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Tag: Cred

  • Cred Ads: How Cred is Reinventing the Advertising World?

    Think about this, You met two people, one of them is a normal repetitive behaving human and the other person is wacky or amusing. Who, out of these two people, will you like more and thus befriend them? If your answer is the wacky casual person, then you belong to the majority of people who chose this.

    This is normal human behaviour to look out for something that is different than the rest. Something that is unique to the herd. This analogy does not only apply to people but everything. By everything I mean, quite a lot of things.

    Speaking of differentiating factors, let us talk about something that we all are always covered with. ‘Advertisements’. ‘Go anywhere and you shall find ads’. This is not a movie dialogue, but it can be, who knows the future? Most of the ads we see are generic bull crap. Same repetitive things over and over again. Which most of us of course don’t mind at all.

    We ignore most ads except a few iconic ones. Those are the ads with wacky traits ! One of the trending examples are for instance Cred ads. They are really turning the air. This is an article about those ads and why Cred has resorted to having these ads.

    What is Cred?
    The Wacky Cred Advertisements
    Efficacy of the Cred Ads
    Follow ups and downs of Cred Ads
    FAQ

    What is Cred?

    Cred is a 2018 startup. Lead by Kunal Shah and a smart team. It primarily rewards people for paying credit card bills on time. The company is quite making the headlines. From going a unicorn to making funny ads on the internet. Cred is a member only club that entertains only some people with a certain credit score.

    In its future, it will become a big club of trustworthy people. Individuals that can be trusted with money. This group once made can be made or converted into many useful permutations. Imagine using it as a dating platform of trustworthy people.

    Suppose it is a platform where trustworthy people get more and better discounts than others. This in the long run is expected to make everyone want to be trustworthy. So it rewards people who pay bills on time. Moreover it urges everyone to honor their commitments. This is the end goal of the company according to the charioteer Kunal shah.

    Cred was officially announced as official partner for IPL. IPL is one of the most watched sports of all time. With the perfect mix of cricket, Bollywood, and big money, IPL is in a league of its own. Though the franchise is loved for its cricket, it thrives on its profits. Cred paid a huge amount to be the official partner for IPL.

    This is a little about the company. Now let’s talk about the campaigns it does. If you live online, like most people in the last one and a half years, then you must have come across these. The company is quite famous for its hilarious advertisements.

    The Wacky Cred Advertisements

    If you notice everyone talking about a funny advertisement, you can safely assume that Cred is stirring the trend. The reel shows celebrities doing weird and funny things. Activities that are not in their set of usual behaviour. We can call it anti behaviour. For instance, Rahul Dravid having anger issues, Kapil Dev the OG, acting like Ranveer Singh. However weird the ad may seem, they are the ones who set the charts now.

    Auditioning celebrities

    During IPL 2020, videos of celebrities getting auditioned for Cred ads went viral. They were thoughtfully made to propel views. As we told earlier, Cred is a members only app. They kicked “Not everyone gets it” as their tagline. The ads showcased celebrities dancing and singing weird dance numbers to get selected. They were not selected because ‘Not everyone gets it’.

    Making top celebrities and singers dance on hilarious songs, made the campaign viral. They are shown as if you were watching a funny meme video.

    The Concept behind the ‘Not everyone gets it’ Ad

    When we look at these ad campaigns, we become a little perplexed. What is the purpose of these baffling ads ? The answer is, to get as much attention as possibly one could. Or to get as many impressions.

    The reason for tickling your funny bone is to make you remember. However if you look at the description of the video, you will see, “We are not in the ad business but in the credit card business”, “Our search for the next ad continues, till then voice over has to be done”. This subtly tells the motive behind the company ads.

    Generally speaking, the motive of any advertisement is to get the message of the company to the public, In a clear and precise manner. This is exactly what the “celebrity auditions” did. It showed stars not getting selected for Cred ad. This showcases exclusivity. Which is the basis of the credit card reward club.

    Great for the good

    At the time of IPL 2021, another campaign that was shot and became a hit too. This time the tagline was “Great for the good”. Which simply means that Cred is great for the good. Shifting the focus point on rewarding good behaviour. As the company packages itself into a reward generating app. That is exclusive for creditworthy people.

    The campaign starred celebrities, yet again in never seen before roles. These went more viral than the previous.

    One of the ads showed Rahul Dravid “angry” in a road rage.

    Another one had Kumar Sanu selling insurance via singing.

    Kapil dev acting like Ranveer Singh.

    Neeraj Chopra going frenzy over his own achievement and more.

    All these lineups of ads were a hit, instantly. The reason is the ‘absurd’ behind these videos.

    The Concept

    The concepts of these ads are unbelievable. Which lays the foundation of the advertisement itself. It shows how Cred rewards are unbelievable. It shows how the idea of ‘paying your generic credit card bills’ and getting rewards is unbelievable.

