Right Start
Iden fying the Role and Importance of Tech Startups in the Evolving Indian Economy
Core Strengths
Comprehending the Characteris cs of Impac ul and Successful Tech Startups and their Internal Ecosystem
“Our chief want is someone who will inspire us to be what
– Ralph Waldo Emerson, essayist, poet and we know we could be.“
Gaurav PR Wankhade Managing Editor
gaurav wankhade@insightssuccess com
Inrecentyears,Indiahasemergedasahotbedfor
technologicalinnovationandentrepreneurship,giving risetoavibrantecosystemoftechstartups.TheIndian startuplandscapecontinuestowitnessremarkablegrowth andtransformation,withseveralcompaniesstandingoutas thefastest-growingtechstartupsinthecountry
India’stechstartupecosystemhasexperiencedexponential growth,fuelledbyincreasingaccesstotechnology,alarge poolofskilledtalent,favourablegovernmentpolicies,anda burgeoningconsumermarket.Thesestartupsaredisrupting traditionalindustries,revolutionizingbusinessmodels,and creatinginnovativesolutionsthatcatertotheevolving needsofbothIndianandglobalmarkets.
In2023,startupsinIndiaareleveragingcutting-edge technologies,suchasartificialintelligence,blockchain, cloudcomputing,anddataanalytics,todrivedigital transformationacrossvarioussectors.Thesestartupsare addressinglocalchallengesandexpandingtheirfootprint globally,gainingrecognitionandattractingsubstantial investmentsfromdomesticandinternationalinvestors.
Frome-commerceandfintechtoneo-bankanddigital solutions,thesestartupsaresignificantlyimpactingtheir respectiveindustries.Theyareredefiningcustomer experiences,enhancingoperationalefficiencies,and introducingdisruptiveinnovationsreshapingtheIndian businesslandscape.
Moreover,thesestartupsarefosteringacultureofentrepreneurshipandinnovation,inspiringanewgenerationof aspiringfoundersandcreatingjobopportunitiesforIndia’s
talentedworkforce.Theyalsoactivelyparticipateinsocial impactinitiatives,addressingcriticalsocietalissuesand drivingpositivechangeinhealthcare,education, sustainability,andfinancialinclusion.
WhiletheIndianstartupecosystemcontinuestoevolve,itis importanttorecognizeandcelebratethefastest-growing techstartupspropellingthistransformation.Byunderstandingtheirsuccessstories,innovativesolutions,andentrepreneurialspirit,wegaininsightsintothedynamicnatureof India’stechstartuplandscapeandtheimmensepotentialit holdsforthefuture.
Thisexclusiveeditionof Insights Success,titled‘The FastestGrowingTechStartupsofIndia–2023,’explores thedynamicandrapidlyevolvinglandscapeofIndia’stech startupscene,highlightingsomeofthemostpromisingand influentialstartupsmakingwavesin2023.
Inthefollowingpages,wedelvedeeperintosomeofthe fastest-growingtechstartupsinIndia,exploringtheir uniquevaluepropositions,marketstrategies,andtheimpact theyaremakingintheirrespectiveindustries.Alsoincluded aretwotrendyarticlesforwideningyourperspective. Read on and enjoy!
The Fastest Growing Unicorn Transforming an Industry by Building Revolutions
Right Start
Iden fying the Role and Importance of Tech Startups in the Evolving Indian Economy
Core Strengths
Comprehending the Characteris cs of Impac ul and Successful Tech Startups and their Internal Ecosystem
Fostering Digital Business Acceleration by Thinking Automation
Empowering Micro Enterprises’ Economic Transformation
20
Jai Kisan
India’s First Rural Focused Neo Bank with One Stop Bharat Khata Digital Solution
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Editor-in-Chief Pooja M. Bansal
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AutoFlow TechnologiesPvtLtd
AyeFinance
GauravHargude, FounderandCEO andMayurParve,CTO
TejamoyGhosh, VPofHeadofData ScienceandArtificial Intelligence
Infra.Market
JaiKisan
SatyaKaliki, CTO
ArjunAhluwalia, Co-founder and CEO andAdriel Maniego, Co-founder and COO
AutoFlowTechnologiesisaleadingSoftwareproviderofprocess automationservicestohighlyimpactingorganizations.
AyeFinance(akaayefin)isafintechorganizationwithaimto empowertheeconomictransformationofmicroenterprises.
InfraMarketisaone-stopconstructionsolutionscompanywitha visionofcreatingIndia’slargestmulti-productconstruction materialsbrand.
JaiKisanisarural-focusedNeoBankwhoseapplication–Bharat Khata,providesaone-stopsolutionforruralbusinessesand individuals’financialneedsstartingwithbest-suitedcreditproducts.
The Fastest Growing Unicorn Transforming an Industry by Building Revolutions
,With a strong focus on infrastructure, Infra.Market (currently valued at $2.5 billion) is targeting a massive $140 billion construction materials market.
Theconstructionindustry,oneoftheoldestsectors
everexisted,remainedverystubborntochange, whicheventhewisestofthewiseacceptistheonly constant.Incontrast,theworldoutsideitsboundaries shifteditscourseswiftlybyusingeveryadvancing technology,andconstructionandrealestatespaceevolved atapuzzlinglylowpace.
However,twoentrepreneuriallyrestlessmindswanted nothingbuttocreatedisruptioninthissleepingbehemoth peggedatover$200billion.TheyconceivedInfra.Market, whichwasthusfardeemedunthinkable. Aaditya Sharda and Souvik Sengupta,the Co-founders,askedthemselves, whywon’tthefossilizedlabyrinthchange?Forgetevolution.Theyknewwhattheindustryneededwasnoteven revolutionbutacompanylike Infra.Market thatcan keep…
SatyaKaliki,theCTO,insiststhatInfra.Marketis committedtobuildingrevolutions,“and we are now one of the fastest-growing unicorns in this otherwise opaque construction industry.”
Withareported₹6,236croresinrevenueforFY22,which wasa5xgrowthoverthepreviousyear,theirbusiness, whichhasbeenprofitablesinceitsinceptionin2016,offers arangeofconstructionmaterialsandinteriorlifestyle productstomakespacesbeautifulanddurable.
Withastrongfocusoninfrastructure,Infra.Market (currentlyvaluedat$2.5billion)istargetingamassive $140billionconstructionmaterialsmarket.Accordingto Satya,theyalsocatertoSMEs,smallcontractors,and vendors,representingasizeableportionoftheretailmarket. Theirretailandprivatelabelbrandshaveimproved margins,enablingthemtogobeyonddistributionoptions anddifferentiatethemselvesfromotherplatforms.They undertaketech-enabledmanufacturing,haveapresencein theretailspaceandaredelightedtobeoneofIndia’smulticategoryproductbrands.“This is a testimony to our efforts to establish a strong construction-tech ecosystem,”headds.
Infra.Marketcontinuouslystrivestooffersolutionsinthe constructionspacethroughthesmartuseoftechnologyand anecosystemofmanufacturers,dealers,andarchitects.The firmrecentlyacquiredaHyderabad-basedconstruction equipmentrentalplayer,EquiphuntandthelargestIndian
independentready-mixconcreteplayer,RDCConcrete.It alsoboughtastakeinShalimarPaints,alistedIndianpaint company Thecompany’sbusinessexpansionhasbeen facilitatedbyitspursuitofinorganicacquisitions,whichthe team,includingSatya,believehasbeencrucialintheir growthtrajectory Theyaretheonlyconstructionsolutions companywithanISO-certifiedworld-classR&Dcentre. “Customer satisfaction is paramount to us, and we aim to provide access to a wide range of products under a single roof that simplifies business,”hestates.
