“The company has turned profitable for all transactions starting October 2018 and has registered a 200 crore gross merchandise revenue (GMV) annualised at current run rate this year,” he said.
Jaiswal said that the company was looking at achieving an annualised GMV run rate of 1,800 crore by the end of FY20.
“We will use our artificial intelligence-based proprietary technology to build a product for Bharat. We are working on removing all interfaces for the masses, keeping everything similar to the offline world, where every service and product is availed through the medium that users are most familiar with – conversations,” said Jaiswal. Currently live in Hindi, the platform will be available in multiple other Indian languages by the end of the year.
The company also has a plug and play SDK, which has been integrated into web/mobile applications by businesses in the BFSI and e-commerce sectors to help provide transactional services via automated personalised messaging. It has distribution partnerships with companies like Federal Bank, HDFC Securities, ICICI Bank, Early Salary, ePaylater and Karbonn.
The company said that it witnessed a double-digit growth in the average order amount to over 300 per order in 2017-18, with a 430% growth in revenue. It currently has a user base of over three million customers.
Niki.ai currently works with over 60 partners, and is working at integrating other services like stockbroking and insurance on its platform.