Happay: The Financial Guru

With an estimate at around Rs. 2,400 crore annually, Happay announced its plans to acquire over 10,000 small, medium and large enterprises by 2019. Varun Rathi, COO and Co-Founder of Happay elaborates on how their platform is re-inventing companies’ expense workflow by deploying cashless cards and other expense modules.

- Anushruti Singh

Major highlights in 2017 

Happay is an end to end expense management solution linked to payments platform and it caters to SMBs and large enterprises. Last year, the product has evolved a lot and the main targets of the company were small and medium size companies that wants to get digitized. When we started there were no such solutions in the market, we realise that there is gap in the SMB space because nobody was designing any solution for them. We moved a ladder a bit and realised the larger companies with 3K to 10K employees have been managing their expenses manually for the last 20–25 years. And also the process has not evolved at all, because nobody has thought about it becoming a problem and getting out of hand with the change in technology. Now these companies are coming up front and asking about automated solutions. This has been a major milestone for us, we have able to target some of the largest enterprises in India and get them on board and that has been the major focus for us right now.

Solution Adoption Rate in SMBs space

The adoption rate has been great. Our customers are majorly from the SMBs space and the major adoption was recorded during the demonetization where our partners started to sell on our behalf. Financial institutions are one of the front end customers, where they need card based or financial solutions; they have become a major channel for us. There were no challenges earlier, but now the companies have realized that they need to record all the expenses they spend.