How a small-town boy with Rs 12k built a Rs 200 Cr turnover business, landed Amazon, Google, Adidas, PepsiCo as clients

#success #startups #startupstories #furniture #interiors

Tushar Mittal started his interiors business SKV (Studiokon Ventures Private Limited) in Gurugram in 2009 with minimal investment.

Tushar started SKV with just Rs 12,000 that he saved during his short stint at DLF. He took no external funding over the next 11 years, and built SKV into a Rs 200 crore turnover company with over 250 employees.

Tushar believes the industry features no set platforms, norms, or processes. Thus, his team had to develop tech systems and exclusive technologies to streamline business processes and provide clients with better experiences.

SKV started as an interior design and service provider, and it diversified to develop its own furniture category and range.

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How a small-town boy with Rs 12k built a Rs 200 Cr turnover business, landed Amazon, Google, Adidas, PepsiCo as clients

Tushar Mittal, Founder and CEO, Studiokon Ventures Born in 1982 in the small town of Rudawal, Rajasthan, Tushar Mittal studied at a local village school. His parents, who ran a kirana store that sold groceries, were in debt. They had taken loans from local lenders and relatives, and were under pressure to return them.

The Ideal Neobank: We're still a long way from the perfect digital bank | Sifted

#fintech #startupstrategy #neobanks #challengerbanks #digitalbanks

Former Lloyds Bank director Alessandro Hatami explains what he thinks digital banks need to do next and feels that the so called neobanks are not doing the right thing.

He opined that there are three things banking customers fundamentally need — and are worth disrupting to look like in ‘The Ideal Neobank’:

1. A Payment Account: Imagine a bank that allows you to seamlessly pay anyone, anywhere: be it your babysitter, your favourite retailer or a holiday home abroad.

2. A Credit Line: Instead of an overdraft, personal loan, credit card, car finance or a mortgage you get a credit line. The bank knows you and will advance cash (with guarantees if required) as you need it. You make one payment a month — like a subscription — to pay for it.

3. A Savings/Protection Tool: You have some excess capital and the bank enables you to buy any product in the market that allows you to protect and grow it. And your bank would sell you any such product in the market that meets your needs — whether or not it’s their product or a third party’s.

Many banks and fintechs claim they already offer this, but he is not sure their customers agree. These neobanks still sell financial products rather than financial solutions.

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We're still a long way from the perfect digital bank | Sifted

Over the last decade, so-called "challenger" banks like Monzo, Starling and Revolut have served as beacons of opportunity, promising a new way of banking. This has prompted their predecessors - the incumbents - to undergo several phases of digital transformation; something I watched first-hand when I was a digital exec at Lloyds Bank.