Tofler: Anchal Agarwal on Building India's Most Trusted Business Information Platform
In a country where information has traditionally been kept behind closed doors, Anchal Agarwal, Founder and CEO of Tofler, is opening the windows. A Chartered Accountant and Company Secretary by training, Anchal traded her role at PwC to build an integrated business information platform that provides real-time data on millions of Indian companies. Her mission? To create an ecosystem of trust and transparency that empowers banks, businesses, and researchers.
Anchal's journey into entrepreneurship was fueled by a simple observation: while information on listed companies was readily available through platforms like Bloomberg, the vast world of private Indian companies was a "black box." "In India, there was a tendency to hide information or use it as leverage," Anchal reflects. "We wanted to build a platform that makes this data accessible to everyone, fundamentally changing how due diligence is performed in the country."
The Problem: The 'Black Box' of Private Data
Before Tofler, finding reliable information on private companies involved navigating bureaucratic hurdles and manual filings. Tofler solved this by digitizing and aggregating data from the Ministry of Corporate Affairs (MCA) and other official sources in real-time. "We don't just provide data; we provide insights," Anchal explains. "Whether it's a bank assessing a loan or a business checking on a competitor, we offer the transparency needed to make informed decisions."
Bootstrapping to Scale
Tofler is a rare success story in the Indian startup world—a profitable, bootstrapped venture that has scaled significantly without massive venture capital backing. Anchal emphasizes the importance of conviction and sustainability over top-line growth fueled by burning cash. "We didn't start with a massive team or a huge office," she notes. "We focused on building a product that solved a real problem, and the revenue followed organically."
This lean approach allowed Tofler to iterate quickly and stay responsive to customer needs. From its initial break providing data to large consulting firms to becoming a go-to tool for thousands of professionals, Tofler’s growth has been driven by the quality and reliability of its information.
The Future of Corporate Intelligence
Looking ahead, Anchal sees Tofler expanding its reach into different segments of corporate intelligence. While the focus remains on the Indian market, the platform's ability to handle complex unstructured data makes it a powerful tool for global institutions looking to understand the Indian corporate landscape. "India is a massive, untapped market," she observes. "The next decade will be about digitizing every layer of our economy, and Tofler aims to be the intelligence layer for that transition."
Anchal's Advice for Aspiring Founders
- Start Small (MVP): Test your idea while you are still in a job or college. Build a Minimum Viable Product to validate your assumptions before making a serious commitment.
- Focus on Profitability: Don't just chase top-line growth or funding. Make sure the core of your business is sustainable and generates value.
- Leverage Your Professional Network: Anchal used her background as a CA/CS to identify gaps that she was uniquely qualified to solve.
- Be Persistent: The early days are a roller-coaster. Success comes to those who have the grit to stay in the game and iterate through the challenges.
Navigating the Global Competition
Anchal remains mindful of the competition from global giants and the rising tech power of neighboring countries. She believes that the current generation of Indian entrepreneurs must focus on high-quality, specialized products that can compete on a global stage. For Tofler, that means staying ahead of the curve in data accuracy and real-time delivery, ensuring that they remain the definitive source for Indian business information.
Tofler at a Glance
- Integrated Platform: Providing real-time data on private and public companies.
- Core Audience: Serving banks, consulting firms, and due-diligence professionals.
- Business Model: A successful, sustainable, and profitable bootstrap venture.
About the Guest
Anchal Agarwal is the Founder and CEO of Tofler. A Chartered Accountant and Company Secretary, she has a deep understanding of corporate law and financial information systems. Before starting Tofler in 2013, she worked with Price Waterhouse Coopers (PwC), where she witnessed the inefficiencies of the existing business information landscape. Anchal is a visionary leader dedicated to bringing transparency to the Indian corporate sector and is a recognized figure in the Indian data-tech community.
Tofler is India's leading business information and research platform. By aggregating real-time data from official sources, Tofler provides comprehensive profiles, financial records, and network insights on millions of Indian companies, serving as an essential tool for corporate due diligence, risk assessment, and market research.