StartupTalky

Tag: Fintech Company

  • Zerodha Business Model & Revenue Breakdown: How Zerodha Makes Money, Grows, and Stays Profitable

    The way we save, invest, and exchange money is changing as a result of technological advancements in today’s lightning-fast financial industry. The pioneering force behind this transformation is fintech, an abbreviation for financial technology. When it comes to the stock market and online broking, Zerodha is what comes to the mind of an Indian. Zerodha is the most prominent and the leading discount brokerage company, founded in 2010. The company is the first-ever stock brokerage company that gave rise to discount brokerage options for investors as well as traders.

    ‌‌Today, Zerodha is the biggest brokerage company in India with a client count above 5 million. It is also known as the Robinhood of India.

    ‌‌The company contributes over 15% to every retail order volume in India on a daily basis through trading and investing in various stocks, Commodities, F&O, IPOs, and others. In this article, we have briefly discussed the business model and revenue model of Zerodha. Let’s get started!

    About Zerodha

    ‌‌Zerodha is an Indian fintech startup that has been shaking up the conventional brokerage sector since its founding in 2010 by brothers Nithin Kamath and Nikhil Kamath. The company’s name represents its objective to remove hurdles and democratize finance. It is a mix of “Zero” and “Rodha,” the Sanskrit words for obstacles.

    The largest online brokerage firm in India, Zerodha is widely famous for its discount brokerage option. Zerodha offers financial services with the main motive of providing low-cost services to customers. Zerodha is a significant member of BSE, MCX-SX, and NSE, which provides broking services to the traders of the stock market.

    ‌‌Zerodha is headquartered in Bengaluru and has a huge customer base. Zerodha is the first discount broker in India because of this, it gained huge support from the audience.

    An essential part of Zerodha’s success has been its dedication to offering traders and investors products that are affordable, easy to use, and driven by technology. Belief in creating a world without brokers is Zerodha’s motto. The financial market players will benefit greatly from this ideology. In addition to meeting the unique demands of each client, the organization strives to offer cheap trade services and first-rate customer service. Using cutting-edge innovation, innovative ideas, and unparalleled customer service, Zerodha aims to build a world without brokerages.

    ‌‌Besides, the most intriguing thing about Zerodha is that it always comes up with brilliantly innovative ideas supported by several strategic and definite efforts. Zerodha runs with the tagline of “The Free Trade Zone“.

    Moreover, Zerodha offers tons of open online education and community programs that uphold retail traders as well as investors.

    Zerodha Success Story – The Largest Stock Broker in India
    Zerodha is an Indian financial services company founded by Nithin and Nikhil Kamath in 2010. Check out Zerodha’s business model, revenue, profit, and more.
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    Zerodha Business Model Canvas

    Zerodha BMC
    Zerodha Business Model Canvas

    Key Partners

    • Fintech platforms like Smallcase, Streak, Sensibull, Quicko
    • Technology service providers
    • Regulatory bodies like SEBI

    Key Activities

    • Running trading platforms (Kite, Console)
    • Brokerage and margin trading operations
    • Developing fintech tools and APIs
    • Educating users through Varsity

    Value Propositions

    • Zero brokerage on equity delivery trades
    • Flat ₹20 fee for intraday and F&O trades
    • Transparent and simple pricing
    • User-friendly tech tools and mobile platforms
    • Free mutual fund investment via Zerodha Coin

    Customer Relationships

    • Self-service platform with online tutorials and support
    • Transparent reports and statements
    • Community building via social media and Varsity
    • Quick issue resolution through online support

    Customer Segments

    • Young salaried professionals (below 30 years)
    • First-time investors
    • Active intraday and F&O traders
    • Tech-savvy developers and fintech enthusiasts

    Key Resources

    • Trading and account management platforms (Kite, Console)
    • Kite Connect API
    • Skilled technology and support teams
    • Regulatory licenses and compliance systems

    Channels

    • Zerodha website and mobile app
    • Social media platforms like Instagram, Twitter
    • Referrals and financial influencers
    • Educational platform Varsity

    Cost Structure

    • Technology development and maintenance
    • Employee salaries and operations
    • Compliance and legal costs
    • Customer acquisition and marketing

    Revenue Streams

    • Brokerage fees on intraday and F&O trades (up to ₹20/order)
    • Interest income from margin trading
    • Demat account DP charges
    • Subscription fees from partner tools (e.g., Streak, Smallcase)
    • Float income from idle client funds
    • Annual account maintenance charges (₹300/year)

    Where does Zerodha operate?

    Zerodha is a financial service company that offers various retail and institutional-based brokerage, bonds, mutual funds, and currency & commodities trades. Zerodha operates in various states of India, including Hyderabad, Bengaluru, and Pune.

    Key Products and Services of Zerodha

    ‌‌The broking limited company, Zerodha, offers tons of key products to its customers. These products include Console for account management, Kite for trading platforms, Varsity for financial education, Quicko for the traders in Tax stems, Coin for Free Mutual Fund, Kite Connect API for the developers, Kill Switch for the risk management for retail traders, and Sentinel for the cloud-based market alert tool.


    Target Audience of Zerodha

    ‌‌Zerodha majorly targets its potential audience in Pune, Bengaluru, and Hyderabad based on the average age group of people below 30 years. It focuses on those below 30 people who are new to their jobs and have already started saving from their salaries and are searching for better saving and investing methods to increase their money effectively. With its incredible services and products, it has gained over a million active users.

    Zerodha Business Model

    ‌‌The most significant thing about the business model of Zerodha is the success and popularity it gained among the audience. Zerodha offers a very convenient service to its customers, because of which it gained absolute success in the strenuous market as well.

    Zero Brokerage Model

    When it comes to equity delivery deals, Zerodha stands out due to its zero brokerage strategy. This is a great alternative for long-term investors since it allows investors to purchase and hold equities without paying brokerage fees. They make money from many categories, including intraday trading, futures, and options, and others, by collecting a flat fee on each deal.

    Transparent Pricing

    Another important part of Zerodha’s business model is transparency. Importantly, being a fintech company they offer a straightforward pricing system. To prevent unpleasant unexpected events, traders can determine their trading costs in advance. Customers trust them more because of this openness, and they distinguish themselves from more conventional brokerages that have convoluted pricing structures.

    Zerodha USP

    ‌‌The entire business model of Zerodha is very transparent and has no hidden costs later on. It lets you know all your transactions and also provides a quick tutorial on online trading.

    It keeps all the information transparent and open to the customers. These facets help the company more vibrantly and gain more significant clients for trading.

    The USP of Zerodha is its zero brokerage concept. Traders don’t need to pay to trade stocks if they plan to keep them for longer than a day. There is no brokerage fee; all the trader has to do is pay their taxes. Brokerage fees from intraday and derivatives trading are Zerodha’s main source of revenue. For FNO trading, Zerodha has a fixed brokerage fee of INR 20 per order.

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    How Zerodha Makes Money | Zerodha Revenue Model

    ‌‌Zerodha is the biggest trading network with the highest number of active users in India. People across India use Zerodha for investing and trading. Zerodha revenue sources include brokerage fees, interest on margin funding, and income from partner platforms and technology services. The company charges only Rs. 20 (or 0.03%) for every F&O and intraday capital trade.

    Although its charge is pretty low, as a huge number of transactions take place, the company gains enough profit. Besides the account maintenance, it charges Rs. 300 annually.

    ‌‌From the records of the past few years, Zerodha experienced rapid growth. This results in the 2% contribution of investors in the stock exchange. This, later on, boosts the revenue of the company. With this revenue source, Zerodha raised its valuation worth $1 billion. The valuation of Zerodha is around $3.6 billion (2023).

    Along with stock trading, Zerodha also provides a platform called Zerodha Coin where users may invest in mutual funds without paying a commission. Numerous clients seeking an easy method to put their money into mutual funds have taken advantage of this service. The larger movement towards digital wealth management and the use of the term “hire a fintech developer” to describe the process of creating and managing such systems is congruent with this.

    Zerodha Financials

    Particulars FY24 FY23 FY22 FY21
    Revenue INR 9,994.5 Cr INR 6,877.1 Cr INR 4,964 Cr INR 2,729.6 Cr
    Expenses INR 3,119.3 Cr INR 2,992.7 Cr INR 2,165.1 Cr INR 1,260.2 Cr
    Profit after Tax INR 1,122 Cr INR 2,094 Cr INR 2,907 Cr INR 4,700 Cr
    Zerodha Revenue Model
    Revenue Model of Zerodha

    Zerodha has shown consistent growth in revenue and profit over the last few years. In FY24, the company saw significant growth in revenue and profit, continuing its upward trajectory from FY23.

    Zerodha Revenue Breakdown:

    Particulars FY24 FY23
    Revenue from operations INR 9,372.2 crore INR 6,832.8 crore
    Other income INR 622.3 crore INR 44.3 crore
    Total revenue INR 9,994.5 crore INR 6,877.1 crore

    Zerodha’s revenue has consistently increased over the last few years, with a notable spike in FY24. Revenue from operations saw substantial growth, and other income showed a significant rise in FY24 compared to FY23.

    Zerodha SWOT Analysis

    Swot Analysis of Zerodha
    Swot Analysis of Zerodha

    Zerodha Strengths

    • Zerodha has shaken up India’s traditional brokerage market with its novel approach to trading, providing clients with commission-free trading.
    • Customers can rely on quick and dependable trading because of Zerodha’s powerful technological infrastructure.
    • To meet the demands of traders with varying skill sets, the firm has created several trading platforms and tools.
    • Thanks to its user-centric strategy and great customer service, Zerodha has a high customer satisfaction rating.
    • To meet the varied investing needs of its clients, Zerodha provides a comprehensive suite of financial products, including stocks, bonds, mutual funds, and derivatives.

    Zerodha Weakness

    • The potential for growth and expansion is limited for Zerodha because its operations are limited to India.
    • Zerodha is at risk of cyber threats and system breakdowns because its business model is highly reliant on technology.
    • Brokerage fees and commissions are Zerodha’s only sources of income, which may lead to difficulties for the company down the road.

    Zerodha Opportunities

    • Zerodha has a great chance for growth due to the continuously expanding population of retail investors and traders in India.
    • Zerodha has a golden opportunity to grow its business by taking advantage of the growing popularity of online shopping in India.
    • If Zerodha wants to diversify its revenue streams and access new markets, it might look into foreign expansion prospects.

    Zerodha Threats

    • There is a lot of competition for Zerodha’s products and services from both well-established brokerage businesses and emerging startups.
    • Business operations and profitability at Zerodha are susceptible to changes in regulatory policies and guidelines.
    • Investor sentiment and trade volumes are influenced by economic uncertainty and market volatility, which in turn affect Zerodha’s revenue sources.

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    Zerodha is an online brokerage platform. Get insights into Zerodha’s Marketing Strategy that gave it success without Zerodha advertisements.
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    Conclusion

    ‌‌Even after this huge customer base, Zerodha is still working on expanding the company on a broad scale with a more significant client base. Nithin Kamath, the CEO of Zerodha, mentioned in an interview that he is aiming to take the company to a client base of 5-10 million in the upcoming years.

    Zerodha believes in promoting its services, as the company hardly spends any money on advertising channels. The company holds a great reputation in the market because of its incredible services and customer interactions. This has resulted in the comprehensive and impeccable growth of the company.

    Within the context of the Indian brokerage industry, Zerodha’s commission-free trading business model is characterized by an effective technological infrastructure, a high level of customer satisfaction, and diversified product offerings that offer significant value. These offerings are relatively uncommon and difficult to imitate, and a robust organizational culture supports them. This helps the company maintain its significant competitive advantage.

    In the upcoming years, Zerodha is expected to grow even more and expand more promptly. Stay tuned for more updates!

    FAQ

    What does Zerodha do?

    Zerodha Broking Ltd. is an Indian stock broker and financial services company. The company provides institutional and retail brokerage services, as well as currency and commodity trading. Additionally, Zerodha offers investment options in mutual funds and bonds.

    Is Zerodha free?

