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nihar bobba Profile
nihar bobba

@nbobba

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Building @btv_vc | previously co-founder @wizelyapp (acq @getonecardin )

New York, USA
Joined March 2010
Don't wanna be here? Send us removal request.
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@nbobba
nihar bobba
2 years
Some open ended reflections from the past year on my transition from founder to early stage VC @btv_vc . Previously, I strongly believed early stage VCs should always be former founders/operators, I was wrong 🧵
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@nbobba
nihar bobba
2 years
Indian founders are increasingly treating @ycombinator like the entrance exams we've gotten used to growing up. YC means nothing if you don't know how to build the company afterwards. The hours spent on the YC app are hours lost on building a company that is uniquely indian.
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@nbobba
nihar bobba
4 years
1/n Thread on Indian neobanking. We've seen a ton of hoo-ha about the space over the past 6 months w/some great websites sprouting up also. Summing up my views based on my experience in the space since ~ 2017. Thanks @itaidamti for prompting the thread...
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@nbobba
nihar bobba
7 months
ChatGPTs answer is in fact correct here. There are many reasons for India to have its own homegrown AI products but @bhash , this example is short sighted and you know that.
@bhash
Bhavish Aggarwal
7 months
This is why we need to build India’s own AI @Krutrim !
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@nbobba
nihar bobba
2 years
Psyched to be joining @btv_vc full time as a Principal to continue building a fintech powerhouse with this incredible team & special thx to @pitdesi on convincing me to dip out of Wharton 🙏 @iamjakestream @_laurenmessner @jbahrdestefano @SloaneNichole @jenny_colgate @digmonster
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@nbobba
nihar bobba
2 years
I’m excited to share that I’ve joined @btv_vc as a Venture Partner! I’ve had a great time getting to know the team over the past few months. They’re an incredibly humble & intelligent group building a venture fund that I wish I could’ve pitched to when I began building Wizely.
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@nbobba
nihar bobba
1 year
MBA candidates playing summer founder and hiring a summer chief of staff 😂😂😂
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@nbobba
nihar bobba
1 year
What’s our investment thesis @btv_vc ?🧵 It's that time of year when deal flow is slow, and venture funds start spinning out market maps and investment theses. So that got me thinking, what’s our thesis at @btv_vc ? Yes, we’re a fintech fund & yes, we can start to throw around
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@nbobba
nihar bobba
9 months
At @btv_vc , we're excited about companies building for global trade. Opportunities in this space take various forms from b2b payments (i.e workflows), to trade financing, cross border payments infra and b2b marketplaces. Publishing some thoughts recently shared with our LPs 🧵
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@nbobba
nihar bobba
2 years
As an investor, if you’re going to go scope out competitors for your own portfolio, at least have the decency to be half decent at it. This is just laughable and poor form.
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@nbobba
nihar bobba
1 year
Seeing so many India + SEA startups that solely raised from US funds at pre-seed/seed. US funds and accelerators with little to no understanding of local dynamics blindly comped to what they saw locally on both idea and price and threw money into these. Little did they know they
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@nbobba
nihar bobba
5 years
Had a chance to read the @TheKenWeb piece on @thirdwaveindia . As a reader of the ken since 2017, have to say I’m disappointed. I saw an imbalanced piece leaving out important points and making claims with what appeared to be questionable vetting.
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@nbobba
nihar bobba
6 months
Excited to announce @btv_vc 's investment into BRKZ. In 2022, we led their seed round to support ex- @careem MD, @manna_87 , in building a procurement platform & marketplace for the construction industry, taking advantage of MENA's heavy investment into infrastructure. @pitdesi
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@nbobba
nihar bobba
2 years
Transition from founder to VC has taught me this 👇 As a Founder: How do I use urgency to exercise sound judgement VC: How do I use patience to exercise sound judgement
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@nbobba
nihar bobba
2 years
Great to have Tiger Global join us in backing @monnai_corp . Since @btv_vc led its seed round last year, Monnai has launched its 1st product, expanded to 25+ flagship customers across 4 geographies and today covers 5Bn+ consumers with one single API (1/2)
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@nbobba
nihar bobba
4 years
3/n These direct bank partnerships can really be split into 4 parts that I'll elaborate on below. However, to sum up - unlike in the US/EU, Indian neobanks are largely stuck building UI layers on top of incumbent products (lipstick on a pig).
