'Our Financial Goal Is To Achieve Rs 2000 Cr By 2020' - Nishit Sood, Founder, Yoma Multinational
Yoma was established in 2011 with an aim to provide comprehensive HR solutions to the dynamic organizations of the 21st century. Yoma has yet to celebrate its fifth anniversary in India, but its vast presence in almost every major city of India clearly reflects its growth momentum. While providing a complete set of HR services to its valuable clients, Yoma adopts an unconventional yet pragmatic approach in the assessment, recruitment, training and staffing of the employees. "Linking Employment to Employability," is the key objective of this highly focused organization which is using new age methodologies such as Viring and Tracksmart. People at Yoma, proactively identify trends and insights that help clients to run their business in an effective and smooth manner, as well as keep processes simple, accessible, and productive. A scientifically advanced approach boosts training, assessment, video recruitment services, track smart and a lot more.
Tell us about your business venture Yoma Multinational and building the idea?
Entrepreneurship was my passion, it had all begun when at 17, I started an NGO, it was primarily in the skill-development sector. So, Yoma started from a premise of working for people too. But the first lesson in entrepreneurship came from my stint in social work. We ran the NGO for 6 months where we were teaching computer literacy to kids, and after a few months the branch managers who we had hired just disappeared with all the equipment. It was a setback, but it made me realize that not everyone is born with an ovarian lottery that not everyone is born in family where you have the capital to build a business but that can have a huge advantage or disadvantage in life.
In an interveiw with BW Businessworld, Nishit Sood, founder, Yoma Multinational Solutions LLP, speaks about company's financial and future goals
So, I decided that I want to be in that kind of a business where I surely can make an impact and it also has a great potential of scalability too. That's when we started Yoma. And today we are more of a technology company, in the space of employability and employing people.
What kind of funding opportunities have you received till now?
I have a financial background myself, so I felt I didn't want to fall in the trap where you end up raising too early and then there is nothing much exciting to look forward to or do by the time you reach round 2 or 3. We brought in various proceeds from my previous venture and soon in the second year, we got loans from banks. Now, we are unit economic positive and a team of 150 odd-people at YOMA. Now, I feel is the right time to approach investors, so at least we have some commanding position on the table.
What about your future goals with Yoma, please throw some light on that?
In terms of our financial goals, we will cross Rs 1,000 crore in top line and that's our vision 2020 target. From an impact point of view, we would want to be touch at least 1000 customers. And from a social impact point of view, since we work at the grassroot level also in our temp staffing business, we would like to cross 70K in terms of employing people.
