It is a well-known fact that the most successful business and startup ideas often originate from the everyday situations and challenges we encounter. ReturnHound, a tech business led by entrepreneur Kavit Handa, is one of the examples. During a family vacation, Handa's daughter accidentally forgot her favorite Minnie Mouse toy in the hotel. The ordeal of phone calls and an agonizing 18-day wait to have the toy returned sparked Handa's aspiration to contribute to the "lost and found" industry by creating an efficient and compassionate solution.
In a world where more than 250,000 personal belongings go missing every day in hotels, airports, and on public transportation, ReturnHound developed an innovative platform that connects individuals who have lost or misplaced items with the establishments where they were last seen. The process is simple and begins with staff first logging the lost items they found. When customers realize they have lost something, they contact the venue and are provided with a web form, where they can enter details about the lost item and the circumstances of its loss. Once a match is identified, the hotel staff is notified, customers are sent an email, and the shipping process begins.
Born out of a personal experience, ReturnHound has achieved unexpected results. While many businesses would prioritize maximizing profits, ReturnHound took a different approach. Initially, the company wasn't pursuing any financial goals, emphasizing the importance of social needs. "We took a step back and said, 'What's our main purpose here?' And our main purpose with this was not really to go out and make money. It was to go out and change a problem", says Kavit Handa. For Kavit, who has launched several successful ventures, success is not solely defined by financial gains. Businesses nowadays must go beyond traditional financial metrics. He believes that in the 21st century, businesses must adopt a "triple bottom line" approach, evaluating their performance based on financial, social, and environmental factors. By solving significant problems and addressing social needs, entrepreneurs can find sustainable and profitable solutions, paving the way for success.
Kavit Handa, a business leader, and accomplished entrepreneur, is currently the Chairman at Africa Capital SA. With a multifaceted background and extensive expertise spanning diverse industries, Kavit has forged an exceptional career, demonstrating his prowess in the realms of finance and real estate. His unique approach has attracted support from investors who recognize the value of a triple-bottom-line business model. With collaboration from courier firm Aramex and an Asian venture capital firm, ReturnHound has created notable partnerships.
Guided by the entrepreneurial leadership of Handa, ReturnHound has emerged as a leading tech business revolutionizing the "lost and found" experience worldwide. The company sets a new standard for businesses in the 21st century by embracing the triple-bottom-line approach and focusing on financial viability, social responsibility, and environmental sustainability. ReturnHound is a great example of how a startup not only thrived in the competitive tech landscape but also executed a profitable exit strategy. What is more important, it brought a new effective solution to the "lost and found" industry.
