Launched by Shalin Maheshwari and Lalit Singh, the Workforce-as-a-Service (WaaS) startup Meraqui aims to bridge the gap between organizations and blue-collar workers in India. Its tech-driven approach is designed to streamline workforce management within organizations.

India has approximately 70 million enterprises, of which about a fifth have offices and a GST number, according to staffing solutions provider TeamLease’s 2020 annual report. Conversely, the country has approximately 450 million blue-collar workers, as per BetterPlace’s Blue-Collar Workforce Report. However, only 8-10% of these workers have access to formal jobs, less than 5% have access to upskilling opportunities, and only 1-2% have access to formal credit.

While conducting their research, Shalin Maheshwari and Lalit Singh observed that the industry was highly fragmented. Most operators were small-scale, focused on a specific aspect of workforce lifecycle management, and used minimal technology.

“We felt a partner for both stakeholders—employers and employees—was essential so they could focus on their core functions without being burdened by the nuances of workforce lifecycle management,” says Shalin.

“Organizations need a reliable, transparent, and efficient partner to fulfill their workforce requirements. This realization led us to create Meraqui, a workforce management-as-a-service (WaaS) platform,” he adds.

Founded in 2019, Mumbai-based Meraqui is a tech-enabled platform that provides holistic, end-to-end lifecycle management of grey- and blue-collar workers.

“We serve as the bridge between employers and the workforce. Although we are sector-agnostic, the majority of our work is in e-commerce, logistics, supply chain, warehousing, and manufacturing,” Shalin tells YourStory.

Currently, Meraqui operates in over 25 states and 82+ cities across India. The startup has partnered with more than 150 clients, including marquee global and Indian blue-chip companies, MNCs, and unicorns.

The Product
Meraqui’s proprietary tech stack, known as the Sheldon workflow, covers all aspects of hiring and workforce management—from facilitating recruiters and conducting interviews to onboarding candidates. Selected candidates receive a DIY onboarding link via chatbot/SMS, ensuring OCR-backed automated background verification and onboarding.

Once onboarded, a GPS-enabled geo-fencing and facial recognition-based attendance management module tracks attendance, feeding timesheets into the payroll module for automated pay register generation.

“Our system includes a comprehensive ENGAGE ecosystem for all stakeholders. Clients access a single-window portal that provides a transparent view of their workforce, compliance status, payments, and more. Workers benefit from job opportunities, skill development, and financial services through the ‘Mera World’ Android app. One of our most popular features is pre-approved early wages, which helps workers during emergencies,” Shalin adds.

The Unique Selling Proposition (USP)
According to Shalin, Meraqui stands out for several reasons:
1. Sourcing from Rural Areas – The startup sources workers from tier-III and IV cities and rural areas, which is highly appreciated by its clients.
2. Sheldon Match Logic AI Engine – This AI-driven engine ensures a best-fit match between jobs and candidates, leading to higher satisfaction and significantly reducing attrition.
3. End-to-End Workflow – Meraqui’s ecosystem-driven approach benefits both candidates and clients, making its services unique.

“Larger players in this space have legacy advantages, but agile startups like ours win customers with faster execution and customized solutions,” Shalin says.

The Team
Shalin and Lalit previously worked together at fintech platform KapitalTech.
Lalit, an engineer with a master’s degree in IT from NITIE Mumbai, has worked with companies such as i2 Technologies, ITC InfoTech, Samsung, and Unilever IT.
Shalin, a healthcare professional, has a deep understanding of business needs and operations, drawing from his family’s experience in healthcare, pharma, manufacturing, and financial services.

“We consistently noticed gaps on both sides—employers and employees. There was no effective bridge for blue- and grey-collar workers. From 2016-2018, we refined our ideas and committed ourselves to this endeavor. In January 2019, we launched Meraqui,” says Shalin.

Meraqui currently operates with a lean team of approximately 70 employees.

Market and Future Plans
According to Verified Market Research, the workforce management industry is projected to reach $570 billion by 2028. India lags behind the global average in terms of flexi-staffing penetration.

“With rising infrastructure investment, digitization, PLI schemes, government-led modernization, increased startup investments, and the global shift towards a China+1 strategy, organized players in this space have significant growth opportunities,” Shalin explains.

Since its inception, Meraqui has grown at nearly 250% year-on-year, maintaining positive unit economics.

“We currently operate at an ARR of ₹100 crore, with secured plans to grow 4x in the coming fiscal year. The highest growth is occurring in Delhi-NCR in the North and Bengaluru in the South. Geographically, our revenue contribution is 40% from the South, 25% from the North, 25% from the West, and 10% from the East,” Shalin adds.

Competition and Revenue Model
In India, Meraqui competes with players such as Smartstaff, BetterPlace, and Vahan, while globally, Workrise and Jobs&Talent are prominent in this space.

“Our services start with basic recruitment, where we charge a one-time fee for hiring and management. However, 95% of our work falls under the ‘hire and manage’ model, also known as Workforce-as-a-Service (WaaS). This model operates on a recurring revenue basis, billed monthly,” Shalin says.

Meraqui aims to onboard over 300,000 associates onto its platform for 2,000+ clients, targeting an ARR of ₹4,000 crore by 2025

Contact Information
For more information, visit Meraqui’s : https://meraqui.com/

Meraqui Ventures Pvt. Ltd.
Office Address: #303, Nyati Millenium Premises Cooperative Society, Viman Nagar, Pune, MH 411014
Phone: +91 96252 09004
Email: [email protected]
Website: https://meraqui.com/