    Traders don’t need to pay to trade stocks if they plan to keep them for longer than a day. There is no brokerage fee; all the trader has to do is pay his taxes. For FNO trading, Zerodha has a fixed brokerage fee of INR 20 per order.

    What are the strengths of Zerodha?

    The strengths of Zerodha include commission-free trading, its technological infrastructure, versatile trading platform, high customer satisfaction, and its comprehensive financial products.

    What is Zerodha business model?

    Zerodha follows a discount brokerage business model, offering low-cost trading services in stocks, commodities, and currencies. It charges zero brokerage on equity delivery trades and a flat fee of ₹20 per order for intraday and F&O trades. The company earns revenue from brokerage fees, interest on margin funding, and its tech platforms like Kite and Coin. By focusing on technology and low costs, Zerodha has attracted a large base of retail investors.

    How Zerodha earns money?

    Zerodha earns money through brokerage fees on intraday and F&O trades, charging up to INR 20 per order. It also makes money from interest on margin funding, DP charges when clients sell shares, and subscription fees for premium tools like smallcase and Streak. Additionally, it earns float income from idle client funds.

    What is Zerodha valuation?

    Zerodha valuation is $3.6 billion.

    What is Zerodha tagline?

    Zerodha tagline is “The Free Trade Zone”.

  • Groww Marketing Strategy: How Groww is Winning India’s Young Investors—One Swipe at a Time

    “Mutual fund investments are subject to market risks. Please read the offer documents carefully before investing”. Most of us have heard these sentences on television in between the news breaks. Always wondered as a child what “mutual funds” meant. We all did. These sentences were etched in our minds and continue to live there rent-free. Share market, stocks, IPO, and the most beloved mutual fund, these terms are now a reality for anyone stepping into adulthood. Thanks to digital investment platforms, we all have at least one SIP tucked away safely in the name of investment. 

    In this article, we will be learning about one such investment platform that has emerged as the hero of retail investment. The tell-tale of Groww. Let’s understand Groww marketing strategy, its marketing mix, and its marketing campaigns in detail.

    A Brief Introduction to Groww

    As one of the simplest investment platforms, Groww now seems to be a retail investor’s favorite. The quartet Lalit Keshre, Neeraj Singh, Harsh Jain, and Ishan Bhansal conceived and brought this brainchild to life in 2016. Headquartered in Bangalore, the web-based platform has gained ground for investing in SIPs in mutual funds, IPOs, share trades, and gold investments. 

    With over 50 million users, particularly those under 40, Groww allows retailers to invest through the website or smartphone in over 5000 mutual funds. Despite being surrounded by contemporaries like Zerodha and Upstox, Groww has placed itself successfully in the Indian brokerage market with a propelling market share of 23.4%. As of January 2025, Groww has an active investor base of 13.23 million users.

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    Importance of Marketing Strategy in Fintech

    The Indian fintech landscape has witnessed significant developments in the recent decade. Despite formidable opponents on the global front, the Indian fintech market seems to be making headway by reaching out to oblivious and new investors from tier 2 and tier 3 cities. The digital world has certainly influenced, rather than disrupted, market trends and changed business behavior. Then why should the fintech industry hold back? 

    Groww, Zerodha, Uptsox, and IND money are some of the pioneers in encouraging the hesitant retail investors grappled by nationwide scams to get over their fear and wisely invest with minimal risks. Here’s where a marketing campaign or strategy wins.

    Services Offered by Groww

    The web-based investment platform allows you to invest with the following media:

    • Stocks and shares
    • IPO
    • NFO (New Fund Offering)
    • Mutual funds
    • Sovereign Gold Bonds

    Groww Marketing Mix

    Groww Marketing Mix
    Groww Marketing Mix

    Product

    Groww identified the pain points of conventional investing methods and introduced an app specifically to eliminate those frustrations.

    Some features that give it an edge over the others:

    • Zero account opening charges with simple digital KYC
    • Fractional share investing is a rarity in India
    • SIP calculators, investment guides, and education on personal finance

    Pricing

    Handing out premium services at minimum charges

    • Zero account opening and maintenance cost
    • Ultra-competitive commission charges for high-volume traders
    • Free education content is turning it into a lead-generation tool before monetization

    Place

    Groww’s primary goal is to dominate the fintech landscape through mobile investment

    Strategic distribution:

    • User-friendly, handy app for the average millennial investor
    • Collaboration with UPI platforms to enhance seamless bank integration
    • Insights on the latest IPO listings to attract organic traffic

    Promotion

    Groww has an active engagement from over 13M+ users, and it capitalizes on the young influencer and content creation business to build its brand

    Here are a few strategies applied by the brand:

    • Referral campaigns with incentives for sharing
    • Collaborating with India’s top financial influencers on Instagram and YouTube
    • Comprehensive product walkthroughs by the co-founders on YouTube, building brand presence

    Now that we know what Groww is and what it does, let’s delve into the crux of the matter.

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    Groww Marketing Strategy

    Digital Marketing

    Digital marketing utilizes online platforms to reach and engage with targeted audiences, driving brand awareness and sales through various digital channels. It includes strategies like SEO, social media marketing, email campaigns, and content creation to build a robust online presence. Let’s understand Groww’s Digital Marketing in detail:

    Content Marketing

    Groww’s digital presence has been exponential, with their digital/social media platforms consistently educating about financial literacy. Content marketing through blogs, newsletters, investment guides, webinars, and educational content has made audiences relate to the brand and helped them self-learn in their investment journey.

    Social Media Presence

    Groww has created its digital ecosystem through the following platforms:

    Facebook

    Groww’s Facebook page shares informative and educational content with its followers. It also has a discussion group that discusses the latest financial events, such as budgets. 

    Instagram

    Groww’s Instagram page is handled in several vernacular languages, including Tamil, Telugu, Kannada, Gujarati, Marathi, and Malayalam. Engagement is driven through interesting content and posts, along with influencer marketing.

    Twitter

    Groww uses Twitter to provide real-time market updates, insights, and consumer support.

    Youtube

    With over 2.4 million subscribers on YouTube, it offers tutorial videos and content on personal finance.

    Groww Marketing Strategy

    SEO and SEM

    Keyword Strategy

    A good SEO strategy is to mix up the right keywords to ensure your brand name is a reader’s top choice when searching for a topic. Groww’s SEO breakdown looks something like this:

    • Primary keywords: Investments, stocks, SIP 
    • Long-tail keywords: “How to start a SIP?”, “Mutual funds for beginners”, “How to open a demat account?”
    • Local keywords that focus on “mutual fund apps in India”, “best investment platform in India”, etc.

    On-page SEO and Backlinks

    On-page SEO optimizes title tags, meta descriptions, and headers with targeted keywords. Quality backlinks can be acquired through authoritative financial websites, guest blogging, and influencer partnerships.

    Referral Programs

    Groww’s referral program “Groww Referral” enables eligible users to refer new users. Head to the ‘Refer & earn’ section of the app. If you are eligible, you will see the option to ‘Share invite link’ or ‘Invite via WhatsApp’ on the ‘Refer & earn’ screen.

    Mobile App Strategy

    Groww’s user interface is extremely user-friendly. The dashboard provides an overview of your holdings in various types of investments, including shares, mutual fund SIPs, and gold. The onboarding process is seamless, which includes providing our details and KYC. 

    The app allows you to pick the best mutual funds by giving you a detailed performance report, including the level of risk, market cap, and overall growth. 

    In case you need to pause or stop investing altogether, the withdrawal process is equally seamless.

    Brand Trust and Credibility

    Over the years, Groww has created a genuine relationship with its users. Transparency regarding brokerage charges, authentic content, and a user-friendly app, creating a community for learning personal finance, are all important factors contributing to building trust and credibility for the brand.

    Partnerships

    To give its users more investment choices, Groww has teamed up with leading financial institutions, asset management companies, and stockbrokers. These smart partnerships have not only helped Groww expand its product range but also brought in more users and extended its presence across the market.

    Groww Marketing Campaigns

    We all know the importance of reaching potential investors during peak viewing times, and Groww leverages TV and Over-The-Top (OTT) platforms to achieve this. Placing advertisements strategically on popular streaming services helps Groww draw attention. They use these platforms to deliver their message and encourage users to explore the platform further.

    Here are a few impactful campaigns by Groww:

    Ab INDIA Karega INVEST

     

    This campaign aimed to democratize investments in India and make them easily accessible to every eligible individual, especially in tier 2 and tier 3 cities. With offline events every weekend, it educated investors through a detailed workshop conducted by industry experts.

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    One Step Closer

    This Women’s Day, Get #OneStepCloser with ‪@Groww‬

    Women’s Day Campaign: Rationalising gender inequality and taking into account the general lack of financial literacy in most Indian women, this campaign aimed at educating working women and nudging them towards investing.

    Investment ki Bhasha

    A series of two commercials depicting common folks talking investment terms like share market, Sensex, portfolio, and stocks. Something rare and left for the financial experts to discuss. This campaign nudges the users to learn these terms by downloading the app because “market sab ka hai”.

    Life Mein Groww Karo

    Groww Marketing Campaigns
    Groww Marketing Campaigns

    The “Life Mein Groww Karo” campaign encourages young Indians to take control of their financial future by starting their investment journey. With a simple and relatable message, the campaign connects personal growth with financial progress. Through real-life scenarios and easy language, it positions Groww as a user-friendly and trustworthy platform for beginners, making investing feel less intimidating and more accessible to everyone.

    Nimisha Nair was featured in this ad that struck a chord with a lot of people and quickly went viral. In the ad, she talked about the “Growth-winning” side of using Groww—basically how the app makes investing simple and rewarding. She also shared the ad on her Instagram, saying how grateful she felt to be part of the campaign.

    Conclusion

    Groww has cracked the code for hassle-free investments for millions of Indians. Driving its growth past Zerodha, Groww has contributed to than 700% customer base since March 2021. Its marketing effectiveness can be seen through its educational content, transforming amateur and new investors into evangelists. While there may be room for improvement in app performance and customer support, the marketing strategy of Groww can be seen taking flight.

    Groww’s marketing strategy has been simple and effective: honing pain points, taking actionable steps to resolve them, and providing a safety net for hesitant investors. With a strong digital presence, Groww has gained ground in smaller cities, helping people with much-needed investment guidance. And this continues to be their best bet.

    FAQs

    What does Groww do?

    Groww is an online investment platform that allows users to invest in mutual funds and equities directly. The company is a creator of a mutual fund direct access platform.

    Who are Groww owners?

    Groww was started in 2016 by four former Flipkart employees: Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.

    What is the active investor base of Groww?

    As of January 2025, Groww has an active investor base of 13.23 million users.

  • Juspay: The Power Behind India’s Digital Payment Revolution

    Juspay is a leading Indian fintech infrastructure company that specializes in payment orchestration solutions. Known for its innovative products like Safe, HyperSDK, and Express Checkout, Juspay enables businesses to integrate secure and seamless payment systems across various platforms. With a customer-centric approach, the company has built a strong reputation for processing high volumes of transactions daily, serving over 1,200 major digital businesses. Juspay is also known for its flexibility, allowing clients to tailor payment processes according to their specific needs, making it a preferred partner for many in India’s rapidly growing digital payment ecosystem.

    Learn more about Juspay, its founders, business and revenue model, startup story, growth, revenue, funding, challenges, and more.

    Juspay – Company Highlights

    Name JUSPAY
    Headquarters Bengaluru, India
    Founder Vimal Kumar, Ramanathan RV
    Founded 2012
    Sector software company and fintech
    Website Juspay.io/in

    Juspay – About
    Juspay – Industry
    Juspay – Founders and Team
    Juspay – Startup Story
    Juspay – Mission and Vision
    Juspay – Name, Tagline and Logo
    Juspay – Business Model
    Juspay – Revenue Model
    Juspay – Shareholding
    Juspay – Challenges Faced
    Juspay – Funding and Investors
    Juspay – Mergers and Acquisitions
    Juspay – Financials
    Juspay – Awards and Achievements
    Juspay – Competitors
    Juspay – Future Plans

    Juspay – About

    Juspay is the go-to platform for businesses looking to simplify payments, maximize conversions and cut down fraud. Trusted by top enterprises worldwide, they make transactions smoother, faster and more reliable—so customers enjoy a seamless experience every time. Juspay Technologies is a pioneer in India’s fintech space, providing cutting-edge solutions that streamline digital payments. Their suite of products includes a powerful payments stack, advanced checkout APIs and a widely adopted two-factor authentication (2FA) SDK.