TheirofferingsacrossIndiaandabroadhavehelpedthem enabledevelopmentintheIndianconstructiontechnology market.
PriortoInfra.MarketSatyahasovertwodecadesof experiencebuildinglarge-scaleTechnologyTeamsand deliveringWorld-ClassSoftwareProductsacrossmultiple continents.HisroleatInfra.Marketgiveshimaunique opportunitytocreatehistoryandcontributetoIndia’s growth.SatyaleadstheProductandTechnologystrategy andexecution,CustomerExperienceandCustomerService functions.
Overthelastthreeyears,theyhavedigitisedtheworkflows ofSales,Risk,Operations,Fulfilment,Procurementand FinanceteamsacrosstheirB2BandRetaildivisions.“My next goal is to provide an unmatched tech experience to our customers,”saysSatya.
Furthersharinghisinspirationbehindventuringintothe business,hesaystheconstructionindustryisoneofthe
,Customer satisfaction is paramount to us, and we aim to provide access to a wide range of products under a single roof that simplifies business. ,
oldestandmostcrucialpartsofanycountry'sgrowthstory. Thisindustryhasnotbeendisruptedbytechnology, comparedtootherslikeFashion,ElectronicsRetail(Ecommerce),orPayments(Fintech).Itistrulyaonce-in-alifetimeopportunitytocreateanindustry-wideecosystem impactthroughtechnologyandtransformation.Ithasthe potentialtochangelives(forthebetter)acrossthespectrum ofthesupplychainbybringingtransparencyandconvenienceandpositivelydrivingtheoverallexperience.
Alsohighlightingtheprofessionalqualitiesandvalueshe thinkshisclientsadmireinhimthemost,Satyasaysthat beingaserialentrepreneurintechnologyforseveralyears hasmotivatedhimtolearnandgrowdaily Withtechnology comesinnovation,andtheirreceptiveapproachtowards freshperspectiveshasgiventhemanedgeoverotherssince theirteamsarealwayslookingfororiginalityandunique ideas.Askeepingtheirpromisespaysdividendseventually, transparencyandintegrityaretwomorecrucialtraitsthey believetheirclientsadmirethemfor.Satyahimselfenjoys identifyingandsolvingcomplexbusinessproblems, thereforeencouraginghisclientstogrowwithteam Infra.Market.Theteambelievesinnurturinglong-lasting relationshipsratherthanmaintainingthetypically transactionalclient-vendoragreements.“This, I feel, is something clients admire the most,”hesays.
Beinganexperiencedleader,sharinghisopiniononhow adoptingmoderntechnologieslikeAIandMLimpactsthe startupspaceandhowInfra.Marketisadaptingtothe change,Satyasaystechnologyhasmadeitswayintoevery sector,andthegovernmenthasalsoembracedtechnology withtheDigitalIndiainitiative.
Infra.Markethasbroughttechnologythroughleadershipin thisopaqueandtraditionalsectorastheystronglybelieve thatinfrastructurecanmakeorbreakthefutureofthe nation.Byincorporatingtechnologyintotheirsupplychain, theycouldpredictcapacityutilisationandallocatedemand. Fortheirusers,theyarecomprehensivelybuildingtechnical solutionsusingthecloud,dataanalytics,MachineLearning/ Artificialintelligence(AI),AugmentedReality(AR),and VirtualReality(VR).
Infra.Market’sRetailerappenableseaseofmanagementfor purchasing,financing,inventorymanagement,delivery,and otherareasunderoneroof.Further,theVRandARtechat itsstoreshelpstoreimaginehomeinteriors.Theorgalso providesanintegratedplatformforfreelancersand
influencerstohaveanalternativesourceofincomethrough Infra.Market.Satyaadds,“Weusenativeframeworksbased onmicro-servicesarchitecture,GolangandPython,and PostgreSQL,anopen-sourcerelationaldatabasemanagementsystem,tocreateapplicationsthatleveragecloud infrastructureofAWS,Google,andMicrosoftAzure.”It hasbuiltadigitalecosystemforitsIndianmarketsto enhancedeliverybyprovidingintelligentandactionable insightsthatupdatepartnersinreal-time.
Whenprobedaboutconsideringthecurrentindustry scenario,whatkindofchallengestheyface,andhowthey drivetheirfirmtoovercometheseobstacles,Satyashares, Digitalisthefuture.Whiletechnologyhascapturedseveral industries,theinitialadoptionwasachallenge.Takeecommerce,forinstance,theecosystemwasinplace,andthe customerwasmoreacceptingofit.However,theconstructionindustrycontinuestobefragmented.Therefore,thereis roomforconsolidation,platformdevelopment,andoneclickdeliveryofend-to-endsolutions.Thistraditional industryisexpectedtoadapttothecurrentneedsandcreate adigitalisedfuturethroughtransformation.Thereisalong roadaheadformassivetechnologyadoptioninthisspace; nonetheless,theyareoptimisticaboutthefuture.Andthey areworkingtowardsprovidingsignificantopportunities throughtechnologiesthatwillleadtonewefficienciesand outcomes.
AccordingtoSatya,thetechstart-upecosystemiscrucial today,andsignificantadvancementscanbeexpectedinthe future.ItisamatterofpridethatIndiahasaboomingtech start-upecosystem,akeydriverforsocialandeconomic growthinthecountry Therearereportsthattheindustry sawover13,000additionsin2022alone.Withtechnology providingumpteenopportunities,Infra.Marketisoptimistic aboutthefutureoftheindustry
“Whenwelookatourtraditionalbrick-and-mortarstores, technologyhasabrilliantpotentialtostreamlineoperations andbringmoretransparencyandefficiency WecanseeVR andARpickingupmoresteamovertheyears.Another excitingtrendwecanexpecttoseeisAI-enableddrones thatcanprovidehigh-qualityandreal-timeaerialimagery. While3Dprintinghasbeenaroundforawhile,the constructiontechnologyindustrycouldseegreateradoption ofthistrend.Inanever-evolvingworld,weareexcitedto seewhatlatesttrendscomeandbenefittheindustryat large.”
,Infra.Market’s Retailer app enables ease of management for purchasing, financing, inventory management, delivery, and other areas under one roof.
,We have already signed up 35 franchise stores across Maharashtra, Karnataka and Telangana and have plans to expand our retail store network to 100 stores by March 2024.
,Inhisadvicetobuddingentrepreneursaspiringtoventure intothetechstart-upspace,Satyasaystheentrepreneurial journeyissuperexciting;focusonbuildingagoodteam withcomplementaryskills,giveimportancetocultureand principlesrightfromtheinception,itishardertochangethe cultureofanorganisationatgrowthstage,developadeep appreciationfordomainexpertiseandencourageteamsto spendsignificanttimeinthefield,closertotheoperating environmentofyourusers.Don'tbespecificaboutusing onlythelatesttechnologyfads.Instead,choosethe technologythatismostsuitedtothebusinessproblemyou aresolving.
