Happy Friday y'all and welcome to the "100"th edition of the WhatsApp newsletter. I hope you've enjoyed the content so far (whether this is the first newsletter you've received or the 100th one). I initially started the newsletter just as an experiment to see if folks in India would pay for a daily newsletter and this has definitely validated that! I would also really appreciate it if y'all tweeted out the link to the newsletter and why you've enjoyed subscribing so far- https://keepingupwithindia.com/
To another 100 & more editions. For today I wanted to do a different format and talk a little about 2 Indian startups that I've discovered in the last year and why I'm a huge fan of them:
➡️ I've talked about Setu in the past and why I'm a huge fan of this fintech infrastructure company, but here's a quick recap of Setu- A company that provides financial services as plug-and-play APIs for things like Payments, Investments, Credit & more.
➡️ The cool thing about Setu's current payment product is that it could essentially replace a bunch of what payment gateways do. Why pay Razorpay 1-2% per transaction when you can pay Setu a fixed fee irrespective of how many transactions you process (slight caveat: you can only accept UPI payments).
➡️ And the company is just getting started, the company will also build out similar APIs for enabling investments, credit and user's financial data (Account Aggregator). The company is also one of the few Infrastructure cos that has spent time thinking about the developer experience of engineers integrating Setu into their product.
➡️ And while it's still very early days for the company I'm super psyched to see the future of Setu and the companies it helps build.
➡️ Leap Finance is the second company that I've recently come across and am very excited about. I previously talked about the company in Edition 18 (early March) and the company is offering financial services for Indian students studying in the US.
➡️ The company initially started with a college loan product that is significantly better and easier to access that traditional education loans. Leap also restricts students from certain colleges and programs which makes sense since they can better predict outcomes from those particular programs.
➡️ There is also a large number of Indian students studying in the US (UG & PG) and Leap Finance also plans to build other financial services for them. The company has started offering a bank account to international students in the US as well (usually getting a bank account in the US without a Social Security Number is not the easiest) and Leap is doing this in collaboration with SableCard.
➡️ There are some concerns with the future of college education in the US, especially with Trump's executive order to halt the H-1B program but long term I still think hundreds of thousands of Indians will come to the US to study and who better to build financial services for them than an Indian company.
And to wrap up the 100th edition, here's a couple of pieces I've read over the years about the startup ecosystem in India that I've particularly enjoyed:
Feedback & ❤️ always appreciated
More on Monday :) BONUS (Tweet of the day): https://twitter.com/anmolm_/status/1276366744936833024
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