Meet Mehul Jobanputra, Co-founder and Jimish Jobanputra Co-founder and CTO, Zingoy- India's highest cashback offers site bringing you a chance to save extra money on all your online shopping.
It all started in 2015, with an intent to make the best of the cashback market and establish Zingoy as the best cashback platform for online shopping.
Mehul recalls, “The idea was to develop a platform that aids users with great cashback and propels loyal users by rewarding them.” Like any start-up the initial journey of Zingoy was also not easy, Mehul highlights, “The start wasn't easy. We faced setbacks and challenges in the initial phase as the market wasn't that developed back then.”
But in no time, success came to the duo and the credit goes to their background research of the market and the business model. Jimish informs, "We started with 3 models for customers from different categories. The B2B model caters to companies looking for corporate gift cards and prepaid cards at the best prices. The B2C model serves customers with online shopping deals, coupons, gift cards, and cashback offers on 300+ top merchants in India and in addition. Lastly, the C2C model helps users sell gift cards to another customer of Zingoy with safety assurance from the company.”
For the unversed, the market of cashback is not new or of today's time. It dates back to the 1980s when financial services companies started offering cashback to their credit cardholders.
In the online business market, where numbers play a big role, Zingoy’s team is leading in the sector with 300K+ subscribers and more than 400 registered merchants. Mehul strongly believes that numbers are going to increase during the festival season 2021 and they are all set with the marketing strategies for the same. He adds, “Our agenda is to focus on influencer marketing. Also, we are preparing to reach a younger audience with our 'Zingoy Ambassador programme', wherein the influencers will get the opportunity to run, learn and earn mentorship programmes with paid incentives.”
Talking about the USP of the brand, Mehul states, “We have an extra unique feature for desktop/laptop offered by Zingoy called 'Zinni'. With the help of this innovative feature, users can get the cashback on the basis of their location, removing the need of searching for cashback on the site”.
It’s always the passion that defines the rate of success and when it comes to Zingoy, the graph of growth reflects the intensity of passion of a team of 25 professionals, who are working day in and out. Jimish, who believes that success has no shortcuts, informs, “We are a bootstrapped company and currently, we have no plans of pitching investors. However, if any investor is eager to invest in our product range and offerings, we would happily consider it.”
Ask them about the future plans, pat comes the reply, “We have set a futuristic plan to reward every online or offline shopping transaction and are advancing towards it. We have already taken a step in the same direction by launching ZingoyRupay prepaid card.”
Mehul concludes, the future of the cashback market is promising as more and more people are now taking or using the benefit of cashback. In addition, cashback companies like us are also helping users greatly in making economic deals.”