BluPay

paymentssoftware/whitelabel/apis (payments)

FOUNDING YEAR: 2014
LOCATION: India
Last Update: 18/10/2019

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About

BluPay aims to be a leader in the consumer experience space by empowering them with self-shop option, receiving contextual information and making friction less payment in an offline environment. BluPay - a) addresses the ‘Queue Busting’ through self check-out - Scan barcode, fill the cart and pay! b) Offers convenience, privacy and control to the individuals c) Engages consumers through the entire process of shopping in-store and beyond – conversation, Information & Support d) Enables Loyalty programs – Accumulation & Redemptions e) Allows multiple modes of payment with & without internet dependency A strong and experienced management team backed by an advisory panel from the industry has helped BluPay in forming long term strategies.

MEDICI Analysis

BluPay aims to be a leader in the consumer experience space by empowering them with self-shop option, receiving contextual information and making friction less payment in an offline environment. BluPay - a) addresses the ‘Queue Busting’ through self check-out - Scan barcode, fill the cart and pay! b) Offers convenience, privacy and control to the individuals c) Engages consumers through the entire process of shopping in-store and beyond – conversation, Information & Support d) Enables Loyalty programs – Accumulation & Redemptions e) Allows multiple modes of payment with & without internet dependency A strong and experienced management team backed by an advisory panel from the industry has helped BluPay in forming long term strategies.

Focus

PRODUCTS & SERVICES

BluPay empowers both consumers and merchants by enabling proximity payments, proximity marketing and self-shop modules. Through BluPay, the merchant can provide a private brand shopping platform to their consumers through their entire shopping journey within a store or outside of it. Consumers can use their smartphone for contextual rich data interaction, explore products, process payments and participate in the loyalty programs of the merchant. This increases average order value for the merchants and also enhances customer experience. BluPay is a queue-less, cash-less and card-less solution offering multiple modes of payments some of which are totally internet independent.

REVENUE MODEL

Integration + license+ transaction percentage + proximity marketing services

PRIMARY PROBLEM SOLVED

Queue less shopping, Omni-channel, mPOS and multi-mode payments in the offline store

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

REVENUE

$0 - $99k in 2016

REVENUE COMMENT:

BluPay being a payment product provides more than just payments. The multiple hooks to acquire and retain end consumers would provide BluPay a strong platform to scale up rapidly through the merchant and bank channels.

NUMBER OF TRANSACTIONS:

100.00 in 2016

TRANSACTIONS VALUE:

$100.00 in 2016

ACTIVE USERS:

100 Million in 2016

ACTIVE USERS COMMENT:

We are currently rolling out the solution for the largest retailer in the country. The stores should be live by early August 2017

TRACTION COMMENT:

Currently the pipeline in the retail space is growing pretty fast for the Indian market and just about started in the Australian market as well. Future group, the largest retailer in the country has committed to go with us starting with their premier apparel brand - Central, followed by Brand factory, Big Bazaar and others

People

FOUNDERS

Pavan Panchamukhi

Prashanth Gangisetty

BOARD MEMBERS AND ADVISORS

Raj Subramaniam

Subinder Khurana

Rajesh Venkatesh

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

Abhinav Lunawat

Syed Abdul Majid

COMMENT:

Team combination is where we score well. Technology, operations, banking, retail,delivery is all a part of the core team. Our advisor, Raj had a fintech product which was operational for more than 10 years before getting acquired. Guhesh, our other advisor is a serial entrepreneur,supports on the market,business data

Momentum

FUNDED

NO

LISTED

NO

EXIT STRATEGY

BluPay would need another couple of rounds of funding to scale it up in multiple geographies. Post that, we would like to either get acquired to sell it to a larger organisation to scale it up further

For Investors

FUNDING NEEDED:

$300 K

USES OF FUNDS RAISED:

1. Testing

2. Deployment & scaling

3. Support team

4. Sales team

EXIT STRATEGY

BluPay would need another couple of rounds of funding to scale it up in multiple geographies. Post that, we would like to either get acquired to sell it to a larger organisation to scale it up further

