SIMPL

Simpl is one of the fastest growing platforms in the Buy Now Pay Later category. Its platform empowers
merchants to improve their customer experience using a one-click checkout, it provides personalized
credit, and loyalty rewards which are catered to encourage customers. It has partnered with 2500+
category merchants online.

Simpl gives credit to users for their online purchases which they can pay after 15 days. The company give
credit to its users based on various factors like their history of purchases, timely repayment, spending
habits, etc. It also gives a one-point platform for all your purchases, upcoming payments and account
activity. Its goal is to create first of its kind merchant focused payments network. The industry posted a
growth rate of 36% and the BNPL sector is expected to reach 100 billion dollars by 2023.

Simpl does not take any documentation from the user which is why the company provides with a very
small credit line of 500 rupees and the credit line is increases gradually as your credit score increases by
making the payments on time and purchase habits. The credit given limit is upto INR 10-15k and the
amount is interest free for 15 days. They handle an average ticket size of INR6-10k. About 80% of the
customers on the platform do not have a credit card.

According to the company, close to 75% of their customers are prime customers, which means they
completed three cycles of repayment with delinquency rates of <1%.

Customer acquisition cost is very high in CC (INR2.5-10K) – Large credit line is required (INR75K+ Credit
lines); Simpl – INR65-75 customer acquisition cost; Less than INR10k credit line

Founded 2015
Location Mumbai
Stage Series A
Funding $7.47M
Valuation $15.1M as on Sep 14, 2017
Annual Revenue $1.32M as on Dec 31, 2019
Monthly Transactions 3-5M
Total transaction since inception 49M+
Pre-approved customer 7M
Active customers 1M+
Margins in business 29%
Cost of funds 15%
Revenue Growth Rate 35% MoM

Investors – IA ventures, FJ Labs, Graph Ventures, Hard Yaka, Green Visor Capital, DIA
Investments, Recruit Strategic Partners

Founders

Nitya Sharma, Co-Founder & CEO

Kumar Ujjwal, Co-Founder

Shrinjay Mewar, Co-Founder

Board Members

Nitya Sharma, Additional Director

Joseph Saunders, Director

Nitin Parakh, Additional Director

Partners include Zomato, BigBasket, Dunzo, Practo, Rebel Foods (Faaso’s), FreshMenu, 1mg, Cure.Fit,
FreshToHome, Furlenco among others.

Revenue Model: The company charges 1.75-2% from the merchant who are attracting more customers
by using the platform, they also charge a late payment fee of INR 250 from customers. On further delay
a fee of 1.3% was charged on the amount borrowed.

User Reviews

- slow increase of credit limit

- start at 500

- OTP Verification for login

- integrated with electric bill, phone recharge

- Offers- Credit limit is not visible

- can't call support, Bot with FAQ's, automated responses

- Can't get otp, support requires otp

- No response after repayment not updated in app

- app stops working during days of repayment

- nothing was explained

- small time span of repayment

- Fixed billing date

- messages are read to decide on the payment limit

Customer Journey
 1. Register with mobile Number

2. Add personal details

LAZYPAY
LazyPay is an all-in-one payments platform that helps its users make payments on purchases by giving
them credit, and also provides loans upto 1Lakh INR at a very considerable interest rate. The repayment
of the credit is also made easier by giving them flexibility on payment of EMI’s. LazyPay provides UPI
based payments, Scan and Pay feature on 0% interest credit for 15 days.

PayU the parent company which acquired LazyPay, was launched in 2002. During this time due to the
massive dot-com bubble. In 2018, PayU’s India division saw an underpopulated credit market in India
and decided to capitalize on it. PayU India had reported to have close to three million merchants using
its platform in India, which is a huge market LazyPay can tap into, so there is no shortage of opportunity
for the platform to grow.

LazyPay is in partnership with close to 250 sites where you can purchase products and services with
ease. In June, 2020 Lazypay has recorded over 100,000 merchants across international payments.
LazyPay has disbursed more than INR 100 crore of credit every month. It attracts at least 75,000 new
users every month.

PayU has also acquired PaySense and merged it with its LazyPay platform. Before acquisition PaySense
had assets under management with worth over INR 500 crore and over 5.5 million registered customers
with total loan disbursement of over INR 1,100 crore.

LazyPay charges late fee on its credit which earlier used to be at the rate of INR 10 per day + 18% GST,
which has been changed recently to charge the users on a slab-based system plus GST ranging from 50
to 500 Rs per day based on the credit amount.
 Credit Amount Late Fee (Rs)
Rs. 200 No late fee
Rs. 200 to Rs. 499 50
Rs. 500 to Rs. 1,999 100
Rs. 2000 to Rs. 4,999 150
Rs. 5000 to Rs. 9,999 300
Rs. 10,000 to Rs. 24,999 400
more than Rs. 25,000 500
Parent Company PayU
Active Customers 4M+
Pre-approved Customers 13M+
PayU’s revenue in FY20 INR 1216 Cr

Customer Journey

1. Sign In/SignUp using mobile number

2. Give permissions and share personal information

3. Share Pancard details to complete eKYC

5. Wait for the KYC verification to complete, which may take upto 48 hours

-user reviews

- Delay charges are too high

Pros

- Personally addressed review on play store