Get a chance to invest in an international fintech platform that acts as a conversational AI platform.
Marketing, Commerce, Support
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GupShup provides rich APIs for business communication with customers through various communication channels —
SMS, IP and RCS. Gupshup allows you to automatically send programmable messages. They also develop chatbots based on artificial AI algorithms, create their own IP messenger, GupShup IP, and develop other business products in the field of customer support, engagement and communication. Gupshup's key market is India (80% of revenue), and are developing in Latin America (20% of revenue) and scaling to MENA markets (UAE, Saudi Arabia, Nigeria, North Africa).

How it works

Сommunication solutions
Corporations can create various communication solutions for their users through any communication channels.
Conversational algorithms
CRM and other platforms
The combination of omni-channel structure and smart chatbots allows corporations to use conversational ML/AI algorithms more effectively and improve the work of deep analytics and ML algorithm training services.
Seamless integration with CRM and other platforms allows you to create a unique user experience of communication between the client and the business.

Revenue and other key points

Revenue in 2022 (68% growth YoY)
Net Dollar Retention Rate
messages sent through GupShup API per month
users mainly in India, Latin America and MENA(Middle East and North Africa).


Why invest?

Market Growth
Сommunication channels
GupShup grows with its customers! The company provides services to the fastest growing technology companies in India, whose economy grew by 7.2% in 2022.
The rapid growth of the Indian CPaaS market at a rate of more than 30% per year due to the massive digital transformation of the country's economy.
Global expansion to Latin America and MENA.
GupShup is actively developing non-sms communication channels, such as WhatsApp and RCS, which have a significantly higher margin (compared to SMS), allowing the company to increase TAM and reach customers.

Market data

10% of $200B market customer support
Commerce & sales software market share
4% of $500B market of marketing services
20% of $50B of App Store revenue
5% of $200B paid content market


Jio, the largest telecom operator, may raise tariffs for SMS, which may lead to a decrease in gross margin or an increase in the cost of the SMS sending service. There is also the possibility that Jio may launch a similar service with bigger discounts.

Strengthening the positions of Tanla, a legacy provider of CPaaS platform for SMS, in the IP communication segment. Tanla bought GupShup competitor ValueFirst in July 2023, which is used by the company's legacy rather than tech unicorns and some international companies (like Domino). ValueFirst was previously owned by Twilio (since 2021), but Twilio decided to sell the Indian business and focus on other markets due to the need to invest in India to compete with local players
WhatsApp is actively developing new business solutions in India: the company launched payment for services and P2P transactions within the messenger, and also launched an integration with the Indian Uber, which allows you to book rides in WhatsApp itself through a chatbot. In the future, WhatsApp plans to expand its product line, which could be a risk to GupShup's market share. However, we believe that GupShup will retain its position as the absolute leader in the IP messaging market. Firstly, for WhatsApp, business solutions are secondary verticals, while for GupShup it is the core business; secondly, GupShup has a significantly wider product line and offers specialized solutions for various industries.
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