Although Paytm got pretty famous during the demonetization period, there existed smaller startups that attempted to offer user-friendly services as well.
It’s been a year to demonetization. And startups that gained popularity last November during this period of cash crunch are continuing to relish their popularity, and they have learned their lessons to expand their business.
“Until demonetization, some people knew about our venture. We were trying to get the word out, but note ban gave us a good push. Standing in queues became a big hit for us,” said Satjeet Singh Bedi. He is the co-founder of Book My Chotu. This is a Delhi-based startup. And it started 15 months ago as a provider of cleaners. The startup also offered to hire hourly helpers to stand in ATM queues during demonetization.
“Though demonetization is long over, we have since had multiple referrals and orders. People also use our services in unique ways like getting our men to stand in hospital lines and to deliver small items. That’s how we have been growing,” added Bedi.
Bedi continues to look forward to starting a franchise model to expand his business outside Delhi. He stated that 30 percent of the business is still all about standing in the queues. But at the time of demonetization, it was 90 percent.
The startup co-founder was also interested in using this ‘standing-in-a-queue’ offer for the Apple iPhone 8 launch queues in India. But, the idea was dropped. Usually, for such events, people start queuing up the previous night itself. However, this time, the hype was very little for the mobile. Not just this, users have also given feedback in the form of ideas like providing dog walking services. The company soon discontinued these kinds of services, because they came with a lot of responsibilities.
Walnut: Tracking App
Another startup that quickly took full advantage of demonetization succeeded in offering a user-friendly and timely service. The name of this tracking app is Walnut. Just in few days of demonetization, the app launched a ‘find an ATM with cash’ feature to ease the public.