    This clearly communicates the idea of what the brand has to offer. Cred has to offer rewards to bill payers. The fact that you are getting incentivized for good behaviour is unbelievable. This marks the inception of this campaign.

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    Efficacy of the Cred Ads

    Efficacy means the ability to produce desired or intended results. It is a medical term but we are using it in this context. The ads are doing well. They are quite able to stir the trends here and there.

    I mean, if you see Virat Kohli tweeting about an ad or Deepika Padukone posting on IG captioning “Indiranagar ki gundi hoon main” or “I am Indiranagar’s gangster”, you know it’s a quirky Cred ad.

    Deepika Padukone Instagram
    Deepika Padukone Instagram

    They are criticized by some for being too much, but the majority just enjoys it. They are quite far successful in creating a stir. Their app as of now has more than a crore installs. The only thing left here is to look at what this startup achieves at this scale.

    Follow ups and downs of Cred Ads

    So we all read about how Cred is making their own sort of advertisements. It has started a cult of quirky marketing campaigns. For instance, the ad video of Magicpin that follows the exact analogy as that of a Cred ad. The company came into the picture to dig out the point of apps that reward points.

    The video had comments, some criticizing the Cred ad and some appreciating the good parody. This clearly shows how the internet janta, is of various views. Some criticize the pointless points that these apps provide. Some frequent users are good with getting better deals with these points.

    The video was aired on 16th of April. Here we are quoting Kunal’s tweet that was posted on the same date. It can be related or it cannot be related.


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    Conclusion

    Not just tickling ads but Cred is also making a social presence. The startup is also focusing on creating content around the domain of money and investment. They are hosting a YouTube series titled “On the money”. They also hosted a playlist named “Cred curious” in the past.

    If you visit their Instagram handle, you will get crazy insights on how money and economy works. Moreover, they also manage a blog of the same nature. So ads are just the upfront to add a pinch of quirk.

    These advertisements, due to their peculiar nature are both criticized and praised. If we notice skewness of data, we will find praises more than critiques. With our attention spans getting lower and lower, we want concise information. This is when meme marketing comes to mind. Some people like to follow the trend while companies like Cred like to reinvent the wheel again.

    With every advertisement campaign, Cred keeps increasing the bar. whatever they will do in future, “Paying your bills on CRED hits all the right notes”. This far, they are quite successful in clubbing trustworthy people. This is a good view of their goal as well as ongoing efforts on building a brand value. So, next time you see a celebrity acting all frenzy, you know it’s a Cred ad.

    FAQ

    Why Cred is advertising so much?

    Cred is investing in advertising campaigns to highlight the use of the Cred app and the rewards that one gets on paying credit card bills.

    Who are the competitors of Cred?

    CRED’s primary competitors are MobiKwik, PhonePe & Paytm.

  • The Meme Era: How Meme Marketing Is Becoming The New Way To Brand Success?

    Welcome to the internet, Anything that your brain can think of can be found. We’ve got mountains of content and among these zillion ways to engage, A meme is the most recurring.

    So, what is a meme ? – Asked no one ever.

    Everyone knows it, everyone has seen it, Even if you are an anti social media advocate, you know it. Wikipedia says, The term ‘meme’ is a shortening (modeled on gene) of ‘mimeme’, which comes from Ancient Greek, meaning ‘imitated thing’. The word was coined by British evolutionary biologist Richard Dawkins in The Selfish Gene (1976) as a concept for discussion of evolutionary principles in explaining the spread of ideas and cultural phenomena.

    What is a Meme?
    How Memes Changed Marketing?
    Memes in The Exciting Future
    FAQs

    CRED Meme Marketing

    What is a Meme?

    A meme is an image, video, piece of text, etc., typically humorous in nature, that is copied and spread rapidly by internet users.

    Needless to mention that we live in a hyper hyper connected world. Yes, I used the word hyper twice, you know why. The medium is high technology penetration and the Internet. Believe it or not, a meme is one of the most shared items among all in the online world. These quirky texted images have high sharing value, that is they are highly contagious and can pierce nicely through the human brain. Now if you have questions like why ? Then my friend, you’re underestimating the power of humor. Humor is the best way to build rapport with fellow sapiens.

    Another interesting thought is that earlier the word ‘Viral’ wasn’t used as much. Also it was used in the context of medical field to identify bacteria or viruses that travel and transmit fast. Can you think of the fastest medium through which a virus can travel to spread ? Air, yes. It is the air-borne bacteria that travel the fastest. From that usage, we have come to a time when anything over the internet can go viral. The reason is hyper connectedness. Anything humorous can go viral. Internet is the new air, truly and metaphorically.

    Graph showing usage of the word ‘Trend’ over last 5 years (Via Google trends)

    How Memes Changed Marketing?

