I'm Nehul Malhotra, Co-Founder & CEO at GenWise. Ask me anything!

This question is very close to my heart. I come from a middle class family and saw my parents working hard to feed me. When my career started, giving them comfort in all ways was primary objective and to an extent, I delivered on it. However, as my parents were growing older, I realized that comforts were secondary and all they wanted was more of me and my time - whether its to just talk or fix their netflix or do their online payment. That was the defining moment and last 2 years have been amazing

We target young elders (50-70 years) and 65-70% folks in this segment know how to use a smartphone. Remember, smartphones in India are 20 years old and hence, a generation has grown old with it. Problem is they mostly use YT, WA and FB because none of the other apps make UI which is tailored to them. We have taken few unconventional calls since day 1 to make it the UX more suited e.g a) all screens on app have an audio coachmark, b) color choices, c) handling of app even when default font size on the phone is big

With regards to user behaviours ,we have observed that retention on all metrices is directly proportion to age. With increasing age, conversion becomes tough but retention becomes easy. On a lighter note, we get lot of 1 ratings on playstore because our users think its 'Rank 1'

Lots more to write but some other time :)

Hi Akash. Given below is answer to your questions:

1. Revenue Model - We are micro-transaction based company and charge for our features beyond a certain usage. Our app works with combination of free and paid features and each user has a choice to decide whether to want to only use free features or elevate to paid features

2. I will give you an idea of psychographic profile of our users through a real life situation. Before starting GenWise, we ran a survey and got 250 responses from young folks and 250 from elders to one question - "what should be there in digital app made for old people". We were surprised that there was no commonality between responses of two cohorts. While young folks highlighted utility and emergency services like plumber, ambulance, vital measurement etc, elders said picnics, meet-ups, games.

I believe we have a big stereotype towards our elder generation and believe that all they need is 'healthcare' or allied services. We must remember that our target segment - Generation Wise (50-70 years) has also grown old with smartphones over last 20 years and their behaviours could be as social as ours.

Happy to chat - I am on nehul@genwise.club

Our saathi's are not medically trained. They are experts in offering emotional and mental support to Indian elders and go through rigorous onboarding and selection process. Our Saathi's come from elite backgrounds like School Head-Masters, Lawyers etc

With regards to moderation, we have a real time in-house LLM to analyze calls and highlight any mis-happenings.

We solve the problem of loneliness and have also ventured into digital payments. We are a company which serves purpose but also tries to make up for itself. Hence, we charge money for few services :)

+1

Today, majority of elders are lonely. Check this - https://www.livemint.com/news/india/over-65-elderly-feel-lonely-amid-rising-adoption-of-tech-among-youth-survey-11658557665962.html

However, nuclear families are not the only reason and loneliness can get triggered due to multiple trigger like retirement, loss of partner, falling behind on current trends etc.

Since, elder loneliness is not a deep rooted problem, solutions also have to be non-medical :)

https://economictimes.indiatimes.com/tech/technology/genwise-raises-3-5-million-in-funding-led-by-matrix-to-target-elderly-population/articleshow/100774958.cms?from=mdr