Tag: Muvin

  • 9 Best Video on Demand Platforms

    According to Fortune Business Insights, the global video-on-demand (VOD) market is expected to grow from USD 82.77 billion in 2022 to USD 257.59 billion by 2029. That is a very huge number. But, wait there is more to it!

    According to Statista, the total revenue generated by the VOD segment is expected to reach $94.88 billion in 2022. With the growth of OTT apps and advancements in AI, Blockchain, and Cloud Computing all these numbers are going to increase exponentially.

    All these stats show that if you integrate VOD into your business you can grow your consumer base and boost your revenue tremendously.

    But, how to launch your VOD service? Which platform will help you upscale your business using the power of video?

    To clear all of your confusion we bring you the top 9 best video-on-demand (VOD) platforms that will help you unlock the true potential of your videos.

    We will tell you the features and prices of all the platforms in great detail. We will also recommend which platform is best suited for which audience.

    What is VOD?

    1. Brightcove
    2. Uscreen
    3. Dacast
    4. Muvi
    5. JW Player
    6. Kaltura
    7. Vimeo
    8. Wistia
    9. Vidyard

    What is VOD?

    Video on demand (VOD) allows your viewers to access a huge library of videos and watch any show or movie of their choice instantly anytime from any device. They can pause, rewind or fast forward the video and even watch it again and again as much as they want.

    Popular examples of VOD include Netflix, Prime Video, and Disney+ Hotstar.

    With that understood, let’s see the top 9 VOD platforms.

    (The following list is not numbered chronologically. The platform on spot 1 doesn’t mean that it is the best platform. Understand the features of all the platforms and then decide which one to use)

    The above graph shows the VOD market growth at the rate of CAGR 17.6% from the year 2021-2029 in US billion Dollars as per the data shared by maximizemarketresearch.com
    The above graph shows the VOD market growth at the rate of CAGR 17.6% from the year 2021-2029 in US billion Dollars as per the data shared by maximizemarketresearch.com

    1. Brightcove

    Brightcove Website
    Brightcove Website

    Brightcove is a very popular VOD platform that provides you with advanced video marketing, automation, monetization, and security functions. The platform guarantees you 99.99% uptime with a 99.99% success rate.

    The Brightcove Video Player supports adaptive bitrate streaming which means that your audience will get the best video quality every time. The video player adapts the video to all screen sizes. Not only you can deliver videos online you can even create your OTT apps and a TV channel. Using Brightcove Beacon you can create your own OTT solution through which you can reach a wider audience.

    Beacon offers flexible subscription, ad-supported, and transactional pay models to help you generate revenue. Brightcove CorpTV allows you to create your own TV channel which can be accessed by viewers anytime using any device. This is surely some advanced stuff!

    Let’s see some more advanced features of Brightcove:

    • You can Livestream content and give viewers the ability to rewind and jump straight to the live broadcast.
    • Get all the essential video metrics like sessions over time, percentage of library viewed, percent of content viewed, new viewers, unique viewers, geography, traffic sources, and much more on your dashboard.
    • Brightcove-exclusive Attention Index indicates your top watched titles that allow you to make an effective content marketing strategy.
    • The platform provides you with advanced security features like watermarking, domain and IP restrictions, and geo-restriction.
    • Even the viewer’s data stored in the system is GDPR compliant and processes Pii which means that even your audience doesn’t need to worry about their information.
    • Restrict your videos by date, domain, geography, video player, or IP address to ensure that your videos are only watched by the people who you want to.
    • With its comprehensive built-in advertising features and ad network, you can easily monetize your videos by placing ads in your videos or display banners.
    • Test how one similar video works on different locations like homepage, mobile app player, video library player, etc.
    • DRM (Digital Rights Management) encrypts your videos to give them an additional layer of protection.
    • Integrates with WordPress, Drupal, Sharepoint, Adobe Experience Manager, Joomla, and Ektron, as well as Digital Asset Management (DAM) systems.

    Pricing:

    Brightcove doesn’t display its pricing plans on its website. You can contact their team with your requirements to get the quotation.

    Suitable For:

    If you are a big enterprise that wants to push the boundaries of VOD and create a name for yourself in this market then Brightcove provides you all the tools you ever need to succeed.

    Although if you are a small enterprise then Brightcove is not for you.

    2. Uscreen

    Uscreen Website
    Uscreen Website

    If you are serious about your video streaming business then Uscreen is for you. Using this platform you can make your own website and OTT apps for mobile devices and TVs without any coding language.

