Imagine a scenario where your roommate acts like a complete jerk and moves out the house without informing you. And on top of that, he asks to cough up his share of the security amount. Fuming in anger, you just want to throw the money onto his face and get over with it. However, on cooling down a bit, a wise thing came to your mind and i.e. you decide to transfer the money to his account.
However, you are still mad enough to talk to him or ask him his account details. Fortunately, for such situations, there is a cool app called Chillr that lets you “Keep Calm and Transfer Money”. With this app, you can simply transfer money from your bank account to your phonebook contacts, without having to know their account details.
The Cool People Behind Chillr
Many a times, people identify a trend in the industry and start their venture to capitalize over it. It was early 2012, when the founders of Mobme, a wireless solutions and value added services firm; Sony Joy, Vivek Steve Francis and Sanjay Vijaykumar founded the next opportunity in mobile.
“Mobme was growing manifold in these 4-5 years, in terms of sales and revenue. Yet, in terms of number, our growth was deeply constrained. We wanted to break free from this business to get into B2B2C market, where our reach and growth wouldn’t be constrained by monopolistic forces of the market,” said Sony Joy, founder and CEO at Chillr.
While they were doing a market study for the new solution, the startup dabbled with the ideas looking in healthcare, fintech and education domains. “We realised that banks have the highest traction. And having briefly worked with ‘National Payments Commission of India’, we knew what our next bet was.” he added.
They knew their next venture was a multi-bank platform, which would sit on the robust banking system and enable faster transactions. Next three months, they started bouncing ideas and polishing their product. The MVP was completed and ready by September 2013. But the official launch happened sometime in February 2015, since they required an RBI approval. The team utilised this time in re-testing the product, looking at the crucial aspects like technology, infrastructure and security.