Innovation

Founded in 2023, Creto tackles critical issues plaguing India's booming freelance scene. People are unaware about the pricing strategy for freelancers. It can be Rs 100 to Rs 100,000. This ambiguity creates disparity among them. Entry Level freelancers often get passed over for the more experienced. As per SDG 10, Creto aims to reduce these inequalities by standard pricing. It uses standardized pricing based on industry benchmarks, project specifics, and freelancer experience; offering budget predictability for businesses and accurate self-valuation for freelancers.

Creto handles the financial aspects as well. The money from the project is kept in Escrow accounts for the freelancers. Money gets released in 3 parts. Every third milestone payment gets released to the freelancers. Additionally, Creto streamlines project management, ensuring data security, quality deliverables, and milestone-based payments. This fosters transparency and trust, benefiting both parties.

Inspiration

Vaishakh Sajeevan, co-founder of Creto, was not just witnessing India's booming freelance market – he felt its pulse. "We saw the untapped potential of millions of skilled individuals and startups yearning to collaborate," he shared, his voice reflecting a deep understanding of the ecosystem's needs.

But Vaishakh was not blind to the roadblocks. He described the "unstandardized hiring processes" and "unfair pricing" plaguing the industry, stifling both growth and opportunity. This is where Creto's inspiration ignited. "We were driven by the need to democratize freelancing, building a platform that levels the playing field for everyone," he emphasizes.

Creto's mission became crystal clear: "Sustainable quality, pricing transparency, and dedicated support." Vaishakh saw how these pillars could empower both startups and freelancers. "Startups need agile talent to fuel their initial sprints," he explained, recognizing their reliance on skilled freelancers. Conversely, he saw a chance to offer freelancers "a platform built for the Indian market, addressing competition, payment delays, and hefty commissions."

Vaishakh's conviction shines through in his parting words: "We want to make freelancing profitable and sustainable for our people, helping them build their careers and startups build their next big ideas." This isn't just a business; it's a movement, fueled by a vision of a thriving Indian freelance landscape where talent connects, ideas flourish, and everyone wins.

These details capture Vaishakh's passionate vision for Creto, weaving personal inspiration with market insights. It highlights the specific challenges he aims to address and emphasizes the unique value proposition Creto offers to both startups and freelancers in the Indian market.

Overall impact

Creto's impact extends far beyond just facilitating project connections. Its innovative approach has triggered a series of positive ripples, benefiting individuals, the Indian freelance market, and potentially, the broader economy.

Short-term effects reveal increased efficiency and improved user experience. Standardized pricing ensures both startups and freelancers avoid ambiguity, leading to faster project agreements and reduced budget wrangling. Streamlined project management with milestone-based payments fosters trust, boosts completion rates, and guarantees quality deliverables. These factors have attracted thousands of users to the platform, creating a vibrant ecosystem of talent and opportunity.

Long-term implications paint a broader picture of impact. By empowering freelancers with fair compensation and career pathways, Creto helps reduce income inequalities and promotes social mobility. Increased access to skilled talent for startups fosters economic growth and innovation. Moreover, Creto's emphasis on ethical practices contributes to a more sustainable and inclusive gig economy.

Evidence of Creto's impact can be seen in user testimonials, data metrics, and industry accolades. Freelancers report enhanced income stability and more predictable project timelines. Startups praise the platform's efficiency and access to high-quality talent. The platform's rapid growth in user base and revenue suggests a thriving community fueled by positive user experiences. Additionally, Creto's recognition by leading industry publications as a key innovator in the Indian freelance landscape further underlines its positive impact.

In conclusion, Creto's innovative approach is proving to be a catalyst for positive change. By tackling critical issues like pricing transparency, project management, and ethical practices, it is not only fostering individual success but also shaping a more vibrant and equitable future for the Indian freelance market. The platform's short-term impact is already evident, and its long-term potential to contribute to social and economic development is vast. As Creto continues to grow, its ripple effect promises to touch countless lives and reshape the landscape of work in India.

Business benefit

Creto's innovative focus on "standardization of pricing and quality" hasn't just benefited users; it has also been a key driver of the platform's own success. This focus has unlocked a series of positive outcomes, propelling Creto towards sustainable growth and solidifying its position as a leader in the Indian freelance market.

Firstly, Creto's transparent pricing model has revolutionized user acquisition and retention. By eliminating ambiguity and establishing fair benchmarks, Creto attracts both startups and freelancers seeking predictable costs and quality deliverables. This clarity encourages engagement and fosters trust, leading to increased platform usage and reduced churn. The "entry-level friendly" pricing ensures a wider talent pool for startups, attracting and retaining a diverse user base.

Secondly, the focus on quality control creates a virtuous cycle of positive business outcomes. Standardized project management tools and milestone-based payments minimize project failures and rework, driving higher completion rates and client satisfaction. This translates to increased platform revenue through commissions and repeat business from satisfied users. Additionally, Creto's reputation for quality attracts premium partners and investors, opening doors to lucrative collaborations and funding opportunities.

Thirdly, standardization fosters a positive and productive internal environment. Clear pricing guidelines for freelancers reduce internal support queries and disputes, freeing up resources for product development and user engagement initiatives. Streamlined project management tools optimize internal workflows, improving efficiency and employee well-being. This boosts employee morale and retention, attracting and retaining top talent to fuel Creto's continued growth.

By prioritizing user experience through standardization, Creto has created a win-win scenario. Users benefit from fair pricing, quality assurance, and increased opportunities, while the platform itself enjoys robust user growth, enhanced revenue streams, and a thriving internal ecosystem. This virtuous cycle positions Creto for long-term success and serves as a model for innovative user-centric business practices in the rapidly evolving freelance market.

Social and environmental benefit

By promoting fair work practices and inclusivity, Creto fosters a more equitable and diverse workforce. This contributes to reduced societal inequalities and empowers both men and women to participate in the gig economy. Furthermore, Creto's emphasis on project completion and quality contributes to environmental sustainability by reducing unnecessary resource consumption.

Creto's innovative approach holds immense promise for shaping a brighter future of work in India. By prioritizing fairness, opportunity, and quality, it paves the way for a gig economy that empowers individuals, benefits businesses, and contributes to a better world.

Interview

Vaishakh Sajeevan, Founder, CEO