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@nbobba
nihar bobba
2 years
Why we invested in Monnai? 🧵 @btv_vc @monnai_corp @pitdesi Emerging mkt fintech is a massive opportunity that promises hundreds of millions of customers. But fintechs & FIs have massive reputation + $$ risk given how loose onboarding and identity standards can be.
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@nbobba
nihar bobba
2 years
Wrapping up 2 weeks in SF spent with friends, family and the incredible team @btv_vc . From “NYC or nowhere” to “Portrero or Eureka”, something in SF feels resurgent 👀
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@nbobba
nihar bobba
10 months
Wife: you need to take your skin care more seriously Me: Vaseline and Cetaphil are fine Wife: You’re wrong Me: why don’t you just buy me whatever, and I’ll use it Wife:
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@nbobba
nihar bobba
5 months
Excited to host and moderate a panel on AI x Fintech at the @whartonfintech conference during #NYFinTechWeek . I'll be joined by @mitch_troy of @trybasis , @hesam_motlagh of @Arkifi and @ac_steele of @ActivantCapital . 📅 Date: April 12 📍 Location: Rise by Barclays
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@nbobba
nihar bobba
1 year
Why we invested in @Plumery_com ? 🧵 @vgoldin @pitdesi @jbahrdestefano At @btv_vc , we think there is a massive opportunity for fintech companies to sell modern technology stacks into traditional banks, making processes more efficient and products more competitive
@Plumery_com
Plumery
1 year
Banking tech startup Plumery raises $4.5 million via @Finextra
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@nbobba
nihar bobba
2 years
Why does @ycombinator continue to back indian saving models that continue to fail at achieving any meaningful traction?
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@nbobba
nihar bobba
4 years
Why super apps don’t work for my finances? There is something oddly unsettling when seeing the opportunity to invest side by side the opportunity to order a pizza. 🚨
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@nbobba
nihar bobba
4 years
4/n Indian neobanks are caught distributing incumbent products through a nice UI (not UX) rather than innovating on the core experience itself. Banks hold this leverage and the customer unfortunately has not experienced much innovation yet...
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@nbobba
nihar bobba
6 years
🤷‍♂️🔥 @SuperhumanCo
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@nbobba
nihar bobba
4 years
After using @Superhuman for ~2yrs now, I've come to the realization that I'd pay the $30 just for "search" when moving emails to folders on mobile. How does search giant, google still not have this for @gmail ?
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@nbobba
nihar bobba
4 years
14/n This last part is the hardest piece and where I believe separation amongst Indian neobanks succeeding will occur. Its still a nascent market for neobanks and only patient capital has a chance of seeing any progress (if any).
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@nbobba
nihar bobba
11 months
Thrilled to announce our partnership with @trybasis ! @btv_vc led a $3.6M seed round, joined by our friends at @AvidVc & @BoxGroup . We're excited to see founders Matt & @mitch_troy build the primary financial intelligence layer for any company, globally. Here's why we invested:
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@nbobba
nihar bobba
4 years
2/n Path forward in India for a neobank is largely via direct bank partnerships. One thing to remember is that Indian banks still hold a massive amount of trust capital and banks don't charge much in noticeable fees given how value conscious Indians are....
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@nbobba
nihar bobba
1 year
@roshanpateI I think blockchain and Gen AI can solve this
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@nbobba
nihar bobba
4 years
5/n Part 1: Tech & Product - This piece with every bank partner is a mess. APIs are rusty which is expected and the internal drive to improve performance even when working with neobank partners is dismal. Open banking PR, sandbox PR etc is largely a farce and a mega PR campaign.