OnenvisioningscalingbrandInfra.Market’soperationsand offeringsinthefuture,herevealstheyhavesomepromising plansforscalingupandexpansion.Theirnewinitiatives, includingRetailDivisionandPrivateLabelbrands,show favourableresults.“Wehavealreadysignedup35franchise storesacrossMaharashtra,KarnatakaandTelanganaand haveplanstoexpandourretailstorenetworkto100stores byMarch2024.”
Thesestoreswillbearound10,000to15,000sq.ftinsize andhostproductsfromInfra.Market’sprivatebrandsalong withothers.“Wehavealsosetupmanufacturingplantsfor ready-mixconcrete(RMC)andAACblocksin Maharashtra.”
Asanew-agecompany,theyunderstandtheirresponsibility tocreateasustainablefutureforfuturegenerations.They plantoincreasetheireffortsontheresearchanddevelopmentsideforgreenconstructionproductsandbuild technologyaroundthem.Theirprimarygoalremainsto bringtransparency,quality,andefficiencyintheir endeavoursandcreatevaluefortheirstakeholders.
Satyaaddstheyareproudtohavecontributedtokey projectsacrossIndia,namelyChennaiMetro,KochiMetro, KempegowdaAirport,NaviMumbaiAirport,Mumbai Metro,NHAIprojects,Delhi-MeerutRRTS,DelhiMetro, andAdaniLNGTerminal,tonameafew.
Infra.Markethasbeenaproudrecipientofkeyawardsover thelastfewyears,suchasB2BStartupoftheYearby EntrepreneurIndia,ForbesTycoonoftheYear–2021, EmergingCompanyoftheYearbyConstructionWorld–2021,BusinessExcellenceAwardbyBNICEOConnect–2019,FastestGrowingSmallBusinessbySmallBusiness Awards–2018,amongothers.
ClientsTestimonials:
*Metallo&EngineeringEquipments–“We want to congratulate Infra.Market for their excellent commitment towards delivering lightweight concrete to us. Their entire process was smooth and well-planned. They really deserve to be appreciated.”
*ENSOGroup–“We would like to thank the entire team at Infra.Market for their exceptional service and timely delivery of the quality RMC they delivered to our project. We look forward to a long-term collaboration with them.”
Inrecentyears,Indiahasemergedasoneofthefastest-
growingeconomiesglobally,largelydrivenbytheriseof itsvibranttechnologystartupecosystem.Techstartups haveplayedapivotalroleintransformingvarioussectorsof theIndianeconomy,contributingtoinnovation,employment generation,andattractingsignificantinvestments.
TheroleandimportanceoftechstartupsinIndia'sevolving economycannotbeoverstated.Thesestartupshavedriven innovation,generatedemployment,attractedinvestments, enableddigitaltransformation,andaddressedsocialchallenges.
Recognizingtheirsignificance,thegovernmenthasintroduced severalinitiativesandpoliciestosupportandnurturethe startupecosystem.Withcontinuedsupport,techstartupshave thepotentialtopropelIndia'seconomicgrowth,foster entrepreneurship,andpositionthecountryasaglobalhubfor technologyandinnovation. This article sheds light on the role and importance of tech startups in India's evolving economy
TechstartupsinIndiahavebeenattheforefrontofdriving innovationanddisruptingtraditionalindustries.Theyhave leveragedemergingtechnologiessuchasartificialintelligence (AI),machinelearning(ML),blockchain,andtheInternetof Things(IoT)tointroducenovelsolutionstolong-standing challenges.Thesestartupshavetransformedsectorslikeecommerce,fintech,healthcare,education,logistics,and agriculture,amongothers,byintroducingdisruptivebusiness modelsandimprovingefficiency.
Techstartupshaveemergedassignificantcontributorsto employmentgenerationinIndia.Withagrowingnumberof entrepreneursandstartups,therehasbeenanincreasing demandforskilledprofessionalsintechnology,design, marketing,andoperations.Startupshavecreatedthousandsof directandindirectjobopportunities,attractingtalented individualsandfosteringacultureofentrepreneurship. Additionally,manystartupsinvestintrainingprograms, contributingtoskilldevelopmentandbridgingthetalentgap inemergingtechnologies.
Thesuccessandgrowthoftechstartupshaveprofoundly impactedIndia'seconomiclandscape.Thesestartupshave contributedsignificantlytothecountry'sGDPgrowth,driving innovation-ledproductivitygains.
17 | May, 2023 | www.insightssuccess.in
Moreover,theirpotentialforexponentialgrowthhas attractedsubstantialforeigninvestments,promotingcapital inflowsintotheIndianeconomy Venturecapitalfirms, angelinvestors,andmultinationalcorporationsare increasinglyrecognizingthevastpotentialofIndian startups,leadingtoincreasedfundingopportunitiesand strategicpartnerships.
Indiaiswitnessingarapiddigitaltransformationacross varioussectors,andtechstartupshaveplayedacrucialrole inenablingthistransition.Startupshavedevelopeddigital platforms,mobileapplications,andsoftwaresolutionsthat haverevolutionizedhowbusinessesandconsumersinteract. Theyhaveintroducedconvenientandaccessibleservices, suchasonlinemarketplaces,digitalpaymentsystems,and e-learningplatforms,empoweringindividualsandsmall businessestoparticipateinthedigitaleconomy
TechstartupsinIndiahavealsofocusedonaddressing socialchallengesthroughinnovativesolutions.From healthcareaccessibilitytoeducationaffordabilityand sustainableagriculturepractices,startupshaveworked towardscreatingpositivesocialimpact.Theyhave developedlow-costhealthcaresolutions,EdTechplatforms forremotelearning,andAgrotechsolutionstoenhance productivityandreducewastage.Byaddressingthese challenges,startupscontributetotheoverallwelfareof societyandalignwiththegovernment'smissionof inclusivegrowth.
Empowering
Techstartupshaveplayedacrucialroleinempowering smallandmediumenterprises(SMEs)inIndia.Through theirinnovativesolutionsanddigitalplatforms,startups haveenabledSMEstodigitizetheiroperations,streamline processes,reachawidercustomerbase,andcompete effectivelyinthemarket.Thishasledtothegrowthand expansionofSMEs,contributingtoeconomicdevelopment andjobcreation.
CatalyzingEntrepreneurshipandaStartupCulture:
ThesuccessstoriesofIndiantechstartupshaveinspireda newwaveofentrepreneurshipandfosteredastartupculture inthecountry Thesestartupshavebecomerolemodelsfor aspiringentrepreneurs,encouragingthemtotakerisks, pursuetheirideas,andbuildtheirventures.Thiscultural shifthasresultedinavibrantecosystemofstartups,witha steadyflowofnewinnovativeideasandventures.
18 | June, 2023 | www.insightssuccess.in 18 | May, 2023 | www.insightssuccess.in
TechstartupsinIndiahavenotonlyfocusedonthe domesticmarketbuthavealsoexpandedtheirreach globally.Bydevelopingcutting-edgetechnologies,software products,andservices,Indianstartupshavegained recognitionininternationalmarkets.Theirglobalsuccess hasboostedIndia'sexportpotentialandpositionedthe countryasacompetitiveplayerintheglobaltechnology landscape.
TechstartupsinIndiahaveactivelycollaboratedwith academicinstitutions,researchorganizations,andgovernmentbodiestocreateasupportiveecosystem.Startup incubators,accelerators,andco-workingspaceshave emerged,providinganurturingenvironmentforstartupsto grow,exchangeknowledge,andaccessresources.These collaborationshavefurtherstrengthenedthestartup ecosystem,encouraginginnovationandfosteringasenseof community.