    • Payment Processing: They handle transactions for major brands like Amazon, Ola, Vodafone and Jio.
    • 2FA SDK: Their security framework is one of the most widely used in India.
    • BHIM App: They played a key role in developing BHIM 1.0, which now processes over INR 5 billion monthly.
    • UPI Development: Their team has been instrumental in shaping India’s Unified Payments Interface (UPI).

    How Juspay Makes Payments Smarter

    • Optimized Transaction Routing: Lower costs and increase revenue by directing payments efficiently.
    • Unified Payment Integration: Bring all payment methods under one system for easy management.
    • Seamless API Compatibility: Works smoothly with major payment providers.
    • Smart Infrastructure:
      • Multi-cell architecture ensures zero downtime
      • Fully isolated stacks with autonomous recovery keep operations running
      • Automated failover and real-time monitoring enhance reliability
      • Intelligent auto-scaling adapts to traffic spikes effortlessly

    Juspay – Industry

    India’s FinTech sector is on a meteoric rise. Valued at $584 billion in 2022, it’s expected to skyrocket to $1.5 trillion by 2025. Nowhere is this growth more evident than in digital payments, with transaction volumes projected to hit $100 trillion and generate $50 billion in revenue by 2030.

    But it’s not just payments that are transforming. Digital lending, worth $270 billion in 2022 climbed around $350 billion by 2023. FinTech innovations—like alternative credit scoring and seamless digital loan approvals—are bridging India’s credit gap, making financial services more accessible than ever before.

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    Juspay – Founders and Team

    Vimal Kumar

    Vimal Kumar - Founder and CEO, Juspay
    Vimal Kumar – Founder and CEO, Juspay

    Vimal Kumar is the Founder and CEO of Juspay. Vimal Kumar is a seasoned technology leader with a strong background in software engineering and innovation. He earned his Bachelor of Engineering in Computer Science from the College of Engineering, Guindy, Chennai and achieved notable recognition by securing 5th place in Asia at the ACM International Collegiate Programming Contest (ICPC) 2001 held at IIT Kanpur.

    His professional journey includes serving as the Chief Information Officer (CIO) at BankBazaar.com, where he played a key role in shaping the company’s tech strategy. Before that, he was a Tech Lead at Amazon.com and a Software Development Engineer at Amazon India, contributing to scalable and high-impact technology solutions. He began his career as an Associate at Trilogy, gaining valuable experience in software development. With deep expertise in building cutting-edge financial and e-commerce platforms, Vimal continues to drive innovation in the industry.

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    StartupTalkySakshi Jadhav

    Nishant Sameer

    Nishant Sameer - VP, Product Strategy
    Nishant Sameer – VP, Product Strategy

    Nishant Sameer is the VP, Product Strategy at Juspay. Nishant Sameer is an experienced technology and product leader with a strong background in engineering and innovation. He holds an MS in Electrical Engineering from Stanford University (2002-2004) and a BE in Computer Science from the Indian Institute of Technology, Roorkee (1993-1997).

    Currently, Nishant serves as the Vice President of Product Strategy at Juspay, leading initiatives in Bangalore and San Francisco since January 2021. Previously, he was the Co-Founder and Chief Product Officer at Rizort, focusing on innovative travel solutions. He also held leadership roles as General Manager of Open Innovation at Samsung Electronics and General Manager of Sales & Marketing for Asia & Japan at Ittiam Systems Pvt Ltd. Additionally, he founded Eduflix, a platform aimed at enhancing digital education.

    With a career spanning cutting-edge technology, product strategy and business development, Nishant continues to drive innovation in the fintech and tech industries.

    Sheetal Lalwani

    Sheetal Lalwani - Co-founder and COO
    Sheetal Lalwani – Co-founder and COO

    Sheetal Lalwani is the Co-founder and COO of Juspay. He joined the company in 2014.

    Juspay – Startup Story

    Juspay was founded in 2012 by Vimal Kumar and Ramanathan RV, with a vision to simplify digital payments. Over the years, the company has evolved into a leading player in the fintech space. In January 2023, Ramanathan RV moved on from his role at Juspay to launch Hyperface.co, a startup focused on issuing co-branded credit cards and providing a white-labeled Buy Now, Pay Later (BNPL) stack for businesses.

    Juspay’s journey began with Card Vault, its first product designed to securely store user card details for seamless transactions. With the Reserve Bank of India’s (RBI) card tokenization mandate, which took effect on January 1, 2022, Juspay transitioned its card storage service to a tokenization-based model, reinforcing security while maintaining ease of transactions.

    Juspay – Mission and Vision

    Vision

    Juspay envisions a future where digital payments are seamless, secure and accessible to a billion Indians. By building innovative and scalable solutions, the company aims to remove friction in online transactions, ensuring a smooth and intuitive experience for both businesses and consumers.

    Mission & Core Values

    At the core of Juspay’s mission is a commitment to innovation, efficiency and empowerment. The company believes in maximizing value creation by fostering a culture of innovation, optimizing resources and always doing the right thing. Juspay is dedicated to enabling people to unlock their full potential, cultivating a depth-seeking culture that promotes personal and professional growth. Taking big, courageous moves in the right direction is a fundamental part of its ethos, embracing uncertainty and taking calculated risks to drive transformative change.

    Juspay Logo
    Juspay Logo

    Juspay operates with the tagline “Payments designed for global outcomes,” reflecting its mission to create seamless, scalable and innovative payment solutions that transcend geographical boundaries.

    Juspay – Business Model

    Juspay’s business model is centered around providing technology-as-a-service, enabling merchants to seamlessly integrate payment solutions into their existing systems. By leveraging its proprietary technologies, Juspay offers flexible and highly customizable solutions that allow businesses to tailor payment processes to their unique needs. Beyond just integration, the company provides end-to-end support, including consultancy services to help clients optimize workflows, enhance security and reduce fraud. This client-focused approach fosters long-term partnerships, ensuring that businesses not only adopt Juspay’s solutions but continue to rely on them as they scale.

    Juspay – Revenue Model

    Juspay’s revenue model is primarily driven by transaction-based fees, where the company earns a small percentage from every payment proRacessed through its platform. This structure aligns its success with that of its clients, creating a mutually beneficial growth cycle. Additionally, Juspay generates revenue through custom implementations and consultancy services, offering businesses expert guidance on optimizing their payment infrastructure. This diversified revenue stream ensures sustainability while also fueling ongoing innovation, allowing Juspay to expand its product offerings and maintain its leadership in the digital payments ecosystem.

    Juspay – Shareholding

    Juspay’s shareholding pattern as of November 2024 as sourced from Tracxn:

    Juspay Shareholding as of November 2024
    Juspay Shareholding as of November 2024
    JusPay Shareholders Percentage
    Vimal Kumar 20.3%
    Ramanathan Rv 16.1%
    Sheetal Lalwani 2.1%
    Nishant Sameer < 0.1%
    Accel 12.3%
    SoftBank Vision Fund 10.9%
    VEF 10.2%
    Wellington 5.2%
    Aigi 2.2%
    Avendus 1.7%
    QED Innovation < 0.1%
    Raghupathi Ramakrishnan 2.8%
    Rajesh Balpande < 0.1%
    Parikshit Dar < 0.1%
    Ashish Hemrajani < 0.1%
    Anupama Sharma –
    ESOP Pool 16.0%
    Total 100.0%

    Juspay – Challenges Faced

    Scalability and High Transaction Volumes

    Juspay operates in a fast-paced digital payments ecosystem where handling peak traffic during shopping seasons and major events is crucial. The platform must maintain a robust infrastructure capable of processing millions of transactions per second without disruptions, ensuring seamless payments even during high-demand periods.

    Integration with Multiple Payment Methods

    With India’s diverse payment landscape, Juspay must integrate a wide range of payment options, including UPI, credit and debit cards, net banking, wallets and emerging digital payment solutions. Ensuring smooth compatibility across multiple platforms while delivering a seamless user experience is a continuous challenge.

    Fraud Prevention and Security

    As digital payments grow, so do fraud risks. Juspay must implement advanced fraud detection algorithms to prevent unauthorized transactions while minimizing false positives that could impact genuine customers. Striking a balance between security and frictionless transactions is key to maintaining trust.

    The Indian financial sector is constantly evolving with new regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines. Juspay must stay ahead of these regulatory changes, ensuring compliance across all its payment channels to avoid legal risks and maintain operational efficiency.

    Data Protection and Cybersecurity

    Protecting sensitive customer payment information is a top priority. Juspay must continuously enhance its encryption techniques, secure data storage methods and overall cybersecurity framework to safeguard user data against breaches and cyber threats.

    User Experience Optimization

    A seamless and intuitive checkout experience is critical for increasing conversions. Juspay needs to design frictionless payment interfaces across various devices and platforms, reducing checkout abandonment and enhancing customer satisfaction.

    Network Stability and Connectivity Issues

    Ensuring reliable connectivity with multiple banks and payment gateways across India is a constant challenge. Juspay must optimize its infrastructure to handle network fluctuations, reducing transaction failures and improving overall system reliability.

    Adapting to Local Market Dynamics

    India’s payment ecosystem is highly diverse, with varying consumer preferences and regional regulations. Juspay must continuously adapt its solutions to cater to different market segments, providing localized payment options while ensuring compliance with state and national policies.

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    Juspay – Funding and Investors

    JUSPAY has raised a total of $ 147.42 million across four funding rounds. Below are the details of each round

    Announced Date Transaction Name Money Raised Lead Investors
    April 7, 2025 Series D – JUSPAY $60 million Kedaara Capital
    Dec 15, 2021 Series C – JUSPAY $60 million SoftBank Vision Fund
    Mar 31, 2020 Series B – JUSPAY $21.6 million VEF
    Feb 25, 2016 Venture Round – JUSPAY $5.8 million Accel

    Juspay – Mergers and Acquisitions

    Juspay has acquired LotusPay in Feb 2024 in an all-cash deal.

    Juspay – Financials

    Fiscal Year Operating Revenue Total Expenses Profit/Loss
    FY22 INR 112.7 crore INR 223 crore INR -101.5 crore
    FY23 INR 213.39 crore INR 342.59 crore INR -105.75 crore
    FY24 INR 319.32 crore INR 443.74 crore INR -97.54 crore
    Juspay Financials 2024
    Juspay Financials 2024

    Juspay’s operating revenue saw a steady rise from INR 112.7 crore in FY22 to INR 319.32 crore in FY24, marking a 49.6% YoY growth in FY24. Despite increasing expenses, the company managed to reduce its net loss from INR 105.75 crore in FY23 to INR 97.54 crore in FY24.

    Juspay – Awards and Achievements

    Juspay won the “Best B2C Payment Experience Award” at the APAC Payments Excellence Awards, recognizing its innovative and seamless payment solutions for consumers across the Asia-Pacific region.

    Juspay – Competitors

    Juspay operates in a highly competitive fintech landscape, facing competition from established payment gateways and digital transaction platforms each offering unique solutions in the digital payments ecosystem, such as:

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    Juspay – Future Plans

    With the fresh funding from Kedaara Capital, Juspay plans to deepen its investments in artificial intelligence to enhance workforce productivity and improve the merchant experience, the company said in a press release.

    The funding comes at a time when several payments platforms — including Paytm, PhonePe, Cashfree, and Razorpay — have ended their partnerships with Juspay as a third-party orchestration provider.

    Launched in 2012, Juspay provides full-stack orchestration, checkout experience, 3DS authentication, tokenisation, unified analytics, and value-added services for enterprise merchants, as well as end-to-end payments acceptance and real-time payments infrastructure for leading banks

    The company claims to process more than 200 million transactions daily at 99.999% reliability, with over $900 billion in annual total processed volume.

    Besides India, Juspay has extened its services to Asia-Pacific, Latin America, Europe, the UK, and North America.

    FAQs

    What is Juspay?

    Juspay is a leading payments technology company that provides solutions to simplify digital payments for businesses and consumers.

    Who are Juspay founders?

    Juspay was founded in 2012 by Vimal Kumar and Ramanathan RV.

    Who are Juspay competitors?

    Main competitors of Juspay include Paypal, CCAvenue, Razorpay, Instantmojo, and more.

    What is Juspay business model?

    Business Model of Juspay revolves around providing payment solutions for businesses through payment gateways, one-click checkout, and fraud prevention tools. It earns revenue by charging transaction fees and offering customized payment products to e-commerce platforms, fintech companies, and other digital businesses.

  • By the Middle of February, Pine Labs will Submit its IPO Draft Documents

    According to reports, Pine Labs, a prominent fintech company, is preparing to submit its IPO draft papers by the middle of next month. A media site reported that the company aims to list on the bourses as soon as possible after finishing all the procedures required to move its base to India. The National Company Law Tribunal (NCLT) granted the corporation the first set of permissions in August of last year to combine its Indian subsidiary with its Singaporean entity. Five investment banks were reportedly chosen by the Delhi-NCR-based firm in November to serve as advisors for its $1 billion (about INR 8,424.7 crore) IPO. The company is reportedly looking for a $6 billion valuation. Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies were among these banks.

    A slew of venture capital, private equity, and international funds, including Temasek, MasterCard, Paypal Ventures, Alpha Wave Global, and Peak XV, backed Pine Labs. About 20% of the business may be sold by current investors. The offer might also be used by Pine Labs to raise some primary capital. Since 2009, Pine Labs has raised over $1.32 billion in 14 rounds, according to Tracxn.

    Pine Labs May Opt for Pre-IPO Funding Round

    The company may choose to pursue a pre-IPO funding round prior to its IPO, which could result in a change in valuations and size, as no definitive decision has been made. It’s interesting to note that this is the business’s second attempt to list on a stock exchange. It submitted IPO paperwork for a $500 million public offering to the US Securities and Exchange Commission back in 2022. However, because of the poor market attitude, it postponed the preparations for the IPO. Pine Labs was established in 1998 by Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay. The company provides retailers with digital payment solutions, including point-of-sale (PoS) devices and payment systems. Additionally, it provides businesses with cashback, rewards, and pay-later options.

    Indian Startups and their IPO Dream

    Pine Labs’ valuation was reduced by 8.5% from $3.8 billion in January 2024 to $3.5 billion at the end of April 2024 by US-based fund manager Invesco, who also owns stock in the company. Approximately 18 firms, including Flipkart, PhysicsWallah, Ather Energy, and Zepto, are preparing to list on Indian stock exchanges, according to a number of media reports. With plans to list in the upcoming fiscal year, the board of logistics giant Shiprocket passed a resolution on January 27 to turn the business from a private to a public corporation. At a valuation of roughly $2.8 billion, IPO-bound Infra. Market raised INR 1,050 Cr in its pre-IPO round last week. Even Capillary Technologies has resumed its IPO preparations, and by June of this year, it is anticipated to submit the draft documents for a $200 million (INR 1,700 cr) IPO.

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  • The CCAvenue Soundbox Max Is Now Available to Retailers Through Infibeam Avenues

    The CCAvenue SoundBox Max, developed by fintech firm Infibeam Avenues, is an innovative and reasonably priced point-of-sale (POS) system that can accommodate the various payment acceptance requirements of Indian retailers.

    Providing a comprehensive solution that surpasses previous ways, the new device is poised to revolutionize the way merchants and retailers process payments, according to the business.

    Launch details were revealed at Mumbai’s Global Fintech Fest (GFF) 2024.

    Meeting Customer Demands With the Ability to Accept Multiple Payments

    The CCAvenue SoundBox Max is not merely an additional payment device; rather, it is a solution to the particular demands that the market has brought out.

    According to Infibeam, merchants and retailers have made it clear for a long time that they require a device that is capable of supporting more than simply UPI payments.

    As a result of the introduction of debit and credit card payment options into the CCAvenue SoundBox Max, this gap has been addressed. This has enabled businesses to take a larger variety of payment methods, such as UPI QR codes, debit cards, and credit cards.

    According to Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd., CCAvenue SoundBox Max is intended to revolutionize the payment landscape for retailers and merchants by providing them with the ability to collect payments from a variety of sources, including UPI, debit cards, and credit cards.

    Crucial Elements That Improve Retail Processes

    The CCAvenue SoundBox Max comes equipped with several features that make transactions more straightforward and safe. In addition to contactless (NFC) payments, it is also compatible with chip-based credit and debit card transactions, as well as static and dynamic QR payments.

    Furthermore, the gadget comes equipped with a built-in SoundBox that provides audible confirmation of successful transactions in several different languages, making it suited for use in a variety of retail settings.

    Additionally, the design of the gadget incorporates a sizable display that is positioned in front of the user and displays order quantities as well as the status of transactions. The display on the back of the device and the keypad work together to make it simple to navigate and enter transaction details as well as card PINs. It also includes a battery life that lasts for a long time and swift C-type charging.

    Improving Abilities

    Additional value-added features, such as Card EMI and Brand EMI choices, are going to be added to the CCAvenue SoundBox Max by Infibeam Avenues. These features will be designed to cater to a wide variety of retail sectors, such as supermarkets, quick-service restaurants, salons, fashion boutiques, and more.

    According to what was stated, the gadget complies with numerous standards, including EMV L1, L2, PCI PTS, CE, FCC, and RoHS.

    The company has engaged in agreements with several important players, such as Karnataka Bank, ICICI Bank, ShopSe, Citibank India, PayMyTV, Cars24, Muthoot FinCorp ONE, Loyalty Rewardz, Society on Click, Chalo App, and BHIM, to provide innovative solutions that bring about further improvements to the payment ecosystem.

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  • BASIC Home Loan Success Story: Revolutionizing Home Loans in India

    Getting a home loan is a big step toward owning a home, providing financial assistance to make your dream a reality. The Indian home loan market, valued at approximately USD 300 billion, is expected to achieve a CAGR of 22.5% during the forecast period from 2024 to 2029.

    However, securing a home loan is not a simple process. While inherently complex, home loans have now embraced automation significantly. In this industry, a company making strides is BASIC Home Loan. The company stands out as India’s pioneering automated platform for secured lending, with a specific focus on the affordable housing segment.

    In this article, learn more about the BASIC Home Loan, how it started, its founders, business model, products, and services, among other details.

    BASIC Home Loan – Company Highlights

    STARTUP NAME BASIC Home Loan
    Headquarters Gurgaon, Haryana, India
    Sector Fintech Company
    Founder Atul Monga and Kalyan Josyula
    Founded 2020
    Website basichomeloan.com

    BASIC Home Loan – About
    BASIC Home Loan – Industry
    BASIC Home Loan – Founders and Team
    BASIC Home Loan – Startup Story
    BASIC Home Loan – Vision and Mission
    BASIC Home Loan – Name and Logo
    BASIC Home Loan – Product/Services
    BASIC Home Loan – Business and Revenue Model
    BASIC Home Loan – Challenges Faced
    BASIC Home Loan – Marketing Strategy
    BASIC Home Loan – Recognition and Achievements
    BASIC Home Loan – Key Tools and Software
    BASIC Home Loan – Competitors
    BASIC Home Loan – Future Plans

    BASIC Home Loan – About

    The adoption of new technologies has changed everything in how they live their lives. From ordering food to booking a cab to banking, there always seems to be an app for that. However, from a borrower’s perspective, the home loan process remains the most time-consuming and tedious job, requiring them to be physically present at a bank branch.

    At BASIC, they want to empower consumers with technology, simplify the process of home buying, and bring financial stability to the lives of families in India. They are here to digitize and automate the home loan origination, documentation, customer verification, and disbursement process from the comfort of their homes.

    Founded in 2020, BASIC Home Loan is a fintech company, developing an automated platform for home lending in India. They at BASIC, are building India’s first Neo-Housing Finance Company (Neo-HFC) to increase the penetration of affordable home loans. Banks operate through a branch-led model with fixed costs, so they prefer big-ticket loans to justify unit economics. On the other hand, HFCs lack technology & product innovation and have opaque and tedious offline processes. BASIC utilizes technology & product innovation to convert fixed branch costs to variable costs along with providing a convenient customer experience.

    While mortgages in India face challenges due to the absence of a centralized property database and offline requirements mandated by the Reserve Bank of India (RBI), BASIC Home Loan has devised an effective solution. Using their Phygital approach, loan sanctioning occurs through a digital and paperless journey. At the time, offline fulfillment is facilitated by an asset-lite agent network comprising professionals such as Chartered Accountants (CAs) and property dealers.

    Since their inception, they have successfully collaborated with 70 lenders and disbursed INR 7000 crores of loans. They prioritize sustainable growth and have achieved profitability in its core business since March 2021. Their commitment to delivering a seamless and stress-free experience for mid and low-income households drives them to continuously innovate and improve.

    BASIC Home Loan – Industry

    The Indian housing finance industry is on a trajectory of significant growth, driven by increasing demand for housing, supportive government policies, and technological advancements in the fintech sector. Based on this dynamic environment, BASIC Home Loan is strategically positioned to capitalize on these trends.

    Industry and Target Market Size:
    The industry’s target market size can be estimated based on the Reserve Bank of India’s data and research reports from brokers and industry analysts. With the total value of housing in India estimated at nearly Rs 150 lakh crore and the increasing trend of residential housing loans as a share of total loans, the demand for new home loans is substantial.

    1. Target Market Size for New Home Loans: Approximately USD 175 billion, including the secondary market.
    2. Affordable Housing Segment: This represents about 50% of this target market, indicating a significant portion of demand stems from the affordable housing sector.

    These figures were derived from authoritative sources like the RBI, along with broker and industry reports, providing a reliable basis for understanding the market’s scale and potential growth areas.

    Market Share:
    Calculating their current market share involves comparing their loan disbursements against the overall market size for home loans in India. With the focus on digitizing the home loan process and targeting the affordable housing segment, its ability to capture a larger market share will hinge on scaling its operations, broadening its lender network, and enhancing its technological offerings.

    Industry Outlook in the Next Five Years:
    Growth to USD 300 Billion:     The industry is expected to grow to approximately USD 300 billion in new home loans by FY 2028, driven by population growth, urbanization, rising income levels, and government initiatives promoting affordable housing.

    Technological Advancements: Fintech innovations will continue to reshape the housing finance landscape, making processes more efficient and accessible.

    Increased Digitization: The trend towards digitization will accelerate, with more consumers expecting seamless online loan applications, approvals, and disbursement processes.

    BASIC Home Loan’s Outlook:
    In the Next 5 Years:     They aim to significantly increase their market share within the growing industry, especially in the affordable housing segment. The company plans to expand their services to more cities, enhance their technological platform, and deepen their integration with lenders to offer a wider range of products.

    In the Next 10 Years: Looking further ahead, they envision becoming a leading player in the Indian housing finance market, synonymous with accessible, efficient, and innovative home loan solutions. The company anticipates expanding its product offerings beyond home loans to include related financial services and becoming a comprehensive platform for all housing finance needs.

    BASIC Home Loan – Founders and Team

    Atul Monga Founder & CEO (Right) and Kalyan Josyula Founder & COO (Left) - Founders of BASIC Home Loan
    Atul Monga Founder & CEO (Right) and Kalyan Josyula Founder & COO (Left) – Founders of BASIC Home Loan

    Atul Monga, Founder & CEO of BASIC Home Loan

    Atul Monga is the Co-founder and CEO of BASIC Home Loans – a startup working on digitizing home loans and increasing affordable loan penetration for middle and low-income households. Atul found that the affordable housing market has vast potential in his career, yet ecosystem players ignore it. Through BASIC, he wants to ensure hassle-free loans with its automated platform. Before starting his venture, Atul worked in the Indian fintech industry, where he set up and led businesses for various digital lenders. He is an ex- PolicyBazaar and Credit Suisse. He has been an Intrapreneur at Three FinTech and a Mechanical Engineer from IIT Delhi.

