The Wolves Of Moneyball Street For SMEs The company has recently raised $15 million in a Series A funding round led by Sequoia Capital and India Quotient and plans to use this investment for the company's further product development and drive customer acquisition
By Prabhjeet Bhatla •
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Always having wanted to bring the idea to life that drastically improves the quality of life of the people outside the metropolitan cities, the co-founder of a payroll and attendance management app for micro, small, and medium enterprises (MSMEs) PagarBook, Rupesh Kumar Mishra told Entrepreneur India, "India's 60 million SMEs and its 400 million large workforces contribute roughly 30 per cent of India's GDP, but still lack a verified financial and professional footprint in any organized technology ecosystem."
"This was the very idea behind our previous offering India's first vernacular quality knowledge sharing social media platform GyanApp that we launched in 2018," stated Adarsh Kumar, co-founder, PagarBook while supporting Mishra's statement.
Arya Adarsha Gautam, co-founder, and chief technology officer, PagarBook added by sharing that continuing that zeal to make cutting-edge technology that can solve the needs of small businessmen or SME community led us to start PagarBook that helps digitization of financial and professional profiling of millions of SME workforce and that will further help them bring into the mainstream financial ecosystem.
The fintech brand maintains that over the last six months, the platform has increased its user base to 5 million and launched its user interface (UI) in thirteen different languages. Since the solution serves all staff management needs, it is not restricted to a single business/sector; hence, the company serves clients from various industries.
The co-founders give credit to their customer-centricity for making their platform stand out.
The trio believes that being from non-metro towns, they always kept in mind to remove that buffer in time while building their brand.
PagarBook has recently raised $15 million in a Series A funding round led by Sequoia Capital and India Quotient and plans to use this investment for the company's further product development and drive customer acquisition.
The eight-month-old startup takes pride in the sense that their platform proportionally aligns with the Indian Government's vision of AtmaNirbhar Bharat and "Vocal for Local,' and joyously voiced, "We are a Bharat brand providing solutions to small business owners who have come up their hard way. We understand that the SMEs are the key to make us AtmaNirbhar as a nation and our focus continues to be on providing relevant solutions that help them as well as we grow," co-founders collectively said.
The staff management solutions provider considered 2020 as a very good year indeed as the company recently roped in Akshay Kumar to put muscle behind the platforms its brand ambassador and announced its goal to gain 10 million registered users by the end of FY21. The company has now launched its maiden mass campaign with the actor to establish itself as a trustworthy, easy-to-use app that empowers SMBs.
A more well versed and user-friendly product that solely focuses on solving end-to-end staff management needs by meeting every new need of its clients and according to the pack, "all we need to do is, just nurture them by understanding their future needs that will surely help our app and promote it further."
