Bangalore, November 17 2019: India’s emerging B2C commerce platform for new Internet users, Niki has fulfilled nearly 1 million transactions across Hindi, Bengali and Tamil in the last one year. The gross merchandise value (GMV) is likely to hit an annualized run rate of $100 million by March 2020 with the launch, soon, of several new languages.
Niki has built Internet commerce in the style that’s most natural to Indian users: a local agent, whereby a user can replicate talking to a neighborhood human agent in their own language to access hundreds of services. Niki’s proprietary deep technology mirrors and enhances the offline experience leveraging machine learning and Natural Language Processing.
Currently, Niki is operational in 4 Indian languages, and will be adding 7 more languages in the next 12 months. It will also go deeper in smaller towns and cities by adding 25,000 more Tier 2-4 localities by March 2020, to build on the 18,000 localities in its current footprint across the Hindi belt of India.
Says Niki CEO and co-founder Sachin Jaiswal: “Since realigning our focus to cater directly to language-first consumers, we have seen brand virality and 30% month on month growth. For 84% of our Hindi transactions, it’s the user’s 1st transaction online.” said
Adds Melissa Frakman, Founder and Managing Partner at Global fintech fund EMVC which has invested in Indian startup: “Niki is changing the commerce landscape of India by unlocking a completely new user base for 1000s of service provider companies. The exceptional founding team has a uniquely personal understanding of its customers and has re-imagined a voice-first, trust-centered experience to solve for new internet users specific challenges and preferences. From a global perspective, Niki is paving a new path for solving e-commerce and fintech distribution for the world’s emerging internet economy.”