EP02: Powering over 200 Fintech startups, learnings from Visa and making banks their cheerleaders { Madhusudhanan R — YAP }
Madhu, CEO & co-founder of YAP shares his incredible journey from being at Visa to raising almost $6M to build the fintech platform of the future, using leverage & bank partnerships to create a moat.
From Chennai to the world, the SaaS hub of India has another rock star team, YAP. Currently powering over 80% fintech startups in India and the poster boys of the Startup world — Ola Money, CRED, Muthoot finance and Earlysalary. YAP is the powerhouse infrastructure player that bootstrapped for 5 years before closing 2 rounds of funding in less than a month.
With an education from Institute for Technology & Management, a first time entrepreneur Madhu co-founded YAP in 2015 along with his colleague from Visa.
Show Notes:
2:08 — Introduction
4:38 — Learnings from working at Visa
7:05 — What I learned from working on financial inclusion & the UID at Visa
8:50 — Opportunities to make a difference inside of large companies
10:18 — Prioritizing between 2 products; choosing the Star and de-prioritizing the Dog
14:25 — Creating trust with banks & financial institutions, becoming close partners by adding value
28:07 — Resurgent opportunity for a new age fintech plus consumer business
33:59 — Competing vs Co-operating with large well funded players
35:49 — Process for bootstrapping and maintaining a runway, “we were accumulating more cash than we were spending”
45:56 — Part of the Visa accelerator
52:39 —Serve the disrupted & create a large fintech
1:00:08 — Choosing to fund raise over bootstrapping for longer
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