In Gurgaon, a remarkable startup has emerged, shaking the foundations of the hospitality industry within just six months of its start. HotPay, founded in June 2023 by Vivek Mahrishi, has swiftly crossed the $2 million revenue mark, achieving an impressive INR 20 million in revenue with positive EBITDA.
HotPay is the first-ever hospitality negotiator brand and an offline payment gateway catering exclusively to corporate needs. In a bold move, this bootstrapped startup addresses a critical issue faced by corporates—the challenge of managing credit lines for their hospitality requirements. HotPay extends credit to corporates while paying vendors upfront.
Vivek Maharishi, Co-founder and CEO of HotPay, shares insights into the company’s remarkable journey. “Mastering negotiations and providing seamless hospitality and hassle-free payments have been our guiding principles,” he says.
The goal is to provide a reliable platform for corporates to manage pan-India bill-to-company requirements efficiently. The founder envisions HotPay being valued at $10 million by the end of FY 24-25, demonstrating their responsibility to doubling revenues within FY 23-24.
HotPay’s success is attributed to its expert negotiators, who secure the best B2B rates in the hospitality industry. These negotiators leverage industry knowledge and connections to ensure competitive rates without additional commissions. The startup offers comprehensive end-to-end packages, managing everything from itineraries to bulk transport, flights, sightseeing, and hotel accommodations.
HotPay takes the burden of vendor management off corporates’ shoulders, handling negotiations, communication, and coordination which ensures smooth operations and top-notch services. The company recognizes that every corporate client has unique hospitality needs.
HotPay’s focus on efficiency and cost savings allows clients to concentrate on core operations, knowing that their payment-related tasks are in capable hands.
By simplifying payments, streamlining processes, and providing personalised solutions, HotPay is not just upgrading corporate hospitality experiences but also redefining the sector’s engagement rules. The impact of this startup extends beyond financial milestones—it’s about empowering businesses, promoting smooth collaboration, and unlocking new possibilities for success.
For further information, visit: https://hotpay.in/