    Marketing is to present a company’s product in the best possible way. It can also be called catching people’s eyeballs. Now in the times when most, If not all the eyeballs are looking at the memes. It would be a smart move to catch memes first. That is exactly what companies are doing, they are placing their name on memes. They are doing marketing by way of memes.

    Modern problems require modern solutions.

    Combination of marketing and memes has led to the establishment of one of the quirkiest ways of marketing, MEME MARKETING. We see that anything weird or funny or weirdly funny can go viral and can turn many eyeballs to themselves. These memes are the new marketing tools because they have high sharing value.

    We can’t move forward in this direction without taking a few examples. The most famous example we can think of is that of Zomato. Their meme game is lit, that’s what millennials are calling. The company recently got public and customers love this brand for its relevant memes that they share on their social handles.

    Zomato Meme | Zomato Instagram Post
    Zomato Meme | Zomato Instagram Post

    This is their latest Instagram post. The subject is about Cristiano Ronaldo’s splendid performance and the underlying subject is zomato delivery boys(wearing red).

    Previously

    They made a tweet in 2019 that went immensely viral. It was liked thousands of times, had several thousands retweets and praised by the CEO Dipinder Goyal himself. It was,

    “Guys, kabhi kabhi ghar ka khana bhi kha lena chahiye”

    (Guys, Sometimes eat home cooked food for a change)

    Witty tweets like these from Zomato have been widely appreciated. This is a funny and smart way to trigger humor in people, communicating what the brand does conveniently to its customers. Thus improving consumer relations. Moreover it led to many responses from other brands as well, who joined the conversation by commenting with some similar slurs.

    Guys, kabhi kabhi raat ke 3 baje, phone side pe rakh ke so jana chahiye – Youtube India.

    Guys, kabhi kabhi cable pe bhi kuch dekh lena chahiye – Amazon Prime Video.

    Guys, kabhi kabhi ghar par bhi baithna chahiye! – Ixigo

    Another example may include the recent unicorn CRED. Cred has been making funny songs as their marketing campaigns. These jingles are so catchy that you might humm them sub consciously. Cred’s success credit goes to its engaging marketing strategy. Create a marketing strategy that engages your audiences and turns them into customers.

    CRED Meme Marketing

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    Memes in The Exciting Future

    The future of this newly found genre of advertising/marketing is definitely exciting and obviously hilarious. They say that visual memes travel about 60000 times more than a normal plain text. faster than People, especially from Gen Z, love memes because they offer an entertaining analysis of everything. From your childhood trauma to the latest current affairs around the globe.

    And because pop culture is the cousin that marketing hangs out with, the former always influences the latter. Today’s customers go to the brands that make them laugh, that are relatable and bold.

    However there is also a dark side to these memes, They can be offensive. So a brand should cautiously test the waters gently first before jumping in this frenzy. So a meme is something of a relatable joke, That has to have humor. A meme without humor is like a joke that doesn’t make anyone laugh. You may get an A for the effort but if your work doesn’t make the reader go giggle, grin, or onto a relatable smile – you lose, And this happens more than you realise. That is not how you MEME.

    Use memes to trade good humorous exchanges with your customers and captivate them. Who knows—your meme might light up someone’s day!

    FAQs

    What is a meme?

    A meme is an image, video, piece of text, etc., typically humorous in nature, that is copied and spread rapidly by internet users.

    What does meme stands for?

    The term ‘meme’ is a shortening (modeled on gene) of ‘mimeme’, which comes from Ancient Greek, meaning ‘imitated thing’.

    What is meme based marketing?

    Meme Marketing is the art of creating any kind of brand narrative in the form of text, image, or video Memes and getting those memes shared on various Social Media platform for getting attention of customers.

  • Top 7 Interesting Facts about Cred you should know about

    The timeline of the credit users has been burgeoned in recent times with this ongoing evolving digital India, as people rely more on credit cards that play a beneficiary role towards them. Credit cards bestow much assistance to encounter the financial facilities or requirements of the holder such as rent, taxes or any other credit purchases.

    India has flourished in the field of credit facility that developed an India-based company CRED which authorizes users to pay off their expenses via an app. CRED is member-only credit management that allows the members who are eligible for credit accessing up to 750. CRED has been expanding its financial services in the past two years and becoming credible credit management in India.

    Therefore, CRED is an Indian FinTech startup that is fabricated to progress credit facilities by building a digital club of credit scores for its only-users.

    About CRED

    CRED was founded by Kunal Shah in 2018, a Bangalore-based financial market, which is designed to provide digital financial services to the people. Furthermore, the company has realised the need for digital demand, especially when the entire world is struggling during this ongoing pandemic.

    Consequently, Kunal Shah built a credit service to people through an app, which processes their remittance. The company has become a renowned financial service that partnered with over 38 brands and sponsored PL for three consecutive years.

    Let’s look at Top 7 unknown facts about CRED.