India,beingavastanddiversecountry,facesnumerous infrastructuralchallenges.Techstartupshaveaddressed thesechallengesbydevelopingsolutionsinareaslike transportation,energy,wastemanagement,andsmartcities. Startupshaveintroducedinnovativetechnologiesand businessmodelsthatoptimizeresourceutilization,improve connectivity,andenhancethequalityoflifeforcitizens.
Techstartupshaveactivelypromotedgenderdiversityand inclusionwithintheentrepreneurialecosystem.Many initiativesandsupportprogramshavebeenlaunchedto encouragewomenentrepreneursandprovidethemwiththe necessaryresourcesandmentorship.Thisfocuson inclusivitybenefitswomenandcontributestoamore diverseandrobuststartupecosystem.
Techstartupsplayacrucialroleinfuture-proofingthe Indianeconomybyharnessingemergingtechnologiesand drivingdigitaltransformation.Theyarepavingthewayfor IndiatobecomeagloballeaderinAI,cybersecurity, blockchain,andcleanenergy Thesetechnologieshavethe potentialtorevolutionizeindustries,createnewjob opportunities,andpositionIndiaattheforefrontofglobal innovation.
What kind of technology company would you like
to partner with to solve all your technical and technological issues?Letmeguess.Youwant someonewhocancomprehendyourbusiness’sspecialized demandsandsolutionsthatsimplifyyourutterlycomplex processes,andthetechnologicaltransformationmustbe timely,affordable,feasible,andwillbeupgradedasyour businessgrowanddevelop.
“We’re AutoFlow Technologies – the most reliable global technology solution partners, delivering digital business acceleration with open scalable and modular solutions,” saysMrGauravHargude,theFounderandCEO.He furthersthatAutoFlowbelievesinworkinginpartnership withclientstounderstandtheiruniqueneeds.Theirdeeper technicalexpertiseallowsthemtosuccessfullydeliver projectsoftenperceivedastoocomplex.Headds,“We ensure that customer investments in technology are carry forwarded to new solutions if found feasible.”
Healsofirmlyfeelsthatacompanyisnotasuccessofan individual;it'sthesuccessoftheteam.Itisthesebeliefsand missiontoassisttheircustomers,employees,andpartners inovercomingawiderangeofconstraintsthattoday, AutoFlowTechisserving Fortune 500 companies like Mercedes-Benz, TATA, Edelweiss, Tech Mahindra and over80otherswithover650successfulprojects,six outstandingproducts,andthreelocationsworldwide.
“We innovate technical solutions to help our customers make distinctive improvements,”insistsGaurav,whose journeyofAutoFlowTechwasstartedin2016alongwith thePassionateTechevangelistandIndustryveteran,Ajit. Asadisruptiveinnovator,Gaurav'sstrengthslieinidentifyingandinvestinginnext-generationtechnologies.Gaurav hasextensiveexperiencebuildinganddeliveringDigital
Transformation,BIandAIRoadMapsforSMEstoFortune 500Companies.Ontheotherhand,Ajitisatechnocratwith deepinsightsintoAutomation,MachineLearning,and ArtificialIntelligence.
Ajithassubstantialexperience(18+yrsintheUS,10+Yrs. India)workingforFortune500companies.Inhisearly career,heheadedaprecisionautopartmanufacturing company,whichwaslatersuccessfullysoldtoaSwiss conglomeratefor₹800Cr Whenthereispassionbackedby decadesofexperience,thenthereisassuredsuccessinthe future.Andthat'swhathappened;injusttwoyears, AutoFlowTechnologieshasgainedmuchrecognitionfrom itsclientsandcustomers.Now,itwastimetoshiftgears andbuildastrongTechnologybackboneforthecompany.
In2018, Mayur joinedtheteamastheChiefTechnology Officer(CTO),addingonemorefeathertothecrown. Underhisleadership,AutoFlowTechbecameaninternationallyrecognizedProductEngineeringandTechnology ServicesCompany.Mayurisresponsibleforbuildinga scalabletechnologystackforthecompanyandbettering operationalagility,riskmanagement,data,andanalytics whiledrivingstrategicefficiencyandimprovingoverall customeracquisition,experience,andbusinessgrowth. Mayur,alongwithhisteam,createdthemostimpactful enterpriseproduct,whichiscreatingabuzzinthemarket andthoseareadoptedaroundtheworld:
• GovernanceFramework(CollaborationandProductivityenhancement)
• DigitizerPlatform(LowCodePlatform)
BeforejoiningAutoFlowTech,MayurwastheCTOand DirectoratBitMarvels,responsibleforbuildingEd-tech products.MayurPlayedacrucialroleinthesuccessofBit
Mr Gaurav Hargude, Founder and CEO
Mr Mayur Parve, CTO
Marvels.'CareerSarthi'start-upgotSelectedfor'Start-up India'andsuccessfullyhelped540+EducationalInstitutes.
At AutoFlow Technologies, we aim at building nextgenera on Secure and Scalable IT products and solu ons for our esteemed customers which helps resolve their real-world challenges.
InanexclusiveinterviewwithInsightsSuccess,Gaurav spokeaboutmanythings,thehighpointsofwhichare givenhereinforyourknowledge.
PleaseshareAutoFlowTech’sUSPs,makingitoneofthe bestsolutionproviders.
Drivenbyouraim-“AutoFlow Technologies is all about excellence, passion, and flexibility”-weconstantlycreate next-genSecureandScalableITproductsandsolutionsfor ouresteemedcustomers,helpingthemresolvetheirrealworldchallenges.Withadeeppassion,expertise,and proventrackrecordinAnalytics,Digitization,RPA, EnterpriseWeb,andMobility,wearesucceeding. Sinceitsinception,wehaveachievedtremendoussuccess bydevelopinganddeliveringinnovativeproducts,services, andsolutionsacrossvariousdomains.Subsequently,weare helpingthemostimpactfulcompaniestomaximizetheir dataoutcomesprovidinginsightstomakeinformed decisions.
Our key rule is-Deliversolutionstoouresteemedclients accordingtoourTSQ(Time,Scope,Quality)Methodology
Howdoesyourfirm’sofferingdistinguishitinthe competitivemarkets?
TheteamAutoFlowTechdonotletgooftheirconsultative approachtodesigninganddeliveringsolutions.Every productandsolutiondeliveredtocustomersisrecognized foritsquality,security,scalability,anduser-friendliness.
Thatmakesusstandoutinacrowd;duringashortertime span,wehavemadeasignificantpresenceinIndia,theUS, andtheUK.Sinceitsinceptionin2016,thetechfirmhas deliveredover650projectsandsixproductsto85+ofits clients.
Talkingabouttheworkculture,weareadistinguished organizationwithauniqueorganizationalenvironment.We stronglybelieveinfreedomandflexibilityintheworkplace andhaveestablishedthesameculturewithinourorganizationandworkplace.
Whatprofessionalqualitiesandvaluesdoyouthink yourclientsadmireinyouthemost?
Ourcustomerreferencesareourbiggestrecognition, enablingustostayaheadofthecompetition.Oursuccessful competitiveadvantageisthattheTechnologyteammakes oursalesandconsultationmoresolution-orientedthana salespitch.Thus,ourCommitment,Delivery,Diversity, Accountability,Quality,AgilityandExcellencearealways admiredbyourclients.
