This Platform Is Enabling Peer-to-Peer Donation Seamless
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Most of the celebrities, though not everyone, smitten by startup frenzy usually either lend their name bringing in star power to the gig, or makes passive investment as a stakeholder. However, that is not the case with Kunal Kapoor.
Kapoor—the co-founder of Ketto and who starred in the blockbuster film Rang De Basanti alongside Aamir Khan—started the startup eight years back with his friends and has actually rolled up his sleeves and built Ketto from ground up.
Ketto is the first donation-based peer-to-peer crowdfunding platform in India. Ketto stands for Key to Tomorrow, implying the founders’ mission to create a change in society and connect people to access healthcare and share happiness. Ketto’s vision is ‘healthcare for all’.
In a recent conversation, co-founder of Ketto, Varun Sheth said, "We are hiring aggressively pan India during this pandemic as we have seen a huge growth of individuals and NGOs using our platform to raise funds for their causes. We believe with a larger team, the quality of experience and support will go up tremendously.”
Starting the gig
"We believe democratization of capital was something that would be really powerful and was much needed," said Kapoor.
Often there are people who have a great idea but didn't have access to capital and then there are people who have capital but don’t know where to invest that in, and Ketto uses technology to build a bridge between these two, he added.
"Before I became an actor, I was always drawn towards business and entrepreneurship. But for me the best kind of business was a business that was not only about profit but was about social impact," said Kapoor.
His mission is not only about creating a startup but changing a mindset, create an environment wherein people are far more charitable, and “that's what Ketto really focused on in the last eight-and-a-half years”.
Using the power of social media
"In India, we were actually creating something that didn't exist, and for us it was not only about educating the people that we're going to donate but also educating people that where to go to raise money," said Kapoor.
Social media plays an important role in the distribution of information and the primary benefit of social media is connection. But sometimes this connection is used for the wrong reasons, which is misinformation, a problem Ketto is trying to address.
In Ketto’s experience, the more people get educated about the power of fundraising the more there's awareness and less shame attached to it. In the last three years, Ketto has seen this change. “When we really started doing well, we were raising in a month an amount that was earlier raised in a year, and then the same amount in a week,” said Kapoor, adding it has to do with the fact that people are not afraid to step up and ask a stranger for money when they're in need.
How did Ketto help people during COVID?
"During COVID, Ketto has seen people really wanting to step up and contribute and make a difference and we hope that this is something that doesn't change," said Kapoor.
Ever since the beginning of the pandemic, Ketto has been distributing PPE kits, ration kits and providing support to migrant workers. It established community kitchens to feed hundreds of people every day.
Sheth also added that Ketto has been building its expertise in the healthcare domain and aims to on-board over 600 hospitals in the next 36-months. It works with partner hospitals to support patients who require urgent medical treatments.
Ketto is also planning to launch its product in the healthtech vertical to improve engagement and discovery for patients during their ongoing medical treatment.