    Heck, you can even create an Apple Watch app!

    You can provide high-quality HD content to your viewers and earn money using various monetization options like paid subscriptions, one-time payments, rentals, and more.

    Let’s see some other exciting features of Uscreen:

    • Create a breathtaking website using customizable themes and templates.
    • Using the Uscreen HTML5 video player you can provide a full HD quality viewing experience to your audience.
    • The player automatically adapts to various screen sizes.
    • Add closed captions to your videos and create chapters, episodes, or playlists.
    • Live stream with your audience and offer them live chat support to keep them engaged.
    • Personalize your apps according to your branding.
    • Manage all your content in one central admin area.
    • Build your affiliate program.
    • Generate, convert and retain your customers using in-built marketing automation tools.
    • Launch sales and product pages.
    • Accept payments from 130+ international currencies using Stripe, PayPal, and Authorize.net.

    Pricing:

    Uscreen Pricing
    Uscreen Pricing
    • Basic: $79/mo + $0.50 per subscriber/month
    • Growth: $159/mo + $0.50 per subscriber/month

    Suitable For:

    Uscreen is suitable for both big and small creators who want to create their own OTT apps.

    It is easy to use and comes with tons of customization and marketing automation tools.

    3. Dacast

    Dacast Website
    Dacast Website

    Dacast provides solutions for both live streaming and VOD hosting. Using this tool you can host your videos, monetize them, and broadcast with an end-to-end live streaming solution.

    The advanced CMS solution allows you to upload, transcode, organize, monetize, analyze, and share your videos and even embed them in various marketing campaigns with ease.

    You can start using the platform with its free 14-day trial.

    Features of Dacast:

    • Host your videos online and organize them in different categories, subcategories, and playlists.
    • With its built-in transcoding tools convert your video into a format that is best suited for the viewer’s streaming experience. This allows your files to playback on any device with HD quality.
    • HTML5 video player adapts to all mobile device sizes.
    • Embed videos and share them on various social media platforms.
    • Show your videos in the form of a video gallery and customize your landing pages.
    • Monetize your videos using the pay-per-view model or via the monthly or even weekly subscription or take a one-time fee for unlimited access to your videos.
    • The tool automatically converts the currency on paywalls to show the cost of streaming in the user’s currency.
    • Get 24/7 technical support.

    Pricing:

    Dacast Pricing
    Dacast Pricing
    • Starter: $33/month
    • Event: $63/month
    • Scale: $166/month

    Suitable For:

    If you are looking for a platform to host and monetize your videos with additional live-streaming support then you consider Dacast.

    4. Muvi

    Muvi Website
    Muvi Website

    Muvi empowers your business by giving you multiple video and audio streaming services.

    Launch your own Multi-Screen OTT cloud VOD Platforms like Netflix that works on major platforms like websites, android apps, iOS apps, and streaming media boxes like Roku, Apple TV, and Amazon Fire TV. All of this without any coding or IT knowledge.

    The team of Muvi will manage your servers, storage, bandwidth, database server, firewalls, and CDN. You only have to focus on your business. Muvi also makes live streaming very easy. This doesn’t end here! You can build a multilingual website and audio live-streaming app like Spotify.

    All of your content is hosted on Amazon Web Services and Amazon CloudFront works as the default CDN. This means that the content delivery would be very fast. Muvi also takes security seriously. They regularly conduct tests like Penetration Testing and Security Audits to ensure that your video is safe.

    Muvi also provides 24×7 security monitoring of the infrastructure to prevent DDoS attacks.

    Other features of Muvi are as follows:

    • All the apps and websites will have your brand logo. The apps would be published to respective stores under your developer ID.
    • Muvi Kart allows you to create a dedicated online store through which you can sell merchandise.
    • Monetize your VOD, live streaming, and audio streaming with different options like subscription, pay-per-view, ads, or combine all of them.
    • You can even give coupon codes, voucher purchases, or bundle videos together to encourage people to use your services.
    • With a single CMS dashboard, you can upload, edit or delete videos, manage your server and CDN, review your website and OTT apps and analyze user analytics and revenue reports all in one place.
    • Keep your videos safe by encrypting them.
    • Muvi integrates with major payment gateways like Adyen, Stripe, PayPal, Authorize.net, FirstData, InstaFeez, WorldPay, Braintree, and Paygate.
    • Give invoices to your viewers in their local currency.