Asanexperiencedleader,shareyouropiniononhow adoptingmoderntechnologieslikeAIandMLimpacts thestartupspaceandhowyourcompanyadaptstothe change.
Answeringthisquestion,Mayursaysthatallproblemsupto apointwerediscussedandsolutionsfoundfortheseusing toolsthatwereavailabletillthatpoint.Thesetoolsincluded logic,industryframeworks,systemsliketheKanbanor analysistoolsliketheTheoryofConstraints.Withthe widespreaduseofAIandMLandthedevelopmentoffaster processors,allpermutationsandcombinationscanbe analyzed,andfuturisticalgorithmsarewrittenthatencompassallscenarios.Ithashelpedcompaniesinsettingrealworldsituationsintheirmodelling.Allforeseeable situationscanbeanalyzed.
Withthisasabackdrop,weatAutoFlowTechhavebeen driventoprovideourcustomerswithalloptionsintheir questforautomation.Wehavenotonlyassistedcustomers intheirAIandMLjourney,butwehavealsoworkedwith themonRPA.
Inthefuture,theuseofAIandMLwillgrowinall domains.Theunprecedentedgrowthinprocessingspeeds willenablemorecomplexalgorithmstobeprocessedthat dealwiththemostcomplexsituations.Forcompaniestobe competitiveinthefuture,theymustanalyzetheirbusiness modelsandensuretheyintroduceAIandMLtoremaincost competitive.
Consideringthecurrentindustryscenario,what challengesdoyouface,andhowdoyoudriveyourfirm toovercomethem?
Inthepresentscenario,whenITIndustryishighlyunstable, manyorganizationscutdownresources,leadingtomassive jobcuts.AtAutoFlowTechnology,weareextremelyproud tosayweareabsolutelystablewithourgrowth.Sincethe beginning,wehavealwaysfocusedonProductivityand Innovation;theyaretwosharpedgesofthesword.Itisour provenapproach,andithashelpedusalottoovercomeany challenges.Innovationsgenerateconstantdemandinthe market,andProductivityhelpsdeliverattherighttimeand place.Toconcludecrisply,InnovationandProductivity haveremainedourgoldenrule.
Howdoyouenvisionscalingyourbrand’soperations andofferingsinthefuture?
WehaveastrongpresenceintheEnterprisesegment,and weareenteringintotheMSMEmarketwithcompatibleand themostusefulproductsfortheMSMEsegment.This segmenthasastrongneedforinnovativebusinessenabler applications.Withouremergingvertical,AFT-MicroApps, wewilltargetthissegmentwithnicheofferings.Weare verygladtosaythat,withjustaninitiallaunch,weare receivingatremendousdemandforapplications.
Whatwouldyouadvisebuddingentrepreneursaspiring toventureintotechstart-ups?
Thesedays,“Start-up”isafancyterm;howeverthereare thousandsofstartupsthatfaileveryyearandonlyafew succeed.Therearenumerousreasonsforitanditisanother topicofdiscussion.Inthelast7years,wehavemade AutoFlowTechnologiessuccessfulandpopularwithinthe marketandhereIamsharingmyexperienceswithall aspiringentrepreneurs.
Thereisapseudo-beliefofFreedom,Flexibility,and Famewhenyoustartyourownbusiness.
WhileworkinginNine-to-Fivejobs,therearepredefined boundarieswithgoalsspecifiedbythehigherauthority;we doourbesttoachieveourgoals.Attheendoftheday,we succeed,orwelearn;thiscyclecontinuesforyearstillthe endofyourprofessionallife.
Remember,ourroleremainslimitedinthisentireprocessat theStrategicandTacticallevels.Wefollowthedirection thathasbeenalreadyset,wefollowthecareerprogression paththatisalreadyproven,wegrowinthespecificareathat isalreadyestablished,andwhiletakingthesesteps,we moveaheadwiththeassuranceoffinancialsecurity“Salary”.Theperspectiveofeveryoneisdifferentinthis journey,andthus,someofthemwanttogetridofthe Stagnancy,andthefirstthoughtthatpopsoutistostart something“Our Own.”
Staringupthebusinessisnotonlyabouthavingsharpskills andIdeas;themostimportantaspectsareFamilysupport, Couragetoleadinuncertainty,theAbilitytotakerisks, Self-motivation,andDiscipline.Thesearemorecrucial aspectstokeepmovingandgrowing.Atthestart,I mentionedpseudo-belief;yes,Ihaveseenit;duringmy conversationwithmanyaspirants,Icameacrosssuchbelief whereitisbelievedthatthereisfreedomandflexibility whenyourunyourbusiness,youearntremendousmoney, andyouarerich.
Letmetellyou,thereisnospaceforsuchassumptions.You workfordefinedhours;youknowwhatislyingnext.In reverse,whenyoustartyourbusiness,thereisNOguided path,thereareNOpredefinedactivities,thereisNO predefinedplanwithacceptableandnon-acceptabledelays, thereisNObackuporreplacement;itisONLYYOUwho needtosettheVision,defineStrategiesandGetitexecuted. Onlyyouneedtoplanforthefuture,foreseeandplanrisk mitigation,andkeepthewheelmovingtomaintaincash flowwithintheorganization.
Certainly,thiswillnothappenifyouarerestrictedtoa Nine-to-Fiveschedule.Toexecutetheseactivities,youmust Eat,BreatheandSleepyourbusiness,soforgetabout FreedomandFlexibility Youarealwaysboundtothese responsibilities.Comingtothesecondmisbelief,FAME, myquestionis,“Whatisfame?”gettingpublishedin articles,givingTed-talks,andappearinginmediainterviews?Remember,theseallarebyproductsofyourvision andjourney.Isthatwhatyoustartedthisjourneyfor?If
yes,thenIwouldsayyouaregoinginthewrongdirection. Asthereisafamousquote,“Loveyourjourney,notthe destination.”
Itisabsolutelyimportanttokeepmoving,andhere,youare notearningthisforyourselfbutforyourcompany,agroup ofpeoplewhotrustyourvision,ultimatelyitisyour responsibilitytogivethemfinancialsecurity,andtherefore youneedtokeepthemfirstandyourselflastwhenitcomes totheearning.Inyourstartupjourney,youwillencounter manychallengesinmaintainingthecashflow;insuch times,youcannotthinkaboutyourself;youhavetothink aboutyourcompanyandyourteam.Insomeunwanted situations,youwillleavewithnooptionbutnottotake yourSalaryformonthsbutinsteadkeepitreservedasa contingencyfund.Sucheventsareverycritical;definitely, youarealsoahumanbeingwhoseekssupport;exactly,that isthepointwhereyourfamilysupportcomesintothe picture.Theybecomeyourstrength.
Wordsarelimited;therefore,tokeepitshort,WhatIcan infer-
1)Startupisnotasilverspoon.
2)Notareliefwhenyouareheldcaptivewith9to6job.
3)Aplaceforanavidentrepreneurwhocansailthroughthe hardships,unclearpaths,risk-takingabilities,andthe zealtomakeitasuccess.
4)Agratifyingpathyetwithuncertainties.
Lastbutnotleast,alwaysrememberthatonlyyouwill inspiretheteam.Withoutasuccessfulteam,nothingwill work.
