KhaaliJeb is an app which makes payments and banking simple, fast and rewarding for youth and students.
Live as a full-fledged UPI PSP app for over a year now and sponsored by Kotak Mahindra Bank, KhaaliJeb has a program where its users can avail discounts on brands catering to those below 29 years of age.
“We have on-boarded 350+ restaurants and salons in Bangalore,” says Prakash Kumar, one of the founders, who currently handles ideation, product and design.
How KhaaliJeb was born
“It was the year 2015. I was in the final year at IIIT Allahabad and placements were underway. I wasn’t keen on a job. On a weekend break, I was headed home and booked an Ola cab from the railway station. The payment experience on the app was so smooth and seamless that it made me wonder whether this idea could be extended. I spent some time researching digital payments. Back in college, I discussed the idea with Aman Verma (android development), Wilson Birua (sales and marketing) and Sudhanshu Gaur (technology) and our start-up was born,” explains Prakash.
All the founders are graduates from IIIT Allahabad. Prakash also acknowledges the founding members – Sumit Kumar, Pratham Devang, Vishal Gupta and Rahul Kumar.
To make the app appealing to students, the team decided to rope in restaurants that often offer corporate discounts but ignore the student community. “It’s challenging for brands to engage with students and youth. We stepped into this space with KhaaliJeb,” explains Prakash.
Over the next six months, the team hopes to build digital savings accounts and goal-based savings products for the youth and extend its Discount program to categories like ecommerce, e-learning, food ordering, entertainment etc.
“We are currently raising a seed round of INR 2-3 crores. We plan to close the seed round in the next four months,” adds Prakash.
