Hookolupay

Startup Name

Hookolupay

Founding Year 2018
Founders  Aziz Ali/ Arif Ali
Business Category

IT

Startup Stage

Early Stage Revenue

Support Required from The Nest

Fund, Market Connect

Investment Required

10, 00, 00, 000

Type of Entity

Proprietorship

Website

www.hookolupay.com

Startup’s Objective

HookoluPay aims at easing and organizing cashless payments for myriad services through a one-stop digital platform as well as generate emloyment avenues in the region.

Market Need

A major population in India prefers the traditional method of making payments. In the wake of the Indian Government trying to push the people towards digital transactions, the need of the hour is of a digital platform offering ease of transactions for myriad services under a single roof.

Product/Service description

HookoluPay is an Online B2B (Business to Business) platform in India for services like 24×7 Online Money Transfer to any bank of India, using NEFT & IMPS (Domestic), AEPS (Adhar Enabled Payment System) for deposit, withdrawal and balance check, Postpaid bill payment, Landline bill payment, Utility bill payments like Electricity and LPG, Insurance Premium Payment, Travel Bookings like Flight (Domestic & International), Bus, Railway Bookings, Prepaid Recharge Card, Data Recharge Card, DTH Recharge, New DTH Subscriptions, Pan Apply, POS and mPOS Machines, etc.

Customers/Users Franchise Partners : 10% Distributor : 30% Retailers ( Travel agents/DTP Centers/Hotels/Resorts/Mobile Outlets and other retail outlets) : 60%
Revenue Model

The startup charges ID Fees from the Channel Partners (Franchisee/Distributor/Retailer) and keeps a commission for different services in all transactions. They also earn through direct selling of devices as well as giving them out on rent.

Current Traction

Since inception, the startup has got over 200 retailers and 10 distributors on board, earning an approximate revenue of approximately Rs. 35 Lakhs.