Inmyperspective,thesefactsmayseemstraightforward, butthereisanothersidetothejourneyofastartup.Despite thestrugglesandeffortsinvolved,thelevelofsatisfaction attainedisunparalleled.
Thegratificationthatarisesfrommakingasignificant impact,pursuingyourdreams,exploringboundless opportunities,thinkingoutsidethebox,andexperiencing thefreedomtoinnovateistrulyrewarding.Theseaspects contributetotheremarkablebeautyofembarkingona startupjourneywhenyouarefullypreparedand enthusiastic.
Tejamoy Ghosh VP of Head of
and Articial Intelligence
Technologyhasproventhatitcantransformby providinginnovativesolutionstopressingproblems likepoverty,inequality,andwidespreadfinancial inaccessibility.InthefieldofMicroEnterprisefinance,Aye Financeisbringingthattransformationbyputtingthe marvelofdigitalizationattheheartofMicroEnterprises’ EconomicTransformation.
Statingthecompany’snoblestmission,TejamoyGhosh, theVPofHeadofDataScienceandArtificialIntelligence,says,“It is to provide innovative, and customer centred financial services to micro and small businesses through a knowledgeable team, effective technology, and robust processes, to power their growth into new-age India.”
OurValuedLeadership
TejamoyisacreativeDataScienceandAIprofessionalwith 17+yearsofexperienceinthefield.
Hehasbeenworkingfor14+yearsinleadershiproles, currentlyheadingtheDataScienceandArtificialIntelligencedivisionatAyeFinance–afast-growingFinTech LendingInstitution.
Sharingtheircorevalues,hesays,theyare
*Innovation-Becurious.Explore.Pioneer
*Trustworthiness-Befair.Keeppromises.Begenuine.
*SocialImpact-Makeadifference.Giveback.Touch lives.
*Beingthebest-Learn.Mentor.Onwardstogether.
*CustomerCommitment-Thinkcustomer.Beproactive. Exceedexpectations.
TejamoydeliverednumerousDataScienceandAdvanced Analyticsprojectstomultipleclientsfromawidearrayof
domains(e.g.,Banking,Insurance,Retail,Telecom,etc.) acrossfunctionslikemarketing,CRM,andrisk.Hehas beenbuilding,mentoring,andincubatinghigh-calibre teamsinadvancedanalyticsanddatasciencecapability developmentwithinanorganization,whichareother criticalpartsofhisexpertiseandexperience.
HehasaMaster’sdegreeinEconomicsfromJawaharlal NehruUniversity,NewDelhi,andaBachelor’sinEconomicsfromPresidencyCollege,Calcutta.Hehasalsobeen trainedatVanderbiltUniversity,Nashville,TN,andthe UniversityofCincinnati,OH.
Tejamoy’s Specialties include:
InnovativeAI/ML,AnalyticSolutionDesignandExecution (acrossbusinessfunctionsandindustrydomainslike Banking,Insurance,Retail&eCommerce,Telecom, Manufacturing,andanyother)
Ÿ AI/MLproductconceptualizationanddevelopment.
Ÿ ThoughtLeadership,PeopleManagement,Project Management.
Ÿ Settingup,incubation,anddevelopingofhighcalibre DataScienceteamsfromscratch.
Ÿ MentoringnewlinesofDS/AI/MLprofessionals.
Tejamoysaystheyprovidesecuredandunsecuredsmall businessloansforworkingcapitalrequirements.Micro businessesinIndiahaveanunmetcreditneedofUSD Threebillion.“We are changing that, one loan at a time.”
Tejamoysays,“Weofferarangeoffinancialsolutions throughourextensivenetworkacrossIndia.”These
solutionsarepoweredbyinnovativeunderwriting,smart technology,anddeepanalytics.
Sharing their story of Inception, he says that it all began in, Summerof2013:Thesummerthatyearwasunusuallyhot. Whenthesmallteamoffoundermembersgottogether, therewassomethingburninginallofus.Wehadspentlong yearswithsomeofthefinestfinancialorganizations worldwide.Butweneededsomethingmore.Weneeded somethingmeaningful.
AGovernmentofIndiareporttalkedabout₹25lakhcrore creditdeficitintheMSMEindustry.Micro,Small,and MediumEnterpriseswereSixcroreinnumberand employed11crorepeople.Themicro-segmentamongthese wasthemostdisadvantagedwhenitcametoaccessing formalcredit.ItwascleartousthatIndia’sgrowthwould notbecompletewithouttheadvancementofthissector.
,weknewwhatwewanted todo.IndianmonsoonswerelashingtheplainsinNorth India.Dustyplainssuddenlybecamecoveredwithverdant greenshoots.“Our dream was slowly taking shape –exhilarating just like the petrichor.
Our business plan was far from complete, but our vision was clear – We wanted to be the most admired among finance businesses catering to micro businesses in India. We continue to abide by the core values followed soon after –Innovation, Trustworthiness, Being the best, Social Good, and Customer Commitment.”
Thus,Ayewasborn.Ayemeans‘Yes’inEnglishand ‘Money’inHindi."Aptforwhatwewantedtodo–sayyes tomicro-enterprisesaspirationsbyprovidingthemwith capital.”
Headds,“As we started work, enthusiasm in the team was contagious. We knew we had mountains to move, but that did not deter anyone. The initial capital for the company came from friends and angel investors. By the end of 2013, we bought an NBFC to start lending. But we had another
We offer a range of nancial solutions through our extensive network across India.
“ “ “ “
challenge to surmount. It was not easy to assess the businesses we wanted to lend to.”Theywereneitheron creditbureausnorhadanyformalfinancialdocuments. Innovationwasnotanoptionbutanecessity.
Inearly2014,theAyeteamstudiedthreemicro-enterprise clustersspreadacrossafewcities.Thiswasthebeginning oftheiruniquecluster-basedunderwritingmodel,which eventodayisthebedrockofwhattheydo.InMarch2014, theirfirstloanwasgiventoaladies'shoemanufacturer, whoemployedsixworkersandmade200pairsofshoes weekly.Inthenextsixmonths,theydisbursedaround200 loansthroughtwobranchesinDelhi.
In2015theyreceivedfundingfromElevationcapitaland Accion.By2017,thesmallteamhadgrowntoafamilyof over1000people.In2019theywereincludedinthe SystemicallyImportantNBFCslistoftheReserveBankof India.
Todaytheyhavebranchesspreadacross20statesinIndia. Theyworkwithabout150clustersacrossthecountry.Each hasdifferentbusinessmodels,cashflows,andmarkets. Theyhavelenttoover420,000customers.Theyhave thousandsofemployeeshelpingthesecustomerspursue theirdreams.Investorsbackingtheyaresomeofthebestin theworld.Theyhavebeenontheleaderboardwhenit comestocustomersatisfactionscores(NPS)andemployee satisfactionscores(GPTW).
Tejamoysaysthatwhiletheylookbackattheirjourney withpride,theyremainhumbleandgrateful.Theyknow thattheirjourneyisfarfromover Theywouldliketo remainasmallcompanyatheart.“Eager, ever learning, close to our customers, nimble and relevant. We want to be known for what we achieve and how we achieve it too.
We will not lose sight of what we set out to be – the most admired microenterprise lender Aye to that,”hesays.
