StartupTalky is one of the strongest community in India and we have a lot of professionals who are doing great in their lives. To share their learnings and inspire as many people as we can, we are interviewing all the StartupTalkers in our "Know the StartupTalker" series.
Today, we have Mr. Yash Sharma as our interviewee. Yash Sharma is the founder of one of the best Forex starup in India, Quick Forex. You will learn a lot from this story of Yash Sharma in his own words.
Who are you?
I am Yash Sharma and I am the founder of Quick Forex which is making foreign exchange and international money transfer, easy and feasible for people.
Describe your product/service ?
Quick Forex is India's first e-commerce initiative in retail foreign exchange and international money transfer, offering customers with complete services of forex products consisting of currency notes, prepaid travel cards, traveller's cheque, demand drafts and wire transfers in the most inexpensive and convenient way. Quick Forex helps its customers to buy forex for several purposes such as Personal Travel, Business Travel, Education, Emigration, Employment, Medical, etc. through simple and convenient use of any Digital Platform.
Also read: List of Fintech Startups in India
How did you come up with this idea?
Having a traveler trait in myself I hated the long queues and fuss of visa, currency, ticketing, travel package, etc. Any traveler wishes to have an easy and great outing experience instead of worrying about cash, bookings and all. I just thought of giving people the pleasure I desired and that's how Quick Forex came.
How did you come up with the name of your Startup?
Well we provide easy and quick delivery/ solutions to all travel and currency needs of our customers, so the name Quick Forex.
What did you do just after getting the idea?
I had a discussion with my father, who also happens to be my mentor, I told him how people were missing out such and opportunity and how we could gain out it. In spite of me being in my teens and having such a brain of using Digital platforms for Travel and Currency, my father just couldn't resist the idea and he has supported me throughout.
Tell us about your business model?
We are B2C mainly, but when for remittances and medical travel we tend be B2B.
What is your revenue model?
Foreign Exchange & Remittances, they are our biggest revenues generators.
How did you acquire your initial customers?
When we started off we gave out really good deals and offers for global customers, and our digital base was the game changer for us. In no time we had about 20-25 national & international customers monthly, Social Media is really great.
What options do your customers have? And how are you different from them?
If you look for options there are many big and small names out in the market, but none of them is having the certifications and authorizations as us. Plus the advantages of door step delivery and digital transactions, globally, is where we gain.
What was the most challenging part of your journey till now and how did you overcome it ?
Initially while discussing business ideas to people they would not show interest in my model. They would judge me by my age, being a young entrepreneur. But off late I have had a lot of opportunities explored and achieved, now people from the same business, way older to me by age and experience, walk up for work and I just end up smiling.
What is the source of startup capital? Also Share some details about the investments that you have been able to fetch for the business till now.
Well latest we've got a funding of US$200,000 from our global investor. And we've barely had any investors before.
How did you meet your team(co-founders) and what is their background?
This is whole sole my entity.
Where do you want to see your startup in the next 3 year?
We've already had great 2 years when it comes to expansion and buildup. In the next few years we're going to be present Pan India, and serving more of our Foreign customers. There are plans in the running, we won't disclose much details as of now.
What entrepreneurial hacks/online tools/ services/ apps do you use to stay focused and keep your day productivity?
I follow Twitter and LinkedIn as I believe they are best mediums for announcements and generating opportunities. But I'm way too active on Instagram, seeing what latest trends are flowing the in the market and what is going to be the next hot topic.
What are your strategies to build awesome work culture in your company?
See I've a very friendly nature and I imbibe the same in my day to day professional dealings be it my associates or staff. This helps us to work in a better coordinated and free some manner, also we would always want the best for each other, professionally & personally alike. Being from the travel domain we together have some short trips whenever we get the opportunity.
What do you look for in a candidate who aspires to join your company?
Honesty, loyalty and dedication, other than willing to learn are the only qualities or say personality traits that I look forward too. Unless these are present I don't think they can stand by our work culture.
Any suggestion/quote that you would like to share with budding entrepreneurs?
Just believe in yourself and your ideology, age doesn't give you anything if your not willing to take challenges and experience is what you can count on when building your pace. Its the young minds and intellect that succeeds, that's why I guess off late I get to see and meet many Young entrepreneurs. I think I am influenced by all the start ups and their vision. Our country should make use of the technology and manpower, which we have. Its bringing us the ease of living our life.