Perpule, a fin-tech startup which provides self-checkout and omni-channel solutions, has today raised $650,000 in a funding round from Kstart Capital — a sister firm of Kalaari Capital. This was first reported by ETTech.
Along with Kstart, the fundraising round also saw participation from venture fund Venture Highway and Raghunandan G, co-founder of TaxiForSure. Commenting on the startup, Abhinav Pathak, CEO of the company, said,
Our vision is to ensure waiting in queues is a definite thing of the past.With improved systems, we are saving customers’ time and thus improving the overall experience.
Perpule was founded by Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle in September 2016. After realizing the potential of building a fintech platform that busts queues and facilitates easier checkouts, provides a self-checkout, queue management, omni-channel engagement and payment platform for offline stores, they founded the startup.
Perpule 1Pay enables mobile app-based self-checkouts and queue management solutions for offline stores which improve the user experience. Customers can use the app to discover stores and the available offers running, this ensures a good connect between the retail stores and its customers. Further, the app also serves as a true omnichannel platform allowing customers to shop in store or get the same products online.
India’s retailing industry is said to be $600 billion in size, of which only 10 percent is organized and works mostly on card machines and cash payments. Indian retailers spend only three percent of their revenues on technology, which is estimated to be around Rs 12,000 crore in India.