    He was also an investment banker and helped raise capital for Rubique Technologies – a fintech marketplace, Dogspot- India’s biggest online platform for Dogs, Cats, and small pets, and Disha Solar- a solar power installation services provider. Atul’s journey spans from being an Investment Banker and Angel Investor to becoming a technopreneur and a fintech specialist. He has held many leadership roles and helped companies in strategic alliances and partnerships, managed their operations, and executed several financial transactions for global companies, which included IPO, M&A, and other equity & debt products.

    Kalyan Josyula, Co-Founder & COO of BASIC Home Loan

    Kalyan Josyula is the Co-Founder & COO of BASIC Home Loan a platform for automating home loans for middle & low-income households in India. Kalyan is an ex-investment banker and consumer internet business specialist, who has 15+ years of cross-functional (Corporate Finance, Strategy, and Operations) experience in building organizations across e-commerce marketplaces & ride-hailing start-ups in India, SEA & Middle East. Kalyan has played a variety of roles across industries and has worked with large companies such as OLA Cabs, Lazada Group, and Credit Suisse. He has a strong analytical mindset and finance domain expertise, including deep know-how of IT solutions and financial modeling skills. He enjoys planning & executing operational strategy, particularly turning KRAs into actionable targets with budgets and measurable KPIs.

    BASIC Home Loan – Startup Story

    It all started with the pandemic and the migration of the working population from tier-1 cities to tier-2 and beyond. There were not enough houses for them to set up a living and they opted for renting as a solution. This is what his team and Atul saw as the starting point of BASIC Home Loan’s journey.

    Nearly 17 percent of the world’s homeless population lives in India. As many as 78 million Indians live in slums. Home loan is considered inaccessible and unaffordable in tier-2 and -3 cities, as banks do not have many branches. While most fintech firms are focused on instant personal loan disbursement, BASIC Home Loan wanted to disrupt the housing loan category.

    In a concise span of a little over 1,000-day journey, the company has helped 80,000+ citizens from nondescript backgrounds to have a house of their own. Researching and validating the idea involved a multi-faceted approach. Initially, they conducted an extensive market analysis to understand the current landscape of the housing finance sector, the challenges faced by consumers, and the operational models of existing banks and HFCs (Housing Finance Companies).

    This research highlighted the pressing need for innovation in the sector and the potential impact of a digital solution. To further validate the idea, Atul engaged with potential customers through surveys and interviews to gather insights into their experiences, pain points, and expectations from the home loan process. The
    feedback overwhelmingly pointed towards the need for a simplified, faster, and transparent process.

    Designing and prototyping the initial concept of BASIC Home Loan involved leveraging technology to create a user-friendly platform that could automate and streamline the home loan origination, documentation, and disbursement processes. The goal was to develop a ‘Phygital’ model that combines the efficiency of digital processes with the assurance of physical interactions through an agent network. This approach was designed to cater to the diverse needs of their target audience, including those not fully comfortable with digital transactions.

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    BASIC Home Loan – Vision and Mission

    The lending ecosystem in India has been in the process of digitizing for some time. A lot of innovation has happened in the personal and business loans space. But when it comes to home loans, the process is still very traditional and the digital penetration has not increased much.

    As a percentage of GDP, mortgages are still around 11 percent. The overall mortgage industry remains an offline industry primarily because India doesn’t have a centralized database of property ownership.

    Long-Term Vision: Long-term vision is focused on fundamentally changing how home financing is approached in India, particularly for affordable homes. The company aims to revolutionize the mortgage brokerage industry by becoming the largest online platform for this purpose in India. This vision extends to enhancing the home loan experience for middle and low-income households across the country, particularly in tier 2 and 3 cities.

    Short-Term Vision: The short-term goals include making strides in areas such as loan origination, documentation, customer verification, and disbursement, making these processes faster and stress-free. The immediate goal is to provide end-to-end fulfillment through technology for quicker loan disbursements, thus
    reducing the time and effort traditionally associated with acquiring home loans.

    Core Belief: The core belief behind BASIC Home Loan is rooted in the power of technology to simplify and enhance financial processes. The company believes in empowering consumers through digital solutions, making financial services like home loans more accessible, efficient, and user-friendly. This belief in technological innovation as a tool for financial inclusion and empowerment forms the foundation of the company’s operations and goals.

    Motto: “To make home loans faster, stress-free & Basic for mid-&-low-income households,”.

    Basic Home Loan LogoBASIC Home Loan Logo
    BASIC Home Loan Logo

    The name “BASIC” was selected because it directly speaks to the foundational needs of individuals and families – that of securing a home. Housing, being one of the basic needs alongside food and clothing, represents a universal aspiration towards stability and security. The term “basic” also suggests simplicity and ease, reflecting the company’s mission to simplify the home loan process, making it accessible and straightforward for everyone.

    This choice of name aligns perfectly with the company’s aim to address and fulfill a fundamental human need in the most uncomplicated manner possible.

    Tagline: Ghar Ka ab Loan Basic Hai
    The tagline reinforces the idea that securing a loan for a home should not be a complex or daunting task. It emphasizes the company’s commitment to making home loans accessible, affordable, and straightforward for its customers. The tagline is catchy, easy to remember, and speaks directly to the target audience, assuring them that with BASIC Home Loan, the path to homeownership is clear and uncomplicated.

    Logo:
    The logo, with its blue door, effectively conveys BASIC Home Loan’s brand ethos and service philosophy. It’s a visual promise of opening doors to homeownership, making the dream accessible and achievable for many. The imagery of the door, coupled with the company’s name and tagline, creates a cohesive and compelling brand identity that speaks directly to the aspirations of its target audience.

    BASIC Home Loan – Product/Services

    The goal of the company is to become the first neo-housing finance firm in India. Accordingly, BASIC has adopted a ‘phygital’ approach to disbursing home loans — customers and onboarded and verified online and an on-ground agent assists the customer in completing the application process, and helps the lender in evaluating the mortgage.

    Here is an overview of their offerings:

    1. Digitized credit policies with an industry-leading success rate of >75 percent
    2. Customer verification/ Risk control (Digi Locker-verified customer screening and onboarding reduce fraud risk)
    3. Disbursement support: From origination to registry – Agents do all
    4. Customer convenience: Single point of contact for the customer, and they provide step-by-step tracking; The customer requires no branch visit
    5. Ease of documentation

    Problems Solved:

    1. Complexity and Inaccessibility: Simplifies the complex and time-consuming home loan application process, making it accessible and manageable for customers, especially those in underserved areas.
    2. Lack of Transparency and Choice: Provides transparency in loan products and offers customers a choice among various lenders, ensuring they get the best deal according to their eligibility.
    3. Digital Divide: Addresses the digital divide by offering a phygital approach that combines online efficiency with offline, personalized support.

    USP and Innovation:

    1. Phygital Model: A hybrid model that combines digital innovation with physical agent networks to offer doorstep service, ensuring the inclusivity of digital and non-digital customers.
    2. Product Eligibility Matrix (PEM): An innovative matchmaking engine that uses algorithms to recommend the most suitable loan products based on the customer’s financial and property profile.
    3. Automated and Paperless Process: Streamlines the loan application, documentation, and verification process, making it faster, more efficient, and environmentally friendly.

    BASIC Home Loan – Business and Revenue Model

    They operate on a fintech business model that revolutionizes the traditional home loan process by digitizing and simplifying the way customers apply for and receive home loans.

    Business Model:

    Digital Marketplace: They function as a digital marketplace that connects customers looking for home loans with various banks and financial institutions. This platform allows customers to compare loan offers, apply online, and receive approvals, all in one place.

    Phygital Approach: Combining digital processes with physical verification and assistance, BASIC Home Loan ensures that customers, even those in remote or underserved areas, can access their services. This hybrid model caters to the diverse needs of the Indian market, making home loans accessible to a broader audience.

    Partner Network: They have established partnerships with over 75 lenders, including banks and housing finance companies (HFCs), allowing them to offer a wide range of loan products. This extensive network ensures that customers can find loan options that best suit their financial needs.

    Revenue Model:
    Commission-Based:     Their primary revenue stream comes from commissions paid by partner banks and financial institutions for each loan disbursed through the platform. This commission is a percentage of the loan amount disbursed to the customer.

    Commission Structure: The commission rate paid by the banks to them can go up to 2.25% of the loan amount. This rate may vary depending on the lender, the type of loan product, and other factors.

    Free for Customers: The service is offered free of charge to customers, aligning with their mission to make the home loan process more accessible and customer-friendly. By not charging customers, the company ensures that its services are accessible to a wider audience, particularly targeting mid and low-income households.

    Profit Margin: BASIC Home Loan operates with a Contribution Margin 1 (CM1) of 35%. This margin reflects the company’s efficiency in generating revenue from its operations after variable costs associated with loan processing and disbursement are accounted for.

    BASIC Home Loan – Challenges Faced

    The most challenging part for BASIC Home Loan, like many fintech startups aiming to disrupt traditional sectors, was likely overcoming the regulatory complexities and consumer trust issues associated with digitizing the home loan process. The home loan sector, deeply rooted in traditional, offline processes,
    requires significant paperwork, and face-to-face interactions, and is heavily regulated. Changing this entrenched system to a digital-first approach posed substantial challenges.

    Overcoming Regulatory Complexities:

    Regulatory complexities present a significant hurdle, especially when attempting to digitize and streamline processes that have long been conducted offline due to legal and compliance requirements.

    1. Engaging with Regulators: Proactively working with regulatory bodies to understand compliance requirements and how digital solutions could meet these standards without compromising the integrity or security of the loan process.
    2. Building a Compliant Platform: Developing a platform that not only adheres to regulatory standards but also incorporates robust security measures to protect sensitive customer data. This involved investing in advanced encryption technologies and secure data storage solutions.
    3. Continuous Monitoring and Adaptation: Keeping abreast of changing regulations and being agile enough to adapt the platform and processes accordingly. This required a dedicated legal and compliance team to ensure ongoing adherence to regulatory changes.

    Building Consumer Trust: Gaining the trust of consumers used to traditional, in-person banking relationships was another significant challenge. BASIC Home Loan addressed this issue by:

    1. Educating Consumers: Launching educational campaigns to inform potential customers about the benefits of digital home loan processing, including the efficiency, convenience, and security of the platform.
    2. Transparent Processes: Ensuring that every step of the loan application, from submission to approval and disbursement, was transparent. Implementing real-time tracking tools allowed customers to view the status of their applications at any time, building trust through openness.
    3. Providing Personalized Support: Despite the digital nature of the service, BASIC Home Loan recognized the importance of human interaction. By offering personalized support through dedicated relationship managers and an agent network, the company was able to provide the reassurance and guidance that many customers desired.

    In summary, BASIC Home Loan overcame its most significant challenges through proactive engagement with regulators, investment in technology that meets legal and security standards, educational initiatives to build consumer trust, and the innovative use of technology to streamline and secure the home loan process. Through these efforts, the company has managed to not only navigate these challenges but also set a new standard for the home loan industry.

    BASIC Home Loan – Marketing Strategy

    One of their finest campaigns remains ‘Ab Ghar Ka Loan BASIC Hain’. The campaign resonated well with both the customers and their on-ground agents (christened as advisors). Besides, it also won numerous awards and accolades.

    The campaign was executed strategically. An advisor (agent) was onboarded by just asking to fill out a simple form, and the same was projected through various advisor video testimonials with glimpses of the BASIC Home Loan Advisor App on YouTube and Facebook. #AgentNahiAdvisor: Being a home loan agent is not considered a reputed job because of the negative perception around the word ‘agent’. The campaign was designed to bring honor and respect to the profession. Additionally, various surveys were conducted to show user behavior, results of which were floated on social media organically to create interest among advisors as well as consumers alike. Nearly 60+ direct builder partnerships with tech integrations were initiated, all through organic touch points, with the core messaging leading the light, and 12,000+ ecosystem touch points were created through CAs, architects, property dealers, insurance agents, financial consultants, etc.

