“We’re already in the Philippines and Indonesia and should have a reasonable presence in Dubai by December. We have already started coding in Uganda and other places in Africa. But the funds which have come in are not that significant. So we are going to the market most probably in January for around $3-4 million to expand in other geographies,” co-founder Srinivasan Varadarajan said.
However, he said that India in itself is a “humongous market.” He said that now even if a customer wants to buy jewellery, everything will be as per KYC norms and this provides immense opportunities to companies like Anur that specialise in verification, identification and authentication.
The company has processed seven million accounts in the BFSI Vertical. Anur’s solutions are live at SBI Life, PNB MetLife, ManuLife Philippines, Aditya Birla, Allianz , Reliance Nippon, and a number of other firms.
Varadarajan said the company was looking to tie up with the company in Dubai that has an extensive exposure to all the insurance companies there and will help Anur expand their footprint in the Middle East.
“We are trying to tie up with some of the big boys,” he said. “Similarly we are in talks with Tech Mahindra and TCS. Tech Mahindra is in Africa and Africa is also a very huge market for us. In some places we plan to do it with our own foot soldiers. For instance, in Southeast Asia, we are planning to have our own outfit. We are also going to have a huge outfit in Mumbai even though we are based out of Chennai.”
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He said this way the go-to-market strategy is facilitated by the insurance companies and banks coming to Anur and that leaves only approaching corporates through digital marketing. Further, Varadarajan said a lot of tenders were coming up.
Varadarajan said the Mumbai expansion was to tap the large market potential available there as most of the insurance companies and banks are headquartered there. In fact, he said the company was actively looking to onboard LIC as a customer.
“Zero-touch has become the norm in on-boarding customers in most of the verticals. ANUR’s SAAS based solutions are flexible and modular, making it easy to adopt both by the customers and clients,” Varadarajan said.
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