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@nbobba
nihar bobba
1 year
This isn’t exhaustive, and we intend to find more, but broadly, founder/problem fit (so far) has tended to fall into these categories: 1/Silver Haired Domain Veterans 2/Operationally Maniacal Cage Fighters 3/“MBA” Type Problem Solvers 4/Wide Eyed Naive Geniuses (5/n)
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@nbobba
nihar bobba
3 years
@eshan_shetty @GeoffLewisOrg This is uniquely Indian
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@nbobba
nihar bobba
2 years
As a Venture Partner, I'm looking forward to continuing our mission of partnering with and investing in fintech founders at the earliest stages of their entrepreneurial journeys. If you’re an aspiring founder, already a founder, or excited about fintech, DM me and let's talk!
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@nbobba
nihar bobba
2 years
Thrilled to announce @btv_vc investment in Monnai! Through a network of data providers, bureaus & consumer insights partners, @monnai_corp 's off the shelf APIs assess fraud, credit readiness and KYC of consumers across emerging markets in near real time.
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@nbobba
nihar bobba
2 years
@pitdesi Imagine if birds could eat for free today and pay later? Bnpl for birds with new underwriting that let’s you track every seed!
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@nbobba
nihar bobba
2 years
As a founder, your learnings are static in time & lose relevance every day. The insights with which you built products become stale and irrelevant & the arena founders compete in evolves fast. Over reliance on past experience & heuristics is detrimental to the founders you back.
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@nbobba
nihar bobba
4 years
6/n Part 2: Compliance & Reg - This is a big test for all neobanks. Who owns the customer? Banks will never let go, so what does co-ownership mean? How does that impact the UX and the communication experience? What can a customer do on the neobank's app vs the bank app?
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@nbobba
nihar bobba
2 years
And then, leave the rest to luck…both for successful exits and getting to do this job in the first place. @pitdesi @iamjakestream @btv_vc
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@nbobba
nihar bobba
2 years
I voiced this to @pitdesi in our 1st meeting & he instantly cut me off, arguing that some (if not most) of the best early stage VCs he had worked with had never been founders themselves. It’s something I’ve not stopped thinking about as I've made this transition.
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@nbobba
nihar bobba
1 year
X1’s greatest feature is the unlimited number of virtual cards that you can use (and proceed to immediately cancel) for Resy reservations that incur a cancellation/no show fee.
@pitdesi
Sheel Mohnot
1 year
I hated that the 1st benefit X1 touted was the weight of its credit card! I don't get it - do people even know if 17g is a lot or a little? Doesn't resonate with me but I'm not the target. Raised $62M from Craft, Spark, FPV; last round less than a year ago, sold for $95M
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@nbobba
nihar bobba
4 years
10/n The RBI has no official view on neobanking yet so every neobank needs to figure out whether to structure as a BC, DSA, marketing partner or tech partner and the revenue model for each is very different. Neobanks cannot make bps on deposit values...
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@nbobba
nihar bobba
1 year
Watching the team @btv_vc pull this together from a fleeting idea to launch (soon) has been awesome. This team can ship! And maybe that’s why we’re the right fintech accelerator for you! @_laurenmessner @jbahrdestefano @SloaneNichole @digmonster @iamjakestream @pitdesi
@pitdesi
Sheel Mohnot
1 year
We're launching an accelerator @btv_vc ! Fintech founders have unique needs; we're building the best accelerator to serve them. Our first cohort starts in SF on Aug 1. Check us out at - happy to answer any questions, & please send founders our way!
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@nbobba
nihar bobba
1 year
Put simply, our thesis is, and always will be, “the people”. But as fintech investors, how do we think about investing in people? In fintech, opportunities are beginning to show in the hairiest of places as you move further down the stack. And further up the stack,
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@nbobba
nihar bobba
8 months
Amritsari in Koramangala is 🔥, stuff of dreams
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@pacificleo
Prashant Singh
8 months
Went there today. Delicious food. Great Find!
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@nbobba
nihar bobba
4 years
7/n Figuring this out takes months of grit to get something right that actually has equitable value. In the US/EU customer ownership and tech stack largely lies with the neobank. In India, reg stack is entirely driven by the bank partner not the neobank.....