    The next best campaign was centered around the launch of the BASIC Home Loan Agent App, designed to empower agents across India by leveraging technology to connect customers with a diverse range of banking products. The campaign aimed to attract potential agents by emphasizing the ease of earning, the transformative power of technology, and the reliability of the platform. Hosted on YouTube, the strategy included engaging content that showcased success stories and testimonials from existing agents, effectively highlighting the financial freedom and opportunities the app offers. The key messaging, “With BASIC Home Loan, success is guaranteed (Tarakki Pakki),” resonated with the target audience, emphasizing the potential for agents to build a lucrative career with the support of BASIC Home Loan’s innovative technology.

    The outcome of the campaign was remarkable, leading to a substantial increase in the number of active agents on the platform, which in turn boosted sales and expanded BASIC Home Loan’s reach to more customers. This strategy not only enhanced the brand’s visibility but also reinforced its position as a leader in the tech-driven transformation of the home loan industry. The success of this campaign has laid the groundwork for future marketing strategies, establishing a model for leveraging digital platforms and narrative-driven content to attract talent and grow the business. Moving forward, BASIC Home Loan aims to scontinue innovating and scaling its operations, further democratizing access to home loans in India through technology and empowerment.

    BASIC Home Loan – Recognition and Achievements

    The company’s ‘phygital’ approach and marketing communications have been admired by the industry. It won the industry’s most prestigious awards namely :

    1. Winner of Agency Reporter Stakes Award 2023 & 2022, Category: BFSI
    2. Winner of Agency Reporter Stakes Award 2023 & 2022, Category: Integrated Marketing Campaign
    3. Winner of Afaqs Startup Brands Award 2023, Category: Outstanding Use of PR
    4. Winner of FiNext Award 2023, Category: Excellence in Finance – Lending
    5. State Bank of India-Dun & Bradstreet Startup50 Trailblazer 2023
    6. Entrepreneur India, STARTUP AWARDS 2023, Category: Best Social Impact Startup
    7. Winner of AdGully IMAGEXX Award 2023, Category: BFSI
    8. Winner of AdGully IMAGEXX Award 2023, Category: Brand Development (Service)
    9. Winner of AdGully DIGIXX Award 2023, Category: PR/ORM
    10. Winner of ET BrandEquity Brand Bharat Award North 2022, Category: BFSI
    11. Winner of Campaign India PR Awards 2022, Category: Brand Development (Service)
    12. Mint-TechCircle Business Transformation Awards 2021, Category: Social Impact (Good Business)
    13. IDC India Industry Innovation Awards (IDCIIA) 2021, Category: BFSI (Innovation in Operations)
    14. InkSpell Media Drivers of Digital Awards 2021, Category: Best Social Impact Startup
    15. InkSpell Media Drivers of Digital Awards 2021, Category: Best Financial Startup
    16. SKOCH AWARD 2023 – Innovation in Home Loan
    BASIC Home Loan Team Members
    BASIC Home Loan Team Members

    BASIC Home Loan – Key Tools and Software

    Some of the tools that BASIC Home Loan uses are:

    • AWS
    • ZOHO

    BASIC Home Loan – Competitors

    BASIC Home Loan competitors include:

    • Andro Meda
    • My Money Mantra

    BASIC Home Loan – Future Plans

    Their future plans for the next 1-2 years include significant expansion and diversification efforts aimed at enhancing their offerings and reaching a broader audience. Here are some key initiatives they are focusing on:

    City Expansion: They plan to scale their operations from the current 30 cities to 100 cities within the next 1-2 years. This expansion will allow it to reach more customers and provide its services to a wider geographical area.

    Home Setup Services: In addition to its core home loan services, they are diversifying into complementary offerings such as furniture, modular solutions, décor, and interior services. By offering these services, they aim to enhance the overall home-buying experience for their customers and provide them with end-to-end solutions for setting up their homes.

    Lending Arm Establishment: They are in the process of establishing a lending arm to complement their existing services. This will involve introducing innovative products tailored to underserved segments of the market and leveraging technology to streamline the lending process and make credit more accessible to a wider range of customers.

    Digitization of Credit: As part of their efforts to modernize and innovate, they are working towards digitizing the credit process. This includes leveraging technology such as AI and machine learning to assess creditworthiness, streamline application processes, and offer personalized loan solutions to their customers.

    Overall, its goal is to continue growing and evolving as a company, expanding its reach, diversifying their offerings, and leveraging technology to better serve their customers and meet their evolving needs in the home finance and lending space.

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    FAQs

    What is BASIC Home Loan?

    BASIC Home Loan is a fintech startup founded in 2020, aiming to digitize and automate the home loan origination, documentation, and disbursement process in India.

    Who are the founders of BASIC Home Loan?

    BASIC Home Loan was founded by Atul Monga and Kalyan Josyula.

    Who are the competitors of BASIC Home Loan?

    Some of the competitors of BASIC Home Loan include Andro Meda and My Money Mantra.

    What is BASIC Home Loan’s revenue model?

    BASIC Home Loan operates on a commission-based revenue model, earning commissions from partner banks and financial institutions for each loan disbursed through their platform.

  • Blance: Building India’s First Goal-Centric Recurring Deposit Marketplace App

    In the ever-growing fintech industry, marked by rapid digital transformation, Blance emerges as a dynamic player. With the Indian fintech market projected to reach $2.1 trillion by 2030, Blance strategically positions itself to capitalize on this growth.

    The company offers goal-centric recurring deposit solutions in India, ensuring 5x better maturity outcomes and providing users with exclusive benefits upon maturity.

    In this article, explore more about the journey of Blance, its founders, revenue model, product/service, and more.

    Blance – Company Highlights

    Company Name Blance
    Headquarters Bengaluru, Karnataka, India
    Sector Fintech
    Founder Ashutosh Prakash Singh, Neeraj Gupta, Pankaj Gupta
    Founded 2023
    Website blance.in

    Blance – About
    Blance – Industry
    Blance – Founders
    Blance – Startup Story
    Blance – Vision and Mission
    Blance – Products/Services
    Blance – Business and Revenue Model
    Blance – Challenges
    Blance – Key Tools and Software
    Blance – Awards and Achievements
    Blance – Competitors
    Blance – Future Plans

    Blance – About

    Founded in January 2023, Blance is India’s one and only goal-centric recurring deposit marketplace. With the unique solution of combining traditional RDs with the goal-based needs of retail investors, RDs on Blance provide 5x better maturity outcomes than a regular RD. Blance users can save systematically towards a goal in the form of an RD, and unlock brand discounts, credit cards, loans, and insurance options on maturity.

    Although the app is currently in the Beta version, it is fully operational. Blance is gearing up for a complete launch in the coming months with a mission to revolutionize the landscape of recurring retail investments in India.

    Blance – Industry

    In the Fintech industry, Blance targets a market size of over 90 million households earning more than INR 5 lakh yearly and spending USD 50 billion. They aim to capture a 10% market share in three years, particularly in financing high-ticket-size purchases with goal-based Recurring Deposits & other offerings.

    Regarding the industry’s future, Blance aims to forge partnerships with NBFCs, Banks, and other deposit-taking entities. Additionally, they are committed to assisting new-to-credit users in initiating their credit journey through secured credit cards and loans This will empower users to build their credit scores, subsequently opening doors to further credit opportunities.

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    Blance – Founders

    Co-Founders, Blance - Pankaj Gupta, Ashutosh Prakash Singh, Neeraj Gupta (left to right)
    Blance Co-Founders – Pankaj Gupta, Ashutosh Prakash Singh, Neeraj Gupta (left to right)

    Ashutosh, Neeraj, and Pankaj, co-founders of Blance, are childhood friends who hail from Lucknow, Uttar Pradesh, India, and have studied in the same school.

    Ashutosh Prakash Singh

    Ashutosh Prakash Singh, Co-founder and CEO, of Blance, pursued a B.Tech degree at AKTU. With over 7 years of experience in Product and growth, he is a 2-time Founder, having contributed to the success of ventures like 6Sense and Slintel.

    Neeraj Gupta

    Neeraj Gupta, Co-founder and COO of Blance, holds both B.Tech and M.Tech degrees from IITKGP. With a career spanning 6+ years in Fintech, he is a seasoned professional and a 1-time Founder, having played integral roles in Money View, GAIN Credit, and Zype.

    Pankaj Gupta

    Pankaj Gupta, Co-founder and CTO of Blance is an alumnus of IITK, holding both B.Tech and M.Tech degrees. With over 6 years of experience in Tech and data, he is a 1-time Founder who has made significant contributions to companies like Adobe, ShareChat, Udaan, and Lohum.

    Blance – Startup Story

    Back in 2020-21, when the coronavirus pandemic hit, Ashutosh, Neeraj, and Pankaj were brainstorming ways to create something new and amazing that could help people feel connected during this difficult time. Ashutosh came up with the idea of building a dating site, and soon that idea evolved into a small project, eventually becoming a startup. This was the first idea that the co-founders of Blance worked on together. However, they later pivoted to building a community ed-tech startup, which unfortunately did not take off.

    But their journey didn’t end there!

    While Ashutosh, Neeraj, and Pankaj were building their first startup, Hunkaar, they realized that in order to accept payments from tier 2, 3, and beyond cities, they needed to provide a savings solution. This is where the idea of Blance came into play.

    Fast forward to 2022, they began working on savings plans and schemes, which led them to develop the concept of “Save Now, Buy Later.” Throughout this journey, they faced multiple attempts and failures, but they never gave up on their determination to build something that people truly wanted.

    After researching the “Save Now Buy Later” idea for about 5-6 months and conducting proof of concepts, they started building Blance, and that’s when it became a force to be reckoned with.

    Blance – Vision and Mission

    Blance’s mission is all about striking the perfect balance in the financial journey, ensuring users save, take credit responsibly, and enjoy exciting rewards along the way.

    Blance’s vision is to become a full-stack solution for consumers in India to manage their finances and achieve their dreams.

    Blance – Products/Services

    Blance is recognized as India’s one & only goal-based saving & credit fintech startup. Based in Bengaluru, Blance has launched a beta program to help Indians, especially young adults, to improve their financial wellness. Blance offers discounts for planning purchases in advance, which can help consumers to save money and reach their financial goals. To avail of these discounts, the user has to download the Blance app from the Google Play Store.

    Blance is building to help people save for their future purchases & get up to 25% off. Blance also helps its users fast-track their goals through a credit offering. The best part is there are no commitments, users can switch brands & earn 10% fixed interest even if they cancel their goal anytime.

    Blance does this by clubbing credits, rewards, and discounts along with saving with various partner brands. Blance helps users save, generate returns on their savings, partners with brands to get extra discounts so users don’t have to haggle with brands, & finally, if users want to fast-track their goal or have missed their goal, Blance helps them complete their goal by taking credit for it.

    Blance has partnered with RBI Regulated NBFCs and banks & has also been recognized by Startup India. For Blance, the users’ data & privacy are the supreme priority, and that is why Blance takes strict measures to make it 100% safe & secure.

    Over 93% of the Indian population lacks access to credit. As a result, many rely on their hard-earned savings or informal credit to make high-value purchases. Through conversations with people across India, Blance has found that while many save diligently for their goals, they often turn to credit when they encounter budgeting challenges or haven’t reached their savings targets.

    When it comes to significant purchases like bikes, cars, etc, individuals save for down payments and book vehicles at retail stores, again facing challenges such as bank account not beating inflation, securing a favorable car loan, and negotiating discounts. Achieving financial well-being requires a balance between savings, credit, and rewards. However, today we don’t get rewards for high-ticket purchases made through savings.

    At Blance, the mission is to help users find the perfect balance between savings, credit, and rewards. Blance empowers its customers to achieve financial independence and personal growth. When savings are combined with credit and rewarded appropriately, they become a catalyst for financial success.

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    Blance – Business and Revenue Model

    Blance drives revenue in three ways:

    1. Subvention from Brand
    2. Commission percentage on Savings
    3. Commission percentage on Credit

    Blance – Challenges

    For any fintech, building trust with customers poses a challenge. Blance is 1000% focused on solving for trust. With a dedicated Chief Trust Officer responsible for creating trust around the brand and generating new ideas, here are some strategies the CEO, Ashutosh wrote about building trust:



    Blance – Key Tools and Software

    Blance utilizes a variety of key tools and software to efficiently run the startup. These include:

    Blance – Awards and Achievements

    Blance has received recognition from Startup India, marking a significant acknowledgment and achievement for the company.

