Tag: Amit Kumar

Business, News

IDFC FIRST Bank signs up with Indian Navy to offer Honour FIRST banking solutions

Aug 10, 2021 by Rekha Nair 0 Comments #Amit Kumar, #Commodore-Pay and Allowances of Indian Navy, #Head – Retail Liabilities, #IDFC FIRST Bank, #Neeraj Malhotra

Mumbai: IDFC FIRST Bank announced the signing of a Memorandum of Understanding (MoU) with the Indian Navy to offer Honour FIRST, a premium banking solution, to serving personnel and veterans of the Indian Navy.

The Honour FIRST Defence Account is specially designed keeping in mind the needs of the Armed Forces and its veterans. Account holders of Honour FIRST are supported by a dedicated team of defence veterans.

The MoU for Honour FIRST was signed at the Naval Headquarters in New Delhi between Commodore Neeraj Malhotra, Commodore – Pay and Allowances, Indian Navy and senior officials of IDFC FIRST Bank.

Commodore Neeraj Malhotra, Commodore-Pay and Allowances of Indian Navy, said, “I welcome the initiative of IDFC FIRST Bank to offer customized banking solutions to suit the needs of the Indian Navy and its personnel.”

Speaking on the occasion, Amit Kumar, Head – Retail Liabilities, IDFC FIRST Bank, said, “This is indeed a proud moment for us. The association couldn’t have come at a better time as the Indian Navy commemorates the 50th anniversary of India’s historic victory in the 1971 war. We look forward to serving the banking needs of the prestigious Indian Navy as its safeguards the maritime frontiers of our country. This association is rooted in our nation-first approach to banking and reiterates our longstanding commitment to meeting the needs of our Armed Forces.”

The Honour FIRST Defence account comes with a range of privileges and features such as a zerobalance salary account that earns up to 5 per cent interest per annum and a netbanking and mobile App that offers superior user interface and experience.

Honour FIRST Account holders get a free enhanced Personal Accident Insurance Cover of Rs. 46 lakhs for both on-duty and off-duty incidents. This not only covers accidental death but also total and partial permanent disability. This Personal Accident Insurance Cover includes a Child Education Grant of Rs.4 lakhs, and a marriage cover of Rs 2 lakh.

In addition, other best-in-class features include a top-of-the-line Visa Signature Debit Card with no annual charges, free Air Accidental Insurance cover of Rs. 1 crore and complimentary airport lounge access at domestic airports, twice a quarter.

Honour FIRST Defence Account also offers free lost card liability and fraud protection of up to Rs. 6 lakhs, purchase protection against burglary, theft and damage up to 90 days from date of purchase up to Rs. 1 lakh.

Account holders of Honour FIRST are eligible for a ‘Free for Life Credit Card’ with variable APR and 10X Reward Points, 1.5% forex markup, complimentary access to select spas and lounges at domestic and international airports, travel insurance and other benefits round the year. Privileges also include 10X reward points on spends greater than Rs. 20,000, 6X rewards on all online spends, complimentary for life & interest-free credit for purchases and cash withdrawals.

Other benefits comprise free unlimited ATM transactions across all domestic ATM’s, free online payment transactions, unlimited cheque books and anywhere banking across the Bank’s network of branches and ATMs.

The Bank is constantly investing in state-of-the-art technology to bring digital innovations to its customers, with a view to enhancing customer convenience and experience.

Business World, News

Retail Tech Start-up Shoopy Raises 250000 USD Seed Funding from Campanile Investments LLC and Redcliffe Capital

Mar 8, 2021 by Rekha Nair 0 Comments #Amit Kumar, #co-Founder, #IndarKriplani, #Shoopy

New Delhi: Delhi NCR-headquartered retail tech start-up for Indian SMBs, Shoopy has raised 250,000 USD seed funding from US-based Campanile Investments LLC and Delhi-based investment firm Redcliffe Capital. This is Shoopy’s maiden funding round since the start-up’s inception in January 2020; Shoopy will be using the funds raised to accelerate its growth engine by optimizing its existing product(s), scaling its platform and business activities to reach out to more customers/users, and also to come up with newer products/offerings in the near future.

