The founders of ConfirmTkt, Sripad Vaidya (right), Dinesh Kumar Kotha (centre), can be seen engaged in a fireside chat with Nitya Sharma (left), Founder and CEO of Simpl, a Merchant First Checkout Network on solving the Indian railways ticketing system through ConfirmTkt.
The fireside chat was organised at Simpl’s headquarters in Bengaluru on Thursday to celebrate the successful integration of Simpl’s 1-tap pay with ConfirmTkt to enable a seamless seat booking experience for millions of customers without any transaction failures.
Talking about the company’s journey over the last 8 years and acquisition by the ixigo group in 2021, the founders underlined the importance of being able to pivot the business model at the right time to ensure the company’s longevity and long-term success. Kotha, responding to questions from the employees of Simpl, shared anecdotes of how without diluting significant stakes in their company, they were able to build a successful and profitable business. “There was a 3 year period when we were actively looking out for investors and our efforts were not yielding results so we resorted to every trick in the book- from taking loans from landlords and service providers to stay afloat”, said Kotha.
“Interestingly, we raised equity free Rs 3 crores during our initial years which helped us continue on our mission”, added Sripad.