How a startup reached 100 crores annual revenue in just 3 years? #StartupIndia

Read Time:2 Minute, 23 Second

New Delhi (India), April 9: In the past few years, start-ups have been growing exponentially. In 2021, there were over 50000 new start-ups in the India alone. A lot of these companies are making an impact on the world with their products and services.

Along with many such problems that other startups are solving, in a country like India, where the banking penetration is still low, there are many people who can’t access financial services easily. The Indian government has been trying to address this issue by introducing new schemes and policies.

However, it is difficult for the government to reach all the people in remote villages, who are not connected to a bank branch or ATM.

This is where start-ups like Spay India come into play.

Spay India, was founded by Mr. Nikhilesh Tiwari CEO & Founder and Mr. Sunil Dhawan COO & cofounder in 2018. They have been working on the idea of rural banking for a long time. The founders were born and raised in rural India and they were aware of the challenges faced by people who don’t have access to banking facilities.

Their aim was to provide banking services to the rural population and make banking easier for them. The company has been growing at a rapid rate since then and now has annual revenue of 100cr rupees.

Spay India operates from 20 States and 4 Union Territories. The company has a strong presence in rural banking, with a network of over 25,000 branches across the country. Spay India has also been an active player in the financial inclusion space, and It is one of the country’s fastest growing fintech company in the BC domain and proudly marks as a Category “A” company.

This is how they reached this number –

– They focused on building a good customer experience by providing their merchants/agents an easy and direct access to Spay management for any problems they face.(Dil Se dil tak)

– The company also encourages its customers to use their service by giving them discounts on various products offered by the company.

– As per our regular quality and market analysis, we have satisfied 7 out of 10 network partners with our portal performance, which also makes Spay as one of the primary used portal in the country.

– In the latest month i.e. Feb, 22 on the second Monday (which is the most crucial day in our industry as it brings the highest load of business in a single day), Spay portal serviced approx. 1.65 Lakh transactions on a volume of INR 32 Crores, our success rate touched a massive 99.9% success txns as only 80 txns went pending which were also successful within 24 hours.

You would not be wrong in saying that “Spay hai toh bharosa hai.”

The post How a startup reached 100 crores annual revenue in just 3 years? #StartupIndia appeared first on Republic News Today.

Related Posts

Hybrid Work: The Future of India’s Job Market, Says Arghya Sarkar, Founder of Recruitment Mantra

Kolkata (West Bengal) [India], April 19: As businesses in India grapple with a rapidly changing workforce and the quest for the most effective working model, Arghya Sarkar, Founder of Recruitment…

CA Nidhi Jain’s ‘Pursuit of Finance & Leadership’: India’s Top Leaders Mentoring the Next Generation

Mumbai (Maharashtra) [India], April 18: In a rapidly evolving business landscape, one platform is making waves by equipping professionals and entrepreneurs with the tools they need to thrive: The Pursuit…

You Missed

Ospree Duty Free x APTRA India, the Three Day Conference Closes with a Momentum for the Future

  • By
  • April 15, 2025
Ospree Duty Free x APTRA India, the Three Day Conference Closes with a Momentum for the Future

Sanaa Khan: Bringing Global Flair to Indian Fashion

  • By
  • April 14, 2025
Sanaa Khan: Bringing Global Flair to Indian Fashion

Glocal Ushers in a New Era of Culinary and Cultural Experiences

  • By
  • April 11, 2025
Glocal Ushers in a New Era of Culinary and Cultural Experiences

Geetika Mahandru Discusses How Indian Consumers Are Embracing Premium Spirits

  • By
  • April 10, 2025
Geetika Mahandru Discusses How Indian Consumers Are Embracing Premium Spirits

Rohit Bharath Bejjarapu: One of World’s Youngest Wearable Tech Inventors with Granted Patent

  • By
  • April 4, 2025
Rohit Bharath Bejjarapu: One of World’s Youngest Wearable Tech Inventors with Granted Patent

Dr. Sandeep Marwah Unveils Vision for a United Asia at AUA Headquarters

  • By
  • April 2, 2025
Dr. Sandeep Marwah Unveils Vision for a United Asia at AUA Headquarters