    Pricing:

    Muvi Pricing
    Muvi Pricing
    • Standard: $399/mo
    • Professional: $1499/mo
    • Enterprise:  $3900/mo
    • Ultimate: $8900/mo

    Suitable For:

    If you are looking for an all-in-one platform through which you can launch your own OTT app, offer VOD and live streaming, build an audio streaming app, monetize your content and sell physical products via a separate online store then Muvi is perfect for you.

    It is suitable for big enterprises.

    5. JW Player

    JW Player Website
    JW Player Website

    JW Player allows you to take full advantage of your videos by giving a host of solutions. You can live stream with very low latency, deliver your content on mobiles and laptops, find insightful video metrics and monetize your content all in one place.

    JW Player’s multi-CDN approach with network POPs in 130+ countries guarantees you 99.99% global delivery uptime.

    You can build lightning-fast OTT apps and go live instantly from anywhere in less than 30 seconds to your web players, mobile, and social media platforms. You can even broadcast live 24/7.

    Using their mobile SDKs developers can easily add JW Player functionality to their Android and iOS applications to deliver high-quality and consistent playback video experience to mobile users.

    Before we tell you the pricing model let’s see some other features of this platform:

    • Upload, manage and deliver compelling experiences using video streaming.
    • Transcode videos and optimize them for a 4k resolution viewing experience.
    • The HTML5 video player delivers videos in HD quality for every screen size and guarantees a buffer-free experience.
    • You can customize the colour, thumbnails, and viewing experience of the video player as per your branding.
    • Protect your content with advanced security options like studio-approved DRM, geo-blocking, HLS token signing, and much more.
    • The tool offers numerous ways to monetize your content using ads.
    • Built-in support for SpotX, Google DFP, Google IMA, AdX, and FreeWheel.
    • Drive more revenue by using the header bidding solution which is built directly into the video player.
    • Article Matching is a unique functionality that automatically inserts a relevant video from your content library into any post by analyzing its title and metadata.
    • Automatically recommend unique content to your viewers based on their past viewing activity.
    • Discover new video insights by integrating JW Player with Google Analytics, Adobe, Nielsen, Comscore, Conviva, and more.

    Pricing:

    JW Player Pricing
    JW Player Pricing

    You can first try their 30-day free trial where you will get full API and SDK access and can host up to 25GB of video, and have up to 75GB of content watched by your audience.

    After the trial, you can contact the team to get custom pricing options.

    Suitable For:

    If you have a small business where you aim to deliver high-quality streaming content to your audience then you can opt for JW Player.

    6. Kaltura

    Kaltura Website
    Kaltura Website

    Kaltura provides you with a wide variety of video-based solutions. Video Cloud APIs and developer tools allow you to host, stream, edit and transcode videos without any complications. Virtual events can be easily created using customizable templates.

    You can even build your own online TV channel where you can showcase all of your videos in a highly personalized way.

    The other features of Kaltura are as follows:

    • Attendees can easily register for your event with a few clicks and enjoy 4k streaming, either live or pre-recorded.
    • Monitor your quality of service (QoS), track attendee engagement from registration to participation, and run a post-event analysis from your dashboard.
    • Manage all of your videos on a content management system that only you and your team can access.
    • Add metadata to your videos, organize them into categories, create playlists and publish videos from a single video portal.
    • Town Halls is another useful functionality through which you can live stream and engage your viewers with live Q&A and polls.
    • All of your live streams are hosted on the cloud which means you can record and edit them and add hotspots, captions, and translations later on.
    • Send video messages as an email and analyze who’s watching, when, and where.
    • You can even create a virtual classroom where you can teach students.
    • Integrates seamlessly with Blackboard, Brightspace, Canvas, Moodle, and Sakai.

    Pricing:

    Kaltura doesn’t provide a single pricing structure. You pay based on the functions you use.

    Most of the different features come with free trials, so you can use them for free and then pay money.

    Suitable For:

    If you are looking to create online course material then Kaltura will meet all of your requirements.

    7. Vimeo

    Vimeo Website
    Vimeo Website

    Vimeo is another popular VOD app through which you can host videos online, create virtual events, share video messages and monetize your content. You can also create a video website.

    You can even build a custom video app that works on all major platforms like iOS, tvOS, Android, Android TV, Amazon Fire, Roku, Xbox, and Samsung Tizen. You can accept payments and subscriptions from the app itself.

