Page 29 - The 10 Most Innovative Startups in Pune 2019
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“
We work on flat,
decentralized teams,
each with decision-
making authority, and
our people have the
freedom to approach,
own, and solve
problems creatively.
We’ve intentionally
chosen this path over
a traditional hierarchy,
and it works much more “
often than not
Koustubh Rajepandhare
Founder & Director
solve problems creatively. We’ve Ressy charges a specific percentage Founding Partner, and Eight
intentionally chosen this path over as fee on final amount for every Capital. Other angel investors
a traditional hierarchy, and it works transaction done through its app who participated in this round are
much more often than not. from the merchants. We charge ex-Infosys veteran Mohandas Pai
How it Works? 10-15 per cent of the final billable and Partner & Co-founder, Aarin
amount to the merchants. We help
Capital; Akshay Garg, Co-founder,
Ressy is a real-time app for both merchants with customers when Komli Media; Jeljo Johny Kottoor,
– customers as well as merchants. they actually need them, and they Director, ProV Venture Investments
The discounts are fully controlled love to pay us for that. (Singapore); and Ketharaman
by merchants. Customers can avail Funding & Expansion Swaminathan, Founder, GTM360.
15 to 50 per cent discounts through The funding will be used to
Ressy. In many cases, customers Currently based out of Pune, the develop sales and tech team.
are also offered 100 per cent start-up has aggressive plans to Besides, the start-up will also use
discount by merchants. expand in 10 other cities, adding the fund for expansion in sectors
Currently, the app only accepts over 5,000 restaurants and 1 like Wellness, Adventure as well as
million users by the end of this
cash, but in future, the team plans year. With 35 per cent repeat modern Retail. This round would
to integrate cashless model also to ideally be used to create a playbook
provide a seamless experience to customers, Ressy plans to scale up in Pune covering entire city across
customers and merchants.Without its orders to 3,000 by this month various service sectors before we
end in comparison to 750 orders
mobile only presence, real-time last month. launch in other cities. We are sure
activities would have been difficult. about our target cities and would
That’s the sole reason for us to go To support such growth plans, be there soon in next few months.
mobile only. With Ressy, you can Ressy, recently, announced to We plan to add wellness (spa and
only get discounts once you reach raise $400k in its seed round of salons), adventure, leisure, and
the outlet. funding through LetsVenture. The modern retail in next few months.
round was led by Vikram Chachra,
September 2019 29