    CRED was Created by the former founder of FreeCharge
    CRED has Two prominent objectives
    CRED is a member-only Community
    CRED is one of its kind app in India
    CRED Struck a Three-year deal with IPL
    CRED offered Five Products
    CRED bolstered the people in the ongoing pandemic
    FAQ

    CRED was Created by the former founder of FreeCharge

    Kunal Shah is a serial entrepreneur who has formed CRED and is also the former founder of FreeCharge which was later sold to Snapdeal. The story of CRED commenced, when Kunal sold off his first venture in 2015, and began to spend that money like a dilettante and underscoring utilised some on the study of developing his new idea, and that is ‘Cred’.

    Prominently, people don’t situate their trust in financial institutions, so Kunal Shah created a frictional environment that engenders financial progress for the people which is considered to be reliable and trustworthy. In 2018, he inaugurated CRED along with key investors DST Global, Sequoia Capital, Ribbit Capital and Tiger Global.

    At the time of launching the CRED App over 1000 downloads were done with 4.6 ratings on the Google Play Store and App Store.

    CRED has Two prominent objectives

    CRED was formed with two primary objectives- to enhance life for creditworthy individuals and to actuate credit services to people to dilate the financial behaviour in the country.

    As of now,  CRED has boarded nearly 5.9 million users and functions around 20 per cent of credit payments in India. CRED is a community, where its member-only can avail themselves of the rewards for paying off their credit bills in full settlement.

    The company holds charges if the holder pays extra rupees on the full-settled credit payments. Up until now, CRED has raised funds overall around 227 million.

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    CRED is a member-only Community

    Every financial institution provides credit service, only if the holder goes with the eligibility criteria. The credit score should be more than 750, so you can be a member of the CRED community and redeem the rewards.

    CRED is one of its kind app in India

    This is the only app in India, which allows you to redeem for paying off your credit card bills. CRED has given various options to redeem your rewards- making a 1000 rupees transaction, you can ‘burn CRED coins’ to win Rupees worth 5 to 10 rupees that add to your credit card.

    On the other hand, ‘Kill the Bill’ you can just swipe the card to access offers from Swiggy, Yatra, BookMyShow, Freshmenu, Uber Eats and other fashion portals.

    CRED Struck a Three-year deal with IPL

    Every person watching an IPL match would understand the angst of having to go through the entire match watching multiple ads or having to watch the same ad multiple times. But the IPL seasons of 2020 and 2021 had some ads that caught the attention of the public.

    Yes, I am talking about the Indira Nagar Ka Gunda ad and the Madhuri Dixit and 90s stars ads from CRED.

    CRED Sponsor during a Ipl match
    CRED Sponsor during an Ipl match

    CRED has struck a three-year deal from 2020 – 2022 as a sponsor for the IPL. And the IPL Campaign has increased the daily sign-ups for CRED Membership by 6-7x in 2020. Payment of credit card bills during the powerplay offers a chance to win 100% cashback and was also well received.

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    CRED offered Five Products

    CRED offers five distinct products to its members. The services include:

    CRED RentPay

    A feature that allows tenants to pay the monthly rent to the landlord’s bank account directly using a credit card.

    CRED Cash

    A system that gives credit for interest that is one-third of the credit and it is fast and fully digitalised;

    CRED Pay

    A safe payment option and can be used as a single-click alternative in selected merchant platforms and offers discounts on brands like Bombay Shaving Co., Dine out etc.

    CRED Store

    The CRED app houses 1500+ brands in their in-app e-commerce and travel destinations domestic and international from which its members can purchase at a member-exclusive price.

    CRED Travel Store

    The travel store gives the members an option to buy now and travel later to exclusive places and CRED’s association with Mastercard provides premium packages at top hotels like The Taj.

    CRED bolstered the people in the ongoing pandemic

    During the second wave of the ongoing Corona pandemic, the need for oxygen supply was a major concern in India. CRED came out to help with the situation by partnering with NGOs like Milaap, Hemkunt Foundation and Give India.

    It gave its members an option to donate their CRED coins towards oxygen concentrators for COVID patients. In a later post, CRED revealed that more than 7.5 lakh members contributed their CRED coins and the donation to the cause was Rs. 10 Crore.

    Conclusion:

    CRED’s growth and popularity can be attributed to two facts. Firstly, the startup founder Kunal Shah who has seen success in his other startups and investors trust his ability in making a success of any venture he starts.

    Secondly, the astonishing fact that CRED’s revenue in FY20 was not more than INR 50 lakh but the estimated revenue projection for FY21 is INR 108 Crores which is 208 times the growth. Thus making another fact clear that CRED is another successful startup of Kunal Shah.

    FAQs

    What is CRED?

    CRED is a members-only credit card bill payment app founded by Kunal Shah in 2018 and is headquartered in Bangalore, Karnataka.

