Bootstrapping is not a new concept in the startup world, but it is surely the latest fad with more and more founders choosing to use their own funds. Entrepreneurs with bootstrapped companies have built a sustainable business enterprise relying purely on their own investment. Such new-age, self-funded startups are aiming and achieving high profits and scalability.
The perception that a bootstrapped startup struggles to break even and turn profitable has been completely shattered by the businessmen. Staying bootstrapped takes a lot of grit, patience, and faith in the product.
Here are 5 bootstrapped startups that have made it big in the startup ecosystem.
1. Turning dream kitchens into reality
With the intention of turning dream kitchens into reality, Modspace.in, is an online furniture company for delivering internationally designed modular kitchens and home goods specifically customized to suit varied tastes and lifestyles. Keeping today's evolved Indian consumer in mind, the brand manufactures the products entirely at its own state-of-the-art manufacturing facility with wood and equipment imported from Germany and Italy.
2. Get personalized services at just a click of a button
Bengaluru-based home services aggregator, Onetimejobs.com, provides personalized services at just a click. The portal has been designed to offer solutions for all kinds of everyday needs. Its wide range of services encompass civil engineering works, one-time security, event guarding services, fire/security audits, advocate and legal services, home/office automation, events organisation, background verification and the like. Apart from these, portal also facilitates interaction with handymen who are equipped to handle electrical, plumbing, home cleaning, carpentry, party/event organising and other skilled assignments.
3. Hassle-free access to loans
LoanAdda, incorporated in September, 2015 is a financial technology company that delivers a range of custom-tailored financial services with a focus on underbanked consumers across the globe. Since inception, LoanAdda has scored more than 50,000 applications across 2,000 data points per application as an online aggregator that facilitates customized financial requirements for businesses and individuals with limited banking access. Based in New Delhi, the company's mission is to improve financial inclusion services in India and promote hassle-free access to loans
4. Now meet and engage with like-minded people
Affimity is the next step of evolution for social networking which provides a platform for like-minded people to meet and engage with. Founded by Ramana Venkata, Amar J Singh and Parveen Mittal in 2014, the company has offices in Santa Clara and Bangalore. While the traditional social media platforms did manage to fulfil that expectation to some level, the overall experience was less than satisfactory most of the social feeds were extremely noisy, leaving little time to indulge in real interests. This is where, the founders realised, an urgent need to flip the concept of social media interactions.
5. Digital merchandiser serving mobile lifestyle
SyberPlace.com is digital merchandiser serving mobile lifestyle. Hyderabad-based startup serves aspirations of people from abundant technology and social capital available. The Company delivers unparalleled end-to-end experience from its 6 stage customer life cycle management framework.
There is nothing wrong with your startup if you have bootstrapped it for long, it just shows that your business model is practical and sustainable. Go for funding only when you need it, not because everyone tells you to.Source: Entrepreneur