Ashish Kumar, Co-Founder of Paisawapas.com, an IIT Kharagpur startup which is changing the way people shop online. Paisawapas.com offers cashback and coupons on online transactions through Flipkart, Snapdeal, Amazon and various other platforms.The platform allows users to avail cashbacks on their favorite products on various online e-commerce sites. Integrated with intelligent features like Paisawapas Chrome extension and an auto buy feature for flash sale makes it the most disruptive cashback site in India. Paisawapas.com also helps new start ups to promote their services and provide them an exposure to a big marketplace. Recently we had an opportunity to interview Ashish. Lets see what he has to say on his entrepreneurial journey.
Q.What was the motivation behind starting-up?
A.I observed and analyzed the services of Paytm, Flipkart, Snapdeal,etc and was very curious about the cashbacks that these sites offer specially Paytm. Then I thought why not use this as a leverage to attract customers, helping them save some more money and thus built a unique cashback eccentric e-commerce platform Paisawapas.com.
Q.How did the KGP environment played a crucial role in your entrepreneurial journey?
A.I was an active student here at KGP, participated in various hall activities and was also a core team member of Shaurya. The best thing about being in KGP is the plethora of opportunities it has to offer, you are always on a learning curve here.
Q.What were the challenges you face while launching this service?
A. We launched Paisawapas.com in March 2015 and at that time we were a team of two. I being in my 4th year couldn’t give my 100% due to academic constraints, but with time it was recovered. Well, every startup faces a common problem, how to grab initial customers, how to make people aware of our services. We soon realised that we need a bigger team to take our venture to the next level.
Q.What makes Paisawapas.com different than any other casback site in India?
A.We founded Paisawapas.com with the aim of being the most reliable, highest & fastest cashback paying site in India. At Paisawapas.com a user can avail the cashback into their bank account within 4-8 weeks only, we offer the least threshold rate for cashback compared to other sites in market and yet we don’t charge any redemption fee. I believe we have revolutionized the way cashback sites work by introducing the Paisawapas Chrome extension. The extension let the users to know the cashback amount directly on flipkart, Snapdeal, amazon and Jabong product page, thus saving their time and money.
Q.How did your friends and family supported your decision?
A.My family and friends advised me to take up a job as an alternate option. But eventually seeing the growth and turnover of the company, they believed in me and I have never looked back since then.
Q.What are your future plans and how will you scale up?
A.After graduating I am planning to settle down in Bangalore. Our focus is to make Paisawapas universal cashback loyalty platform, a cashback platform for online and offline marketplace as well. Also we are looking forward to intergrate a price comparison platform on our website as well as in extension
Q.Advice to the budding entrepreneurs.
A. College life is the perfect time to the risk. You won’t have this amazing time back in your life. Whether your fail or succeed it doesn’t matter, just give your idea a shot. Experience always counts.
Q.How can E-cell help the startups of KGP, being an entrepreneurship body in campus?
A. KGP being a home to huge no. of students, can act as a perfect platform to launch your startup and build your initial customer base. But unfortunately there is a lack of awareness among kgp junta towards the startups that are on campus. E-cell can create kind of awareness programmes by which every KGPian would get to know about the start ups running in KGP and their services. Initiatives like Kharagpur Angel Network provide a good platform for KGP startups to raise funding. We are also planning to apply through it next year.