    How does CRED work?

    CRED allows its members to make payments using the app. The app’s focus is to make use of credit card payments easier, automated, and making payments early. Payments made using the CRED app allow the members to earn CRED coins.

    What is the eligibility to join the CRED community?

    CRED accepts only those credit card holders who maintain a credit score above 750. The credit score is checked using the number connected to the bank account and those who do not pass the criteria are shortlisted.

  • How Indian Startups are Backing IPL this Season

    Cricket is like a Religion in India and is worshiped here. IPL is one of the most most successful franchise cricket league in the world, for which every cricket fan awaits. Even the people who are not a fan of this sport watch IPL because of the entertainment it provides. IPL is enjoyed by many Indians, where the whole family gathers together and relishes it. In 2019 a whopping 462 million viewers watched the 12th edition of the league on Star network channel between March 23 and May 12th.

    Many big corporations have been sponsoring IPL for quite some time. After being on the driver seat of cricket sponsorship’s for nearly 2 decades the big corporates have now stepped aside and Indian startups have taken over the sponsor tags. This season of the IPL is sponsored by Indian Startups, Dream 11 and Cred.

    Timeline of Title Sponsors in IPL

    IPL title sponsors
    Title Sponsors in IPL

    DLF

    Real estate developer DLF won the deal with a bid of $50.3 million in 2008. DLF Ltd ended its five-year long association as the title sponsor with cricket tournament Indian Premier League (IPL) in 2012.

    Pepsi

    After DLF’s term expired in 2012, Pepsi Co got the title rights from 2013-2015 for Rs 79.2 crore per year. Pepsi Co had a five-year deal that was to end in 2017 but was ended in 2015 due to the 2013 spot-fixing scandal.

    Vivo

    In 2016, mobile company Vivo replaced Pepsi Co as the title sponsor of the Indian Premier League (IPL). Again In 2018 Vivo raised the title sponsorship revenue of the IPL by 454%. Vivo has pulled out as the title sponsor of the Indian Premier League (IPL) for this year’s edition, following backlash on social media. Vivo had paid Rs 2,199 crore for a five-year contract in 2018.

    Dream11

    After the recent clashes between India and China alongside the Line of Actual Control (LAC), ‘boycott Chinese products’ slogan became stronger all across the Indian markets. Amid the rising tensions between the two nations, Chinese smartphone maker, Vivo, decided to exit IPL for a year as of now.

    BCCI held a bidding process with an expectation of lower bids because of the COVID-19 effect on the markets. Dream11 managed to grab the title sponsorship rights for Rs 222 crore, leaving Byju’s and Unacademy behind.

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    Indian Startups Sponsoring IPL this Season

    After being on the driver seat of cricket sponsorship‘s for nearly 2 decades the big corporates have now stepped aside and Indian startups have taken over the sponsor tags. Indian startups are sponsoring IPL to improve their brand popularity and market share in the country. IPL title sponsorship is the perfect opportunity to expand global presence of your brand.

    Many Indian startups involved in the race to bag the title sponsorship of the Indian Premier League (IPL) but Mumbai based fantasy gaming startup Dream 11 bagged the deal leaving Byjus and unacademy behind.

    Dream11

    Dream11 is the title sponsor of the 2020 IPL and the sponsorship amount is Rs 222 crore. Dream11 managed to grab the title sponsorship rights for Rs 222 crore, leaving Byju’s and Unacademy behind. The duration of the sponsorship is until December 31.

    Mr Harsh Jain, CEO & Co-Founder, Dream Sports (Dream11) said:

    “ The launch of IPL in 2008 gave birth to the idea of Dream11. As avid sports fans, we wanted to offer fantasy cricket to IPL fans to help them further engage with the sport they love and showcase their sports knowledge & skill. Being a proud homegrown Indian brand that is made in India, by Indians and exclusively for Indian sports fans, we would like to thank the BCCI for giving us an opportunity to become the Title Sponsor of IPL.”

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    Cred

    Fintech startup CRED bagged the deal to be the official partner of IPL 2020. It has a three-season partnership which will see the association run through till the 2022 season. At the end of every game, Cred will reward the Payer of the Match where the 100th or the highest bill-payer during each match will win ₹100,000 in prize money, awarded in a special video conference ceremony and showcased on a ‘virtual fan box’ at the stadium.

    Kunal Shah, Founder and CEO, CRED, said:

    “We are extremely pleased to be associated with IPL, without a question among the most high-profile events on the world’s sporting calendar. CRED is aimed at giving millions of people access to the good life through improved credit standing, trusted community, and special experiences.”

    Unacademy

    Unacademy is a Bengaluru-based ed tech firm that has roped in as the official partner for the Indian Premier League (IPL) for three seasons. The sponsorship for three years will cost Unacademy INR 120-130 crore, reports suggest.

