BENGALURU: Sunakash, a travel fintech startup, plans to serve 1 million customers by 2025, as tourism resumes two years after the coronavirus pandemic. SanKash facilitates online and offline travel operators to offer innovative payment plans to its customers.
The Gurgaon-based startup aims to increase partner productivity rate by five times, double the current monthly activation rate, and have a lending book 5,000 crores.
SanKash partners with travel companies that operate both online and offline. It allows customers to make travel decisions faster and increase travel expenses, which helps drive sales. It also offers flexible, pay-on-time payment options that make travel more accessible and affordable.
“After the pandemic, there has been a rise in all-inclusive travel, with travelers wanting to spend for the trip but preferring to make a staggered payment, rather than part with the entire money at once. Akash Dahiya, Co-Founder, Sankash said, “This is where Sankash offers customers the “fly now, pay later” option.
Tourism was one of the hardest-hit industries during the pandemic, with international and domestic travel halted for almost a year since March 2020. With normalcy returning, travel is on the rise again.
“According to Indian Tourism Statistics 2021 at a Glance617.51 million Indians made international and domestic trips in the year 2020, with UAE and USA occupied by Tamil Nadu with over 42% international Indian departures and 23% domestic tourist visits. However, with payment options limited to debit cards, bank transfers and credit cards, around 35-40% of middle class Indians are unable to realize their holiday dreams due to lack of adequate funds. Recognizing this huge gap, Sankash has come up with a unique, concept-based alternative loan solution – ‘Pay-in-Parts’,” said Dahiya.
Travel operators in many smaller cities are integrating and implementing Sancash’s technology to drive sales conversion and drive double-digit revenue growth.
“Sankash is the only player to be associated with Thomas Cook, SOTC, Veena World, Kesari, Balmer Lawrie, TBO and other medium/small players across 40 Indian cities,” said Dahiya.
He added that with trends like revenge tourism and vengeance vacations in the travel industry, the travel fintech and BNPL aggregator saw a three-fold jump in volumes in 2020 as compared to the months before the COVID 19 hit.
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