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    Blance – Competitors

    Some of the top competitors of Blance are:

    • Multipl
    • Jar
    • SayF
    • Hubble

    Blance – Future Plans

    Blance’s future plans include expanding to other Tier 1 & 2 cities in India in the next few months, with a commitment to providing comprehensive financial solutions for users across the country.

    FAQs

    What does Blance do?

    Blance offers discounts for planning purchases in advance, which can help consumers save money and reach their financial goals.

    Who are the founders of Blance?

    Ashutosh Prakash Singh, Neeraj Gupta, and Pankaj Gupta are the co-founders of Blance.

    How does Blance generate revenue?

    Blance drives revenue through subvention from brands, a commission percentage on savings, and a commission percentage on credit transactions.

    How has Blance contributed to financial inclusivity?

    Blance’s user-centric approach has made goal-oriented saving and credit accessible, ensuring financial inclusivity for a diverse audience.

  • Credgenics CEO Rishabh Goel Talks Tech Revolution in Debt Collection

    In a rapidly evolving financial landscape, the debt collection industry in India faces unique challenges and opportunities. Historically characterized by manual processes and a lack of comprehensive regulations, debt resolution in the country has been ripe for transformation. Rishabh Goel, Co-founder, and CEO of Credgenics, sheds light on how his company is leveraging cutting-edge technology to revolutionize debt collection practices, reduce non-performing loans, and drive efficiency in this exclusive interaction with StartupTalky.

    StartupTalky: What are the biggest challenges facing the debt collection industry in India today?

    Mr. Goel: Historically, debt resolution practices in India have remained overlooked and disregarded for several reasons. Despite modern technology adoption propelling various facets of the banking industry forward, this particular area has lagged behind in modernization. It is commonly perceived as a back-end operation driven by manual efforts, utilizing bulk strategies, operating with isolated expert teams, and lacking an integrated approach. The available technological solutions have followed a disjointed and piecemeal approach, failing to address the broader industry-wide goals. Additionally, there exists a cultural barrier surrounding debt collections, as society tends to shy away from openly acknowledging and discussing financial challenges. Debt and financial difficulties are often considered private matters, and seeking professional assistance for debt resolution can sometimes be viewed as a sign of inadequacy or failure.

    Until recent years, the debt resolution industry lacked comprehensive regulations and oversight. This absence of oversight led to borrower concerns and unethical practices being adopted by some service providers, further tarnishing the sector’s reputation and public perception.

    StartupTalky: How is Credgenics using technology to revolutionize the debt collection industry in India?

    Mr. Goel: Credgenics is a pioneer in embracing AI and ML capabilities and the power of digital to create new-age technology solutions for the debt collections industry. The insights from ML models in the Credgenics platform provide actionable insights on borrower segmentation, behavioral patterns, risk-based strategy, and the efficacy of digital engagements by analyzing past data. This helps equip the collections teams with the right input for making informed decisions, making the collections process more efficient, personalized, humane, and productive. With tailor-made automated communications across multiple channels, on-demand scale-up capabilities, and adopting human-like interactions through multilingual bots, the collections processes are becoming faster, more transparent, customer-centric, and modern.

    Credgenics has ensured that lenders’ debt collection processes align with both rapidly evolving business needs and regulatory frameworks. With extensive controls in place, lenders can monitor and track compliance and adherence to business practices easily.

    Credgenics will continue to leverage the latest technological developments to provide its customers with the most effective collections management solutions, ensuring strict compliance with rapidly evolving regulatory requirements, and enhancing customer experiences and engagements during the collections phase.

    StartupTalky: What are the key benefits of Credgenics’ platform for lenders and borrowers? How is Credgenics helping lenders reduce their non-performing loans (NPLs)?

    Mr Goel: The future of collections is digital-first and data-driven. Over the past decade, the financial services sector has evolved tremendously, thanks to developments such as wider access to smartphones, deep internet penetration, simpler digital payments, seamless data sharing, focus on financial inclusion initiatives, and the rapid rise of FinTechs. There is a need to align strategies in light of these developments and transform the collections processes overall. Debt collections is a crucial area, that has lagged in the transformation curve, and Credgenics is facilitating that change.

    Credgenics has created an enormous impact on the lending ecosystem through its state-of-the-art integrated collections technology platform, which allows lenders to digitize and manage their end-to-end recovery workflow – including communications, strategy, field operations, litigation, billing, payments, and reconciliation – from pre-due stages to various delinquency buckets and field collections to legal stages. Our SaaS-based specialized technology platform and data-driven approach have enabled us to reimagine these processes for lenders and help them get future-ready when it comes to debt collections.

    Credgenics currently works with more than 100 customers and has managed an overall loan book worth USD 47 Billion in Financial Year 22. So far, the firm has managed 40 million retail loans overall and sends out 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%.

    Collections processes of the future will be automated, digital, and will become a lot more touchless. A substantial portion of collections can easily happen via completely digital mode. Personalization and regionalization in strategies and relying on data-backed insights can make a lot of difference in the collection’s outcomes. Human efforts have proven to be much more effective when aligned with complex stages, while routine and repetitive tasks can be easily managed by machines. Machine Learning models are extremely useful in identifying gaps, improvement areas, and the impact of mitigation efforts over a period of time. Credgenics is using the latest technological capabilities to provide its customers with the most effective collections management solutions, help them with complete adherence to rapidly evolving compliance requirements, and enhance customer experiences and engagements during the collections phase.

    StartupTalky: What role do you see technology playing in the future of debt collection in India?

    Mr. Goel: As the debt collection industry evolves, technology is expected to play a crucial role in driving the entire narrative for reimagining debt collections. Lenders are beginning to realize the positive impact that this transformation can have on their businesses, and Credgenics is at the forefront of this change. With new lending business models gaining ground, digital loans rising in demand, and instant loan approvals being preferred, debt collections for such loans require a modern approach backed by robust technology. Our proprietary tech tools and data-driven approach have enabled us to create an effective communication channel with borrowers, increasing loan recovery rates and reducing collection costs.

    In the future, collection processes will undergo significant automation and digitalization, aiming to minimize human involvement. We strongly believe that a substantial portion of collections can be efficiently conducted through digital channels, and the customization and fine-tuning of these processes can greatly impact the outcomes. Human efforts can be better directed toward complex stages, while routine tasks can be effectively managed by machines. The utilization of data-driven insights will play a crucial role in identifying areas for improvement, focusing on key aspects, and implementing mitigation strategies. Credgenics remains committed to harnessing the latest technological advancements to provide our clients with highly efficient collections management solutions. Our goal is to ensure strict compliance with rapidly evolving regulations while enhancing customer experiences and engagements throughout the collections process.

    StartupTalky: What are your top priorities for Credgenics in the next 12-24 months, and how do you plan to expand your business internationally?

    Mr. Goel: Over the next few months, we will continue to invest in adding new capabilities to our solutions based on the evolving business needs of our customers. We plan to expand our business operations in other countries in Southeast Asia, and we will be incorporating the regional requirements as well. We are also looking at solving the collections-focused challenges of related industry segments where strong synergies exist.

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  • GetVantage’s Bhavik Vasa Unveils $500 Billion Opportunity to Tackle SME Credit Deficit

    StartupTalky is thrilled to have Mr. Bhavik Vasa, Founder and CEO, of GetVantage as our guest, for a captivating discussion on critical topics. Given the growth potential of the economy, today’s discussion focuses on how GetVantage plays a crucial role in addressing the credit deficit in the SME market. A recent industry report published by GetVantage, in collaboration with Redseer, sheds light on a $500 billion credit opportunity in the SME sector.

    Bhavik Vasa’s expert insights along with GetVantage’s mission to simplify venture finance will undoubtedly enhance our understanding of this ever-changing landscape. Additionally, we will explore government policies, the crucial aspect of data protection, and the hypothetical possibility of data as collateral during our conversation.

    StartupTalky: Today, we have with us the Founder and CEO of GetVantage, Mr. Bhavik Vasa. Good evening Bhavik. Welcome to StartupTalky. It is a pleasure for us to have you with us today.

    Bhavik Vasa: Yes, thank you. A pleasure to be here and talking and sharing insights from what vantage point we have on the growth that the Indian economy is going to be seeing.

    StartupTalky: Sure, let us jump right in with my first question for you. How do you envision GetVantage’s role in addressing the credit deficit? According to a recent report, there is a potential credit deficit of 220 billion in the digitized MSME sector, with an opportunity of about 500 billion in the sector. How do you foresee GetVantage capitalizing on this market?

    Bhavik Vasa: I believe the industry report we recently published further underscores an opportunity that we all recognize within the Indian economy. As of now, India boasts a $3 trillion economy. To realize the ambition of reaching a $5 trillion economy in the next five to seven years, a substantial infusion of capital is essential to fuel this growth.

    India has traditionally thrived on its small businesses, and to attain the targeted GDP growth, we must foster the growth of these enterprises by facilitating access to capital. And I think that is what truly our passion and mission at GetVantage is – How do we make sure that this sector, which has always been a priority sector, gets access to capital that is more frictionless, simpler for every small business and startup out there that is growing month on month, quarter on quarter.

    The only way to really do this right is by using the power of technology and data. If we can use the power of the fintech platform that we have built and the amount of real-time data we can pull on a business, we can quickly evaluate the business and create a complete journey to onboard a business, evaluate them, and get money to them as quickly as possible. That is where tech and data, along with AI and Machine Learning-driven analysis, will come into play to get access to capital that is more democratized.

    StartupTalky: That is a very insightful perspective, Bhavik. Since you talked about what needs to be done, I would like to ask what GetVantage is doing to address this issue.

    Bhavik Vasa: The way we put it is that a lot of fintech companies say that they’re disrupting something. We actually say we are not disrupting anything; we are simplifying venture finance. That is the simplest way I can put it. We are probably the country’s first truly digital platform, where right from the onboarding journey, to the application journey, we have simplified the process.

    For years, small businesses have struggled to provide so much data and paperwork to qualify for a small business loan or financing. With our proprietary technology platform, driven by APIs and AI and ML-driven credit engines, we have created a frictionless and simple journey. Small business owners and startup founders can come online to our portal, GetVantage.co, and quickly start their process by connecting a few data points like their PAN, GST numbers, bank accounts, and real-time online platforms. From that application journey to quick evaluation, we can evaluate and disburse money to a business in 48 to 72 hours.

    Our goal is to make finance paperless and funding performance-driven, making it accessible to businesses from metro cities to small Tier 2 towns. We want to ensure businesses can quickly access financing ranging from Rs 5 lakh to Rs 5 crore in just a few days by connecting their data and completing an online application with GetVantage.

    StaryupTalky: Maybe that is one of the main reasons why the concept of digital lending came into effect. Earlier, there was a lot of bureaucracy and longer processing times for traditional lending institutions to disburse loans and credit. So, definitely, the development of this sector has streamlined the process for businesses.

    Bhavik Vasa: Absolutely, Sayantan. The digital lending space has transformed access to capital for businesses and made the process significantly more efficient and accessible.

    StartupTalky: So, moving on to government policies, what is the government doing to facilitate the growth of lending institutions and the MSME market so that there is a smooth flow of capital?

    Bhavik Vasa: The government is currently at an inflection point in terms of fostering the growth of small businesses and MSMEs. These sectors have always been a priority for lending, and the government recognizes their importance for the overall economy.

    In recent budget sessions, the government has allocated substantial capital for priority sector lending and introduced corporate guarantee schemes to fuel the growth of small businesses. There is a strong awareness of the need to support these sectors to achieve the goal of becoming a $5 trillion economy. This involves identifying the importance of these sectors at the government and Finance Ministry levels, along with the active participation of industry players. The government’s efforts are aligning well with the growing importance of small businesses and startups in India, and there is a significant amount of capital earmarked for these sectors.

    Now the challenge is to ensure that this capital reaches small businesses efficiently, which is the role of industry players like GetVantage. We need to innovate and leverage technology to make the entire process more seamless and provide quick access to various forms of capital.

