PassIT platform, recently launched in Armenia, allows users to buy any item around the world and have it transferred by a traveler going their way.
The startup was co-founded by Levon Hakobyan and Gagik Grigoryan.
Gagik Grigoryan told Itel.am they have around 750 registered users now. The shoppers can also send or receive documents via the platform.
According to him, PassIT can be a source of additional income for travelers.
“PassIT’s commission fee is 7% and we’ll take it from the traveler’s platform revenue. We aren’t taking the fee yet to promote our platform. The website has all necessary documents to reduce deal-related risks,” the co-founder said.
Touching on competitors, Gagik Grigoryan noted that PassIT has the advantage of package delivery via air.
“The main difference is that you can both transfer the goods you own and have your purchase delivered by PassIT,” he said.
The co-founders launched PassIT this February and developed the platform with their own financing till now.
According to Gagik Grigoryan, Armenia is a perfect model for developing a platform such as PassIT, considering the factors of closed borders and connections with Diaspora.
“Document transfer is particularly important for a country like Armenia. Nevertheless, we won’t limit the platform’s coverage only on Armenia. In the first stage, we intend to bring the platform to the Eurasian Economic Union countries, e.g. Russia, where we expect amendments to legislation that’ll substantially lower the customs duty for goods purchased online (e.g. on Ebay, Amazon),” he noted.
Gagik Grigoryan remarked that they will prepare the Android version within a year. Their team is also thinking about opening a receiving point in Yerevan to simplify logistics and reduce security risks.
11:23 | 19.06.18Armenia Startup Academy graduates: HelloSIM