – Founder and Team

Kamesh Goyal

Philip Varghese

Vijay Kumar

Jasleen Kohli

Digit Insurance – Logo

Digit Insurance – Business Model

Digit Insurance – Revenue Model

Digit Insurance – Funding and Investors

Digit Insurance IPO

Digit Insurance – Shareholding

Digit Insurance – Growth and Revenue

Joined the Unicorn Club with a $1.9B Valuation

Digit Insurance – Financials

Digit Insurance Revenue:

Digit Insurance Expenses:

Digit Insurance Profit/Loss:

Quick Summary:

Digit Insurance – Awards and Achievements

Digit Insurance – Competitors

Digit Insurance – Future Plans

FAQs

Who is Digit Insurance Founder?

What insurances does Digit Insurance provide?

What is Digit Insurance valuation?

What is Digit Insurance business model?

Who is the CEO of Digit Insurance?

Which famous cricketer has funded Digit?

What is Jasleen Kohli relation with Virat Kohli?

Milkvilla: Bengaluru’s Fastest Delivery of A2 Raw Cow Milk – Pure, Microplastic-Free, and Freshly Delivered with an Innovative Cart!

Milkvilla – Company Highlights

Milkvilla – About

Milkvilla – Industry

Milkvilla – Founders and Team

Milkvilla – Startup Story

Technological Advancements at Milkvilla: Revolutionizing A2 Desi Raw Milk Delivery

Milkvilla – Tagline

Milkvilla – Vision and Mission

Milkvilla – Products/Services

Milkvilla – Business and Revenue Model

Milkvilla – Customer Growth and Retention Strategies

Milkvilla – Challenges Faced

Milkvilla – Marketing Campaigns

Milkvilla – Growth

Milkvilla – Achievements in Startup Programs

Milkvilla – Recognition and Achievements

Milkvilla – Competitors

Milkvilla – Future Plans

FAQs

What products does Milkvilla offer?

Who are the founders of Milkvilla?

Where is the headquarters of Milkvilla?

Acquisitions by Swiggy: Building a Stronger Business Through Strategic Expansions

LYNK Logistics

Dineout

Supr Daily

Forty-Eight East (48 East)

Kint.io

Scootsy Logistics Private Limited

Conclusion

FAQs

How much does Swiggy Acquire Dineout for?

Did Swiggy Acquire Instamart?

Has Zomato acquired Swiggy?

Swiggy acquired which company?

Swiggy is owned by which company?

moneyHOP Success Story – Enhancing the Cross-border Banking Experience

moneyHOP – Company Highlights

moneyHOP – About

moneyHOP – Industry Details

moneyHOP – Founder

moneyHOP – Startup Story

moneyHOP – Product and USP

moneyHOP – Name, Tagline and Logo

moneyHOP – Business Model and Revenue Model