    App development and maintenance are handled by the Vimeo team; you only have to focus on creating quality content.

    Take a look at the other features of Vimeo:

    • Deliver a high-quality viewing experience to your audience with 4K and HDR video and Dolby Vision audio support for both live and on-demand content.
    • Organize and share all of your videos on a centralized hub.
    • Easily create effective ad campaigns with ready-made templates and embed them anywhere on your website.
    • Allow your customers to directly buy your products while watching your videos.
    • Capture leads by adding in-video CTAs, shoppable hotspots, and overlays.
    • Host virtual events and engage your audience with live chat, polls, Q&A, and automatic closed captions.
    • Easily send video messages to your employers and measure employee interaction, engagement, and compliance.
    • Monetize your content with rentals and on-time purchase and subscription options.
    • Encourage your customers to buy your products by giving them promo codes or discount coupons.
    • Integrates with Google Drive, HubSpot, WordPress, Shopify, Figma, Meta, Dropbox, Adobe Premiere, Final Cut Pro X, and much more.
    • Protect your hosted videos online by hiding them from search results, adding passwords, or limiting their access to a few people.

    Pricing:

    Vimeo Pricing
    Vimeo Pricing
    • Starter: US $12/per mo
    • Standard: US $35/per mo
    • Advanced: US $55/per mo

    Suitable For:

    If your priority is to provide high-quality video and audio quality to your audience then Vimeo is an ideal choice for you.

    8. Wistia

    Wistia Website
    Wistia Website

    Wistia is a video marketing platform that allows your business to capture leads and convert them into customers all with the help of videos.

    Using the cloud-based video CMS you can host, upload, and get feedback on all your videos in one place. You can get all the video metrics that help you optimize your video campaigns.

    You can even analyze how each viewer sees your videos second by second so you can talk with your most engaged prospects.

    All the other features of this tool are heavily focused on helping your business scale with the help of video marketing:

    • Record your desktop screen with your face using the browser-based screen recorder.
    • Trim and edit your videos or webinars with the built-in video editor.
    • Wistia’s HTML5 video player allows your viewers to watch your videos in HD resolution.
    • The video player automatically adapts to mobile, desktop, or tablet screens.
    • Viewers can adjust the video quality up to 4K and even speed up or slow down the video.
    • You can easily add videos to your website with its lightweight embed codes that load the videos super fast.
    • The player comes up with a built-in social sharing option which makes sharing videos very easy for your viewers.
    • Add an email collector tool between your videos to capture leads.
    • Create video galleries.
    • Add password and permission settings to keep your videos safe.
    • Integrates with ActiveCampaign, MailChimp, Pardot, Adobe Marketo Engage, AWeber, HubSpot, Google Analytics, Zapier, and much more.

    Pricing:

    Wistia Pricing
    Wistia Pricing
    • Plus: $24/mo
    • Pro: $99/mo
    • Advanced: $399/mo

    Suitable For:

    If you are looking for a VOD service specifically for video marketing then Wistia is best for you.

    Although if you opt for this tool you will not be able to make OTT apps or perform live streaming.

    9. Vidyard

    Vidyard Website
    Vidyard Website

    Vidyard allows you to send video messages to your prospects on emails or embed them in your landing pages. You can record, edit, host, and share high-quality videos instantly.

    With its robust CRM and marketing automation tool integrations, you can easily turn your leads into customers.

    You can start using the tool with its free plan that allows you to upload 25 videos to your library and share it on Gmail and other social media platforms.

    Let’s see some major features of this tool:

    • Easily record videos for up to an hour using the mobile or desktop app or via browser extensions. You can also record your screen.
    • Add in-video buttons, links, captions, and metadata and automatically transcribe your videos.
    • Edit and upload videos using simple drag-and-drop in various formats: MP4s, MOVs, WMVs.Get fast ad-free video hosting.
    • Get a responsive online video player which can be embedded and streamed anywhere, on any device
    • Add videos to your marketing campaigns and websites.
    • Customize landing pages, end screens, and Click-To-Action Buttons.
    • Upload videos to Facebook, LinkedIn, Twitter, and YouTube.
    • Get metrics on who is watching your video, what they are watching, and for how long.
    • Upload the video data in marketing automation platforms like Salesforce, Marketo, HubSpot, and more.