    StartupTalky: Indeed, it is a pivotal time for the government, regulatory bodies, and industry players to collaborate and ensure the smooth flow of capital to small businesses and startups.
    Now, moving on to startups, they play a crucial role in the economy. How do you see the startup initiative, especially the G20 Summit, helping the growth of Indian MSMEs? Will they be endangered by foreign competition or be able to prosper more in the global market?

    Bhavik Vasa: There could not be a better time to launch a new brand, business, or startup than in India right now. The market dynamics are playing out favorably for startups and small businesses.

    Startups are essentially emerging brands across various sectors, and GetVantage has backed over 500 emerging brands and startups in 18 different sectors. These startups are representing the local consumption trend, and “local for local” is becoming increasingly popular. Indian consumers are opting for Indian brands, and this trend is being further boosted by equity capital and foreign investments pouring into local startups and brands.

    The game is just getting started, and as we get more forms of capital into the hands of small businesses and brands, there is no stopping them from achieving their growth potential and competing effectively, whether it is against other local players or international ones.

    StartupTalky: Absolutely, the support for startups and the growth of Indian brands is a promising sign for the economy. Now, let us dive into the importance of data.
    Given the recent Digital Personal Data Protection Act of 2023, what measures is your company taking to ensure data protection for customers and businesses that are engaged with GetVantage?

    Bhavik Vasa: Data is indeed crucial, and it is not only about data protection but also about secure access and utilization of data. Accessing data is the first step, and we start by making sure that accessing this data is seamless and secure. We aim to create a paperless and digital journey for small businesses, reducing the risk of data leaks and misuse. We follow strict security measures, including ISO standards and Infosec certifications, to ensure that data is accessed and handled securely.

    Additionally, our technology platform allows us to monitor a business’s health in real-time through live connectors and APIs, adding another layer of security. This monitoring ensures that data remains secure and provides early warning signals if something goes awry. Data security and compliance are integral to our operations.

    StartupTalky: It is reassuring to hear that data security is a top priority for GetVantage.
    Now, let us explore the hypothetical concept of data as collateral. There already exists the practice of putting commodities in a warehouse as collateral. Now, do you see a future where businesses use their data as collateral to access credit? Also, how can such data be secured if it is used as collateral?

    Bhavik Vasa: It is not a hypothetical scenario; it is happening in real time. Data is becoming a valuable collateral asset for businesses. Using technology and APIs, we access data directly from the source, ensuring there is no misrepresentation. This access to real-time data not only allows us to evaluate a business but also provides a live monitoring system throughout the financing tenure. It acts like an ECG for the business, giving us insights into its health and performance. This new form of collateral, live data monitoring, de-risks the lending model significantly and represents the real-time health of the business. It is a secure way to provide financing while continuously monitoring the business’s performance.

    StartupTalky: That is indeed an innovative approach to collateral, utilizing real-time data to assess and monitor a business’s health. Bhavik, it has been really a highly informative and insightful conversation. Our audience will certainly gain a better understanding of the market and the role of GetVantage in it.

    Bhavik Vasa: Thank you, Sayantan. It has been a pleasure discussing these important topics with you.

  • Bolt: Supercharging Online Businesses and Turning Shoppers into Lifetime Customers

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

    One-click checkout has emerged as a game-changing technological solution in the world of e-commerce. With this revolutionary solution, online businesses can simplify their checkout process and reduce the likelihood of cart abandonment, resulting in increased sales. Every e-commerce store looks forward to deploying this solution to improve customer experience and ignite conversion rates.

    Years ago, Amazon solely had patent rights to a one-click checkout solution. But things changed, and a US-based startup, Bolt Financial Inc., developed its own one-click, lightning-fast checkout software.

    Let’s read more about Bolt’s journey, funding, partners, products, growth, competitors, and more.

    Bolt – Company Highlights

    Company Name Bolt
    Headquarters San Francisco, California, United States
    Sector FinTech
    Founders Ryan Breslow and Eric Feldman
    Founded 2014
    Valuation $11 billion (2022)
    Website Bolt.com

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

    About Bolt

    Bolt Financial Inc. (Bolt) is a financial technology company providing mobile-read checkout software designed for e-commerce sites to incorporate sales analysis, process online payments, and prevent fraud. The software helps retailers strengthen their relationships with shoppers by unlocking lightning-fast, secure, logged-in, one-click checkout.

    Headquartered in San Francisco, California, Bolt works in Salt Lake City and Stockholm while serving about 250 merchants and processing nearly $500 million in sales annually. Moreover, around 5.6 million shoppers have signed onto Bolt’s network.

    Bolt – Industry

    Bolt operates in the fintech industry, the global market size of which was estimated at $110.57 billion in 2020 and is forecasted to grow to $698.49 billion by 2030. The market is projected to grow at a CAGR of 20.3% from 2021 to 2030. Government around the world is supporting fintech tools, platforms, and solutions to increase financial inclusion resulting in industry growth.

    Moreover, during the Covid-19 pandemic, the need for digital payment services increased. And the companies like Google Pay and PayPal witnessed a considerable increase in customers and digital transactions. Other key players in the fintech industry are Ant Group, Stripe, Inc., Intuit, Inc., Coinbase, and Adyen Group.

    Bolt – Founders and Team

    Ryan Breslow and Eric Feldman are the co-founders of Bolt.

    Ryan Breslow

    Ryan Breslow - Co-founder and Chairman, Bolt
    Ryan Breslow – Co-founder and Chairman, Bolt

    Ryan Breslow is the Co-Founder and Chairman of Bolt. He completed his graduation in Computer Science from Stanford University. Ryan has founded multiple companies, including The Movement, Sites by Hand, Prism, Eco, and Love. Moreover, he invested in Cove PBC, Terzo, Permanent, and Green Carbon.

    Eric Feldman

    Eric Feldman - Co-founder, Bolt
    Eric Feldman – Co-founder, Bolt

    Eric Feldman co-founded Bolt but left the company in 2017. He graduated with Ryan Breslow from Stanford University in Computer Science. Moreover, Eric invested in different companies, including Gradia Health, SphereOne, Practice, Rocket Academy, and FrontRow.

    Bolt Team

    Maju Kuruvilla

    Maju Kuruvilla is the CEO of Bolt. He is a Computer Engineering graduate from Mangalore University and an MBA from the University of Washington. Before being appointed as Bolt’s CEO, he was the company’s COO. Additionally, Maju worked as VP at Amazon, CTO at Milliman, and Software Engineer at Microsoft and Honeywell.

    • Tina Fan – Chief Customer Officer
    • Scott Stockberger – Chief Financial Officer
    • Bob Buch – Chief Business Officer
    • Tom Berger – VP of Marketing

    Currently, Bolt employs approximately 1,000+ employees.

    Bolt – Startup Story

    Bolt was founded in 2014 by Ryan Breslow and Eric Feldman. Ryan and his friends at Stanford used to mine Bitcoin out of their dorm rooms, but he dropped out to start Bolt with a fellow student, Eric Feldman. Their main motive was to simplify online checkout for consumers and help independent retailers compete with Amazon, the only company with a patent on one-click checkout until 2017. The startup operated out of Ryan’s dorm room. Bolt started as a Bitcoin wallet company but, after some time, pivoted to e-commerce payments.

    In mid-2016, the company officially launched its first merchant with the payment solution. In 2018, it began publicly pitching merchants on its fraud protection solution. Bolt launched an Amazon-like checkout in 2019. A year later, in 2020, it launched the ‘Retailers Give Back’ Index. In 2021, Bolt launched the Single Store Account and Payment for e-commerce merchants. The company introduced Virtual Shopper Assistant in October 2022.

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    Himaya PresthithaStartupTalky

    Bolt – Mission and Vision

    The company’s mission is to democratize commerce. Its vision is to set new standards for e-commerce.

    Bolt – Business Model

    Bolt is a mobile-read checkout software that handles online payments for e-commerce retailers, offers fraud protection, and allows customers to buy products with a single click. This one-click checkout software could be plugged into the existing payment platform of any business to convert more shoppers into buyers. The software allows customers to login into e-commerce sites without a password and instantly checkout.

    Moreover, Bolt is fully equipped to support messages, gifts, gift cards, redeem discounts, and easily handle shipping. The company claims that Bolt’s integrated functions can help businesses cut their checkout times from more than one minute to 30 seconds.

    Bolt – Products and Services

    The product offerings of Bolt include the following:

    • The Bolt Network
    • One Click Checkout
    • Account Creation
    • Fraud Protection
    • Bolt SSO
    • Goodbye, Guest Checkout
    • Bolt Payments
    • Merchant Analytics
    • Product Releases
    • Checkout Everywhere

    Bolt – Challenges Faced

    It’s been reported that Bolt often overstated its technological capability and misrepresented the number of merchants using its services in a rush to show growth. Moreover, in the investors’ presentations, the company listed customers before verifying whether those merchants were able to use its technology. In November 2021, one of the company’s biggest customers, Authentic Brands Group, sued it for failing to deliver the technological capabilities it held out as processing.

    Even in January 2022, Ryan Breslow abruptly stepped down as chief executive, blindsiding some investors who had invested money into Bolt weeks earlier. Some investors were looking to sell their stakes with customers questioning the company’s technology. In April 2022, Bolt announced a three-month hiring freeze in the staff meeting.

    Bolt – Funding and Investors

    Bolt has raised $972.1 million over 10 funding rounds. Its latest funding round – Secondary Market Round, was conducted on January 19, 2022. General Atlantic, Westcap, Axevil Capital, Schonfeld Strategic Advisors, and Activant Capital are some leading investors funding the company.

    Date Round Number of Investors Money Raised Lead Investor
    January 19, 2022 Secondary Market 1 – –
    January 14, 2022 Series E 9 $355 million –
    October 12, 2021 Series D 11 $393 million –
    December 21, 2020 Series C 5 $75 million General Atlantic, Westcap
    June 16, 2020 Series C 7 $50 million Westcap
    July 9, 2019 Series B 23 $68 million Activant Capital, Tribe Capital
    July 1, 2018 Series B 35 $22 million Activant Capital
    October 26, 2016 Series A 3 $9 million Long Venture Partners
    July 29, 2015 Seed Round 3 CN¥500K –
    January 1, 2014 Seed Round 1 – RRE Ventures

    Bolt – Mergers and Acquisitions

    Bolt acquired Tipser on November 24, 2021.

    Bolt – Growth

    The post-money valuation of Bolt is discussed below:

    Year Valuation
    2022 $11 billion
    2021 $4 billion
    2019 $357 million
    2018 $250 million

    Its revenue in 2021 was roughly $30 million, and it made $7.2 million in Q1 of 2022. From 10 employees in 2018, the company’s team size has grown to 800 in 2022.

    Bolt – Partners

    Bolt has collaborated with the following e-commerce platforms, agencies, and solution integrators:

    Bolt – Awards and Achievements

    During the journey, Bolt has built an award-winning culture and workplace, with the company being recognized by industry leaders. It is honored by the following listed awards:

    • Forbes 2019 Fintech50
    • Fintech 250 by CB Insights
    • 2020 Inc. Best Workplaces
    • Entrepreneur 360 Bolt
    • Fortune Best Workplaces in the Bay Area 2020
    • Great Places to Work (Certified APR 2021 – APR 2022 USA)

    Get to know Bolt

    Bolt – Competitors

    Below listed are some main competitors of Bolt:

    FAQs

    What is Bolt Financial Inc.?

    Bolt Financial Inc. (Bolt) is a financial technology company providing mobile-read checkout software designed for e-commerce sites to incorporate sales analysis, process online payments, and prevent fraud.

    Who are the founders of Bolt Financial Inc.?

    Ryan Breslow and Eric Feldman are the co-founders of Bolt.

    Who is the CEO of Bolt Financial Inc.?

    Maju Kuruvilla is the CEO of Bolt.

    Who are the main competitors of Bolt Financial Inc.?

    The main competitors of Bolt Financial Inc. include PayPal, Stripe Connect, Signifyd, Apple Pay, Amazon Pay, and Checkout.com.