Scaling between Valleys — Yuva Pay — from India to the US via Europe
Yuva Pay — INDIA’s only AI-Driven Secured Offline Mobile Payment Solution for the LAST MILE — is scaling worldwide with some solid links to Frankfurt.
Today we want to highlight a story of an Indian company that we have been acquainted with within 2020, and that has designed and developed a Neo-Banking solution, YUVA PAY, a one of its kind solution catering to the rural market supporting both smart & feature phones.
What makes this product exciting and a really viable one is that the end-user can access all basic financial services in a single platform without having access to any internet connection.
Designed with financial inclusivity in mind, it has the potential to act as the bridge for all the disenfranchised citizens.
For one year, the company has been under the radar and working closely together with our joint-venture partner, Mainstage Incubator, a company with HQ in Frankfurt, that builds bi-directional “Innovation Bridges” between global ecosystems.
Recognizing it´s global potential, the global network was therefore activated, and the link to ExpertDojo came naturally since ExpertDojo is committed to investing in over 1,000 companies over the next 10 years and supporting the early stage ecosystem around the world.
Today, all parties are happy to disclose that YuvaPay has been selected and working into Expert Dojo’s Accelerator Winter Cohort 2020 (as one of 12 startups in the batch from Ghana, Philippines, Belarus, Egypt, India, US, Canada, and the UK).
With this milestone, Yuva Pay is one step closer to spreading not only in the US but potentially all over the world.
On this development, Prashanth Naik, founder, and CEO of YuvaPay comments: “YUVA PAY is one of the few startups in the world which is fostering financial inclusion at the grassroots level globally. We started our pilot in a small region called Udupi District (Karnataka) in India a year back and saw great traction and customer stickiness. Today with the help of Mainstage and Expert Dojo we are scaling Globally”.
Brian Mac Mahon, Ceo, and Founder of Expert Dojo, also adds: “We are so pleased to have had the opportunity to invest in Yuva Pay. It’s very rare that we get to invest in a company that is growing at 1000% annually with such an important humanitarian mission. With over 3.5 Billion people on the planet who are without banking or internet access, we see so much potential for Yuva Pay to be the one stop destination for the whole market. We predict a Unicorn within 5 years and that makes us very happy.”
Brian also discloses: “During the Expert DOJO initial program we saw the company close out their funding round with many more investors still inquiring how to get involved. As we now enter phase two of the Expert DOJO program we will be focused exclusively on growth for Yuva Pay. We are excited at the prospect of that opportunity.”
Also Mainstage, via Swen Wegener comments: “Building bridges between ecosystems and scaling projects is our goal, and YuvaPay´s success story is a milestone for us (and also our region) and a flagship project that we want to continue. We look forward to the next steps and are very positive about 2021”
All parties are indeed astounded with Yuva Pay’s 2020 accomplishments. They have rapidly gone from $100K platform revenue a month to $1M a month and are now going to $10M a month. That makes a 1,000% Growth Year on Year and also a double fact to be celebrated since they just closed their latest funding Round in India.
Some Highlights about Yuva Pay so far: Seed Round Raised — $250k; Customers — 79K+ Revenue; $82K+ Partnership — VISA, Yes Bank, ICICI Bank, ICICI Prudential, e-Governance Department Karnataka India.
As the next steps for Yuva Pay will be to raise $2.5Mn in Pre-Series A round for customer acquisition, team set-up, license fees, global licensing expansion (Africa, SEA, MENA & South America region), branding, and advertisement.
Frankfurt Valley is happy to be on the first row of this story and to make it visible not only in Hessen, Germany but worldwide as well via our platform Global Valley.
Scaling between Valleys — Yuva Pay — from India to US via Europe was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.