MONTHS LEFT WITH CURRENT CASH BURN RATE:

3 months from 15 Sep, 2017

COMPETITORS:

Ultracash

Paynear

Omnypay

Innovation Programs

BASICS

FOUNDING YEAR:

2014

LOCATION:

India

Views:

202 VISITORS | 321 VIEWS
TOTAL EMPLOYEES
11-50

About

BluPay aims to be a leader in the consumer experience space by empowering them with self-shop option, receiving contextual information and making friction less payment in an offline environment. BluPay - a) addresses the ‘Queue Busting’ through self check-out - Scan barcode, fill the cart and pay! b) Offers convenience, privacy and control to the individuals c) Engages consumers through the entire process of shopping in-store and beyond – conversation, Information & Support d) Enables Loyalty programs – Accumulation & Redemptions e) Allows multiple modes of payment with & without internet dependency A strong and experienced management team backed by an advisory panel from the industry has helped BluPay in forming long term strategies.

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

BluPay aims to be a leader in the consumer experience space by empowering them with self-shop option, receiving contextual information and making friction less payment in an offline environment. BluPay - a) addresses the ‘Queue Busting’ through self check-out - Scan barcode, fill the cart and pay! b) Offers convenience, privacy and control to the individuals c) Engages consumers through the entire process of shopping in-store and beyond – conversation, Information & Support d) Enables Loyalty programs – Accumulation & Redemptions e) Allows multiple modes of payment with & without internet dependency A strong and experienced management team backed by an advisory panel from the industry has helped BluPay in forming long term strategies.

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

Innovation Programs

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BluPay

About

BluPay aims to be a leader in the consumer experience space by empowering them with self-shop option, receiving contextual information and making friction less payment in an offline environment. BluPay - a) addresses the ‘Queue Busting’ through self check-out - Scan barcode, fill the cart and pay! b) Offers convenience, privacy and control to the individuals c) Engages consumers through the entire process of shopping in-store and beyond – conversation, Information & Support d) Enables Loyalty programs – Accumulation & Redemptions e) Allows multiple modes of payment with & without internet dependency A strong and experienced management team backed by an advisory panel from the industry has helped BluPay in forming long term strategies.

Focus

PRODUCTS & SERVICES

BluPay empowers both consumers and merchants by enabling proximity payments, proximity marketing and self-shop modules. Through BluPay, the merchant can provide a private brand shopping platform to their consumers through their entire shopping journey within a store or outside of it. Consumers can use their smartphone for contextual rich data interaction, explore products, process payments and participate in the loyalty programs of the merchant. This increases average order value for the merchants and also enhances customer experience. BluPay is a queue-less, cash-less and card-less solution offering multiple modes of payments some of which are totally internet independent.

REVENUE MODEL

Integration + license+ transaction percentage + proximity marketing services

TOP PROBLEM SOLVED

Queue less shopping, Omni-channel, mPOS and multi-mode payments in the offline store

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

Self-shopping - convenience and Queue less Omni-channel shopping mPOS capabilities Contact less over Bluetooth Choice of source of payment Card-less payments No network dependency

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

STRATEGIC CLIENTS AND PARTNERSHIP

ICICI Bank Limited : UPI partner

Axis Bank : IMPS/UPI partner

People

FOUNDERS

Pavan Panchamukhi

Prashanth Gangisetty

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Pavan Panchamukhi

VP - Business & Strategy: Abhinav Lunawat

AVP - Technology: Syed Abdul Majid

FOUNDER: Prashanth Gangisetty

TEAM COMMENT:

Team combination is where we score well. Technology, operations, banking, retail,delivery is all a part of the core team. Our advisor, Raj had a fintech product which was operational for more than 10 years before getting acquired. Guhesh, our other advisor is a serial entrepreneur,supports on the market,business data

BOARD MEMBERS AND ADVISORS:

Raj Subramaniam, Subinder Khurana, Rajesh Venkatesh

Momentum

FUNDED

NO

TOTAL FUNDING:

$125 K

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Jan 2016 --- USD125 K at a USD33 Mvaluation Rajesh