Danny Jatania and his two sons keep it in the
family with their latest venture, a prepaid card offering
users discounts and cashback when shopping with partner
0-5 second: Sum your
business up in a sentence
Pockit is a leading prepaid card, which helps
cardholders save and manage money through partnerships with
5-10 seconds: What's the business
Consumers purchase the card online via our
website and have a choice between a Pay Monthly card and a Pay As
You Go card. The Pay Monthly card comes with more benefits and
lower fees than other cards.
10-15 seconds: Who are your
Other prepaid cards such as Cashplus, Virgin
Prepaid Card, Orange Cash Card and Kalixa.
15-20 seconds: What's your
We offer our Pay Monthly cardholders up to 10%
in-store cash back with 20 leading high-street retailers, including
M&S, B&Q, New Look, and many more, when they use their card
in-store. We also have discounts on insurance, broadband, gas and
electricity and travel.
20-25 seconds: How have you funded it
To date the business has been funded by us.
25-30 seconds: What were you doing
Danny was focusing on the family business,
Lornamead, which he set up in 1978. Yuvraj was working at Ernst
& Young in Corporate Finance while Virraj started working on
Pockit straight after university.
30-35 seconds: Where did the idea come
The idea was born out of Danny's experience in
negotiating deals for his family business, Lornamead. He strongly
believed that group buying could be applied and delivered to the
35-40 seconds: What's the smartest
done so far?
Putting our customers first, by
listening to their feedback early on and lowering our fees to
become more competitive.
40-45 seconds: What's the
Committing to long-term contracts with
outsourced partners. Start-ups need to be flexible.
45-50 seconds: If your business was a
biscuit, what would it be?
An Oreo cookie because we have three layers of
benefits: our online voucher codes and partner offers are the
biscuit layers and our in-store cash back is the cream bit
50-55 seconds: Which idea are you a bit
Badoo is very clever. Who would have thought
you could monetise meeting new people in that way?
55-60 seconds: Where are you going to
12 months' time?
We'll have gained another 40,000 cardholders,
launched our own app with a strong focus on delivering the best
deals to our customers and we'll be in a bigger office with
like-minded individuals who want to share in our success.
For more information on Pockit click here, www.pockit.com.