    “We are delighted to become the Official Partner of IPL. Unacademy is a high-intensity brand that has disrupted the education and learning market with innovations and broken geographical barriers for Learners and Educators.

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    Marketing is not just about making money, it’s also about making your presence felt in the market and IPL title sponsorship is the perfect opportunity to expand global presence of the brand. It is is one of the most successful franchises cricket league in the world. More than 70 matches over a period of 50 days are played. International and Indian cricketers turn out to play every day thus producing content that keeps the viewers tuning in the day in and day out is just what brands need. IPL has a sheer range of investment opportunities that makes it relevant to brands across various categories.

  • India’s Soonicorn 2021: A Closer Look At The Future Unicorns

    Over the last four years, the Indian entrepreneurship ecosystem has risen from 35K startups in 2016 to more than 55K startups in 2020 with more than $48.7 billion being raised during the revealed rounds of investment. As a result of the exponential growth in consumer demand and the increased use of digital goods and services by individuals and firms, more than 15+ unicorns have arisen in India since 2018. The word Soonicorn applies to start-ups that could become Unicorns whereas a unicorn is a startup carrying a value of up to $ 1 billion.

    Now let’s take a look at a list of the Soonicorns of India:

    1. MobiKwik
    2. CRED
    3. PayMate
    4. BharatPe
    5. Capital Float
    6. Acko
    7. Lendingkart
    8. KhataBook
    9. Fino Paytech
    10. Vivriti Capital
    FAQ’s
    Conclusion

    1. MobiKwik

    Mobikwik Logo
    MobiKwik Logo

    MobiKwik is an Indian organization founded in 2009 offering a digital wallet and a mobile payment system. Online wallets may be used for purchases to add money to their clients. The Bank of India reserve approved MobiKwik’s e-wallet to be used by the company in 2013 and began providing customers with small loans for its service in May 2016.

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    2. CRED

    Cred Logo
    Cred Logo

    CRED was founded by Kunal Shah in November 2018, after an investment of $1 M in Bangalore, India. CRED is an Indian credit card bill transferring app. CRED has been mentioned among the future unicorns by CB Insights in June 2020.

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    StartupTalkyArbaaz sayed

    3. PayMate

    PayMate Logo
    PayMate Logo

    PayMate provides a cloud-based network for big businesses and SMBs to move from slow, expensive forms, such as cash and checks, to digital payments in real-time. It digitizes the entire payment period to boost overall performance and minimize time, commitment, energy, and costs by more than 50 percent.

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    4. BharatPe

    BharatPe Logo
    BharatPe Logo

    BharatPe plans to make the deal via (15-day) deposits due to the dealer commercializing interest. In case of an emergency, dealer partners can, in 15 days from the deal, cancel the settlement by paying a withdrawal charge of 1 percent.

    5. Capital Float

    Capital Float Logo
    Capital Float Logo

    Capital Float was formed in 2013 and became the country’s largest digital lender. SMEs working in sales, trade, and logistics are given working capital loans. They also fund online and offline customer transactions by way of various A-list alliances.

    6. Acko

    Acko Logo
    Acko Logo

    Acko is an Indian general insurance company that is in the private sector. In line with a digital model, Acko offers a digital forum for all market activities for the company. The business seeks to promote startups as well. Acko expanded the financing of Amazon, Accel Partners, SAIF Partners, and Catamaran Ventures by 274 crores in 2018.

    7. Lendingkart

    Lendingkart Logo
    Lendingkart Logo

    Lendingkart Finance aims to ensure credit availability for SMEs who either have no or currently lack capital access to credit. The organization plans to pay out loans within 72 hours with limited paperwork. It seeks to transform small business loans by making it easier for small and medium-sized enterprises to access lending. Data security is very important for Lendingkart Community. All the details are kept private.

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    8. KhataBook

    Khata Book Logo
    Khata Book Logo

    KhataBook is a smartphone application that helps small business owners and Kirana stores handle their books in India by helping them track the money owing by means of a digital directory. Both data collected on the Khata Book App are kept safely in the maintained database. Password-protected access to the database is tightly restricted. In accordance with technical advances, the security procedures are checked and revised periodically.

    9. Fino Paytech

    Fino Paytech Logo
    Fino Paytech Logo

    Fino Paytech is an innovator, industry pioneer, and entrepreneur for organizations such as banks, government, and insurance companies.

    They are a corporate and technical banking network in combination with a wide variety of services. They even facilitate end-to-end consumer procurement and maintenance as an alternative banking platform.  Innovation has tackled the problems of the serviceability and scalability of existing banking networks.

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    10. Vivriti Capital

    Vivriti Capital
    Vivriti Capital

    The goal of Vivriti Capital is to build the largest and most significant financial network service that serves a customer base for institutions, corporations, small businesses, and people lacking efficient access to financial services. Their site CredAvenue is a one-stop solution to prospect, assess, conduct, and track debt. It’s an interactive business debt network.

