Meet The SHEROES: Nishima Agarwal, Co-Founder And Chief Performance Officer, CurrencyKart.com

After completing my Bachelors in Commerce from Delhi University, I went to study Masters in International Business from Dublin University, Ireland. During the course, I understood what it takes to be an entrepreneur and run a business. After my studies, my family wanted me to join their business, but I had different plans. So, I started working with the Confederation of Indian Industry (CII) as a research analyst. 

I like to paint, and I also dabble in interior designing. I like socialising and networking with people. I don’t hesitate to share my experiences--good or bad--with people. I believe that the more you share knowledge, the more you gain.

I married a successful international trader of stainless steel. I joined Rohit in his business, and dealing with the international payments on a regular basis gave me an entry into the complex forex world.

While working with my husband, I realised the problems related to the forex world, such as the limited number of money changers and the unrealistic rates offered by them. Besides, one always has to request and plead these money changers as they work at their whims and fancies. Also, being an avid traveller and a startup enthusiast, I thought of bringing about a revolutionary change in the old-school concept of forex markets that people still hold on to. That’s how it all started.

The story behind

Being a part of import and export business as well as an avid traveller, my husband was dealing in forex to send payments for importing goods on a day-to-day basis. As a result, many of our friends and relatives used to contact us for any of their forex requirements, as they had no other trusted and reliable point of contact. Even if they had one, either it wasn’t in their locality, or involved a lot of people in the process.

Such experiences led to the evolution of CurrencyKart.com. I shared the idea with my husband, and my brother, Mr. Shubham Aggarwal, that we should come up with a new, innovative and one-stop solution for all forex-related problems. Well, the idea really clicked. 

Forex being a complex market, we needed some trusted hands to work on it. We discussed it with Mr. Sidhant Gupta, a legal advisor and chartered accountant well-experienced in investment banking. When he heard the idea, he was ready to take off the kart by bringing his specialisation to the company. We also required a market expert who would understand the further nitty-gritties of the market, so we took the proposal to our regular money changer, Mr. Gurpreet Narang, who has been my father’s friend for 20 years. He was so happy with the concept that he joined our team as a co-founder. Slowly and steadily, we began working on the other aspects such as estimation of budget and other technicalities involved. 

Now, it was essential to take care of the technological aspects of the company. Fortunately, we came in touch with Mr. Deepak Tomar, who was ready to fulfil the technological needs of our company. After forward planning the vision of a company, Mr. Tomar became one of the co-founders, thereby adding another pillar to CurrencyKart and making it a complete and robust structure.

CurrencyKart aims to promote white market with the support of our government’s initiatives and measures to encourage consumers to exchange currency in the market. It will help our fellow citizens to travel hassle- and risk-free across the world. 

I too faced some challenges, but I am blessed to have a supportive family

If you are a woman entrepreneur, you have a lot of challenges to face--like managing the home and business at the same time. A woman faces maximum challenges when her family doesn’t stand by her choices and decisions. Thankfully, my family has been a big support throughout my life. 

Working on a new and different concept is quite a fearsome task, as you put your own savings in it. There is always a risk factor. And, if you are leaving a successful business to start something new and afresh, that paycheck is not seen for a while. It is essential to be prepared for any upcoming challenges and threats when you are an entrepreneur.

Forex is a difficult market for Woman and Novice traders Mostly, the transaction happens in the grey market as the forex market is very unorganised in India. That being the case, it becomes difficult and tedious for a woman to exchange currencies. Therefore, the market is largely dominated by the men. 

Dealing in currency requires full-time expertise, and novice traders face a lot of problems. So, there was a need for a social awareness in the trade industry that women are equal and can work efficiently in such industries.

Time changed everything

It was mixed feelings when I first thought of CurrencyKart. I was quite happy as well as worried at the same time, as I had minimal knowledge of the market. 

All I had ever done was exchanging the money with the exchanger at the price he offered. My friends had complete faith in me, and it was their support and our teamwork which me gave a positive boost to enter into this business and run it successfully. 

Over time, I learned about the operations of the forex markets, and added new things to our venture to stand apart from similar players in the industry. We are now the only forex company in India to offer cash-on-delivery service. 

The future is in our hands

I had always aspired to be independent and become a businesswoman. But, it is very difficult to predict the future. I believe in the fact that nothing is impossible. Our future lies in our own hands. All, we require to make a thing possible is hard work, dedication and faith in ourselves, and of course, support from our family and friends. 

Collated by Paroma Sen