WalletKit has quite a story. We mentioned them a few months ago when 500 Startups, a US based startup accelerator was making inroads into India and invested in a bunch of companies post which they formed a India focused fund- StartupWallah. WalletKit is a company founded by two young 23-year old Indians from Chennai, Kevin William David and Ramakanth Dorai. Graduating from college, they started up and in a rather Silicon Valley like fashion: pitched to Paul Singh (partner at 5oo Startups) in a cab.
The incident goes that they figured out Paul's hotel location by his tweet (when Paul was in India) and handed over a customized pitch book for each partner at 500 Startups along with a poster of their life size cartoons. Paul was initially freaked out but three weeks later they were invited to be a part of the accelerator program. And that kids, is How I Met Your Mother WalletKit hustled into 500 Startups.
So, what does the company do? WalletKit is a SaaS platform for businesses to create,manage and deliver to its customers digital Boarding passes, Tickets, Store cards and Coupons for mobile wallets like Apple passbook and Google Wallet. "We are the central platform for companies to deliver digital mobile passes across all major mobile wallet platforms," says Kevin.
Explaining further, Kevin says, "Using our visual web pass builder, businesses can design beautiful passes,distribute passes to its customers and visualize results. Walletkit provides a scalable and reliable platform to relieve businesses of the cost ,complexity of maintaining and automating pass delivery along with flexible APIs and SDKs that makes custom integration with their app a breeze."
WalletKit has multiple pricing plans with a free monthly trial for each. There is competition The company’s vision includes cross-platform support and wants to bring the technology to a lay person. Based out of Mountain View with an office in Chennai, Kevin tells us about their market, "Our biggest market is the US for now since it's the biggest iphone market. Since Apple Passbook is available worldwide , our target market is pretty wide." A team of 5 currently, the web platform and SDKs have been launched for Python,Java and Ruby for which more than 200 customers signed up in the past 2 days.
Just a couple of days away from Demo Day (500 Startup Fall 2012 Batch), Walletkit will be actively marketing the product now.