Simpl

Simpl is India’s leading Buy Now, Pay Later (BNPL) and 1-tap checkout platform, revolutionizing digital payments for merchants and consumers. The company addresses friction in online transactions by offering instant credit, seamless checkout, and financial flexibility. Simpl’s unique value proposition lies in its AI-driven risk assessment and zero-interest credit model, enabling merchants to reduce cart abandonment by 30–40% while empowering consumers to pay later without hidden fees. 

Core Products and Services

• Pay Later: Interest-free credit for 15 days, with spending limits of ₹1,500–₹20,000.

• 1-Tap Checkout: Frictionless payment integration reducing checkout time to under 2 seconds.

• Bill Box: Automated utility bill payments with deferred settlement.

• Pay-In-3: Split purchases into three installments over 90 days (no interest if paid on time).

• Merchant Solutions: AI-powered fraud detection, cart recovery tools, and customer retention analytics.

Key milestones

• Raised $70–83 million in total funding, including a $40 million Series B led by Valar Ventures (2021).

• Partnered with Razorpay and SugarBox Networks to expand reach to Tier 2/3 cities and low-connectivity regions.

• Launched Pay-In-3 (interest-free installments) and Bill Box (automated bill payments) to diversify offerings.

• Recognized as India’s fastest-growing BNPL platform, achieving 17x revenue growth in FY22 (₹31.6 crore revenue).

Business Model & Revenue Streams

• Merchant Transaction Fees (70% of FY24 revenue): Charging 1–3% per transaction, varying by merchant size and vertical.

• Late Payment Fees (20%): ₹50–200 charged to users for delayed repayments.

• Subscription Fees (10%): Premium analytics and marketing tools for enterprises.

Geographic mix

• Urban India: 70% of revenue (Bengaluru, Delhi, Mumbai).

• Tier 2/3 Cities: 30%, growing at 45% YoY.

Customer segmentation

• B2B (90%): Enterprises (Zomato, BigBasket), D2C brands (Snitch, Boult Audio), and SMEs.

• B2C (10%): Users aged 18–45, predominantly tech-savvy urban millennials.

Top Clients & Partnerships

• Zomato: Simpl’s largest partner, contributing 15–20% of transaction volume.

• BigBasket, JioMart, Licious: Key players in grocery and D2C segments.

• Razorpay: Integration enabling 1-tap checkout for 1 lakh+ SMEs.

• SugarBox Networks: Collaboration to enable payments in low-connectivity areas.

• Practo, Purplle: Vertical-specific partnerships in healthcare and beauty.

Future Outlook & Strategic Priorities

• High-Margin Categories: Targeting fashion, beauty, and D2C brands with 60%+ gross margins.

• International Expansion: Piloting in Southeast Asia and the Middle East via partnerships.

• Tech Innovation: AI/ML enhancements for dynamic credit limits and hyper-personalized offers.

• Regulatory Scrutiny: RBI’s tightened norms for unsecured lending and PPI-based credit.