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Comviva, since inception, has been at the forefront of various innovations and offers unique solutions to mobile operators. The company grew more than 22% in FY12 to register revenues of `380 crore. In FY11, the Bharti group company had posted a revenue of `311 crore.
This growth, the company attributes to the surging demand for its products in African market, as the market in Asia, Middle East, and North Africa (MENA) has been flat throughout the year for the VAS companies. However the company saw some traction in the Latin America markets during the last fiscal.
Product and solutions wise, its flagship m-commerce portfolio saw tremendous growth across geographic regions during the last year. So far, its m-commerce solutions have been adopted in 35 countries with more than 60 deployments.
The m-commerce solution enables operators and banks to offer various services like remittance, recharge of mobile prepaids, DTHs, IPTVs, online booking, and core banking services like payments, fund transfer, etc.
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In the last fiscal, the company achieved a milestone when it went into a partnership with Mastercard. This strategic partnership with MasterCard allowed the company to launch a first-of-its-kind open loop mobile money partnership program.
Comviva's mobiquity is a multi-award winning mobile financial solution that has already crossed over 55 deployments and 490 mn subscribers in 38 countries. With mobiquity, mobile users can quickly, easily, and safely access a range of financial payment services.
During the Mobile World Congress 2012, Comviva launched Hola!, a one-stop-shop application to access social networking sites such as Facebook and Twitter, email as well as popular web feeds via the mobile phone.
This application is based on Comviva's WebAxn platform, a cloud based or network based mobile application platform that enables service providers to develop and deploy applications and services on mass market handsets. Hola! is a standards based solution that enables rapid and cost-efficient development, testing, deployment, management, distribution, and marketing of a wide range of clients, SMS, and USSD based mobile applications.
Formerly known as Bharti Telesoft, Comviva is about 50% owned by Mittal and his family through holding firms and trusts. Private equity firms Sequoia Capital and Cisco hold 30% and 5% stake in the company, respectively, with the balance 15% owned by the employees.
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Moving forward, the company plans to focus on certain areas like Usage & Retention (U&R) solutions and data centric business offerings. Though the U&R solution has been there with the company for the last couple of years, it seems that the current business scenario in the Indian telecom space makes more sense for adoption as the industry dynamics has become too competitive.
The U&R reconnect solution focuses on keeping a check on churn while the dynamic discounting feature combines knowledge of network capacity utilization with price and customer demand modeling to define an optimal discount that shifts service usage patterns from peak to non-peak hours.
The company is also looking at data-centric solutions for the next fiscal as it believes that the gradual adoption of 3G and 4G services would take the consumption of data to a new level.
The company that works mostly at the operator level, helping them with various VAS applications, says it has already developed few products for the LTE operators, which would help them in gaining a quick market access.