India is home to nearly 50 million microbusinesses. These include fitness centres, paying guest facilities, cable operators, appliance rental businesses, milkmen and school bus operators, among others and are recurring revenue businesses.
Microbusiness, however, still face one challenge - a collection of payments from customers.
Advancements of digital payment services and technology may have made a collection of payments easier, but tracking is difficult. Not all customers utilise the same online payment services and cash-flow management and tracking finances is a huge concern for microbusinesses.
Realising this issue, Harshal Ingle Ashwani Rathore and co-founded SpiderG in 2015. The Pune-based firm is an on-time, one-click payment collection and disbursement application to pay salaries, utility bills and expenses for micro-businesses.
With SpiderG, micro-entrepreneurs can send automated recurring e-bills to customers with the help of a payment link, follow up for payment by sending reminders and keep track of each of these payments. The platform eases and structures the book-keeping process by enabling entrepreneurs to carry out all transactions through one platform.
The company has been awarded the Singapore Fintech Gladiators Top Startup award and also received the Maharashtra Innovation Award in 2018. It is a part of the Microsoft Emerge X Programmes and the JioGenNext Startup Accelerator.
CEO and Co-founder, Ashwani, is an engineer from NIT Allahabad and has done his MBA in finance from the Asian Institute of Management in Manila. Initially working with Cognizant, Ashwani started his entrepreneurial journey in 2007, the time he started food e-commerce venture Mom’s Kitchen.