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Leader Talk: In Conversation with Vedanarayan Vedantham, SME & Startup Business Head - Razorpay
Leader Talk: In Conversation with Vedanarayan Vedantham, SME & Startup Business Head - Razorpay

March 19, 2021

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  1. Beyond optics, what does being a Unicorn entail – additional roles, responsibility from a brand standpoint?

From a brand standpoint, we are always mindful of our responsibility towards the ecosystem. While Shashank & Harshil (our founders) have become the poster boys of startup success, they are always extremely conscious of the value that Razorpay brings to the table. Actions follow in accordance. India houses 39 Unicorns today but Razorpay is amongst the few that caters to the B2B segment and lives the vision of Atmanirbhar Bharat every single moment. Bangalore is their home and that’s where the company is founded.   

  1. I read in a Tech Crunch article where the founders have spoken about the early days of 2014 when 11 people were stationed in a room and subsequent meetings with 100s of bankers. What were the learnings from those days which you would like to pass on as a legacy?  

The founders were very clear from the beginning about the kind of products that they want to build and the market segment they want to address (and not address). The vision was strong and it required bold decisions to be made in terms of which market to address, etc. Startups should have a focus, and an obsessive one at that, about the market fit.

  1. Your latest funding, Series D fetched you 100 million dollars. What’s the difference in approach while pitching for Series A, say a million dollars, and the later rounds like this. Your tips to startup founders. 
  • What is your total addressable market and are you there optimally?
  • Are you constantly delivering on promises?
  • Do you have a playbook to achieve scale?

 

  1. Do you even consider Whatsapp Payment function as a challenging development? How are you addressing it – any specific ideas you may like to share, please?

We don’t consider them a threat because our market segments are essentially different. They are in the P2P space.

 

  1. The skills for the future specifically in Fintech – what advice would you give to aspirants and seasoned professionals? Perhaps you can touch upon a few areas and how does one go about acquiring those skills.

I’d reckon a combination of right & left brain thinking. The creative part is about developing a marketing plan that has to be backed by numbers/analytical thinking. Left AND Right brain thinking.

And of course two other attributes – domain knowledge and the ability to function in ambiguity under extreme pressure.

 

  1. Any specific policy recommendations that you may want to share, please?

The ease of doing business is a big ask. And, fostering an ecosystem that can accelerate digital payments. Also, the environment should be supportive of smaller companies. 

 

  1. From a business model standpoint, what are some of the learnings during this crisis?
  • Need more skin in the game. And, it’s a symbiotic relationship – when our customers make money, our business grows as well.
  • Developing relationships with customers – much greater focus. Loyalty is a valued quality, as the pandemic has shown.

 

Vedanarayanan engages with NASSCOM in a Fireside Chat and talks about what it takes for a startup to get there right on top. He shares some pointed insights on what should young founders always bear in mind, and of course, the critical learnings during the pandemic.

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