Biography of Sanchit Malik: Founder and CEO of Pazcare & Townscript- Entrepreneur
Biography of Sanchit Malik
Beginning in Bengaluru
Sanchit Malik’s story begins in Bengaluru, where he stands
as the Co-Founder and CEO of Pazcare, a company dedicated to transforming
employee benefits and insurance. Sanchit’s vision is clear: he wants to create
an environment where employees can easily access quality health insurance and
benefits, making their workplace experience much more enjoyable. This journey
is rooted in his personal experiences and insights gained over the years.
Academic Excellence
Sanchit’s academic background is impressive. He earned a
Bachelor’s Degree in Electronics and Telecommunication from the Maharashtra
Institute of Technology from 2009 to 2013, where he not only excelled
academically but also engaged actively in extracurricular activities. As a
member of the college badminton team and coordinator for various departmental
events, he demonstrated leadership skills early on, laying the groundwork for
his future entrepreneurial endeavors.
The Birth of Townscript
Before embarking on his current venture, Sanchit co-founded
Townscript, an innovative event ticketing and registration platform. Founded in
2013, Townscript quickly gained traction, servicing over 100,000 events
annually across multiple countries. His role involved spearheading sales,
marketing, and customer success, allowing him to develop a keen understanding
of customer needs and market dynamics. This experience was invaluable when he
later transitioned into the health benefits sector.
A Turning Point
In 2017, Townscript attracted the attention of Bookmyshow, Asia's largest entertainment ticketing platform, leading to a majority acquisition. This pivotal moment not only validated Sanchit’s vision but also provided him with critical insights into scaling a startup. It was during this period that Sanchit began to contemplate the significant challenges employees face regarding health benefits and insurance claims, prompting him to think of solutions that could alleviate these issues.
The Idea Emerges
The idea for Pazcare was born from a personal experience in
2020 when Sanchit encountered difficulties while claiming insurance after a
minor car accident. Frustrated by the cumbersome process, he realized there was
a substantial gap in the market for an efficient, user-friendly platform that
could simplify employee benefits. This epiphany marked the beginning of a new
chapter in his entrepreneurial journey.
Transforming the Concept
With the help of co-founder Manish Mishra, who had
experience scaling startups like Mindtickle, Sanchit transformed the concept of
Pazcare from an idea into a reality. Launched in 2021, Pazcare aimed to empower
employers by providing them with a streamlined platform to offer top-notch
health insurance and benefits to their employees. The goal was clear: eliminate
the hassle of insurance claims and make employee well-being a priority.
A Growing Enterprise
Today, Pazcare is a thriving enterprise, trusted by over
2,000 companies, including well-known brands like Mamaearth and Mindtickle. The
platform’s growth has been bolstered by backing from prestigious investors such
as BeeNext Ventures and 3one4 Capital, among others. With a team of over 170
dedicated professionals, Sanchit and his colleagues work tirelessly to ensure
that employees have access to the health benefits they deserve.
Biography of Sanchit Malik: Founder and CEO of Pazcare & Townscript- Entrepreneur/age/net worth/investor/startup/ticketing & registration platform
Innovative User Experience
What sets Pazcare apart is its commitment to innovation and
user experience. The platform is fully digital, allowing employees to easily
access and claim their insurance benefits. For HR professionals, managing
employee benefits becomes a seamless process, thanks to the comprehensive tools
provided by Pazcare. This level of efficiency is crucial in today’s fast-paced
business environment, where employee satisfaction can significantly impact
overall productivity.
A Broader Vision
Sanchit’s entrepreneurial spirit is not limited to Pazcare.
His earlier ventures, such as Padhaaro—a service connecting local guides with
tourists—highlight his dedication to solving real-world problems. His time at
the Startup Leadership Program also enriched his understanding of leadership
and innovation in startups, further refining his approach to business.
Emphasizing Adaptability
Reflecting on his journey, Sanchit emphasizes the importance
of adaptability and resilience in entrepreneurship. He believes that the ability
to pivot and address emerging needs is essential for any startup aiming for
success. His own experiences, from the challenges faced at Townscript to the
creation of Pazcare, embody this principle, showcasing how insights from one
venture can fuel the next.
Looking to the Future
As he looks ahead, Sanchit remains committed to expanding
Pazcare's reach and impact. He envisions a future where every employee can
effortlessly access health benefits, creating a healthier and happier
workforce. By continually refining the platform and listening to user feedback,
he aims to stay at the forefront of the employee benefits landscape.
A Testament to Innovation
In conclusion, Sanchit Malik’s journey is a testament to the
power of innovation, determination, and a keen understanding of market needs.
Through Pazcare, he is not just building a business; he is reshaping the way
employees perceive and access their benefits. His story inspires aspiring
entrepreneurs to identify gaps in the market and transform challenges into
opportunities for growth and improvement.
A timeline of Sanchit Malik's journey:
2009-2013 - Earns a Bachelor’s in Electronics and
Telecommunication from MIT, Pune.
2013 - Co-founds Townscript, an event ticketing and
registration platform.
2017 - Townscript is acquired by Bookmyshow, providing key
insights into scaling startups.
2020 - Experiences difficulties with insurance claims,
inspiring the idea for Pazcare.
2021 - Launches Pazcare, focusing on streamlined employee
benefits and health insurance.
2023 - Pazcare grows to serve over 2,000 companies,
enhancing user experience in employee benefits.
2024 - Aims to expand Pazcare’s reach and impact,
prioritizing employee access to health benefits.
