Anand Mahindra, chairman of Mahindra & Mahindra
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 on Wednesday.
The company has been growing 50 per cent month-on-month, and is servicing over 500 pin codes in two cities apsrt from fulfulling 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 percent 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 to provide collateral free loans to business owners including Mahindra Insurance Brokers and Indian Oil Corporation.