The Ledger
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Indian venture capital firms historically did not understand enterprise SaaS
“In India, the venture capital's appetite to understand this kind of enterprise proposition your new SaaS enterprise proposition for a new industry, I think was very less. I think people didn't get enterprise at all in the Indian venture capital community.”
Sankaran: Selling GRC platforms to SMBs under $20k is a new model
“This is usually traditionally called as governance risk and complaints platform. It's only sold for enterprises. They go sell for half a million dollar to an average client. So I think this new business model of selling for two, 20,000 dollars or even lesser t…”
FixNix's attempt to partner with the Reserve Bank of India failed
“In fact, we tried partnering with the regulator of India, Reserve Bank of India. We tried doing a public-private partnership. We tried form in their own cloud to focus on some markets like credit union, community banks. But it was a big dud. I think focusing o…”
Sankaran: FixNix pays referral partners a recurring 20% commission
“We pay 20 percentage of the recurring revenue. In fact, if they bring a 6000 dollar deal, they get a recurring 20 percentage commission out of it.”
FixNix plans to raise $5M to $10M via crowdfunding and partners
“Now we are looking at five to ten million, maybe five through a crowdfunding five, maybe through other partners who may be interested in the space.”
Sankaran: FixNix will cross a $1 million run rate in 2021
“Yes we are seeing a huge attraction post COVID-ninete.”