FamPay originally targeted a $25M to $30M Series A before expanding
Sambhav Jain · Fampay Founder on Fintech for GenZ and Funding ft. Sambhav Jain | 100x Entrepreneur · Aug 30, 2021 · at 18:57
FamPay co-founder Sambhav Jain explains why their Series A round expanded to $38 million instead of the originally planned $25 million to $30 million.
0:00 / 0:32exact quote · 33.0s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“And on the quantum, we were actually not planning to raise such a big round. We were planning to really raise a little lesser, close to our 25 to 30. Million round, but it just happened that when we started having conversations it everything that we were just chatting about the different numbers and how even Sequoia is existing investors were keen on participating in the round.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Sambhav Jain
Jain: Most of the next 500M internet users will be minors
“Whenever we are talking about the next half billion users on the internet, we often forget that majority of them are going to be minors, right? Every year millions of teens will get their first smartphones.”
Jain: School students make better brand ambassadors than college students
“And what's unique with school kids is that like probably college students might not feel great about being a brand ambassador for a company, but while you're in school, because the exposure is so less, it feels very unique that you're working closely with the …”
Sambhav Jain: Teenagers act as household CTOs influencing major family purchases
“Teenagers may not be the decision makers at home, but they are the decision influencers. So just. Look at any purchase that that is made in home, right? Be it a TV, a car, phone, refrigerator, or anything. Parents go to their kids and ask like which one to buy…”
Sambhav Jain: Physical payment cards do not need printed card numbers
“So we're like, can we remove this? And because anyway, when I'm transacting online with the physical card, I don't need numbers. I just need my pin. I'm swiping the card and for shopping online, I just need the numbers. So we can push the numbers on the app th…”