Dileep Thazhmon, founder and CEO of B2B banking platform Jeeves, explains how corporate spend breaks down across payment rails.
Insight
Thazhmon: Industry outsiders have an advantage building global financial infrastructure
“The fact that you're an outsider is a really good thing because you don't look at it the same way. If I had 25 years of banking experience, I'd just be so coded in a certain way of like, well, this is deep. I can't do anything more. Let's just do one country, …”
Disclosure
Thazhmon: Jeeves operates in 25 countries and seeks full bank charter
“We covered 25. We are filing to become a full bank by next year as well.”
Insight
Thazhmon: If you can't pay users to use it, they won't pay
“You should start with, can you give the product for free? You should start with, can I pay you to use the product? If I can't pay you to use the product, there's no scenario that you can charge for the product.”
Insight
Thazhmon: Family co-founders bring trust but turn personal life into work
“I think the biggest thing with founders is you need someone you trust. And the thing you have with family, good or bad, is usually that trust. The flip side is a lot of your relationships start skewing into work. Everything becomes like a work component.”
Disclosure
Thazhmon: Jeeves initially validated foreign demand by eating US card FX fees
“We started shipping U.S. Cards, and we just ate the FX. It's not a good business model, but it shows there's demand. And then I'm like, okay, now let's go get licenses.”
Assertion Not checkable as stated
Thazhmon: Jeeves investors went pencils down on funding day due to Ukraine war
“I remember our last round, it was supposed to be funded on end of February, 20, 22, which was, by the way, when the Russia-Ukraine, you know, invasion war, etc, started. And that was another whole cycle where You know, people were just like literally the day o…”