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@nbobba
nihar bobba
2 years
The founder journey certainly equips you with empathy. Putting in extra effort in a pass email, extra patience as founders try to convince you or when portfolio founders are delayed on milestones. Or even a warm smile at events when a shy founder is eager to introduce themselves.
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@nbobba
nihar bobba
2 years
In a career path where feedback cycles are long, relying on your past as a founder/operator is dangerous and quickly outdates you. Instead, irrespective of background, a focus on humility, empathy, curiosity and adaptability to remain relevant is key.
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@nbobba
nihar bobba
2 years
@sandeepssrin Totally agree, but also a great feature for any b2b fintech in India. Lend against locked up TDS to ease cash flow. Emphasis on “feature”
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@nbobba
nihar bobba
1 year
@pitdesi @TurnerNovak In reality, to some extent, Nate is every VC 😂
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@nbobba
nihar bobba
1 year
1/Silver Haired Domain Veterans: Unlike the storied conception that young founders make the best founders, we’ve found that within fintech there are opportunities better suited for the tenured executive. Specifically, one with a hungry ambition to not only build but also show
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@nbobba
nihar bobba
4 years
12/n shared from deposits. Neobanks have very few avenues if any to make sustainable revenue. This is a massive blow considering that the likes of Chime/Revolut make a substantial amount of income from interchange & payments.
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@nbobba
nihar bobba
4 years
9/n Part 3: Commercials - Who makes money where, what revenue pools can be shared, what business metrics look like to ensure "mutual success"? This is largely in the hands of the neobanks negotiating capacity and will differ from startup to startup to get a model that works....
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@nbobba
nihar bobba
1 year
Wishing now more than ever that I did not drop out of Russian lit. Could’ve joined my VC brethren today in opining on the Russian coup 💪
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@nbobba
nihar bobba
4 years
8/n Which makes customer ownership all the more critical for long term sustainable value. A neobank needs to build products for its customers, not the compliance managers. Breaking this limbo can be near impossible.
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@nbobba
nihar bobba
2 years
The mental muscles of why now, biz model evolution etc take far more sophistication that requires a return to the basics of economics, business and macro theory. There’s a reason folks like @bgurley have consistently performed!
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@nbobba
nihar bobba
8 months
In the past year, I’ve spoken to a number of teams claiming to be India’s 1st Save Now Buy Later (SNBL) company. We built this at @wizelyapp in 2017! Here’s why it doesn’t work 👇
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@nbobba
nihar bobba
4 years
13/n Part 4: Alignment and realization of misalignment of strategic expectations - Every Indian neobank realizes soon enough that their vision is in direct conflict with the expectations of a banks goals as well as the priorities of the teams you work with towards integration...
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@nbobba
nihar bobba
7 months
@bhash That’s factually incorrect, historical scriptures, texts etc certainly refer to India as a civilizational entity but not a political one. Regardless, my point was broader. We can agree to disagree, but homegrown AI should compete on more sincere grounds.
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@nbobba
nihar bobba
1 year
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@nbobba
nihar bobba
2 years
Thank you @pitdesi , @iamjakestream , @_laurenmessner , @jenny_colgate , @SloaneNichole , @jbahrdestefano and Yoni - looking forward to all the great work we’ll do together!
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@nbobba
nihar bobba
2 years
Staying truly relevant can be hard in a job that is surrounded by false positives. VCs wanting to network about a company you invested in, a portco raising an up round, founders begging for your time. It’s easy to seek validation in these but it's a dangerous spiral.
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@nbobba
nihar bobba
2 years
The VC job is perfectly set up to provide an ego rush & it can be easy to neglect empathy. And while valuing it can be the reason a founder chooses you over another VC, it’s clear that winning takes a whole lot more. By relying only on empathy, you’ll quickly fall behind.
