Niki, Bharat's "full-stack Ramu Kaka" today announced a tremendous 1000 per cent revenue growth in the current financial year owing to its unique "Do It For Me" model of online commerce and services. Over the last 3 years, Niki has served over 550,000 households from Bharat, with most of them accessing the internet economy for the first time.
Inspired by the western markets, the first phase of the internet economy in India was designed as a "Do It Yourself" model. This feels alien to Bharat customers. Bharat customers are used to a culture of service. They interact in their local language and need someone whom they can trust and who can assist them in decision making.
Commenting on this development, Sachin Jaiswal, Co-founder & CEO of Niki says, "Niki's pioneer Do It For Me (DIFM) model is built with the most advanced proprietary conversational technology that understands and fulfils customer's needs via voice. Our value chain has a strong supply side gatekeeping that ensures quality goods and services. This is coupled with a digital and human stack that provides end to end proactive assistance to the Bharat customers. The experience is akin to having a trustworthy full-stack Ramu Kaka in the service of your household."
By 2022, Niki plans to expand its operations in 10 new states covering more than 2000 small towns and aims to capture 20 per cent market share of 150 million households. With it's unique Do It For Me model, Niki is able to deliver trust and service to Bharat households at scale. The company is unlocking the world's largest consumer growth opportunity.
With the mission statement "Nobody left behind", Niki is ushering Bharat into the internet economy. Niki is Bharat's very own "Full Stack Ramu Kaka'' delivering trust and service to customers. Our voice and local language technology stack coupled with a fintech architecture is built to scale rapidly.
Niki is backed by US-based venture capital firm EMVC, Unilazer Ventures, Ratan Tata, Japan's Recruit Partners and Haresh Chawla among others. Niki is building Internet Economy 2.0 and has served over 550,000 Indian households already with the aim to capture 20 per cent market of the 150 Million Bharat households by FY 2022.
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( With inputs from ANI )
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