Happy Tuesday! Got plenty of cool news lined up today- Google is looking to beef up its focus in India & I came across an interesting fintech company looking to help people who share expenses. But before that I have kinda been working on a small side-project to help companies collect user feedback on their websites so if anyone would like to try it out, please DM me.
➡️ In the midst of the global pandemic and heavy geopolitical tensions (b/w China & the World), it seems like the West has its eyes on India more- significant investments in the telecom sector (Jio), SMEs (Amazon), and now even Google plans to "help accelerate adoption of digital services"
➡️ The American computing giant plans to invest $10 billion in India over next five to seven years. And the company plans to do so through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
➡️ The company is planning to invest in four core areas: i )enabling affordable access to information in localized languages (with the next billion users probably preferring to communicate in Indic languages, this makes sense); ii) building products & services unique to India (Ex- Google Pay Tez & Spot); iii) Empowering businesses as they digitize; and iv) leveraging tech & AI for social good.
➡️ India might be Google largest user base (population wise) and it only makes sense that they continue to invest & grow here as India continues to digitize. I can't recall too many investments that Google has made in India (other than Dunzo), but with the new "fund" I could see them investing in and/or acquiring Indian startups.
2. https://bit.ly/38UCq0T: Group payments company goDutch raises $1.7M
➡️ The trying-to-be-punny consumer fintech company goDutch has raised $1.7M in a round led by Matrix with further participation from Global Founders Capital, Soma Capital, VentureSouq and a couple of angels.
➡️ Splitting rent & expenses with roommates/flatmates has been a problem (in the first world & Tier I Indian cities) for ages and companies have tried and largely failed to come up with a decent solution for it. Apps like Splitwise are somewhat popular in the US but still has a bunch of friction.
➡️ goDutch is taking a slightly different approach where goDutch issues a group of people a card that can be used by the group. Then one can further manage shared expenses through the app where you roommates can settle outstanding payments through UPI within the app.
➡️ With the goDutch card, once a payment is made all group members pay automatically in real time (which I think is the coolest feature) and people don't have to manually issue reminders etc. I'm still not sure how "big" of a problem this is in India (from a number of people perspective & vitamin vs crocin problem) but we will find out if India goes dutch or not.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/chetanp/status/1282895774070607872
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