How Skydo Found Product-Market Fit in India’s Cross-Border B2B Payments

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An Operator's Blog - with Soumitra Sharma

Soumitra Sharma

26 episodes

6 days ago

An Operator's Blog is hosted by Soumitra Sharma, General Partner at Operators Studio, a micro-VC firm focused on the US-India corridor. This podcast takes you into the world of startups and venture capital, featuring candid conversations focusing on sharing real operating insights, tips, and playbooks that you can immediately start using to solve your biggest challenges as a founder and operator. Join Soumitra as he cuts through the BS & interviews top founders, operators, and investors who have built businesses in the trenches for decades.

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How Skydo Found Product-Market Fit in India’s Cross-Border B2B Payments

An Operator's Blog - with Soumitra Sharma

1 hour 15 minutes 59 seconds

4 months ago

How Skydo Found Product-Market Fit in India’s Cross-Border B2B Payments

This episode goes in-depth into Skydo’s journey from Day 0 to emerging as a category leader in India's cross-border B2B payments today, helping more than 6,000 Indian products & services exporters receive payments from 150+ countries & in 32+ currencies.

We cover everything from the untapped cross-border payments opportunity, learnings from fintech MVP iterations, doing customer research to identify unique product & business model insights, the philosophy of "do things that don’t scale" and figuring out differentiation pre-PMF, leveraging founder-led sales to acquire early customers, building a culture of radical transparency, learnings from VC fundraising and finally, Skydo’s plans for the next 2 years.

Joining me for this discussion are Skydo's co-founders - Movin Jain and Srivatsan Sridhar. Previously, Movin held leadership roles at PhonePe, Meesho & Ola, and Srivatsan at McKinsey, Ola, and Rupeek.

TIME STAMPS:

(01:00) The Skydo backstory

(04:08) Why cross-border payments is an untapped opportunity

(09:10) Iterating a fintech MVP

(16:54) Examples of “do things that don’t scale” in fintech

(20:47) Figuring out product differentiation at the early stages

(26:52) Importance of intellectual humility

(30:09) Finding early adopters in a high-trust business like fintech

(35:01) Right-sizing the early sales team

(36:53) Optimizing the marketing funnel

(42:51) Doing “unscalable” founder-led customer service to differentiate

(44:59) How to discover what to build or improve in a B2B payments product

(51:37) Building a culture of radical transparency

(59:30) Learnings from VC fundraising

(1:07:38) Navigating cross-border payments regulations

(1:14:35) Why should Indian exporters prefer Skydo over traditional banks?

Connect with Movin - https://www.linkedin.com/in/movinjain/ and Srivatsan - https://www.linkedin.com/in/srivats80/

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Check out "An Operator's Blog" (https://operator.blog/) for weekly posts on Startups, Investing, and Life.

I am a venture investor focused on the US-India corridor. Feel free to reach out on LinkedIn (https://www.linkedin.com/in/soumitrasharma5/) and follow me on X (@soumitra_sharma).