This Startup Is Cutting Out The Middleman From Indian Retailers' Profits This cloud integrated mobile-based interface is aiming to interconnect 60% of Indian retailers in an $800-billion sized Indian retail market.
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Till about five years ago, no retailer would have dreamt of being able to experience the independence this startup envisages for the community of Indian retailers on an android-based platform to encourage Indian retailers. This cloud integrated mobile-based interface is aiming to interconnect 60% of Indian retailers in an $800-billion sized Indian retail market.
"Netree', a Delhi –based company started in 2012, is encouraging Indian retailers to be more tech-driven in facilitating work.
Started by Desi S Valli, who never dreamt of a venture like this, "Netree' is helping Indian retailers by providing solutions on how to maintain, manage business operations from getting funds to managing inventories, to interacting consumers.
At the same time, "Netree' helps to connect retailers to the respective stakeholders. The vast list of stakeholders includes suppliers, manufacturers, banks and financial insititutions, , Insurance & logistics companies.
Valli, a techie with a business background from Kanyakumari, wants all Indian retailers to come under one roof, have one voice.
While Valli was working as a member of Internet Service Providers Association of India (ISPAI), a government committee that helps SME entrepreneurs in payments & transactions; he saw a huge opportunity in Indian retail segment to ease the operations of SME owners.
"I was a consultant in IPSAI ministry when I first found my interest in facilitating the way how Indian retailers manage businesses, during a session on converting ATM cash into digital money to help Indian MSMEs."
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"Netree' helps retailers to sell and market its products with various verticals which include in in-store, online store operations effectively and efficiently. The company says it provides an opportunity to Indian retailers to interact with consumers.
The first of its kind, Indian retailer engagement platform, Netree', raised funding in the pre-series A round led by The Chennai Angels and LetsVenture with an undisclosed amount.
"We started our operation with 3 employees on-board in 2012, and now the team of "Netree' has 40 employees in Delhi office." says Valli to Entrepreneur.
The founder of "Netree' can be accredited with not one but many feathers in his hat. With intent of improving the Indian retailers' resources and information, Valli is aiming to facilitate the 60% segment of Indian retail market, which lies in an unorganized part of Indian market.
Capturing the frenzy for digital payments, "Netree' has also tied-up with various digital wallets like Airtel Money etc. to provide retailers solutions for payment and transactions.
In the current scenario, where there is a strong push in the atmosphere to motivate small and medium business retailers, Netree is also playing a small part in that.
"The present generation that is opting to go about entrepreneurship, is ambitious in managing business operations being technology driven. And, that's how the Indian retailers will be able to make more profits by eliminating middleman in chain."
How is "Netree' changing the old-mindset of Indian retailers?
Netree is making a move to change the old-school mindset of Indian retailers of relying on primary and secondary resources to expand business.
After working for Net4India Ltd. for several years, Valli observed that the unorganized segment of Indian retailers look for resources for funds like middleman who charge heavy interests on them, eventually, or give stock on long interest credits. That results the delay in payments for stock.
To reduce the burden of funding and heavy interest rates, Netree has also tied up with banks and initiatives, which want to help in funding these retailers.