Finally,ontheendingnote,Tejamoysays,“It is always exciting to be recognized for our work and, more importantly, for how we do things. We are deeply grateful and honoured to have received these awards. Each one of them inspires us to be the best in what we do.”
Ÿ 2ndBestCompanyToWorkForInIndia-GPTW InstitutebyTheEconomicTimes.
Ÿ BestBFSIToWorkForInIndia-GPTWInstitute.
2021
Ÿ 9thBestPlaceToWorkInAsia-GPTWInstitute.
Ÿ 4thBestCompanyToWorkForInIndia-GPTW Institute.
Ÿ SMEFinancierOfTheYear–Asia(Gold)BySME FinanceForum.
Ÿ TheBusinessTransformationAwardbyMintand Techcircle.
Ÿ DNA-DistinguishedNBFCAwardbyBankingFrontiers.
Ÿ BestBFSIToWorkForInIndia-GPTWInstitute.
Andmanymorebefore.Toseethemall,pleaseclickonthe link-https://ayefin.com/accolades/
Techstartupshavebecomeadrivingforceinthe
globaleconomy,withmanyrevolutionizing industriesandcreatinglastingimpacts.Behindthe successofthesestartupsliesauniquecombinationof characteristicsandawell-craftedinternalecosystem.
Thecharacteristicsandinternalecosystemofimpactfuland successfultechstartupsareintegraltotheirgrowth, innovation,andlastingimpact.Visionaryleadership, innovation,customer-centricity,agility,strongtalent,access tocapital,andsocialresponsibilitycollectivelycontribute totheirsuccess.Thisarticleaimstodelveintothekey characteristicsthatdefineimpactfulandsuccessfultech startupsandexplorethecomponentsoftheirinternal ecosystem.
Impactfulandsuccessfultechstartupsareoftenledby visionaryfounderswithaclearandcompellingvisionfor theircompany.Theseleadersdeeplyunderstandmarket trends,customerneeds,andtechnologicaladvancements. Theyinspiretheirteamsandstakeholderswithpassion, drive,andabilitytonavigateuncertainties.Visionary leadersprovidestrategicdirectionandmakeinformed decisionstosteertheirstartupstowardslong-termsuccess.
Techstartupsthatmakeasignificantimpactarecharacterizedbytheircommitmenttoinnovationandadisruptive mindset.Theyconstantlyseektochallengethestatusquo andbringfreshperspectivestoexistingproblems.These startupsfocusoncreatingnovelsolutions,leveraging emergingtechnologies,andexploringuntappedmarket opportunities.Byembracingacultureofinnovation,they positionthemselvesasgame-changerswithintheirindustries.
Successfultechstartupsunderstandtheimportanceofbeing agileandadaptableinarapidlyevolvingbusinesslandscape.Theyquicklyidentifymarketshifts,consumer preferences,andtechnologicaladvancements.These startupscanpivottheirstrategiesandbusinessmodelsto stayrelevantandcapitalizeonemergingopportunities. Agilityandadaptabilityenablestartupstonavigate challenges,stayaheadofthecompetition,andmaintain sustainedgrowth.
Techstartupsthatmakealastingimpactprioritizetheir customersandadoptacustomer-centricapproach.They deeplyunderstandtheirtargetaudienceandpainpointsand strivetoprovideexceptionaluserexperiences.These startupsactivelyseekcustomerfeedback,iterateontheir productsorservices,andcontinuouslyenhancetheir offerings.Theybuildtrust,loyalty,andastronguserbase byplacingthecustomeratthecentreoftheiroperations.
Theinternalecosystemofimpactfultechstartupsthriveson afoundationofstrongtalentandavibrantculture.These startupsattractandretaintop-notchtalentthatalignswith theirmission,values,andgoals.Theycreateanenvironmentthatfosterscreativity,collaboration,andcontinuous learning.Byencouragingautonomyandownershipand providinggrowthopportunities,startupsempowertheir employeestoperformattheirbestandcontributetothe company'ssuccess.
Successfultechstartupsunderstandthesignificanceof accesstocapitalandstrategicpartnerships.Theyactively seekfundingfromangelinvestors,venturecapitalists,and othersourcestofueltheirgrowthandinnovation.These startupsleveragetheirnetworksandbuildstrategic partnershipswithindustryleaders,academicinstitutions, andresearchorganizations.Accesstocapitalandstrategic alliancesprovidestartupswithresources,expertise,and marketaccess,propellingtheirgrowthtrajectory
Impactfultechstartupspossessscalabilityandthepotential toaddressglobalmarkets.Theydevelopproductsor servicesthatcanbescaledrapidlytoreachawideaudience andcatertodiversemarkets.Byleveragingtechnology, automation,andscalablebusinessmodels,thesestartups cangrowexponentiallyandexpandtheirfootprintbeyond borders.Theyclearlyunderstandmarketdemandandtailor theirofferingstomeettheneedsofglobalcustomers.
Inadditiontotheirbusinessobjectives,impactfultech startupsembracesocialandenvironmentalresponsibility Theyintegratesustainablepracticesandethicalstandards andcontributetosocialcauses.Thesestartupsprioritize environmentalsustainability,diversityandinclusionand engageinphilanthropicinitiatives.Bydemonstratinga commitmenttosocialandenvironmentalresponsibility, startupspositivelyimpactsocietyandbuildastrongbrand reputation.
Successfultechstartupsprioritizeacultureofcontinuous learningandadaptation.Theyencouragetheirteamsto acquirenewskills,stayupdatedwithindustrytrends,and embraceagrowthmindset.Thesestartupspromoteaculture ofexperimentation,allowingforiterativedevelopmentand quickiterationbasedonuserfeedback.Byfosteringa learning-orientedenvironment,startupscanstayaheadof thecurveandadapttochangingmarketdynamics.
Impactfultechstartupsplaceastrongemphasisondatadrivendecision-making.Theycollectandanalyzerelevant datatogaininsightsintocustomerbehaviour,market trends,andoperationalperformance.Thisdata-driven approachenablesstartupstomakeinformeddecisions, optimizetheirstrategies,andidentifyareasforimprovement.Byleveragingdata,startupscandriveefficiency, enhanceuserexperiences,andachievesustainablegrowth.
Techstartupsthatachievesignificantimpactprioritizeuser acquisitionandretentionstrategies.Theyinvestinmarketing,useracquisitionchannels,andcustomerretention initiativestobuildaloyaluserbase.Thesestartups understandtheimportanceofprovidingvaluetocustomers consistentlyanddeliveringexceptionalexperiences.By focusingonuseracquisitionandretention,startupscan drivegrowth,increasecustomerlifetimevalue,and establishacompetitiveedgeinthemarket.
By fostering these attributes and cultivating a conducive internal ecosystem, tech startups can position themselves as drivers of change, disruptors within their industries, and contributors to societal and economic growth
India’s First Rural Focused Neo Bank with One Stop Bharat Khata Digital Solu on
Theseverityofthedigitaldivideisfeltdailyby ruralIndians,especiallyfarmers,traders, distributors,wholesalers,manufacturers,retailers, andexportersoperatingintheremotestofareas.The scenarioforurbanIndiaisespeciallydifferentwhenit comestoaccesstofinanceandcredit.
Becauseanyonelivinginanurbanorsemi-urbanareacan walkintoashop,mall,orretailstoreandbuywhateverthey needandareofferedeasilyaccessibleshortpaymentsor EMIoptions.Theycanbuytheproductandpayforitin easyinstalmentsattheirconvenienceafterwards.
