Oct 19, 2016 02:40 PM IST IST | Source: PTI

Mahindra Group's SmartShift targets 1 mn stakeholders by 2019

The company, which has completed one year of operations, has so far garnered 10,000 stakeholders and claims to clock about 1,200 transactions every day.

Mahindra Group-owned SmartShift, an aggregator for cargo owners and transporters, is targeting to build a community of one million stakeholders in three years.

The company, which has completed one year of operations, has so far garnered 10,000 stakeholders and claims to clock about 1,200 transactions every day.

"Going ahead, we will continually focus on nurturing customer relationships and move beyond mere transactional business to add significant value to customers' lives," Kausalya Nandakumar, CEO, SmartShift told reporters here today.

The company has been growing 50 per cent month-on-month, and is servicing over 500 pin codes in two cities and the last mile requirements of over 25 corporates, she added.

"Currently operational in Mumbai and Hyderabad, the platform plans to extend its services to two more cities during the current financial year as part of its overall expansion plans across India," she said.

According to industry estimates, the logistic space in the country is pegged at USD 130 billion with up to 40 per cent being in the intra-city space.

SmartShift is the first in-house startup incubated within the Mahindra Group.

Elaborating on the company's revenue model Nandakumar said SmartShift is "revenue positive" now, and works on a commission-based model, which is collected from the transporter.

Since its inception the company has collaborated with LendingKart for collateral free loans to business owners, Mahindra Insurance Brokers for vehicle insurance and Indian Oil Corporation for fuel incentives for transporters, it said.

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