Shoopy — co-founded by IIT-Roorkee alumni Amit Kumar and IndarKriplani provides an all-encompassing suite for SMB owners to help take their businesses digital and increase/grow their revenues. The start-up is on a mission to give local/small retailers across India the ‘tech advantage’ in a bid to help them compete with the country’s online e-commerce giants, and to simplify the digital transformation journey for a diverse range of SMBs.
Shoopy plans to change the tech landscape for SMBs in India with the support of all their investors Shoopy plans to change the tech landscape for SMBs in India with the support of all their investors i.e. AjitPai – PaiPaipal Ventures, Ambuj Chaudhary – Campanile Inverstments LLC, Dheeraj Jain – R Redcliffe Capital, Nitin Passi – Lotus Herbals, Manjoj Mehta – MTC Group and Sunil Kumar Singhvi – South Handlooms.

The Idea for Shoopy sparked in the year of 2016-17 when Amit was working at India’s leading online eyewear firm. Wherein he interacted with multiple vendors and realized that the vendors are having very limited softwares available to run their business digitally. These softwares are expensive and difficult to operate. In turn, impacting their business. On the funding, he shares, “We are delighted to announce our first-ever seed funding; the capital raised through this round will be instrumental in helping us optimize and scale our existing products and business. We are also ramping up our team and planning to launch more products and functionalities for our target audience. The SMB sector in India has been mostly unorganized and deprived of technology so far, and we at Shoopy are constantly striving to change the scenario by ensuring that the best, easy-to-use and most-affordable technology solution(s) is available to each and every SMB in India.”, Amit Kumar, Co-founder, Shoopy.

IndarKriplani, Co-Founder, Shoopy says, “I come from a business family. My father has a grocery shop which has been running for 60 years now. Growing up, my daily task would be to go to nearby shops to collect due payments for goods sold whilst picking up business skills. Post working in Yahoo Small Business US from 2014 till 2019. I finally decided to move back to India to pursue my startup dream with Shoopy. As the e-commerce boom has changed customer behaviour in our country in recent years, it has become imperative for SMBs to adopt modern technology(ies) to stay relevant. Furthermore, the Covid-19 pandemic through the last one year has clearly shown us that taking the online route for sustaining and growing one’s business is no longer a choice, but a dire necessity. At a time like this, we at Shoopy are bridging the gap in the market by offering a state-of-the-art, full-stack solution dedicated to small and mid-size businesses, thereby taking care of all their diverse needs/requirements when it comes to digitization of their businesses.”

Within a short span of around one year, Shoopy has already developed a loyal customer base of 40,000+ retailers and/or SMB owners pan-India, who are depending on Shoopy’s mobile app as the core system to manage and run their online business. As of date, on a monthly basis the retailers on Shoopy’s platform are doing business of over 4 Crore per month. On the other hand, Shoopy is currently witnessing 50% month-on-month growth, and the start-up is hoping to continue the momentum and onboard more and more retailers/business owners on its flagship platform (app) in the upcoming months.

Shoopy’s free-of-cost business app helps retailers and local business owners go online in a few seconds, and in managing (invoicing, billing, inventory tracking and management, among other aspects) their shops easily. Apart from the business app, the team also provides a free platform named ‘PhoneKhata’ for retailers, vendors, and other SMBs to manage their ledger, and has also recently launched the ‘Shoopy consumer app’, which helps consumers/buyers to discover nearby stores around them on the Shoopy Platform. Shoopy’s app is multilingual (available in Hindi, English and Hinglish languages), easy-to-use and truly made for Indian retailers.

Highlights of Shoopy:

● Business Growth by providing a complete e-commerce solution to SMBs along with online payment and a highly customised and intuitive online ordering platform
● Business Management like Invoicing, inventory or ledger management.
● Connecting local sellers with their buyers. This helps in communication offers & promotion at the same time taking feedback on services offered
● Branding and Personalisation, aiming to help the retailers in their technology adoption journey. Shoopy ensures that business is truly personalised and the same trust is maintained while doing business online.

About Shoopy:

Shoopy is committed to provide a world class technology platform to millions of SMBs in India. Shoopy offers a suite of services including Online Storefront, Catalog Management, Order Management, Billing and Payments solutions. SMBs can quickly build their online presence and digitize the business. Shoopy helps local retailers in managing (invoicing, billing & inventory) their business easily. Be it tracking the sale of the week, new customers in a week, products/items sold etc. In the digital transformation journey, India is adopting technology fast, customers want the comfort of online shopping. Shoopy helps in achieving this goal very easily. The app is available in Hindi, English and Hinglish language.