    Pricing:

    Vidyard Pricing
    Vidyard Pricing
    • Pro: $19
    • Business: Contact the team

    Suitable For:

    If you are looking for a tool for video prospecting then you can use Vidyard.


    Peervadoo – Review, Features and Pricing
    Peervadoo allows users to teach online courses, live stream, and create content for VOD platforms at reduced cost and bandwidth usage.


    Conclusion

    There is no single best VOD platform. It all comes down to your requirements. Understand the size of your business, your business goals, and the monetization options you are looking for. If you are at an early stage of startup then you should look for a platform that makes everything very simple. At the early stage, you can even use YouTube to test the waters. It is free, easy to use, and attracts a lot of viewers. You can even monetize your content using YouTube.

    Once you develop experience you can use any of the VOD tools mentioned on this list. On the other hand, if you are a big business that has experience in video making then you should look for a VOD platform that provides a lot of automation and monetization options. Since most of the platforms come with a free trial we highly recommend you to use the trial first and then decide which one to buy.

    FAQs

    What VOD means?

    VOD stands for video on demand. It allows the user to access their desirable video in their leisure time from the library of videos without the need for a traditional video playback device.

    Is Netflix a VOD?

    Yes, platforms like Netflix are considered VOD platforms.

    What are the different types of VOD?

    The six types of VOD are transactional VOD, catch-up TV, subscription models, near VOD, push VOD, and advertising VOD model.

    Which VOD means the best?

    There is a number of VOD platforms available on the web. Each one is designed with a different purpose. Some of the best VODs are Vimeo, VPlayed, Uscreen, etc.

  • muvin: India’s Teen-centric Pocket Money App

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

    Neobanking services are revolutionising both the financial and Fintech sectors in India. Fintech ecosystem is gearing towards better usage of Artificial Intelligence and improving customer satisfaction with popular neobanks in India like- RazorPayX, Jupiter, and Kotak811, to name a few. muvin is an emerging startup that enables a seamless experience for teens which includes pocket money management, financial literacy, and understanding savings from a young age, amongst others. It is a pocket-money app that encourages children to learn to manage finances.

    Read the startup story of muvin and know about its founders, business model, challenges, and growth.

    muvin – Company Highlights

    Startup Name muvin
    Headquarters Bengaluru
    Industry Fintech
    Founder Mukund Rao and Vineet Gupta
    Founded 2020
    Total Funding Raised $4.5 Million
    Website muvin.in

    muvin – About
    muvin – Industry
    muvin – Founders and Team
    muvin – Startup Story
    muvin – Name, Tagline, and Logo
    muvin – Vision
    muvin – Products
    muvin – USP
    muvin – Business and Revenue Model
    muvin – Customer Acquisition
    muvin – Customer Retention Strategy
    muvin – Challenges Faced
    muvin – Funding
    muvin – Growth

    muvin – About

    As India’s teen-centric pocket money app, muvin, offers a safe & secure platform to conduct online & offline transactions in an effortless manner- through its wallet, physical prepaid card and industry’s first RuPay powered contactless keychain.

    While parents/guardians can create an account to enable their dependents/children with an independent wallet, muvin also empowers India’s college going students to set up their own wallets to conduct transactions.

    As part of their focus on amplifying financial literacy amongst India’s teens, the muvin app offers an exhaustive library of enriching content to demystify concepts related to managing finance. They have onboarded Monika Halan, an entrusted Author and Speaker to curate and address theme-based topics in an easy, fun, and simplified manner. From taxes to what banking truly is, muvin is covering the fundamentals and more via rich byte-sized video and short blogs that are relevant for teens.

    muvin – Industry

    With new players entering this space, teen-centric pocket money apps and neobanks have become a competitive digital banking landscape in a short period of time. The space has grown exponentially in the last five years. In terms of transaction value, the Indian Neobanking ecosystem is expected to clock US$47.94bn in 2022 setting the foundation for substantial growth potential in the coming years.

    muvin – Founders and Team

    Mukund and Vineet have known each other for over 20 years from their time at Mindtree in the early 2000’s. They share a passion for enabling access to banking services for the youth and believe that finance is a life skill that everyone should acquire by the age of 21.

    Mukund Rao, Co-founder

    Mukund Rao, Co-Founder, muvin

    Mukund is an accomplished business leader with experience across financial services and technology. Former Capital Markets Head at Mindtree, Mukund founded derivIT in 2007 and grew it across 7 countries with a team of 400+ employees. He subsequently exited derivIT to Luxoft in 2017.

