<aside> 📌 Elevator Pitch
Mission: Make money simple
Simpl, is a short-ticket mobile-first lending platform which offers easy credit at points of sale and at ecommerce checkout to offer a one-click experience for customers. With now over 5000+ category leading online merchants like Zomato, Bigbasket, Dunzo, Practo, and Cure.Fit, Simpl is building fully digital, frictionless, transparent, inclusive and personalized credit based payment platform.
Simpl provides its users: Buy Now Pay Later, One-click checkout (no OTP required), Full buyer protection and instant chargebacks, one bill for all purchase and its merchants: higher cart conversion (99% payment success rate), increased basket size, loyalty & retention.
</aside>
<aside> 📌 **Problem Statement
Solving small-ticket lending challenges through a technology-first approach and partnership model.** 60% of all ecommerce transactions in India still done with cash. With 25% of all digital transactions failing at checkout, the heavy dependence on cash is attributed to lack of trust and poor user experience.
</aside>
| Parameters | Buyer: ICP1 | Merchant: ICP2 |
|---|---|---|
| Age | 18-40 | 25-50 |
| Gender | All | All |
| City | Tier 2 | Tier 2 |
| Employment Status | Data Engineer at an IT firm | Business Owner B2B2C (or companies with single-channels/brick & mortar stores) |
| Marital Status | Single | Married |
| Problem Statement | Low on cash towards EOM | High drop-off from Shopping Cart (abandonment) |
| UPI based payment apps failing often/operating slowly | Payment Failures CC/DC/UPI and wallets | |
| Unable to get Credit Card issued for various reasons | high CAC, Non-viable margins thinning margins further | |
| Lack of trust in traditional system - ‘hidden charges/penalties’ | Credit fraud risk from customers | |
| Bothered to track refund debits | ||
| Time vs. Money | Money | Money |
2021:
Simple Users = 7M BNPL Users in India = 10-15M Market Size est. = $3-3.5B Digital Payments UPI = $300B
2026 Projection :
BNPL Users in India = 80-100M Market Size ets. = $40-45b Digital Payments UPI = $1T
Bank Accounts holders in India (approx. all holding Debit cards)= 800M Credit card users = 59.4M (Source)
Users looking for transactional results to complete action. Some informational search as well.
Users are also looking for specific informational content on how BNPL works
Other similar searches:
