Startup Name – Merrchant ( www.merrchant.com)
Founders – Navrajvir Singh (24) and Ishan Mishra (28)
Year of Establishment – April 2017
Location – Indore (M.P.)
What it does – Streamlines various business activities including Accounting
Sector – IT Software, SaaS Product
Funding – Bootstrapped
A discussion over a cup of coffee leading to entrepreneurship is a common phenomenon. But, the entrepreneurial bug can bite out of nowhere, even while watching a movie.
Inspiration and Entrepreneurship
Bollywood blockbuster, Bahubali did the same for Navrajvir Singh (24). Bahubali gave rise to an inevitable courageous storm in the heart of this born entrepreneur, and the decision to do something extraordinary for the community was made!
Being an expert in financial accounting, Navrajvir observed the amiss quickly.
There was no specialized software solution available in the market that can cater to all the business necessities including accounting, HRM, POS, customer management, employee management, and others. Businesses, for decades, despite technological advancement, were utilizing specific software for a specific business process.
This hit an idea to create an all-encompassing business operating solution that Navrajvir has translated in his product- Merrchant.
An Amazing Beginning
To market the product digitally, Ishan Mishra was a no-brainer decision for Navraj who soon joined as Co-founder and COO. With 9 years of hands-on experience in digital marketing and in-depth knowledge of monitoring, implementing and maintenance of web technology, Ishan decided to take this concept to the whole new level.
Managing the SEO activities and digital marketing for Navraj’s two renowned resorts (Lakeview Resort and Palmtree Resort), Ishan has always been meeting and exceeding the expectations. Hence, an entrepreneur duo was formed.
The icing on the cake was Ishan’s successful digital marketing for BJP for M.P. elections 2013 and for U.P. in 2016. Certification of appreciation from BJP IT Cell and infamous MP Shri Nandkumar Singh Chauhan proves the capabilities of Ishan.
It was a difficult start, turned messy in the middle, but it is awesome in the end, says Navrajvir Singh.
Merrchant is designed and developed in such a user-friendly way that any individual with small training can start using it. Managers and business owners, with the help of this solution, can get a crystal clear picture of their finances.
To make this one-of-a-kind solution for businesses, Merrchant’s mobile app will fulfill all the necessities. Soon, this app will be available for both the Android and iOS-based devices encompassing almost every feature that is available on the web-based operating system.
How did you build the core team (co-founders and initial employees) – How did you meet and how did everyone align to the idea? What is the total team size?
Ishantech (Ishan’s Digital marketing agency) was once doing search engine optimization for Navraj’s 19 Again (E-commerce women’s heel website) and later the SEO of his resorts ‘Lakeview Resort’ and ‘Palmtree Resort’ followed by SEO of ‘Raletta Foods’.
Ishan’s constant and premier deliveries impressed Navraj to partner up with him for his upcoming venture Merrchant.com
Ishan has also done Digital marketing for BJP for MP elections in 2013 and for UP elections in 2016. He has also received certification of appreciation from BJP IT Cell and infamous MP Shri Nandkumar Singh Chauhan. (Attached below)
Give us a background of your core team and yourself with the age.
Navrajvir Singh Chhabra: Co-founder and CEO. Expert in online advertising, e-commerce and financial accounting.
- Have run and sold an e-commerce website“19 Again” in 2014.
- Stool first for Adobe premiere pro, while the second for computer jingle at IPSC IT FEST 2010, held at Mayo College. Also participated in IPSC IT Fest, LKS Gotan 2008 for presentation skills.
- Dropped out of Demontfort University England to start the e-commerce website
- Good expertise in the field of Confectionery based Food processing, Equity Trading, Film direction, and real-estate construction.
Ishan Mishra: Co-founder and COO. IT Engineer and Expert in digital marketing.
- Ran IT Services firm, Ishantech for 7 years, before merging with Raletta.
- Holds B-tech degree in IT from MIT Ujjain.
- Information technology specialist with technical expertise to the implementation, monitoring, or maintenance of web technology and.
- Also, Good Expertise in the field of political advisory, political marketing, event management, concerts and artist management.
What has been Revenue, traction, and growth from the date of inception till now?
Merrchant is successfully active at www.merrchant.com, seeking for Series-A fund to aggregate marketing with greater pace.
Merrchant has gained 260 unique paid users since its inception. It aims to gain 10000 daily active users by the end of 2019.
Other than Merrchant, Founders are also indulged in Raletta Technology (A merger between Ishantech and Raletta Foods).
Raletta Technology is a deep core service-based IT company which caters local and foreign clients.
What is the one thing that sets you apart from your competitors and what’s your revenue model?
In the world of online business, getting started can be the hardest part. That initial traction—or lack thereof—is what projects entrepreneurs along with a path of success or failure.
To succeed, Merrchant aims to focus on one—at most two—revenue streams, and pour Merrchant’s energy and focus into those.
Once primary revenue streams are established and the foundation is secure, Merrchant will start scaling the business.
Merrchant’s product leads to several revenue streams. Following are the same:
- Subscription Based: Primary Revenue Stream needs major focus.
- Billable services: Secondary Revenue Stream, needs usual focus.
- Big Data: Side Income, needs the least focus.
- YouTube and Blog: Side Income, needs the least focus.
MSME’s need just an Internet connection. That’s it. Merrchant is ready for them.
What Reliance Jio did in the field for telecom with its predatory pricing, Merrchant will do the same in the field of business operating solutions forever. Merrchant fintech believes that it has cracked the business model required to become a market monopoly.
The problem worth solving: There’s no business operating software solution that can offer enterprise level features all at one place, for free.
Merrchant’s Solution: To provide an absolutely free cloud-based business operating system with a much better interface and features than current expensive options available in the Global market like SAP and Zoho. Moreover, giving competition to other application wise competitors too like Xero (in accounting), Trello (in project management), Shopify (in POS) or Salesforce (in CRM).
Merrchant is developed on the Laravel framework of PHP Language. Uses MySQL database and dedicated hosting servers for data encryption and security.
Unlike traditional, on-premises, or self-install software’s, Merrchant’s web OS is hosted on premium servers of companies like Softlayer, AWS and Hostgator, which can be accessed remotely on any pc, on any mobile device, any browser or any computer operating system. Compatible to the entire ecosystem.