    After graduating from Bangalore University, he pursued his MBA from Ecole des Ponts Business School.

    Vineet Gupta, Co-founder

    Vineet Gupta - Co-founder of muvin
    Vineet Gupta, Co-founder, muvin

    Vineet has over 25 years of experience spread across technology and financial businesses, driving innovation and digital business models. Vineet moved on from Mindtree in 2015 after building out their Digital Business and subsequently founded a tech enabled NBFC focussed on business credit.

    He graduated from IIT-Delhi and went on to pursue his MBA from IIM-Lucknow.

    While both co-founders are actively engaged in all aspects of the business, Vineet looks after the Product, Operations, Finance & Technology functions at muvin, while Mukund looks after Marketing, Strategy and Business Development functions.

    muvin – Startup Story

    Despite India’s adoption of digital banking and contactless payments, the digital native generation still conducts over 80% of their transactions in cash. Both the co-founders, Mukund and Vineet, have teenage children who were using cash or their cards while spending money. They found the process of opening bank accounts for their kids and teaching them how to operate it within the restrictions on bank ATM/debit cards, rather cumbersome. The most common resort for parents like them was to hand over pocket money to their children. No wonder, teens often end up entering adulthood with little or no knowledge of financial management.

    They saw an opportunity in enabling digital payments and offering financial products for this young consumer base- in an easy-to-understand, intuitive and friction-free manner. This is how muvin came into being.

    They validated the hypothesis by empanelling Ipsos to conduct independent primary research of children and parents across 8 cities.

    muvin logo
    muvin logo

    muvin is a play on the word “moving”, where they would like their target audience to get moving and keep moving. The co-founders of muvin believe that Gen-Z is always on the go and they would like teens to get moving with their financial lives as soon as possible. The tagline, “payments for students”, addresses their audience and the core functionality of muvin, thereby avoiding any ambiguity.

    muvin – Vision

    muvin’s vision is to empower India’s 250 million youth with digital financial inclusion and financial literacy. muvin is unwaveringly moving forward in positioning the management of personal finance as an essential life skill and the need to inculcate it from an early age. muvin believes that India’s teens must be empowered to experience independence in their financial transactions and decisions in their day-to-day life.

    muvin – Products

    Bolstered by the pandemic, there has been widespread adoption of digital banking and contactless payments across the country which led to a permanent shift towards wallets, contactless cards, digital payment apps and other financial products. However, over 250 million teenagers and young adults in India are still precluded from not just financial education but banking services as well, conducting the majority of their transactions in cash. Gen Z are becoming financially aware and independent a lot earlier than a few decades ago. Pocket money apps for the teens are ideal in addressing their financial needs.

    Deployment of new-age technologies like AI, big-data analysis and cloud computing is helping it to offer an easy-to-understand, intuitive, friction-free and education-powered experience to the teens.

    muvin has partnered with the parent community towards its larger vision of amplifying financial literacy amongst India’s digitally savvy teens. It has also understood some other critical issues that matter to parents, such as tracking of their household expenditure.

    Parents now have the freedom to transfer pocket money allowance (one time /scheduled weekly / monthly) directly in their child’s wallet who can then spend the money through the app or through their own prepaid card. Parents no longer have to stress over tedious banking roadblocks. Monitoring their child’s spending habits was never this easy.


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    muvin – USP

    These are early days for teen-centric apps and they are in the first lap of a marathon. It is a new category and competition helps in both, creating and growing awareness about the product’s relevance and need amongst the key target user base. All the market players are addressing varied gap areas through their products, services and customer experience.

    muvin is the first pocket money app to offer a RuPay co-branded keychain targeted at India’s teens. The keychain presents the most convenient and secured contactless payment mode with a simple ‘tap and pay on-the-go’ feature. The contactless keychain can be used across all RuPay NFC enabled merchants for fast processing and seamless transaction experience each time.

    muvin also offers chat based banking on their website and whatsapp without the need of downloading the app. This allows customers to check their balance, view recent transactions, block their card etc.

    muvin – Business and Revenue Model

    There are no charges levied on customers for using the muvin services. muvin makes money from the interchange fees incurred by the merchant for card based transactions. Within the first six months of its product launch, muvin witnessed over 150,000 installs. Currently, the figures stand at approximately 50k app downloads every month.

    muvin – Customer Acquisition

    muvin’s journey started with the launch of its app and the ‘muvin card’ for teens in October 2021. In the same month, muvin onboarded Ace cricketer Hardik Pandya as their brand ambassador to propel its multi-channel marketing campaigns- a move which helped the brand to garner immediate attention and much-needed impetus from its target customers.

