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CurrencyKart committed to promote white currency exchange with Government Support says Founder Nishima Agarwal

My Big Plunge | CurrencyKart committed to promote white currency exchange with Government Support says Founder Nishima Agarwal

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CurrencyKart committed to promote white currency exchange with Government Support says Founder Nishima Agarwal

After completing my Bachelors in Commerce from Delhi University, I went to study Masters in International Business from Dublin University, Ireland. During the course, I realised what it takes to be an entrepreneur and running a business. After my studies, my family wanted me to join their business, but I had different plans, so I started working with Confederation of Indian Industry (CII) as a Research Analyst. Though I was a part of an excellent organisation, my mind was into the business.

Later, I got married to Mr. Rohit Gupta, a successful international trader of stainless steel. I joined Rohit in his business and started dealing with the international payments on a regular basis, which gave me an entry into the complex forex world.

While working with my husband, I realised the problems encircling the forex world like a limited number of money changers and unrealistic rates offered by them to pen down a few. Moreover, one has to request and plead these money changers as they work at their whims and fancies. Also, a startup enthusiast, I thought of bringing a variable change in the old school concept of forex market that people still hold on to. That’s how it all started.

The Story Behind

Like every other business, CurrencyKart also has a story behind it.

Being a part of import and export business as well as an avid traveller, my husband was regularly dealing in forex to send payment for importing goods. As a result, many of our friends and relatives used to contact us for any of their forex requirement as they had no other trusted and reliable point of contact and even if they had one, either it wasn’t in their locality or involved a lot of people in between the process. Such experiences lead to the evolution of I shared the idea with my husband Mr. Rohit Gupta and my brother Mr. Shubham Aggarwal that we should come up with new, innovative and a one stop solution for all forex problems. Well, the idea clicked.

Forex being a complex market, we needed some trusted hands to work on it. We discussed it with Mr. Sidhant Gupta, who is a Legal Advisor and a CA by profession and a well-experienced in investment banking. When he came to know about the idea, he was ready to take off the kart by bringing his specialisation to the company. We also required a market expert who understands the further nitty-gritty of the market, so we took the proposal to our regular money changer and my father’s 20 years old friend, and he liked the Idea. As a result, his son, Mr. Gurpreet Narang joined our team as a Co-Founder. Slowly and steadily we began working on the other aspects like estimation of budget and other technicalities involved.

Now, we needed someone to take care of technological aspects of the company. Fortunately, we came in touch with Mr. Deepak Tomar, who was ready to fulfil the technological needs of our company. After fore-sighting the vision of our company, Mr. Deepak became one of the Co-Founders, thereby adding another pillar to CurrencyKart and making it a complete and robust structure. CurrencyKart pledges to promote white market with the support of our government’s initiatives and measures to encourage consumers to exchange currency in the white market. It will help our fellow citizens to travel hassle and risk-free across the world.

If you are a woman entrepreneur, you have a lot of challenges to face like managing home and business at the same time. A woman faces maximum challenges when her family doesn’t stand by her choices and decisions. Thankfully, my family has been a big support throughout my life.

Working on a new and different concept is quite a fearsome task as you put your savings in it. And, if you have left a successfully running business to start something new and fresh, getting that paycheck is not seen for a while. It is essential to be prepared for any upcoming challenges and obstacles you may when you are an entrepreneur.

Forex is a difficult market for novice traders

The forex market in India is not much organised, and most of the transactions happen in the grey market. That being the case, it becomes difficult for a person to exchange currencies. 

As we know, the dealing in currency requires full-time expertise, and novice traders face a lot of problems to deal in. So, there was a need of something to ease down that pressure and brings social awareness that women are equal and can work efficiently in such industries.

Time changed everything

It was mixed feelings when I first thought of CurrencyKart. I was quite happy as well as worried at the same time as I had a minimal knowledge of the market.

All I had ever done was exchanging the money with the money exchanger at the price he had offered. But, my friends had complete faith in me and it was their support and our teamwork which gave a positive boost to enter into this business.

Over the time, I learned about the operations of the forex and added new things to stand apart from the rest of similar players in the industry. This is our innovative approach and dedication towards work that made us the only forex company in India to offer COD (Cash on Delivery) services.

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of the publication

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