• Great companies

George Zachariah- CEO of ExTravelMoney.com


Great companies:Can you please tell a little about ExTtravelMoney?

George Zachariah:ExtravelMoney.com effectively brings the hyper-local e-commerce model to the foreign exchange & remittance market, by creating India's largest ‘forex search engine’.

We are an online aggregator and marketplace of forex services provided by RBI approved Foreign Exchange Companies & Banks in India.

We help people such as students and travellers going abroad or foreign travellers in India, to book forex services online at super low rates, directly from banks and money changers.

Foundation Year:

Dec 30, 2014

Featured Person(s) Name and Designation:

Brief details of the founders

1. George Zachariah, CEO

15+ years of banking experience with a consistent history of leadership, driving sales and successful operational management in retail foreign exchange and remittance space. Worked with Reliance Capital, Centurion Bank of Punjab, after which he founded Finex Forex.

2. Ashwin Narasimha, CTO

9+ Years of experience in IT, including web development, server administration, Enterprise architecture, Software development. Previously co-founded Veeble Softtech, a web infrastructure management company with a client base across 130 countries.

3. Nisanth Issac, CMO

7+ years of business development and digital marketing experience. Knowledgeable in planning, developing and implementing effective marketing campaigns. Well versed with marketing analytics and attuned to changing trends in marketing and SEO.

Achievements

1. Selected for NASSCOM 10K StartUp programme – 2016

2. Winner CISAT - Dr APJ Abdul Kalam Startup Award (FinTech) – 2016

3. Finalists of India FinTech Awards, 2016

4. Winner, "IT Startup of the Year" category, KMA-NASSCOM IT Awards 2017

5. Winner "Best Emerging Startup in Kerala - 2018" by Project Management Institute of Kerala (PMI Kerala)

Milestones

1. ExTravelMoney launched with 3 money changers on board and 2000+ forex stores in 2015. Currently, 25+ money changers and banks with total 8000+ forex stores across India have been successfully added to our online forex platform. The major ones are Thomas Cook, EbixCash, Unimoni (formerly UAE Exchange), Cox & Kings, Muthoot Forex, Muthoot Fincopr, Manappuram Finance, Orient Exchange, BFC Forex and Transcorp.

2. Also, in the last 3 months, we have successfully concluded negotiations with RBL Bank and Axis Bank and have on-boarded them to the ExTravelMoney platform.

Great companies:What are the services ExTtravelMoney provides to its customers?

George Zachariah:The services offered by ExTravelMoney are ;

1. Buying Foreign Currency

2. Selling Foreign Currency

3. Buying Forex Card

4. Money Transfer Abroad

Great companies:How do you manage your clients?

George Zachariah:We have a dedicated customer support team to address the issues of and provide stellar service to the people booking a transaction through ExTravelMoey.com

For customers, we are a way to search for and book the best forex rates in their locality easily from the comfort of their home. All forex related processes like rate enquiry, order booking, KYC sharing, ease of payment with different payment methods, quality customer support etc are available under one umbrella. We educate the customers & help them to complete a foreign exchange/remittance transaction within the limits prescribed by RBI & FEMA rules.

Forex offered through ExTravelMoney is cheaper than market rates, so customers benefit by saving money.

They also save time by finding the cheapest and best-rated forex store near their location online itself.

Great companies:What is the main strategy to attract clients?

George Zachariah:There are a few factors that mainly attracts customers to ExTravelMoney.com when it comes to booking forex transaction online.

Unique features of ExTravelMoney;

1. Forex Comparison - Customers can compare exchange rates of forex services offered by forex centres near them on the basis of exchange rates, location and customer ratings. The best forex service can then be booked online.

2. Marketplace Model - Our online platform is designed as an open marketplace. That is, when customers search for forex services, only those money changers offering the best exchange rates and service get chosen more often by customers. This directly results in competition between money changers to grab customers and thus competitive exchange rates are offered by them.

3. Best Forex Rates - We have a special agreement with money changers to provide forex services at the wholesale exchange for customers booking forex through ExTravelMoney.

4. Maximum Forex Stores - ExTravelMoney has tie-ups with 25+ money changers

including RBL Bank, Axis Bank, Thomas Cook, Muthoot Forex, UAE Exchange,

Cox & Kings and Orient Exchange. Currently, we have more than 8000+ forex stores spread across many towns and cities in India.

Great companies:What is the “success mantra" of Ex Travel Money?

George Zachariah:The one “success mantra” of ExTravelMoney can be said to be our supreme dedication ensuring customers find the best exchange rate on their forex transaction. When customers benefit from our service, we, in turn, benefit from their patronage.

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