Biography of Varun Sheth: Co-founder and CEO of Ketto- Entrepreneur & Invetsor
Varun Sheth’s story
Varun Sheth, born and raised in Mumbai, began his
professional journey with a strong foundation in commerce and economics,
graduating from Narsee Monjee College in 2008. Despite a challenging start in
the financial services sector, where he dabbled in various roles including
interest rate swaps at ICAP, Sheth's entrepreneurial spirit was always evident.
His work experiences, coupled with his academic background, laid the groundwork
for his future endeavors.
A Turning Point in Sheth’s Career
After several years in finance, Sheth found himself
increasingly disillusioned with the monotony of corporate life. This sense of
dissatisfaction was compounded by the inspiration he drew from Vinod Khosla’s
Khosla Impact fund. This external influence, combined with a growing desire to
create meaningful change, motivated Sheth to explore a new path: founding a
social enterprise focused on healthcare accessibility.
The Birth of Ketto
In August 2012, Sheth co-founded Ketto along with Kunal
Kapoor and Zaheer Adenwala. The platform’s mission was clear from the start: to
make healthcare and other essential services more accessible by leveraging the
power of crowdfunding. The name Ketto, derived from “Key to Tomorrow,”
reflected their ambition to unlock new possibilities for those in need.
Early Struggles and Rejections
Sheth's journey with Ketto was fraught with challenges.
Initial efforts to secure funding were met with skepticism from investors, who
doubted the viability of crowdfunding in India. Despite numerous rejections,
Sheth’s persistence remained unshaken. He continued to pitch Ketto’s vision
tirelessly, believing in the potential impact of his platform.
A Breakthrough Encounter
A pivotal moment arrived during a presentation to Anurag
Batra, the chairman of the Exchange4Media group. Although Batra was not
impressed, Sheth’s chance encounter with investor Venkat Krishnan at the Taj
Lands End Hotel proved serendipitous. Sheth seized the opportunity to pitch
Ketto's project for Indian athletes, securing crucial funding that marked a
significant turning point for the company.
Turning Point and Growth
With the newfound support, Ketto experienced a dramatic
shift in its fortunes. The platform’s ability to quickly raise ₹10 lakh for a
single project was a testament to its growing credibility and effectiveness.
This success not only boosted Sheth’s confidence but also increased Ketto’s
visibility and credibility in the crowdfunding space.
Challenges and Resilience
The early days of Ketto were marked by numerous trials and
errors. Despite setbacks and a less-than-ideal initial product, Sheth’s
resilience drove him to refine and improve the platform. The breakthrough came
with the support of Zaheer Adenwala, who brought valuable tech expertise, and
further funding from angel networks like Calcutta Angels.
Expanding Horizons
Over the years, Ketto grew from a small startup into India’s
largest crowdfunding platform. By the end of 2021, it had raised over ₹1,100
crore, boasting a database of more than 5.5 million donors and facilitating
over 200,000 fundraisers. Its impact extended beyond India, with donations coming
from 85 countries worldwide.
Innovative Approach to Fundraising
Ketto’s success can be attributed to its user-friendly and
transparent approach to crowdfunding. The platform simplified the fundraising
process, making it accessible for individuals, NGOs, and corporations alike. By
providing marketing support and leveraging social media, Ketto amplified its
campaigns and reached a broad audience.
The Role of Digital Marketing
Digital marketing played a crucial role in Ketto’s growth.
The platform utilized social media channels like Facebook, Twitter, and
Instagram to drive awareness and engagement. This strategic use of digital
platforms allowed Ketto to expand its reach and effectively communicate its
mission and impact.
Biography of Varun Sheth:Co-founder & CEO of Ketto- Entrepreneur & Invetsor /Success story of Varun Sheth/Ketto story/Age/Net worth/Varun Sheth
Adapting to Market Trends
Ketto's early entry into the crowdfunding space positioned
it advantageously as the market grew. While platforms like Kickstarter and
GoFundMe were gaining traction in the West, Ketto adapted these trends to the
Indian context. The platform focused on storytelling and leveraging celebrity
endorsements to build trust and attract donors.
Educational Efforts and Market Acceptance
One of the significant challenges Ketto faced was educating
the market about crowdfunding. Sheth and his team invested considerable effort
in explaining the concept and benefits of online fundraising. Their persistent
educational campaigns helped in increasing market acceptance and fostering a
culture of giving.
From Startup to Industry Leader
Today, Ketto is recognized as a leader in the crowdfunding
industry. The platform’s ability to adapt and innovate has enabled it to stay
ahead in a competitive market. With its extensive donor base and successful
campaigns, Ketto continues to make a significant impact in areas like medical expenses,
education, and social causes.
Future Aspirations
Looking ahead, Sheth and his team are focused on expanding
Ketto’s reach globally. Plans are in place to launch the platform in new
markets, such as Hong Kong and Malaysia, to further its mission of connecting
people who need funds with those who can provide them. This global expansion
reflects Ketto’s commitment to making a broader impact.
Embracing Resilience and Growth
Sheth’s personal journey from a struggling finance
professional to a successful entrepreneur underscores the importance of
resilience. His ability to navigate obstacles and persist through challenging
times has been instrumental in Ketto’s success. This resilience remains a core
value driving the company's ongoing growth and innovation.
The Impact of Crowdfunding
Ketto’s success story highlights the transformative power of
crowdfunding. By providing a platform for individuals and organizations to
raise funds for meaningful causes, Ketto has addressed critical gaps in areas
like healthcare and education. This impact is particularly significant in a
country with limited public healthcare funding.
Building a Community
Ketto’s approach to building a supportive community has been
a key factor in its success. The platform fosters a sense of connection between
donors and beneficiaries, enhancing the overall impact of each campaign. This
community-driven model ensures that contributions are directed toward causes
that resonate with people on a personal level.
Innovative Strategies and Achievements
The strategies employed by Ketto, including its use of
digital marketing and celebrity endorsements, have set it apart from
competitors. By continuously innovating and adapting to market needs, Ketto has
established itself as a leader in the crowdfunding sector. Its achievements
reflect a commitment to excellence and a deep understanding of the evolving
fundraising landscape.
Advice for Aspiring Entrepreneurs
For those starting out in the entrepreneurial world, Sheth
offers valuable advice: believe in yourself, keep trying, and never stop
learning. His journey serves as a testament to the power of perseverance and
the importance of staying true to one’s vision, no matter how daunting the
challenges may seem.
A Lasting Legacy
Varun Sheth’s story is one of vision, resilience, and
impact. Through Ketto, he has created a platform that not only addresses
immediate financial needs but also fosters a culture of giving and support. As
Ketto continues to grow and expand, Sheth’s legacy of innovation and
philanthropy will undoubtedly inspire future generations of entrepreneurs and
changemakers.
Timeline for Varun Sheth’s story
2008: Graduated from Narsee Monjee College, Mumbai.
2012: Co-founded Ketto, focusing on crowdfunding for
healthcare and essential services.
2015: Secured crucial funding from Venkat Krishnan, marking
a breakthrough for Ketto.
2021: Ketto raised ₹1,100 crore, with over 5.5 million
donors and 200,000 fundraisers.
2023: Plans to expand Ketto into new markets, including Hong
Kong and Malaysia.
