XaasTag Regtech Private Limited

XaasTag Regtech Private Limited

In the heart of India's rural landscape, XaasTag Regtech Private Limited is pioneering a digital revolution. Founded in 2017 by Gaurav Sharma and Shivkumar Jagannath, XaasTag has been instrumental in bridging the financial inclusion gap by offering a wide array of services such as prepaid banking cards, micro-ATMs, cash collection, and loan distribution. By aggregating these services on a single platform, XaasTag empowers rural partners to become part of the financial inclusion program, catering to the unbanked rural customer. With its innovative approach, XaasTag is transforming the way financial services are delivered to rural India, making a significant impact on the lives of millions.
Key Details
City
Gurugram
Founded In
2017
Founders
Gaurav Sharma, Shivkumar Jagannath
Category
agtech
Website
Click here

XaasTag Regtech Private Limited Foundation Story

XaasTag Regtech Private Limited, founded in 2017, is a company that aims to create and co-create products and services that benefit Agri SMEs, village level entrepreneurs, farmers, and the local community. Here is a look into its foundation story.

Vision and Early Days

The vision of XaasTag Regtech is to extend benefits to rural areas through innovative products and services. The company was incorporated under the Companies Act 2013 with a clear mission to make a positive impact on the agricultural sector and rural communities[1][2].

In its early days, the founders focused on understanding the needs of the target audience and developing solutions that could address these needs effectively. This involved extensive research and collaboration with stakeholders in the agricultural and rural sectors.

The company's early days were marked by a strong commitment to innovation and a willingness to adapt to the changing needs of the market. This approach has been instrumental in its growth and success.

Founding Team Background

The founding team of XaasTag Regtech includes Gaurav Sharma and Shivkumar Jagannath. Shivkumar Jagannath, an ex-IAF engineer, has over 25 years of experience in expanding digital footprints in rural India. He played a crucial role in creating a widespread WiFi mesh across villages in India.

Gaurav Sharma, on the other hand, brings his expertise from the food and hospitality industry, having set up end-to-end supply chains for well-known QSR restaurants like Subway and Burger Singh. At XaasTag, he manages sales and drives business development.

The team's diverse background and extensive experience have been key factors in the company's ability to innovate and grow.

XaasTag Regtech Private Limited Business Evolution

XaasTag Regtech has undergone significant evolution since its inception in 2017. Here’s a look at its journey from the initial concept to its current state.

From Initial Concept to Current State

The initial concept of XaasTag Regtech was to leverage technology to improve the lives of people in rural areas. Over the years, the company has expanded its scope to include a broader range of products and services. Today, it owns product brands such as XAASTAG and NXTFIN, and works closely with its affiliate brand NXTFIN.

The company's growth has been marked by strategic partnerships and collaborations. For instance, it has worked with experienced professionals like Vishal Goyal, who has over 25 years of experience in payments, transactions, and compliance, and Sunil Khairnar, who has extensive experience in Agri Technologies[1]).

This collaborative approach has helped XaasTag Regtech to stay ahead in the market and address the evolving needs of its customers.

Key Growth Milestones

XaasTag Regtech has achieved several key milestones since its founding. Here are some of the notable ones:

  • 2017: The company was incorporated under the Companies Act 2013.
  • 2017-2020: Established its product brands XAASTAG and NXTFIN.
  • 2020-2021: Experienced significant revenue growth, with a 26420.6% increase in revenue during FY 2021[2]).
  • 2021: Filed its Annual Returns and Financial Statements up until 31 March 2021[2]).


These milestones reflect the company's commitment to growth and innovation.

Product Portfolio Expansion

XaasTag Regtech has expanded its product portfolio to cater to a wide range of needs in the agricultural and rural sectors. Here are some key products and services:

  • XAASTAG: Focuses on creating products that extend benefits to Agri SMEs and farmers.
  • NXTFIN: Provides financial services and solutions tailored for rural entrepreneurs and farmers.
  • WiFi Mesh Network: Shivkumar Jagannath's work in creating a widespread WiFi mesh network has been instrumental in expanding digital footprints in rural areas[1]).


This diverse product portfolio has helped the company to make a significant impact in its target market.

XaasTag Regtech Private Limited Technology Infrastructure

XaasTag Regtech's technology infrastructure is a critical component of its success. Here’s an overview of its core platform architecture, security and compliance framework, and innovations in its industry.

Core Platform Architecture

The core platform architecture of XaasTag Regtech is designed to be flexible and scalable. It leverages emerging technologies such as machine learning, natural language processing, and blockchain to manage regulatory compliance and provide innovative services[3]).

The platform is built to handle high volumes of data efficiently, ensuring that the company can process and analyze large amounts of information quickly. This capability is essential for its regulatory monitoring and compliance management solutions.

