Founded in 2012, it started with a succinct idea: payments should be as easy and quick as sending a text message on a phone. With that concept, Happay built their first product – an application that allows users to pay just about anyone, anywhere, with the help of their mobile number alone. Bank account details was not at all necessary for the transaction.
Meanwhile, they observed that, the manner businesses pay for and arrange their expenses is still the same for quite some time, unlike the consumer banking and the banking procedures which has evolved. At this point, Happay had their vision shifted onto this platform – making payments for businesses simpler and easier, and to provide a new tool for the business firms to scale their revenue and their focus was on business expense management.
Happay is a FinTech company whose core vision is to give businesses the transparency, predictability and control they need and demand over business payments. Its cloud-based expense management platform interlinked to Visa and MasterCard is a first of its kind in India. The key is its integration of the card and the platform which help SMEs and Enterprises to easily fund business payments, track them, set tight spend controls and streamline expense reporting from purchase to accounting.
Happay also enables organisations to set up expense policies within the system which prevents leakages and frauds. Data analytics tool helps the decision makers to manage cash flows and budgets with higher efficiency.
Currently, 1000+ businesses use Happay to manage different types of business expenses like imprest, reimbursements, allowances, domestic and international travel spends, digital marketing spends, etc. and they are looking forward to more collaborations. They are seed funded by Prime Venture Partners. They have investors and mentors from Angel Prime namely Sanjay Swamy, Shripati Acharya, Bala Parthasarathy and Amit Somani who are veterans in payments, business software and technology.
Both co-founders are IIT Kharagpur grads – Anshul and Varun, batch 2010.
To Anshul’s credit was two years of experience in Microsoft Research Lab with 2 patents and 4 papers published in International Journals. However, during last 3 years Anshul has gained deep insights and experience into the functioning of payments platforms around the globe.
Coming from a business family, Varun spent two years at corporate with TATA. Entrepreneurship runs in his blood, with the background that he has come from. He is obsessed with technology and looks for ways to make life easy with it. And as they like to put, Varun sells what Anshul builds.
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When asked about the strategy, Anshul says, “We as a startup want to maintain the aggressiveness of our team and want to be a part of startup ecosystem.That is why we are participating and we as a team always think that our opponent is very strong so that we can give our best to conquer that.”
He comes up with a beautiful one-liner when asked about their futuristic remarks – ‘We believe in present and have the confidence in future.’
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