refundme.in - India's First Flight Compensation Provider
flight compensation startup
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The Indian aviation sector witnessed the growth of air passengers by 18.6% between January and December 2018, which carried almost 138.9 million passengers as compared to 117.1 million in the year 2017. Evidently, the growth in air passengers would motivate the growth of aircraft, and that eventually bring new innovations and new challenges. While the number of air passengers are increasing, there is still a large segment of air travelers who are not fully aware of the Air Passenger Rights. The Air Passenger Rights were laid down by DGCA (Directorate-General of Civil Aviation) to benefit the travelers but, people are failing take advantage of these rights because of the lack of awareness and technical jargon incorporated in policies as well as the airline manuals.
refundme.in, India’s first-ever flight compensation provider makes people aware of their passenger rights and help them get the compensation they are entitled to get in case of flight disruptions. Akanksha Anshu founded refundme.in in 2016.
refundme.in - Company Highlights
| Startup Name | refundme.in |
|---|---|
| Headquarter | Noida |
| Founder | Akanksha Anshu |
| Sector | Aviation & Travel |
| Founded | April 21, 2016 |
| Legal Name | refund.me India Services Pvt. Ltd. |
| Website | refundme.in |
About refundme.in and How it Works
Aviation Industry Details
refundme.in - Founders and Team
How was refundme.in Started
refundme.in - Business Model and Revenue Model
refundme.in - Funding
refundme.in - Startup Challenges
refundme.in - Achievements
refundme.in - Growth
About refundme.in and How it Works
refundme.in offers a platform to the travelers where they can easily claim compensation in case of any unfavorable circumstances such as – flight delay, flight cancellation, overbooking, denied boarding, and so on. The platform is user-friendly to bring air passengers closer to their rights with minimal or no hurdles.
They make it easy for customers to understand the complex and ambiguous technicalities and laws related to flight compensation; thereby empowering the air passengers. The company takes care of all the air passengers and make sure that they receive accurate compensation that they are entitled to.
More than a company, it is a movement to wipe out the flying difficulties once and for all. refundme.in team is ambitiously helping air passengers across the world by making them aware of their rights and empowering them to get the compensation that they are entitled to. Moreover, refundme.in fights back in court, through official enforcement bodies, to prevent airlines from making unfair gains and provide justice to the air passengers.
Recently, the company has launched a product – "Mr Boie – Your Travel Assistant," an online application to make travelers' life easy. Mr Boie is a travel assistant application who'll assist the user throughout their travel with his intelligence and omnipresence. He'll be there every moment through the users' travel.
Mr Boie is a perfect combination of uplifted technology and solution-centered actions. Simply, Mr Boie can do so many things at one go. With this application, one can –
- Upload travel documents – so that you don't misplace any important document.
- Checklist & Reminder - so that you don't leave anything behind
- Expense Tracker - To never slip out of budget
- Delay Prediction – it can foresee the likelihood of your flight delay
- Airport Details – You will get all the details of itineraries at the airport
- Airline Details – you will get all the details of your terminal, aircraft, gate, baggage belt, and everything
- Cab Booking - You don't have to flip between different apps. You can even book your cab through Mr Boie.‌
Aviation Industry Details
India is the fastest-growing aviation market and is expected to cater to 520 million passengers by 2037 and aims to become the third-largest aviation market globally by 2024. India has the fastest-growing domestic air market in the world.
The Indian aviation sector witnessed the growth of air passengers by 18.6 percent between January and December 2018, which carried almost 138.9 million passengers as compared to 117.1 million in the year 2017. As per the DGCA report, IndiGo topped the list with 54.79 lakh passengers.
India has 464 airports and airstrips, of which 125 airports are owned by the Airport Authority of India (AAI). These 125 AAI airports manage close to 78% of domestic passenger traffic and 22% of international passenger traffic.
Passenger traffic in India stood at 316.51 million during April 2018 - Feb 2019. Out of which domestic passenger traffic stood at 252.92 million while international traffic stood at 63.59 million.
refundme.in - Founders and Team
Akanksha Anshu is the founder of refundme.in.
