Happay- a Bangalore-based leading
Expense Management Company has successfully crossed the Gross Transaction Value
of INR 400 Crore a year and plans to double it (800 Cr.) by FY 2017. The
company is looking to broaden its customer base with an investment of INR 150
Crore to add more than 10,000 SME’s on its platform by FY 2019. Happay has
experienced a speedy expansion of 350% in comparison to its operations of last
year having grown its customer base to 1500 registered SME’s in more than 170
cities.
Expense Management Company has successfully crossed the Gross Transaction Value
of INR 400 Crore a year and plans to double it (800 Cr.) by FY 2017. The
company is looking to broaden its customer base with an investment of INR 150
Crore to add more than 10,000 SME’s on its platform by FY 2019. Happay has
experienced a speedy expansion of 350% in comparison to its operations of last
year having grown its customer base to 1500 registered SME’s in more than 170
cities.
At present, the company is focused on
the automation of the conventional system of Employee Expense management,
Vendor payments, Opex expenses, Salary disbursement & Petty cash payments
through web & mobile app-enabled interfaces. Happay is offering additional
features to emerge as a 360 degree spend management solution provider to assist
enterprises to become more compliant with IFC, Expense & Tax Audits.
the automation of the conventional system of Employee Expense management,
Vendor payments, Opex expenses, Salary disbursement & Petty cash payments
through web & mobile app-enabled interfaces. Happay is offering additional
features to emerge as a 360 degree spend management solution provider to assist
enterprises to become more compliant with IFC, Expense & Tax Audits.
When asked about the customer
acquisition strategy, Varun Rathi, COO & Co-founder of Happay said “We
provide exceptional services to our customers round the clock & hence they
are our biggest brand ambassadors. A significant percentage of new acquisitions
happen through referrals and word of mouth.
acquisition strategy, Varun Rathi, COO & Co-founder of Happay said “We
provide exceptional services to our customers round the clock & hence they
are our biggest brand ambassadors. A significant percentage of new acquisitions
happen through referrals and word of mouth.
We are onboarding 4-5 new customers
every day and are optimistic of scaling the numbers by more than double with
our multi-channel acquisition strategy comprising of strong customer support,
multi-city presence on field, Digital marketing, Inbound marketing and
partnerships with prominent SME facilitators”
every day and are optimistic of scaling the numbers by more than double with
our multi-channel acquisition strategy comprising of strong customer support,
multi-city presence on field, Digital marketing, Inbound marketing and
partnerships with prominent SME facilitators”
Anshul Rai, CEO & Co-founder of
Happay said “Happay’s backbone is the powerful technology & the seamless
business integration capability that ensures we are geared up for multi-fold
growth. Currently, Happay is being used by companies to manage employee expenses
& reimbursements, largely but soon enough, our clients will be able to use
it for all kinds of business spend. So, companies will be able to track &
manage every single Rupee that goes out of their bank account.”
Happay said “Happay’s backbone is the powerful technology & the seamless
business integration capability that ensures we are geared up for multi-fold
growth. Currently, Happay is being used by companies to manage employee expenses
& reimbursements, largely but soon enough, our clients will be able to use
it for all kinds of business spend. So, companies will be able to track &
manage every single Rupee that goes out of their bank account.”
According to software industry body,
Nasscom, the Indian fintech software market is set to spiral upwards from its
current $1.2 billion to $2.4 billion by the year 2020., According to a report
by KPMG, the transaction value for the Indian fintech sector, estimated at
approximately $33 billion this year is anticipated to reach $73 billion in
2020, growing at a five-year compound annual rate of 22%.
Nasscom, the Indian fintech software market is set to spiral upwards from its
current $1.2 billion to $2.4 billion by the year 2020., According to a report
by KPMG, the transaction value for the Indian fintech sector, estimated at
approximately $33 billion this year is anticipated to reach $73 billion in
2020, growing at a five-year compound annual rate of 22%.
The current addressable market
consists of over 3.5 million SMBs and Large Enterprises, a very underserved
market which has resulted in a huge gap. Happay is currently the leader in
“card bases expense management solution” and aims to maintain more than 50% of
the market share.
consists of over 3.5 million SMBs and Large Enterprises, a very underserved
market which has resulted in a huge gap. Happay is currently the leader in
“card bases expense management solution” and aims to maintain more than 50% of
the market share.
