STARTUP NAME: Pay2Ghar
FOUNDER: Dr K Nagendra Prasad
Pay2Ghar a one-stop transparent solution for property rental management. Pay2Ghar aims to provide a safe, secure, explicit, yet sophisticated Proptech platform that bridges landlords and tenants.
The app lets landlords collect property payments (rent, maintenance bills, repair claims etc.) and offers tenants various payment alternatives (Credit Card/ Debit Card/ Internet Banking/ UPI and even by Cash).
FEATURES OF PAY2GHAR:
- Rental Receipts
Need to show up your rental receipts to file your Tax returns and savings?
Pay2Ghar allows downloading rental receipts with all necessary information provided for the months you paid rent.
- Rent Instalment Management
Want to save up for your future rent payment instead of collating money at last minute?
Pay2Ghar provides Rent Instalment Management to deposit your saving daily, weekly, fortnightly or randomly in a month in our app wallet.
- Tenant Identity Receipt
Often faced an issue with proving your identity as a tenant residing in a property not listed in your name?
Pay2Ghar provides a unique service of creating an Identity receipt when you pay your electricity bill. This receipt has the landlord’s name, Unique Service number of the Electricity bill and the tenant’s name, which can be downloaded as PDF.
- Cashback offers
Why not use an app that rewards you for “On-Time” rental payments than paying traditionally without any incentives?
Pay2Ghar provides exciting cashback offers for your every “On-Time” rental payment for the tenant and incentivise the landlord for listing their tenant and making them make “On-Time” Payments.
- Landlord Service Packages
Your tenants just vacated? Needed to revamp the look and feel of your house at a discounted price without involving much manpower?
Pay2Ghar also provides hassle-free entry and exit support services at a heavily discounted price where the landlord has just to need to select the package he wants to opt for, and Pay2Ghar will take care of manpower, the desired look and feel.
Dr K Nagendra Prasad is the founder of Pay2Ghar. The Cofounder and crew interviewed him and here is the summary of the discussion.
How did this idea strike you?
Being a tenant myself and facing all the hassles of rent payment, it struck me that, what if I could pay rent from anywhere through digital payments. It was the inception of Pay2Ghar.
The journey so far (When you launched, how is the traction so far?)
Pay2Ghar was launched in August 2018, and the numbers are growing at 10 times, which is a very encouraging trend.
What’s your revenue model?
We have various schemes for property owners like Gold and Gold Plus. Pay2Ghar Luxury Rooms and E-commerce are other revenue models.
What are your future plans with your startup?
We are coming up with offices in all metropolitan cities to cater to the needs of our customers in those cities.
Who are your competitors?
We don’t believe in competition, and we consider ourself as our competitors. We have set some benchmarks, and we push to go beyond.
What is the problem you are solving for your users?
We let our users pay rent from the comfort of their home or office through their mobile. Most importantly, we save our users the trouble of meeting the owner and facing his wrath every time rent is delayed.
What is the biggest challenge you faced as an entrepreneur while establishing your startup? How did you overcome it?
Many of us have dreams to achieve big, but Entrepreneurship comes with a lot of challenges. The biggest challenge faced by me was to take my startup to the next level. Mobilising funds on my own, finding the right team, finding people who could work with same zeal and enthusiasm, getting technology, etc. are other challenges in my journey. I kept going; nevertheless, my idea and vision have materialised because of my determination. Also, I got great support from my mentor and friend Raj Nervati, CEO of Hug Innovations.
What is the biggest learning so far in your entrepreneurial journey?
My entrepreneurial journey has been a learning curve. I have learnt about Time management, Crisis Management, Human Resource Management and Optimum utilisation of limited resources.
Who is your mentor/role model? What’s the best lesson you learnt from them?
My Role Model is Y.S Jagan Mohan Reddy. He is a great inspiration to me, and from him, I learnt that success is always waiting, but you need to work for it.
What’s your tip for newbie entrepreneur?
Never chase money, the money will always follow the success
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