This Indian startup guarantees instant cash rewards every time you shop


02 February 2021 16:52 STI

By Paytm, Fastag,
Pune (Maharashtra) [India], Feb. 2 (ANI / NewsView): We’ve all wondered why earning loyalty points or similar rewards is never really rewarding. Endless terms and conditions make obtaining and redeeming them a tedious experience.
However, the members of Gainon are getting exactly what we expected; the platform offers instant cashback on all expenses at over 100 major brands. Gainon’s “Loyalty Cashback” is instantly added to the member’s Gainon account after each successful payment. The amount of Cashback varies depending on the brand but goes up to 50%. Members can redeem for any of the listed brands or for handpicked essentials, such as Paytm and Fastag top-up.
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Gainon was launched in September 2020 and is already generating a payment volume worth Crores through a voucher system. The company claims to have over 10,000 members and grow very quickly through word of mouth recommendations. Pranav Deo, the founder of Gainon, also suggested that the average value of a payment (per user) increased from Rs 1,500 to Rs 5,000.
Loyalty points, miles and cashback platforms have been around for a very long time. According to research, Indians are part of 11 different loyalty programs at the same time; Add to that the confirmation timeframe, the restrictions during the exchange and the short validity period, it becomes a heavy task just to manage them.
Gainon seeks to address these inefficiencies and rekindle loyalty programs by recognizing each individual in the company and personalizing the brand’s discounts / offers along the way. The company believes that unification will create a win-win situation for businesses and members.

Pranav himself has encountered such frustrations on several occasions: “I have flown at least once a year from London to Mumbai which has earned me frequent flyer miles, but when I have wanted to redeem the miles, they had already expired or the airline no longer had seats available for the award flight. “
He added: “I had gold status in one program but I was at the lowest level of another, it made me think, why can’t all brands understand my potential then assign a level / an offer? “
Pranav Deo was bitten by the entrepreneurial bug at a young age, during his school years in the UK he launched a travel website (NowGoPlaces) to counter the challenge of ever-changing airfares. It also included options to book luxury helicopter shuttles for as little as Rs 5,000.
Now 22, Pranav is one of the biggest names in the startup ecosystem as Gainon’s first investors and mentors. One of them is Kedar Dani, who was on the core team of UiPath, a startup valued at over $ 10 billion today. Kedar says, “Gainon solves a big problem and India is the ideal market to scale with the growth of online payments and the adoption of digital solutions.
Others include Jay Tahasildar, who is a successful entrepreneur and managing director of Mercurius IT. Jay says: “I met Pranav when he was only 16 and he was full of ideas, but what stood out to me was his ability to convert the ideas into a viable product.
And Vijay Mastakar, who has served as Group CFO / CXO in large conglomerates in Asia-Pacific, the Middle East and Africa. Vijay says: “More than a good idea, I am a mentor in this startup due to the persistence and courage of Pranav. I see brilliant startup decks every day, but without the founder’s determination and commitment, it will never succeed.
Pranav believes there are many steps to take with a lot to learn along the way, however, insists Gainon will always keep a consumer-centric approach and obsessively focus on improving the business. user experience.
This story is provided by NewsView. ANI will not be responsible for the content of this article in any way. (ANI / NewsView)

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