Swipez

paymentspayment gatewaysb2b fintechpayments - b2b fintech

FOUNDING YEAR:
LOCATION: India
Last Update: 09/07/2020

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About

Swipez is a digitisation toolkit for small and medium businesses. It integrates accounting, digital payments and customer data under one roof. The Swipez promise is to constantly improve cashflows for businesses by facilitating faster payment collections. Businesses that use Swipez see at least a 35% improvement in their cash flows.

MEDICI Analysis

Swipez helps businesses streamline operations by automating their invoicing, payment collections, bulk payouts, GST filing & customer data management. Businesses using Swipez have improved revenue collection by over 30% & saved over 100 man hours a month.

Focus

PRODUCTS & SERVICES

Swipez provides businesses easy to use & timely revenue collection mechanisms by automating their business operations & GST filing. The company helps businesses streamline operations by automating their invoicing, payment collections, bulk payouts, GST filing & customer data management.

REVENUE MODEL

1. Subscription: Merchants pay us annual subscription fee to use the product. 2. MDR differential. Payment gateways give us approximately 2 Rs. per transaction. 3. Enterprise deployments: Where the product is deployed for corporates

MAIN CLIENTS

Aon Global Insurance Brokers

PRIMARY PROBLEM SOLVED

Swipez improves cashflow and customer retention for small businesses by helping them digitise their business process, manage their vendors and collect online payments from customers.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

REVENUE

$0 - $99k

REVENUE COMMENT:

Of the 650 merchants, the initial merchants were given the product for free so as to get feedback from the market. A few others have dropped off after the free trial. Hence the difference between total merchants and paid merchants

ACTIVE USERS:

650 Merchants, 80000 customers on SaaS

ACTIVE USERS COMMENT:

The above numbers do not include customers from the 3 Enterprise deployments

People

BOARD MEMBERS AND ADVISORS

Alok Samtaney

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Paresh Patil

Sarang Shahani

COMMENT:

Shuhaid is the CTO & has spent 15 years in banking technology architecting software Vivek is the CRO & has spent 15 years in digital marketing. All members of the team have stuck together for the past 4 years. 0 attrition!

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$250 K

USES OF FUNDS RAISED:

1. Feet on Street Sales

2. Channel Partnerships & Resellers

3. Strategic Alliances

4. Events and Trade fairs

5. Digital Marketing

6. Sell Swipez in international markets

7. Feet on Street Sales

8. Channel Partnerships & Resellers

9. Strategic Alliances

10. Events and Trade fairs

11. Digital Marketing

12. Sell Swipez in international markets

EXIT STRATEGY

1. SaaS companies entering Indian market and want a captive customer base/ customised product for India. 2. Payment Gateways: As payment becomes commodity, VAS on digital payments will gain value like in the west. 3. Businesses/ NBFCs/ Banks interested in B2B lending. Swipez becomes the platform to ratify merchant business robustness. Can be used for Bill Discounting.

MONTHS LEFT WITH CURRENT CASH BURN RATE:

18 months from 24 Nov, 2018

COMPETITORS:

Zoho Corporation

Wave Accounting

Zoho Corporation

Wave Accounting

Innovation Programs

BASICS

Views:

121 VISITORS | 228 VIEWS
TOTAL EMPLOYEES
1-10

About

Swipez is a digitisation toolkit for small and medium businesses. It integrates accounting, digital payments and customer data under one roof. The Swipez promise is to constantly improve cashflows for businesses by facilitating faster payment collections. Businesses that use Swipez see at least a 35% improvement in their cash flows.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Swipez helps businesses streamline operations by automating their invoicing, payment collections, bulk payouts, GST filing & customer data management. Businesses using Swipez have improved revenue collection by over 30% & saved over 100 man hours a month.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

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Swipez

About

Swipez is a digitisation toolkit for small and medium businesses. It integrates accounting, digital payments and customer data under one roof. The Swipez promise is to constantly improve cashflows for businesses by facilitating faster payment collections. Businesses that use Swipez see at least a 35% improvement in their cash flows.

Focus

PRODUCTS & SERVICES

GST friendly B2C & B2B Invoicing Sector specific invoicing templates Digital Payment collection Customer Contact Bulk upload of invoices Recurring Billing Payment Gateway Agnostic B2B Transfers Franchisee Management Payment Splitting Manage vendor transfers Settle offline payments ; Single window reconciliation Swipez APIs available for third party integration Extensive reporting and reconciliation for analysis and tax filing SMS Alerts & Email Notifications/ reminders Integrated SMS Gateway Additional custom plugins for verticals

REVENUE MODEL

1. Subscription: Merchants pay us annual subscription fee to use the product. 2. MDR differential. Payment gateways give us approximately 2 Rs. per transaction. 3. Enterprise deployments: Where the product is deployed for corporates

TOP PROBLEM SOLVED

Swipez improves cashflow and customer retention for small businesses by helping them digitise their business process, manage their vendors and collect online payments from customers.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

The product is built on the LAMP Stack. It is fully functional and in use by 650+ merchants who manage over 80000 of their customers on the Swipez platform. We have also done 3 enterprise deployments including Amazon & AON Global and Reliance Mutual Funds. Swipez is built in house and bottom up after feedback from merchants. We have a release cycle every 3 weeks where the most upvoted requirements from clients are addressed first.

KEY DIFFERENTIATORS

Swipez is currently the only platform that integrates Accounting data, digital payments and Customer data under one roof in this product category. The others who do this are ERP tools which are not in the same price band or addressing the same customer segment.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small and Medium Business - Online Retail

Small And Medium Business - Other

PRODUCT ATTRIBUTES

SaaS

White label

People

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: Shuhaid Lambe

CTO: Shuhaid Lambe

Sr. Developer: Paresh Patil

Customer Support Lead: Sarang Shahani

TEAM COMMENT:

Shuhaid is the CTO & has spent 15 years in banking technology architecting software Vivek is the CRO & has spent 15 years in digital marketing. All members of the team have stuck together for the past 4 years. 0 attrition!

BOARD MEMBERS AND ADVISORS:

Alok Samtaney

Momentum

FUNDED

NO

TOTAL FUNDING:

$30 K

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Sep 2017 --- USD30 K at a USD1 Mvaluation Comment on Seed Initial seed round funded by 2 Angel investors. Necessary paperwork is to be completed and share certificates to be issued yet. Will be done by December 2018.