All is not well at CheQ
A little birdie tells me that they have burned most of the $10M they raised. No wonder they wanted to charge a processing fee on the bill payments.
Talking product sense with Ridhi
9 min AI interview5 questions
They have just done away with the processing fee now. But too late now. I for one will never again trust a fintech with such shady practices. Gave them a chance earlier but they acted too smart for my comfort.
@LayMan What was shady? Charging a fee? Every platform charges for different things.
No, EVERY platform doesn't charge a fee for EVERYTHING.
Shady was the fact that they started off with zero fee, a few weeks later they started charging it, started devaluing their rewards, and have done away with the fee.
All within a few months, mind you.
I heard they're doing very well. They aren't even charging any fees now. Clearly don't need it.
Business 101
- They have run out of money
- Need to raise more money
- Need to show investors high customer growth
- Hence, did away with processing fee
But my point is, if they burnt everything then they can't afford to stop a revenue line
CheQ is dead for me.
What do you use cheq coins for ?? The current rewards or offers don't seem that lucrative to me
Is this the first banger of 2024?