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@nbobba
nihar bobba
1 year
🔥👀
@pitdesi
Sheel Mohnot
1 year
Launching something new 👀 Searching for office space for 30ish people for a few months in SF. Anyone have spare space for a sublet? Starting Aug 1.
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@nbobba
nihar bobba
8 months
@pitdesi So when are we buying a bank?
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@nbobba
nihar bobba
2 years
Reflecting back, this was driven by a frustration and anger towards the VCs I had engaged with as a founder who for a variety of reasons I had felt “wronged” by. Horse trading, ghosting etc.
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@nbobba
nihar bobba
10 months
@anmolm_ This entire weekend would’ve been sorted with an encounter
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@nbobba
nihar bobba
9 months
MBA Strategy intern who summered in the south of France
@iiiitsandrea
Andrea
9 months
HAUS could have done a pivot to spritz —that would have probably helped them re: distribution, adoption and they could’ve done an amazing beautiful can instead they launched CAVIAR LMAOOOOOOOO 😂😂😂😂😂
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@nbobba
nihar bobba
1 year
@anmolm_ But now there's no traffic
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@nbobba
nihar bobba
2 years
Seed stage founder posting about their recent trip to Davos 🚩🚩🚩🚩
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@nbobba
nihar bobba
2 years
As a reminder, here’s why @btv_vc led @monnai_corp seed round (2/2) @pitdesi @PierreDemarche @ravishp
@nbobba
nihar bobba
2 years
Why we invested in Monnai? 🧵 @btv_vc @monnai_corp @pitdesi Emerging mkt fintech is a massive opportunity that promises hundreds of millions of customers. But fintechs & FIs have massive reputation + $$ risk given how loose onboarding and identity standards can be.
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@nbobba
nihar bobba
2 years
@monnai_corp 👀 “At scale, we expect Monnai to complement credit bureaus globally and be offered as an alternative in areas or regions where bureaus cannot best serve.” @btv_vc @PierreDemarche @ravishp @pitdesi
@nyca
Nyca Partners
2 years
A Call for a Better Bureau. Fooling FICO, Contextual Credit, and a Call for a Better Bureau ! #fintechfundamentals
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@nbobba
nihar bobba
4 years
11/n so finding sustainable recurring models of revenue is important within these constructs that work for the bank and the neobank. Again a huge obstacle for any neobank wanting to GTM. Pls note interchange in India is ~0% for debit cards & UPI and interest income cannot be...
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@nbobba
nihar bobba
1 year
This weekend I learned that ALL CAPS TWITTER is the literal example of degenerative AI. Degenerative & Artificial…
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@nbobba
nihar bobba
2 years
Re-learning the fundamentals of business requires intentionality and adaptability. Dependence on your network of VCs, who often talk their book, risks reliance on group think. Instead, staying humble about what you don’t know and staying curious to fill the gaps are key.
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@nbobba
nihar bobba
2 years
@sandeepssrin @ycombinator We’re debating two different things…
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@nbobba
nihar bobba
11 months
Thanks for having me! @VincentJXue
@ivey_venture
Ivey Venture Capital Club
11 months
🔊🎉💚 EP3 of the Ivey Venture Podcast with @nbobba Is Now Out on Spotify! 🔊🎉💚 We hope you enjoy! 🥂 Tune in here:
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@nbobba
nihar bobba
2 years
Grew up saying Happy Diwali, Eid Mubarak and Merry Christmas. What’s life without a reason to celebrate every single day?
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@nbobba
nihar bobba
4 years
1/ Today @wizelyapp will begin a progressive rollout of our Financial Recipes🌱 & SmarTips⚡️. Over the coming months, we'll continue to bolster Recipes🌱 with increased access to guidance & additional access to offerings that contribute to the financial wellness of our customers.
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@nbobba
nihar bobba
1 year
Simply put, they know what’s wrong with financial services, they have an idea of how they want to fix it, but know that collaborating with the establishment makes more sense than competing with it head on, at least initially (7/n)
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@nbobba
nihar bobba
4 years
@sriramk I wonder how they plan to handle those who turn off read receipts 🤷‍♂️
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@nbobba
nihar bobba
1 year
3/“MBA” Type Problem Solvers: What we mean here is the problem solving, puzzle loving founder who finds opps that exist because of biz model stagnation & industry oversight in part because no one was curious enough to look under the hood (11/n)
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@nbobba
nihar bobba
9 months
One of our first companies from the @TheMint_vc is hiring!
