A successful collaboration between MGI Worldwide CPAAI members in India, Singapore and the UAE has helped Indian start-up expand its business!
MGI Worldwide CPAAI members B.M. Tambakad, partner at Tambakad & Goil in India, Imran Assan, partner at MGI Alliance PAC in Singapore, and Faiyaaz Rajkotwala, partner at MGI Salim Rajkotwala in the UAE, talk about the successful collaboration between their firms and how it has helped Indian e-commerce start-up, FreshToHome, with their expansion into the UAE.
One of the greatest benefits of membership to an international accounting association is the ability to call upon other member firms worldwide to assist your clients when their needs stretch beyond your own geographical borders. This was the case when Tambakad & Goil’s client, FreshToHome, decided to expand their global presence. Tambakad & Goil provides CFO, accounting & compliance services for FreshToHome, together with advising the founders on its expansion initiatives.
Founded in 2015 and headquartered in Bangalore, FreshToHome is an Indian e-commerce start-up that sells fresh vegetables, fish, chicken and other kinds of meat, sourced directly from farmers and fishermen and delivered directly to consumers. They seek to cut out the middlemen, assuming better control over the quality of the items and delivering a greater customer experience.
In order to attract international capital, FreshToHome externalised the set-up of their business to Singapore, with the assistance of MGI Alliance PAC in December 2015.
In January 2018 when they decided to expand their operations into the UAE, Tambakad & Goil called upon member firm MGI Salim Rajkotwala to get involved as the firms auditors. As B.M. Tambakad explained:
“The support from MGI Alliance PAC and MGI Salim Rajkotwala was key to the growth of FreshToHome outside the shores of India.”
B.M. Tambakad went on to tell us of how FreshToHome greatly appreciated that they had someone on the ground in both Singapore and in Dubai to deal with any issues as they arose, and how they had the confidence in their fellow member firms to look after their needs.
In addition to establishing a presence in the Kingdom of Saudi Arabia, FreshToHome is now considering expanding to Qatar, where they will likely engage our members for this process.
“It was important for Tambakad & Goil that the MGI Worldwide member firms that they worked with could be trusted to ensure that our client got the best advice to ensure a successful entry into the new markets. Both Imran Assan from MGI Alliance PAC & Faiyaaz Rajkotwala from MGI Salim Rajkotwala were fully engaged and involved which created a good impression with the client.”
Shan Kadavil, CEO and Co-Founder of FreshToHome backs up this sentiment: “MGI Worldwide has been a terrific kick-starter for a start up like us. The MGI Worldwide partners are much more than just external consultants, they are a true part of our team.”
Benefitting the client
FreshToHome received a one stop solution for their global needs through the MGI Worldwide network, with direct and close involvement with the partners of the respective member firms and the knowledge that the utmost care and level of service was being provided.
Benefitting the firms involved too
While client benefits were the driving force behind the collaboration, the project has built a better bond between the three member firms and has also given them an opportunity to look for ways and means they can collaborate together again in the future.
About the firm
Established in 1991, Tambakad & Goil, is a firm of chartered accountants based out of Bangalore. The firm has three full time partners and offers assurance and accounting services.
MGI Asia and MGI MENA are part of MGI Worldwide with CPAAI, a top 20 ranked global accounting network and association with 10,000 independent auditors, accountants and tax experts in some 460 locations in almost 100 countries around the world.