CXOToday has engaged in an exclusive interview with Aprup Shet, Co-Founder, Numadic
Tell us about Numadic’s journey so far and experience from building a new category
We set out to build a new category in the vehicle payments space. Our journey began with identifying a gap in the market and creating a unique value proposition that set our product apart from existing solutions with our banking partners. Throughout the development process, we remained agile, focused on building a comprehensive strategy to enable entrenchment with stakeholders like Banks OMCs, and other partners. Through our collaborative efforts, we successfully built a new category in the space, expanding into new markets and building strong partnerships with other businesses for our vehicle commerce platform.
How do you foresee the future of vehicle commerce?
It is likely that the future of vehicle commerce will continue to evolve rapidly. With the rise of electric and autonomous vehicles, there will be a growing need for new payment and ownership models. We may see more subscription-based models or pay-per-use options, as well as increased integration of mobile payment solutions and blockchain technology. Additionally, as more consumers become accustomed to digital and contactless payment methods, the traditional dealership model may become less relevant. Ultimately, the future of vehicle commerce will depend on a complex interplay of technological, social, and economic factors, and it will continue to evolve in exciting and unpredictable ways.
What would be your product roadmap and business focus over the next 12 months?
Completely focused on enabling automated fuel payments
Would you be looking at fresh funding?
We are going to raise funds over the next 6 to 12 months
Will Numadic be looking to hire in the next 12 months?
Yes, we are currently seeking new talent to join our team. We are looking for individuals with a passion for innovation, a strong work ethic, and a desire to make a positive impact in the world. If you are interested in joining a dynamic and fast-paced environment where you can grow and thrive
How do Numadic’s vehicle identity, fleet profile, and vehicle location APIs work, and what technology stack do they rely on?
Numadic builds two products powered by the core platform. Wallet – where we enable vehicles to connect to payment instruments. Transactions – where we enable vehicles to make payments automatically and contactlessly. We make this possible via our deep integrations with banks and oil companies.
How does Numadic ensure the scalability and reliability of its APIs and web applications, particularly in the face of high volumes of vehicle transactions?
We have built-in redundancy into our platforms
With EVs coming into the picture, how do you see the future of Mobility? And what role will Numadic play in it?
Without any doubt, EV will ultimately overtake Internal Combustion Engine (ICE) vehicles. We are already working on solutions here but prefer not to disclose at this time.
