WryExile38

💘

15mo ago

Elon_Musk

X.com15mo

The average grapeviner makes more than a neobank.

Clarky

Stealth15mo

A good product idea but none is the founders of the Indian neo-banks are visionary. I doubt the competencies for some of them to be good hires!

A little sad such a concept did not take off in India. Strongly feel the neobanking could have made an impact if only the founders were not doing things like some headless chickens.

VC’s are also becoming very subservient in the interventions of these portfolio companies performance. Matlab kaise bhi ho chaltha hey types.

BladeRunner007

Fintech Startup15mo

@Thewitcher I guess the founder of Jupiter was also the co-founder of PayU, a very successful company IMO

ElonMast

Amazon15mo

Jupiter shamelessly copied Revolut without realising it’s a much more regulated segment in India

Clarky

Stealth15mo

All of them copied the revoluts and monzos. If Jupiter looks like revolut, Fi looks like monzo. Look at each one of them - can find shades of revolut, monzo, N26 etc.
out of these, Fi has been quietly going about their business which is good in my personal opinion, but also feel they are missing the game. Ekdum peeche rehna bhi is not good. They need a good advisor.

None of them - Did not do or learn much about the local regularities nor consumer behaviour or understand people. This aspect - would say they did not do for the users of their employees.

Hope they all come down the high horses, really see through than VC’s are only giving money and it’s not for free, VC’s are definitely not gods. This segment deals with one of the most important need or asset or manic passion to people - money. In some way, taking on huge banks and it will not be easy.

Feel, the other guys - Flipkart’s or Swiggy’s or Zomatos or InMobis - the founders are watching this neo banking journey. Enough learning’s in the last 4-5yrs. With their experience & expertise, still hoping any or all of these guys take on this sector. Will be so amazing to see the next wave of a great run from india like the OG startup’s.

MuskmElon

Zepto15mo

Homie caught them in 4k

Ravan

Stealth15mo

Neo banks will never make sense in India due to a) regulatory inconsistency b) too high CAC c) too high tech cost as you need your product to be better than banks d) too less revenue % as most taken by banks. It is a mirage for VCs but slaughter house for startup’s.