    Teens need validation and approval from their parents/guardians and since its inception, muvin is consistently engaging with the parent community. Parents need to be assured on the trust front. muvin’s partnership with industry prominent players like RuPay has also helped it to strike a trust-worthy chord with the parents. Imparting financial responsibility as a trait has to be a consistent and an on-going approach. Parents are appreciating the educative, short videos and blog format content for their children which muvin offers on its digital platform. The early adopters of the muvin app have played an important role in expanding its reach amongst newer adopters.

    muvin has adopted a multi-pronged approach in reaching out to potential customers. Developing a strong presence on social media has been key to building the muvin brand, as this is where Gen-Z spends a high percentage of their time. muvin is building itself out to be a young brand that teenagers can approach as an elder sibling or friend. They have also curated financial content in byte sized formats that is easy to understand and comprehend in under a minute. They have also partnered with multiple brands to serve their customers with offers and cashbacks relevant to their age group.

    muvin – Customer Retention Strategy

    To drive retention, muvin has partnered with multiple brands to serve their customers with offers and cashbacks relevant to their age group. They also run engaging contests and offers on the app which are refreshed on a weekly basis to keep their customers and audience engaged consistently. Through their insights led customer engagement platform and social media channels, they keep their users updated on the latest happenings on the app.

    muvin – Challenges Faced

    Neobanks and teen-centric pocket money apps like muvin have carved a niche category to address crucial consumer pain points which had not been addressed before. They have consistently channelised their energies to get their key consumer audience to shift from cash to digital transactions- which still continues to be a challenging affair.

    Players like muvin get to interact with their customers digitally only which makes trust building especially amongst digital-savvy parents, a tedious and slower process. This requires utmost transparency and in this regard, muvin’s partnership with RuPay has helped them tremendously.


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    muvin – Funding

    Date Stage Amount Investors
    January 2022 Pre-Series A $3 Mn Alteria Capital and Krishna Bhupal, Co-Founder, Rational Pricing Technologies and board member of GVK Power & Infra
    April 2021 Seed $1.5 Mn HNI’s Krishnakumar Natarajan (Managing Partner, Mela Ventures), Ambar Maheshwari (CEO, IndiaBulls Asset Management), Gani Subramaniam (Partner, WRVI), Shajikumar Devakar (Executive Director, IIFL Asset Management Limited), Sandeep Jethwani, and others

    Earlier in January 2022, muvin raised USD 3 million in a pre-Series A round which was led by WaterBridge Ventures, with participation from India’s largest Venture Debt fund Alteria Capital and Krishna Bhupal, Co-Founder, Rational Pricing Technologies and board member of GVK Power & Infra.

    Prior to that in April 2021, muvin raised a seed round of $1.5+ million from HNI’s Krishnakumar Natarajan (Managing Partner, Mela Ventures), Ambar Maheshwari (CEO, IndiaBulls Asset Management), Gani Subramaniam (Partner, WRVI), Shajikumar Devakar (Executive Director, IIFL Asset Management Limited), Sandeep Jethwani, and other prolific angel investors from the financial services industry.

    muvin – Growth

    muvin’s platform caters to India’s teens spread across leading cities in India. The brand is gearing towards engaging with one million registered users in the next 12 months. Its ambition is to enable 100 million financially literate students in the next 10 years- prepare them to confidently make the right financial choices by the age of 25 years.

    With regular communication and feedback from their early adopters, muvin team plans to steadily enhance its product and introduce new features over the next two-three quarters that will substantially upgrade their users’ experience. To achieve additional scale, muvin is open to raising an additional round of funding towards the later half of this year.

    FAQs

    When was muvin founded?

    muvin was founded in 2020.

    Who is the founder of muvin?

    Mukund Rao and Vineet Gupta are the founders of muvin.

    Has muvin raised funding?

    Yes, muvin has raised a funding of $4.5 million.

    Is muvin app available on Google Play store?

    Yes, muvin app is available on the Google play store and Apple app store.

    Who is the brand ambassador of muvin?

    Hardik Pandya is the brand ambassador of muvin.