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    FAQ’s

    What is a Soonicorn?

    Soonicorns are tech companies, fintech, or businesses with the potential to become Unicorns in the future.

    What is a startup unicorn?

    In the venture capital industry, the term unicorn refers to any startup that reaches the valuation of $1 billion. The term was first coined by Aileen Lee, founder of Cowboy ventures when she referred to the 39 startups that had a valuation of over $1 billion as unicorns.

    Is there any Unicorn in India?

    India now has 37 unicorns, having added 16 to the list in 2020. It stands third in global country rankings, well behind the US and China, but ahead of the UK and Germany.

    What is a tech unicorn?

    Unicorn is the term used in the venture capital industry to describe a startup company with a value of over $1 billion. Some popular unicorns include Airbnb, Uber, SpaceX, Robinhood, and SoFi.

    Conclusion

    In 2021 the startups that are performing well and are the most profitable will turn soonicorns. By the market size of these startups, we can expect new startups emerging as unicorns this year. Startups into Fintech, EdTech, and MedTech domains are in much demand due to the Covid-19. There is high demand for these startups and have the potential to grow in the coming days. We are seeing more startups in the field of FinTech. Fintech is the lead because digital payments have profoundly infiltrated metro and Tier 1 cities and now, other financial digital assets, such as finance, insurance, and neobanking, are more likely to become the addressable basis. In particular, lending firms and payments have been the main contributors to our soon-to-be-finished list.

  • Create Videos Within Minutes with InVideo

    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 the organization InVideo.

    Videos are one of the most effective ways to convey thoughts, ideas and concepts and is fast gaining popularity among the netizens. According to YouTube reports, mobile video consumption increases 100% year after year. Facebook generates 8 billion video views on average per day, while 53% of customers engage with a brand after watching a video on social media.

    However, to take advantage of this growing popularity of videos, one must concentrate on creating effective and creative videos, which is not a simple task for everyone. But now with ‘InVideo’ making great videos is indeed becoming everybody’s cup of tea. InVideo is a web based software that helps you create fantastic videos, no matter whether you are an expert or an amateur in video making.

    InVideo – Company Highlights

    Startup Name InVideo
    Headquarter Mumbai
    Sector Video Creation
    Co- founders Sanket Shah, Pankit Chedda and Harsh Vakharia
    Founded 2017
    Parent Organization Abstrakt Video Private Limited
    Website InVideo

    About InVideo and How it Works
    Founders of InVideo and Team
    How was InVideo Started
    InVideo – Name, Tagline and Logo
    InVideo – Business Model and Revenue Model
    InVideo – User Acquisition
    InVideo – Funding & Investors
    InVideo – Advisors and Mentors
    InVideo – Future Plans

    About InVideo and How it Works

    InVideo is a software on the web that provides seamless creative video creation services. It helps marketers, entrepreneurs, agencies, other small businesses to create professional-looking videos with ease. InVideo works with an intention to make video creation an effortless and friction less process.

    While there are video making software, which are either too simple that creates videos which is no better than PowerPoint presentations, there are some other software that are too complex to be used by a non-expert. InVideo’s USP is that it is a synthesis of both simple and complex video creation softwares available, thereby, having the best of both in one place.

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    Founders of InVideo and Team

    Engineering graduates Sanket Shah, Pankit Chedda and Harsh Vakharia Co-founded InVideo.

    Invideo Founders
    Sanket Shah, Pankit Chedda and Harsh Vakharia

    Prior to InVideo, the trio founded ‘Massblurb‘, an online automated platform, helping restaurants manage their end to end online presence. After ‘Massblurb’ got acquired by ‘Mobikon’, they decided to come together to set up InVideo.

    Currently, Sanket Shah is the CEO of InVideo. An Electrical and Electronic engineer by qualification, Sanket did Master of Science in Quantitative management from University of Michigan. Sanket worked with organizations like ‘Right Relevance,Inc’ and ‘Mobikon Asia Pte. Ltd’ in different positions. Apart from being a founding member of Massblurb, Sanket also founded ‘Visify Books’ – an interesting platform that presents main content of various books in video format. At InVideo, Sanket leads the Marketing and Sales department of the company.

    Pankit Chedda is the CTO of InVideo. After completing his B.E from University of Mumbai, Pankit studied ‘Masters, Information Systems Management’ from Carnegie Mellon University. He worked in technical positions with organizations like ‘comScore, Inc’, ‘CouponDunia’ and ‘Mobikon Asia Pte. Ltd.’ At Invedio, Pankit manages core tool technology.

    Harsh Vakharia, a chemical engineer by qualification, did M.S. in Industrial and Operations Engineering form University of Michigan. He worked in companies like A.T. Kearney and Mobikon Asia Pte. Ltd. Harsh looks after video technology and its details at InVideo.

