Introducing MishiPay: A fully fledged mobile self-checkout solution to the inconvenience of physical stores
Generating value for more than 46 brands across grocery, convenience, travel, fashion, and variety stores. MishiPay’s revolutionary technology is already live in 18 countries and growing. Thanks to their effortless integration of online checkout convenience with physical shopping, MishiPay enable customers to walk into a store, scan their desired items with their mobiles, instantly pay for them, and leave. No queues, no hassle, no pain. Just plain convenience.
Moreover, their theft proof system allows companies to hugely boost sales by driving shoppers to purchase 14-35% more with their app than they otherwise would at physical tills. Furthermore, customers can expect a significant decrease in their user retention costs as personalised product recommendations reel in users and encourage greater spending across the board.
Overall, MishiPay is shifting the sands beneath the retail sector’s feet and still not stopping. With a flourishing culture shared by over 50 employees and estimated yearly revenue of close to $8 million, MishiPay is no doubt a force to be reckoned with.
What we liked about MishiPay
With such a multifaceted offering as in the case of MishiPay, it’s difficult to choose what we found most attractive in them from an investment perspective since it’s uncommon to come across a fully-fledged product that ticks all the boxes. MishiPay services an enormous market, they offer a solution to the very real problem of long queues and unnecessary labour costs, but most of all, they bridge the virtual and physical worlds and show tremendous potential for guiding the future of retail. A world driven by data that MishiPay is already collecting, analysing, and leveraging to improve KPIs across the board for their different clients.
The fact that MishiPay clearly understands where the market is headed and is already well positioned to capitalise on these future opportunities is why we found them to be such an excellent start-up to invest in.
What we liked about Mustafa and Tanvi
Great individuals are a rare thing, but one of the trends we’ve noticed with start-ups like MishiPay is that talent attracts talent. Ever since Mustafa’s best friend, Tanvi Bhardwaj, joined the company in 2015 as CTO, this power duo began their steady climb to success.
It is said a man’s reach should exceed his grasp, and it is precisely this attitude that the duo encompass. Their vision for constant innovation aligns so perfectly with our own spirit at Nauta that we would have struggled not to invest in them. Moreover, their clear and concise understanding of customer pain points and long term sustained growth make Mustafa and Tanvi the very embodiment of entrepreneurship and mark the gold standard of what we look for in all our partners.
What MishiPay thinks of about us
When asked to comment on his thoughts towards Nauta, Founder and CEO of MishiPay Mustafa Khanwala had this to say:
"For us, it was always about finding the right investor, one who didn’t just have the bank balance but also reflected our passion and core values.”
What the industry thinks of MishiPay
MishiPay are one of the fastest growing start-ups in the retail space. Having already signed contracts with such companies as Decathlon, Leroy Merlin, Mango, Eroski, Dufry, Flying Tiger, and SPAR, to name just a few. Moreover, in February 2019, both Mustafa and Tanvi were named on Forbes’ 30 Under 30 list. That same year they closed a £3.5 million Series A round as well as receiving the Startup of the Year award from the Institut du Commerce Connecté.
MishiPay is revolutionizing the retail landscape, bridging the divide between physical and digital, and excitingly pushing forward into the unknown of tomorrow. And they are not alone, with a swathe of equally energized partners who want to share in their journey and future potential, MishiPay is truly the golden child of the retail industry.
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