@avyfain
Avy Faingezicht
9 months
🚀 We're expanding the founding team! Join us as our first AI Engineer, our first Designer, or our second Fullstack Engineer (all SF-based). We're creating a financial data platform that gives accounting teams super-powers. You could help us build it.
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@nbobba
nihar bobba
1 year
And so, this means that solutions are becoming increasingly harder and more complex to build, and one’s ability to grok business model durability is called into question far more. When we meet a founding team, the question we ask ourselves is “What’s their right to win?”. Or
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@nbobba
nihar bobba
3 years
@abarrallen @giladrom Great funds have asked for this...
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@nbobba
nihar bobba
10 months
Disappointed that my @WHOOP didn’t account for an extra hour of sleep due to day light savings ending last night. Seems like table stakes no? @willahmed
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@nbobba
nihar bobba
1 year
Back to the top!
@nbobba
nihar bobba
1 year
What’s our investment thesis @btv_vc ?🧵 It's that time of year when deal flow is slow, and venture funds start spinning out market maps and investment theses. So that got me thinking, what’s our thesis at @btv_vc ? Yes, we’re a fintech fund & yes, we can start to throw around
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@nbobba
nihar bobba
1 year
@btv_vc portco, @effectivai helps its partners access, customize, navigate and orchestrate a variety of data sources, and decision points to assess and protect against fraud in a heavily compliant way.
@jbahrdestefano
JC Bahr-de Stefano
1 year
4/ Recent innovation in infrastructure has made this data far more accessible than it has been in the past. The infrastructure and tools available to access and enrich this data and make it easier to use have progressed substantially in the last few years.
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@nbobba
nihar bobba
1 year
Cross selling loans as a fintech is so tough! Saw a guy at the Kith store using cash app to front each of his homies $150 to finance their AF1s purchase. How do you compete with that?
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@nbobba
nihar bobba
4 years
Walking into a bar on a Friday night will tell a very different story, or I'm just walking into the wrong bars.
@amrishrau
Amrish Rau
4 years
The young India (those in 20s & early 30s) have no time for status, wealth signaling, degree show off and most importantly in one upmanship and politics. It’s all about knowledge and freedom.
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@nbobba
nihar bobba
5 years
(1/n) Reading this takes me back to ~ 4 yrs ago when I made the decision to explore the initial idea for Wizely. It’s been a tumultuous 4 years since and as a first time founder starting off in his early 20’s, thought i'd begin to share a learning/day over the next few days. 👇
@paddycosgrave
Paddy Cosgrave
5 years
Starting a company is an irrational decision 1. It will most likely end in failure 2. Your earnings will be lower than if you got a job 3. That job will take a far lower toll on your mental health than a startup Those who do start companies should be applauded
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@nbobba
nihar bobba
6 years
After assessing 3 PGs. More than txn charges it was ease of on boarding and setting of test environment that did it for me! @Razorpay u guys are awesome! @harshilmathur @shashank_kr thanks for @Razorpay 😁😁😁
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@nbobba
nihar bobba
5 months
Learn from the best during the earliest days of your company's journey. @TheMint_vc is accepting applications for our next cohort!
@jbahrdestefano
JC Bahr-de Stefano
5 months
We loved having @jaltma , Founder + Chairman of @LatticeHQ , as our special guest at @TheMint_vc a few weeks ago! It was a great conversation reflecting on the journey of building Lattice. Here are some of the insights + learnings:
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@nbobba
nihar bobba
7 years
Moving from a 2 man home office to a team of 25 people in 1 year has been awesome. One challenge I have is trying to be a part of as much as possible while not falling into the trap of micromanaging. Any advice? @punitsoni @kunalb11 #startupindia #fintech
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