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Oct 51 min read

Open

Updated: Oct 12

Open is a neobanking platform designed for small businesses, offering a range of financial services that simplify banking and accounting processes. Founded in 2017 by Anish Achuthan, Mabel Chacko, Ajeesh Achuthan, and Deena Jacob. By 2022, the company achieved a valuation of $1 billion with reported losses of $20.9 million.





Problem

Small and medium-sized businesses in India struggled with managing their banking, accounting, and expense tracking due to the complexity of traditional banking systems.


Open Solution

Open created a neobanking platform tailored for SMEs, integrating banking services with expense management, invoicing, and accounting tools to simplify financial management.


Initial Users & Marketing Hack

Open targeted SMEs and startups by offering a hassle-free banking experience combined with accounting tools. They employed content marketing, webinars, and partnerships with incubators and accelerators to drive user growth.


Open Offerings

  • Business Banking Accounts: Provides no-fee banking accounts with integrated accounting tools.

  • Expense Management: Offers features for tracking and managing business expenses.

  • Invoicing Solutions: Simplifies invoicing and payment collection for small businesses.


Website


Linkedin Page


Founder's profiles



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