The architecture also includes tools for content consolidation, making it easier for users to access and review regulatory documents in one place[3]).

Security and Compliance Framework

XaasTag Regtech places a strong emphasis on security and compliance. The company works closely with experts like Vishal Goyal, who advises on compliance, transaction, and payment regulations and risks. This ensures that the company's products are robust and compliant with regulatory requirements[1]).

The security framework includes measures to protect user data and ensure the integrity of transactions. The company's compliance management solutions are designed to transform raw regulatory text into actionable knowledge, helping firms comply with specific obligations[3]).

This focus on security and compliance has been crucial in building trust with its customers and stakeholders.

Innovation in its Industry

XaasTag Regtech is at the forefront of innovation in the RegTech industry. The company's use of emerging technologies to improve regulatory compliance is a significant advancement. Here are some ways it is innovating:

  • Regulatory Monitoring: The company provides tools that centralize regulatory content, making it easier for compliance teams to research and review updates[3]).
  • Compliance Management: XaasTag Regtech's solutions transform raw regulatory text into actionable knowledge, helping firms comply with specific obligations[3]).
  • Blockchain and AI: The company leverages blockchain and AI to enhance the efficiency and accuracy of its compliance management solutions[3]).


These innovations have helped XaasTag Regtech to stand out in the industry and provide valuable solutions to its customers.

Company Market Impact

XaasTag Regtech Private Limited has made a significant impact in the market since its inception in 2017. Founded by Gaurav Sharma and Shivkumar Jagannath, the company aims to create and co-create products and services that benefit Agri SMEs, village-level entrepreneurs, farmers, and the surrounding community[6][9].

User Base Growth

XaasTag has seen substantial growth in its user base, particularly in rural areas. The company's platform provides a range of services, including prepaid banking cards, group health insurance, and agri supply chain management. This comprehensive approach has attracted a large number of users who were previously unbanked or underserved[10].

The user base growth can be attributed to the ease of access and the variety of services offered. For instance, the prepaid banking cards with medical insurance have been a game-changer for rural masses, providing them with financial inclusion and health security. This has led to an increase in the number of users engaging with XaasTag's services[10].

Key factors contributing to user base growth include:

  • Prepaid banking cards with medical insurance
  • Agri supply chain management
  • Micro-ATM and cash collection services
  • Loan distribution and financial inclusion programs
  • Easy onboarding through eKYC and physical KYC methods


Market Share Expansion

XaasTag has been expanding its market share by targeting specific segments that were previously underserved. The company's focus on Agri SMEs and village-level entrepreneurs has helped it gain a strong foothold in the rural market. By providing services that are tailored to the needs of these segments, XaasTag has managed to increase its market share significantly[6][9].

The expansion is also driven by the company's ability to aggregate various financial and banking services on a single platform. This makes it easier for financial institutions to onboard partners and for users to access a wide range of services. As a result, XaasTag has become one of the largest platforms in India for financial inclusion in rural areas[10].

Key areas of market share expansion include:

  • Agri SMEs and village-level entrepreneurs
  • Rural financial inclusion programs
  • Integration with financial institutions and insurance companies
  • Expansion of services to include input good consumption, output prediction, and quality controls
  • De-risking income through relevant insurance products


Financial Inclusion Initiatives

XaasTag's financial inclusion initiatives have been a cornerstone of its market impact. The company has developed a platform that allows partners to become part of the financial inclusion program, provisioning services to the rural unbanked customer. This includes services like prepaid cards, micro-ATM, cash collection, and loan distribution[10].

The financial inclusion initiatives are designed to address the lack of awareness and access to financial services in rural areas. By linking prepaid banking cards with medical insurance, XaasTag has made a significant impact on the health and financial well-being of its users. The company's efforts have also helped in improving input good consumption, predicting output, and reducing wastage in the agricultural sector[10].

Key financial inclusion initiatives include:

  • Prepaid banking cards with medical insurance
  • Micro-ATM and cash collection services
  • Loan distribution and financial inclusion programs
  • Agri supply chain management and payment systems
  • End-use visibility for financial institutions


Company Financial Journey

XaasTag Regtech Private Limited has had a notable financial journey since its founding. The company has seen significant growth in revenue and has been successful in securing investments to further its mission. Here is an overview of the company's financial journey:

Revenue Growth Story

XaasTag's revenue growth has been driven by the increasing adoption of its services in rural areas. The company's platform, which integrates various financial and banking services, has attracted a large user base. This has resulted in steady revenue growth as more users engage with the platform's services[10].

The revenue growth is also attributed to the company's strategic partnerships with financial institutions and insurance companies. These partnerships have enabled XaasTag to expand its service offerings and reach a wider audience. For instance, the company's collaboration with NXTFIN has helped in developing and regularizing Agri SMEs, which has contributed to the revenue growth[9].