    InVideo currently has a team of 45 people.

    How was InVideo Started

    A personal problem faced by the founding team has led them to establish InVideo. Back in 2012, the founding team were working on creating 10-minute video summaries of non-fiction books. The process of video production was a major hurdle for them back then as it consumed a lot of time.

    The team started looking for alternate solutions and realized that there are only two kinds of video creation tools:

    1. That allows the user to create a very basic video (which is worse than a presentation).
    2. Or one that will require a trained video editor to create a video.

    While the simple video creating platforms have minimal scope for creativity and customization, the advanced versions are too complicated for a normal person to create high-quality, innovative videos. Identifying such a gap and personally experiencing the absence of a platform that caters to the needs of an ordinary individual who wants to create innovative high-end videos; Sanket Shah, Pankit Chedda, and Harsh Vakharia have put in collective effort to create the InVideo company.

    When we researched, there were only simple video editors and complex ones; it did not work that way. So we did it! We ended up sitting beside a customer, observing them what we did – says Sanket, InVideo CEO

    Before launching InVideo, the team studied the customers’ needs extensively through primary research. They reached out to large news channels and eventually validated the idea. Further, they built a basic engine to get a direct response from the customers before launching on a full scale.

    InVideo Logo
    InVideo Logo

    The company deals in Video making, and hence the name ‘InVideo’

    If there’s any piece of content, our goal is to help people transform that content into great videos. So it’s like your content in the video. Thus the name ‘InVideo.’ – Sanket on explaining the thought behind the name.

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    InVideo – Business Model and Revenue Model

    The InVideo business model operates as a SaaS (Software as a Service) model. It is basically a software distribution model in which InVideo hosts applications and provides them to the customers over the internet.

    The InVideo revenue works on a freemium model, with paid plans starting at just $10 per month.

    InVideo – User Acquisition and Growth

    InVideo has over 800,000 users from more than 150 countries who have created videos in over 75 languages.

    When we had started building the technology, we had found partners like Republic TV, Network18, etc., who helped us in understanding what we should build.

    As InVideo was been built taking input from the customers, the company has managed to emerge strong and successful. With strategic planning, the team was able to build a market fit product, and from thereon, the mouth referrals have helped the company to get popular.

    So we built this company with our customers. And so it’s so successful. We went ahead and built the entire company with our customers.

    Furthermore, InVideo has undertaken intense marketing campaigns and growth hacking. Besides, they also adopted numerous other strategies and techniques to popularize the platform.

    InVideo takes great care of customer expectations and designs its products in sync with customer demand. The company also has a 24/7 customer support team that responds in minutes.

    Adobe Creative Clouds revenue is 6.5 billion, and they are only targeting professional video editors. We think that our market size is at least 10x because we are targeting anyone who is desiring to create a great video – says Sanket about InVideo’s target market

    Apart from this Launching LTDs has also helped them a lot in gaining new users.

    InVideo – Funding and Investors

    The InVideo Funding details are listed below:

    Date Stage Amount Investors
    May 2018 Seed Undisclosed Haresh Chawla, Kunal Bahl, Rohit Bansal, Ashish Tulsian (Posist), Nishcal Shetty (Crowdfire), Kunal Shah (Cred)
    October 2019 Seed Undisclosed Sequoia Capital India’s early-stage accelerator programme Surge, Blume Ventures, Omidyar Network & Lightspeed Venture Partners
    February 2020 Seed $2.5 Million Sequoia Capital India’s early-stage accelerator programme Surge, Anand Chandrasekaran & Gokul Rajaram
    October 2020 Series A $15 Million Sequoia Capital India

    InVideo – Advisors and Mentors

    Haresh Chawla, who is also an investor in InVideo is mentoring the startup

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    InVideo – Future Plans

    InVideo’s Net Promoter Score (NPS) has increased by almost five times, from 12 to 59 in just three months.

    Over the long-term, InVideo envisions to create an ecosystem like Adobe, enabling every marketer, entrepreneurs, who desire to create a video, to be able to do that easily. Now, InVideo wants to expand from a web platform to a cross-device and cross-function space. They are aiming for 5 million users in the next two years. The team is also planning to create a platform that will help users in creating templates.

    Our vision has been very simple, that actually we want to take over the world. When people think about video, they need to think about InVideo.

    So, if you are on the lookout for making a video, do give InVideo a try!

    Frequently Asked Questions – FAQs

    Who are the InVideo Founders?

    Sanket Shah, Pankit Chedda and Harsh Vakharia are the Co-founders of InVideo.

    What is InVideo?

    InVideo is a web based software that helps you create fantastic videos in a matter of minutes, no matter whether you are an expert or an amateur in video making.

    Is InVideo free?

    InVideo works on a freemium model so you can access InVideo for free but the customization options and the features you will be able to access are limited.