KhatePay

BNPL for local merchants

In college along with two other batch mates from IIT Ropar I built a BNPL product that enabled offline merchants to offer credit to their most regular & loyal consumers. We incorporated the company and launched the Pilot with our first set of users.

Organisation

KhatePay

Problem Statement: Covid-19 had created a huge cash crunch in markets, belonging from a business family I was experiencing this first hand. The distributors had stopped offering credit to the small merchants and thus the merchants were not able to extend credit to their customers either. Bringing end to the age old concept of Khatas on which offline consumers used to heavily rely. At KhatePay we were trying to convert these offline Khatas to a structured form of BNPL and solve this problem for both merchants and their consumers.

We incorporated the company and raised an angel round from some great investors based out of US including CFO of Simpl, Russell Bryne. We lauchced the product and did multiple pivots. Although we couldn't figure out the Monetisation and decided to move on after returning the funds back to investors.