Key factors contributing to revenue growth include:

  • Increasing user base in rural areas
  • Integration of various financial and banking services
  • Strategic partnerships with financial institutions and insurance companies
  • Expansion of services to include agri supply chain management and payment systems
  • Improved input good consumption and output prediction


Path to Profitability

XaasTag is on a path to profitability by focusing on cost-effective solutions and efficient service delivery. The company's platform is designed to reduce operational costs by aggregating services and providing them through a single interface. This approach has helped in minimizing costs and maximizing revenue[10].

The company's financial inclusion initiatives have also contributed to its path to profitability. By providing prepaid banking cards, micro-ATM services, and loan distribution, XaasTag has created a sustainable business model that generates consistent revenue. The company's efforts in improving agri supply chain management and reducing wastage have further enhanced its profitability[10].

Key steps towards profitability include:

  • Cost-effective solutions through service aggregation
  • Efficient service delivery through a single platform
  • Financial inclusion initiatives like prepaid banking cards and micro-ATM services
  • Improvement in agri supply chain management and reduction in wastage
  • Strategic partnerships to expand service offerings


Investment Rounds and Valuations

XaasTag has secured investments from various sources to support its growth and expansion. The company's founders and advisors, including Shivkumar Jagannath and Vishal Goyal, have played a crucial role in structuring investment rounds and ensuring compliance with regulatory requirements[6].

The investments have been used to enhance the company's technology and expand its service offerings. For example, the company's collaboration with NXTFIN has been supported by investments aimed at developing and regularizing Agri SMEs. These investments have helped XaasTag in increasing its valuation and expanding its market presence[9].

Key investment rounds and valuations include:

  • Initial funding from founders and early investors
  • Subsequent investment rounds to support technology enhancement and service expansion
  • Collaboration with NXTFIN supported by investments
  • Increased valuation due to market expansion and user base growth
  • Compliance and regulatory advisory support from Vishal Goyal


Company Strategic Partnerships

XaasTag Regtech Private Limited has formed several strategic partnerships to enhance its services and expand its reach. These partnerships have been instrumental in the company's growth and market impact:

Banking Collaborations

XaasTag has collaborated with various banking institutions to provide financial inclusion services. These collaborations have enabled the company to offer prepaid banking cards, micro-ATM services, and loan distribution programs. For instance, the company's partnership with financial institutions has allowed it to onboard various partners through registered KYC methods, ensuring a large authenticated and identified workforce on the ground[10].

The banking collaborations have also helped XaasTag in improving its agri supply chain management and payment systems. By integrating with financial institutions, the company has been able to provide end-use visibility to financial institutions, de-risk income through relevant insurance products, and ensure easy access to buyers[9].

Key banking collaborations include:

  • Partnership with financial institutions for prepaid banking cards and micro-ATM services
  • Onboarding partners through registered KYC methods
  • Improvement in agri supply chain management and payment systems
  • End-use visibility for financial institutions
  • De-risking income through relevant insurance products


Merchant Partnerships

XaasTag has formed partnerships with merchants to extend its services and improve the livelihood of rural partners. These partnerships have enabled the company to distribute its services through the XaasTag platform to rural customers. For example, the company's partnership with AGTRANS has helped in developing and regularizing Agri SMEs, which has contributed to the growth of the rural economy[9].

The merchant partnerships have also helped in improving input good consumption and reducing wastage in the agricultural sector. By engaging with farmers and providing them with easy access to low-cost loans and insurance services, XaasTag has been able to set up quality controls and predict output more accurately[9].

Key merchant partnerships include:

  • Partnership with AGTRANS for developing and regularizing Agri SMEs
  • Distribution of services through the XaasTag platform to rural customers
  • Improvement in input good consumption and reduction in wastage
  • Engagement with farmers for easy access to loans and insurance services
  • Setting up quality controls and predicting output accurately


Technology Alliances

XaasTag has formed technology alliances to enhance its platform and services. The company has worked with advisors like Vishal Goyal, who has experience in payments, transactions, and compliance. These alliances have helped XaasTag in structuring robust products and ensuring compliance with regulatory requirements[6].

The technology alliances have also enabled XaasTag to adopt innovative technologies such as data analytics and cloud computing. For instance, the company's use of eKYC and biometric KYC methods has ensured a secure and efficient onboarding process for its users[10].

Key technology alliances include:

  • Advisory support from Vishal Goyal on compliance and regulatory matters
  • Adoption of innovative technologies like data analytics and cloud computing
  • Use of eKYC and biometric KYC methods for secure onboarding
  • Collaboration with NXTFIN for developing and regularizing Agri SMEs
  • Integration of various financial and banking services on a single platform