The number of retail grocery retailers across India in 2022 amounted to about 13 million.
Grocery retail account for about 65% of India's overall retailers.
And the most common problems faced by these retailers on a financial front up until a few years back were -
In 2018, BharatPe was started to cater to these problems faced by every day retailers in India.
Since then the company has grown to enable 10 million merchants in 400+ cities, processing US$ 20 bn of annualized TPV in payments.
During the peak of Covid, they also joined hands with ICICI Lombard to launch Coronavirus insurance cover for shopkeepers. To enable hands-free checking of transactions they also launched Speaker.
To know how digital payments turned out as a big break for them, we’ve got BharatPe founder Shashvat Nakrani & CEO Suhail Sameer on our guest seats this time.
In this episode we discuss-
01:35 - Expectations with BharatPe’s current scale
03:17 - Joining a Rocket Ship as a CEO
05:10 - Changes in culture and customer offerings in the last 2 years
12:19 - Very less attachment to a particular role amongst founders & CEOs
16:30 - Dealing and coming out the challenging times at BharatPe
18:17 - Zoho Sponsored – Prashant Ganti on Where do founders struggle with Payroll and how can they fix it?
19:33 - Helping the team innovate faster and plan Go-To-Market strategy
25:37 - Strengths & Weakness of Shashvat
29:33 - Strengths & Weakness of Suhail
31:03 - Handling the firing decisions
35:17 - What are the things they bond over?
36:38 - Processes v/s Hustle in 0 to 1 and 1 to 10 journey
40:49 - Secret recipe behind success at 0 to 1 on a product-level
44:02 - Idea behind building distribution network
47:33 - Suhail’s top priorities while joining BharatPe
49:29 - Biases and things Suhail had to unlearn
55:21 - Listening to Younger v/s Older Team members while decision making
58:39 - Next Chapter of BharatPe
01:01:00 - What is being IPO-ready?
01:07:39 - Things which they could have explored outside of Fintech?
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