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HomeStartupsFosun-Backed LetsTransport Cofounder Quits To Begin Fintech Startup

Fosun-Backed LetsTransport Cofounder Quits To Begin Fintech Startup


Ankit Parasher will proceed to be part of LetsTransport within the capability of a board member and shareholder

Salt is a banking answer for SME, particularly for corporations that deal in a number of sectors and currencies

LetsTransport counts Fosun RZ Capital, Bertelsmann India, Mitsubishi Corp as traders

Bengaluru-based tech-enabled logistics market LetsTransport cofounder Ankit Parasher has determined to exit from the corporate and launch Poziom Ventures that can function a fintech platform referred to as Salt. Parasher, nonetheless, will proceed to be part of LetsTransport within the capability of a board member and shareholder.

Highlighting that fintech is sector agnostic, Parasher in an interplay with Inc42 stated, “All startups are fintech at core, though they do not present themselves like that. Even if you say that LetsTransport is a logistics company, it’s still there is a lot of financing and technology that goes into building the platform.”

The IIT Kharagpur graduate says his determination to launch a fintech startup was taken solely after brainstorming a number of ideas and enterprise fashions. He added that his studying curve started and grew with LetsTransport.

In April, two months after finishing his exit from LetsTransport in February, he lastly zeroed down on Salt. Parasher stated Salt is a banking answer for small and medium enterprises (SME), particularly for corporations that deal in a number of sectors and a number of currencies. Parasher couldn’t share a lot particulars concerning the enterprise mannequin as the corporate continues to be in an early stage.

He stated plans are on the anvil to increase enterprise outdoors India by subsequent yr, and is actively searching for inventors to kick off its first spherical. The corporate at present employs 5 individuals, and will likely be hiring extra throughout verticals as the corporate grows.

Parasher had based LetsTransport in 2015, together with Pushkar Singh and Sudarshan Ravi.  The 2 cofounders will proceed to be part of the corporate. “A few months back, my cofounders and I came to an understanding that I want to work on something out of LetsTransport and have been very supportive of this decision. We all are still close friends, and we will remain the same way our whole lives,” Parasher stated in a LinkedIn submit.

LetsTransport facilitates inter-city aggregation of mini vehicles and huge automobiles for sectors corresponding to retail, FMCG, ecommerce throughout B2B and B2C. It additionally offers intra-city logistics options for on a regular basis errands like shifting homes, shopping for furnishings, electronics amongst different issues. Clients can ebook a truck utilizing the corporate’s on-line platform.

The corporate has raised $20 Mn funding until date from main traders like Fosun RZ Capital, Bertelsmann India Investments, Mitsubishi Company and others. LetsTransport is now investing in geographical and technological enlargement and integrating know-how so as to add extra shoppers and for scaling up the corporate’s operations.




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