Adriel Maniego Co-founder and COO
However,inthesamescenarioinruralIndia,supposea farmeroragro-producerwalksintotheretailstore,shop,or mallandbuysequipmentvitalfortheirbusiness. Did the same EMI options were available to them? No.Sowhat optionswereleftforthem?Eitherborrowthemoneyfrom moneylendersatunbearableinterestratesoraskforcredit fromfriendsandrelatives.
Theanswerchangedto Yes,andthescenariois transforming,thankstoJaiKisan,foundedbyArjun Ahluwalia,Co-founderandCEO,whowasaprofessional fromtheprivateequitynicheandAdrielManiego,CofounderandCOO,fromthePhilippines,withaimof
Arjun Ahluwalia Co-founder and CEO
creatingthefirstfull-stackandseamlessbankingexperience forruralindividuals.
Accordingtothem,amassivecreditgapintheruralmarket, beingmeagrelyservedbyinformalmoneylendersat exorbitantrates,inspiredtheneedtochangehowday-todaybankingwasdonebyover600millionpeopleinIndia. JaiKisan,asanorganisation,holdscustomerempathyatthe heartofouroperations,stemmingfromafirst-hand understandingofruralvaluechains.
JaiKisanisarural-focusedNeoBankwhoseapplicationBharatKhata,providesaone-stopsolutionforrural businessesandindividuals'financialneedsstartingwith best-suitedcreditproducts.Arjunsays,“We work with value chain businesses of all sizes and structures - from retail outlets to large corporations to provide financial services to their network of middlemen (dealers, aggregators, etc.) and individual customers fuelling growth for everyone.”
JaiKisanisbuildingthefirstruralfintechfull-stack platformtocatertothefinancialneedsofborrowersinrural emergingmarkets.JaiKisanusescreditasahookto digitallyandfinanciallyonboardtheruralmasses.Today, JaiKisanfacilitatessecuredandincome-generatingloansto ruralborrowers,mostlyfarmers(morethan70%ofrural Indiadependsonagricultureastheirprimarysourceof livelihood),fromvariouslendinginstitutionsthroughits mobileandweb-basedplatform.
JaiKisan'splatformisbuilttoempowerthegrowthofRural Indians,especiallyfarmers.“We provide low cost and timely financing for agricultural equipment, dairy equipment and other rural yield generational assets that is more flexible and transparent than any other credit option available today,”addsAdriel.
WhyJaiKisan?
Ÿ Customizedproductstosuityourneeds.
Ÿ End-to-enddigitalplatformanddata-drivendecisionmaking.
Ÿ Minimaldocumentationforquickandeasyprocessing.
Ÿ Attractivepre-approvedoffers.
India'sfirst-everfullydigitalBuyNow,PayLatersolution forruralbusinessestoprovideformalcredittotheir
customersandenablethemtobuyhigh-qualityproducts! Cateringtonotjustthe1%butalsothe99%.Adriel informs,“WeofferBNPLproductsinpartnershipnotonly withdigitalstorefronts/eCommercewebsites(<1%ofrural GMV)butalsobrickandmortar storefronts/dealers/retailers/merchants(~99%ofrural GMV)totheircustomers.”
*
Ÿ Fastercashcycles-Realizefastercashcyclesand increaseyourbusinessturnover
Ÿ LowerCollectionsEffort:BNPLleveragesE-Mandate toautomaticallydebitpaymentsonduedates.
Ÿ MoreInboundCustomers-Increasecustomer footfallsbyenablingcreditatyourstorefront.
Ÿ IncreasedRevenue:Increaseyourbusinessby attractingmorecustomersandenablingthemtospend morewithyourbusiness.
*
Ÿ Increasedleverage:GetlimitsfromJaiKisanand spendwhenever,wherever.
Ÿ LowerInterestrates-Bestin-towninterestratesto fuelyourpurchases.
Ÿ Flexiblerepaymentoptions-Choosefromeasyand flexibleEMIrepaymentoptions.
Ÿ BetterCreditHistory-Buildyourcredithistoryand accessmorefinancialproductsfromJaiKisan.
UnlockthefullpotentialofyourbusinessbyavailingofJai Kisan’screditsolutionstobuyandsellgoods.JaiKisan's supplychainfinancingisaflexible,collateral-freecredit solutionforgrowth-orientedbusinesses.“We provide tailored solutions to our customers to help them bridge gaps in their credit cycles, and our platform ensures easy onboarding and low turnaround time in a tech-enabled manner,”saysArjun.
WhyJaiKisanSupplyChainFinancing?
Ÿ Revolvingcreditfacility-tohelpyourbusinesschurn withoutstretchingyourworkingcapital
Ÿ CustomizedFinancing-tosuityouruniquebusiness needs
Jai Kisan is a rural focussed Neo Bank, whose applica on - Bharat Khata, provides a one-stop solu on for rural businesses' and individual's financial needs star ng with best-suited credit products.
Ÿ End-to-endtechplatform-toensureefficientaccessto financialservicesandlowturnaroundtimes
Ÿ Affordableinterestrates-tohelpyougrowwhile maintainingahealthycashflow.Recordyour transactionsonBharatKhataandavailofsupplychain financingforyourbusiness!
BharatKhata
Digitizeyourtransactionsandavailthefullsuiteof customizedfinancialproductsofferedbyJaiKisan.Extend BNPLorAvailSCFwithinminutesandrealizefaster turnovers,increasedaverageticketvalueandreachedoutto morecustomers.
BenefitsofBharatKhata
Ÿ Connectdigitallywiththevaluechain.
Ÿ Availfinancingforthemselves.
Ÿ Extendingcheckoutfinancingfortheircustomers.
Ÿ Trackexpensesandtransactions.
Ÿ Collectduesfaster,andsendreminders.
Ÿ Manageordersandinventory
Ÿ Automatebusinessprocesses.
Ÿ Trackcreditandrepayment.
HowtogetstartedwithJKBharatKhata,BNPLor SCF?
It is four steps, easy process.
Ÿ Step1:DownloadBharatKhataandsetupyour businessprofile.
Ÿ Step2:ApplyforBNPLLimit/SCF.
Ÿ Step3:Completeyouronboardinginafewclicksand getapprovedforalimitofminutes!
Ÿ Step4: Your Business Is Ready -ExtendBNPLtoyour customersoruseSCFtofinanceyourtransactions!
IndustriesWeServe–Dairy,Poultry,Agriculture, Manufacturing,Fishery,
JKAccoladesandAwards
Ÿ JaiKisan’sstorywasfeaturedinoneofthe“5AgriFintechStartupsPoweringAgricultureinThe Hinterland”inSep2022, Forbs India Magazine.
Ÿ ETStartRunnerUpintheSocialEnterpriseCategory oftheUpAwards,2021.
Ÿ FinalistintheBetterLifeCategoryoftheUNFAO’s WFF/XTCStartUpAwards.ShortlistedforIndia FinTechForum’sIndiaFinTechAwards2021inthe FinTechStart-upoftheYearCategory.
Ÿ SelectedasoneoftheTop50InclusiveFinTech StartupsintheWorldbyIFC,Visa,andAccion.
Ÿ SelectedasoneoftheTop15AgriStartupsinAsiain the Rabobank SustainableAG Asia Challenge.
