Warrantify.com eyes consumer electronics retailers

MUMBAI, INDIA: Helsinki-based Warrantify.com is a web based platform for consumers and retailers to digitise and manage paper based warranties and receipts in an easy and secure manner. The start-up which already offers free service to consumers, is now gearing up to start subscription based service for the retailers in consumer electronics segment.

According to Haritash Tamvada, Warrantify's CEO and co-founder, the focus is on consumer electronics retailers and providing them with 'full-on Warrantify integration' service that is integrated with the retailer's e-commerce platform.

Warrantify's key focus markets are Europe and India. Europe is a matured market while India has growing market for e-commerce, mainly consumer electronics and gadget retails, he points.

“The integration allows retailers to generate and manage digitized warranties and receipts for the products sold to consumers. The consumers will get digitized warranties and receipts via emails and SMS alerts. The service is offered at 99 euro per month,” says Tamvada.

“This apart, the platform can also collaborate with third parties retail management systems for extending warranties and receipts, where retailers pay a nominal transaction fee to Warrantify,” he adds.

He further informs, “Though the platform is under an in-house pilot testing phase, its new version with added features will be out in the market in next three weeks.”

Platform's new features include apps for iPhones and Android, warranty extension, related accessory sale and integration with social media for interactive user interface.

As Warrantify's web platform digitizes and stores warranties and receipts, it follows European Union (EU) level data privacy and security standards as well as is certified by VeriSign.

It was back in June 2010, Tamvada quit his Ph.D program and started to work on the project to build a platform for paper management and creating a paperless environment through digitize warranties and receipts.

Within 7-8 months, the platform was ready with the help of a small six-member team. Platform's beta version was launched on the World Environment Day, July 5, 2011. Later in August, the Finnish start-up raised some 200,000 euros through investors and presently is in talks with investors to raise around 2 million euros to boost business and operations.

“Funds will largely be utilized for setting up office and development center in Hyderabad, for developing products and APIs which can integrate with emails. And will hire 20 people for Hyderabad office among which 35 per cent staff each will be given for product development and sales marketing division; rest 30 percent staffs will be in administration and other functions,” Tamvada concludes.