Delhi based Ecommerce Logistics Service Delhivery has acquired GharPay’s Cash collection services. However, the amount of the acquisition is yet to be disclosed.
With this update, ‘GharPay’ brand will now be a part of Delhivery. However, the GharPay team will now focus on building a payment services, Cash on Delivery software and management solution called Clink.
GharPay launched in 2011 by Arpit Mohan and Abhishek Nayak, worked in facilitating cash payment for online merchants. That is while shopping online, if a user choose COD option, GharPay’s executive collects cash or cheque and share the invoice to the customer at their doorstep. Later the delivery is done either by the ecommerce company or a third party logistics service. GharPay charges a percentage of the transaction as a commission which ranges between 2% – 7% depending on the client.
The client list of GharPay boasts of over 750 clients with Times Internet, Zomato, Groupon and Jet Airways to name a few. It had raised seed funding of $300,000 from Sierra Atlantic founder & angel investor Raju Reddy and Sequoia Capital. Later it also raised a round from Blume Ventures with Sequoia and Kae Capital also participating in that round.
GharPay had earlier launched, Cash-Before-Delivery scheme but it seems that the idea did not really work. Market Experts believe that Indian Customers are more friendly and at ease with COD based payment option.
GharPay Team is now busy rolling out the beta version of their new venture Clink.