Ishan Rakshit, co-founder of checkout infrastructure platform Shopflo, explains how technical architecture differs between India and the United States.
“The US product differ in this matter because payments success rates is a big problem in India. So we allow direct integrations with payment processors when it comes to India in the U S we don't touch payments at all. We essentially ride on top of the Shopify checkout itself, just enhancing the experience using the certain levers that we have.”
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More from Ishan Rakshit
Insight
Rakshit: Small US customer needs map directly to mid-sized Indian businesses
“What a US small customer wants is very similar to what a Indian mid-sized customers want. What a U S midsize customers want is very similar to what an enterprise is solving for in India.”
Ishan RakshitApr 5, 2023▶ 15:09He Joined VC With No Plan to Stay - Here Is What He Was Really After
Insight
Rakshit: Indian software buyers accept half-baked products bundled with services
“The bar for quality that they have for a product or a software product specifically is really high. Whereas in India, the mentality is that, Hey, I mean, I'm okay with a half baked product, as long as you bundle a great service around it.”
Ishan RakshitApr 5, 2023▶ 9:19He Joined VC With No Plan to Stay - Here Is What He Was Really After
Opinion
Rakshit: India is not a viable market for profitable SaaS businesses
“But when you ask the question that a great investable business, for example, as an investor, it has to make money and India is not a SaaS market for that.”
Ishan RakshitApr 5, 2023▶ 12:17He Joined VC With No Plan to Stay - Here Is What He Was Really After
Insight
Rakshit: Working in venture capital makes you extremely pessimistic
“A role as an investor makes you extremely pessimistic cause your daily job is to say no to ideas.”
Ishan RakshitApr 5, 2023▶ 28:07He Joined VC With No Plan to Stay - Here Is What He Was Really After
Disclosure
Rakshit: ShopFlo avoids formal company culture until reaching larger scale
“We also don't worry about culture a lot, to be honest, at least at this scale. We've realized that we are not reached a scale where We have a stronger culture than a person who would bring it.”
Ishan RakshitApr 5, 2023▶ 32:59He Joined VC With No Plan to Stay - Here Is What He Was Really After
AssertionNot checkable as stated
Rakshit: Indian payment infrastructure is not yet robust enough
“In India, it's very important to do direct connection because otherwise the infrastructure isn't that robust yet.”
Ishan RakshitApr 5, 2023▶ 2:47He Joined VC With No Plan to Stay - Here Is What He Was Really After
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