Akanksha Anshu is a tech-savvy, a visionary, entrepreneur, and founder of 3 successful ventures. She comes from an enterprise technology background, holds an Engineering degree, and has managed various roles so far from IT services to Business Development for the International market.
Through refundme.in she has given suggestions to the government, and the idea and efforts have helped the government to revise the Air Passenger Charter Act. She has been featured by many media platforms such as ETWealth, BW Disrupt, Business Insider, and more for her contribution to the Aviation Industry.
She has expertise in Technology, Marketing, and Automation. She has been mentoring various startups for their IT infrastructure and strategic planning. Besides consultancy, she is a traveler, story-teller, and a motivational speaker. So far, she has been a speaker at various events where she has presented her ideas on distinct topics, from technology to entrepreneur, IT automation, motivation, and web security.
How was refundme.in Started
Akanksha was once traveling from Delhi To Bengaluru for an important meeting, but few hours before the boarding, she received a message saying, "your flight has been canceled." Within the limited time, Akanksha could not find any alternate flights; because of a lack of proactiveness and concern for passenger rights from the airline's side, Akanksha could not attend the meeting. This situation has bothered Akanksha for all the right reasons and has eventually led her to establish refundme.in.
Akanksha has spent a good time abroad and was aware of Air Passenger Rights in countries like the US and UK. She researched to check if any such rights existed in India and found that India did have such rights. To her surprise, Akanksha found that only less than 1% actually receive their flight compensation, and almost more than 1 billion Indian currency was unpaid. Her experience supported by the statistics she came across in her research, she realized that there is a huge gap in the aviation industry concerning public awareness of Air Passenger Rights. With refundme.in she took on the lead to improve awareness among Indians about their Air Passenger Rights.
Chayanika Goswami
refundme.in - Business Model and Revenue Model
refundme.in operates on a B2B and B2c business model. For the services it provides, refundme.in charges individual customers on a case on case basis while for corporates, they have a a range of packages starting from Rs. 3000/month to 22000/ yearly for the clients to choose from.
refundme.in - Funding
refundme.in is a bootstrapped company and doesn't have any funding till date (December 2020)
refundme.in - Startup Challenges
As refundme.in works closely with the dynamic and huge aviation industry, there have been numerous challenges in the way of refundme.in. The challenges faced are,
Decoding Indian Regulation‌‌In the whole process, decoding DGCA air passenger regulation was one of the most challenging parts for the refundme.in. Akanksha took help from legal authorities in understanding the technical jargon associated with the DGCA regulation and evaluating the benefits that the air passenger rights offer.
Lack of Awareness‌‌After decoding, making people aware of was another. refundme.in conducted a survey in India and abroad to get comprehensive data about the awareness of air passenger rights. The findings were shockingly disappointing, which suggested that there is a long way to go to make this world fully aware of their rights. 70 percent of the flyers were not aware of their rights, 17 percent did not think they were eligible for compensation, and 13 percent did not know how to file a claim. Hardly 1% of the total population knows about it, and this number is like a grain of dust in front of the country having the world’s second-largest population. In addition, the DGCA rule ambiguous and complex for an ordinary person to understand.
refundme.in - Achievements
One of the biggest achievements for the refundme.in team is that they have been successful in positively influencing the DGCA rule and bringing in more accountability and making the Air Passenger Charter Act more accommodative for the passengers.
Earlier, the compensation to air passengers under the DGCA rule was limited to the flight delay, cancellation, overbooking, or denied boarding. In 2018, refundme.in took the initiative and made an appeal to include compensation for baggage delay and baggage lost to the Indian Government. The government has accepted the request and revised Air Passenger Charter Act early this year (2019), and the revised act will be regulated soon.
Chayanika Goswami
refundme.in - Growth
refundme.in stands out in the Indian market because of its services that empathize with the problems of air travelers. The company targets not only the Indian market but also the European market and help passengers get their compensation. Since the idea resonates with the daily life struggles of people who travel via air, the company acquired 100 + users within the first year of establishment and growing amazingly to date. The company is working towards making more and more air passengers aware of their rights.
We envision that in the coming years, each traveler would be aware of his/her passenger rights; airlines get more responsible towards their passengers, and together they would make each other grow.
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