Published: 6/5/2020


It’s Thursday, and we have a cool exclusive for y’all. Nirant is releasing his interview with Ankit Nagori (cofounder of Cure Fit) exclusively to the “Keeping Up With India” newsletter. I’ve had a busy day at work but super psyched to dig into this tomorrow morning (my time) to hear about Cure Fit hitting 1M Daily Active Users & how lockdown has been for the company especially with their Cult Live product. Here’s the link to the interview- https://anchor.fm/niranting/episodes/Cure-Fit-with-Ankit-Nagori-edd6kj. Do give it a listen give your feedback to Nirant (https://twitter.com/NirantK)

Coming to the day’s news, Is WhatsApp getting into lending & another corporate card for startups.

  • https://bit.ly/35gOuri (YourStory): Happay’s corporate card product comes out of beta
  • ➡️ In some product launch news today Happay, a company providing products for corporate spend & invoice management, has launched a corporate card product for startups.

    ➡️ The company already has 6,000+ customers across their other products, while the new product ‘Epic’ has been in beta for a while. It lets companies issue physical and virtual cards to its employees as well as lets the company put their recurring SaaS tools charges on these cards.

    ➡️ The company also issues these cards to startups without any collateral, which traditional banks might not following the model popularized by Brex in the US.

    ➡️ If you have been a subscriber for a while, you might remember me talking about a similar company Karbon with a similar product and my outlook being slightly negative on them. I think Happay is different in the sense that they already have several other products and an existing base of startups to onboard onto to the corporate card product.

    ➡️ I’m also very intrigued about how Happay’s card issuing product fits into all this (they are definitely issuing cards for their customers via this corporate card product), but who else are their customers?

    ➡️ I haven’t publicly seen any information about this yet but building all the card issuing infrastructure has certainly helped the company out, and turning it into a service for others could help spur a future revenue line (if it isn’t already).

  • https://tcrn.ch/35ifbf7 (TechCrunch): WhatsApp the newest lender
  • ➡️ Seems like Facebook & Jio can’t keep out of the news these days, with WhatsApp possibly being the latest entrant in the “Lending is a Feature” club.

    ➡️ Apparently the company declared to regulators in the company that it would be “providing credit or loans as one of the “main objects to be pursued by it in the country.”"

    ➡️ Building a credit product integrated into WhatsApp Pay and UPI could be quite interesting as no one has really done it so far. India has a couple of companies offering users to pay later on online platforms, but in the offline space there really isn’t anyone (other than informal udhaar).

    ➡️ This also all rests upon a wider rollout of WhatsApp Pay that also hasn’t happened yet, and it’d be interesting to see how far Facebook & WhatsApp go to implementing features solely for India.

    ➡️ In their Q1 earnings call earlier today, Mark Zuckerberg mentioned that Facebook would be building tools for small merchants & shops to sell online through WhatsApp and while their partnership with Jio is very important, those features would likely be released to other countries as well.

    ➡️ Now it’s just a waiting game to see WhatsApp Pay roll out & to see Jio and WhatsApp capture the #KiranaTech landscape (while also possibly launching consumer credit products)

    Feedback & ❤️ always appreciated

    More on Monday :) BONUS (Tweet of the day): https://twitter.com/sarahfrier/status/1255614062475403265