Sambhav Jain and Kush Taneja co-founded Fampay while being in their final year of college. Fampay is a prepaid card for teenagers that they can use to transact online and earn Famcoins in return for every spend. They have more than 2 Million registered users and recently launched India’s first doodle card for teens that you can check out here – https://famcard.me/
Listen to the entire episode to understand more about the teenagers’ spending pattern in India, their major challenges while cracking a banking partnership, building trust initially, acquiring the first 1,000 customers, and a lot more.
Timestamp:
0:00 – Introduction
1:36 – Starting Fampay In Final Year Of College
9:17 – Doing Initial Market Research For Fampay
12:40 – Applying At Y Combinator
15:16 – Designing Prototype Before Applying To Y Combinator
17:38 – Family Background Of Co-Founders Of Fampay
21:18 – Journey After Y Combinator
23:24 – Building Product In Three Months To Pitch At Demo Day
29:11 – Closed Fundraising Before The Demo Day
30:51 – Building The Product And Team
32:42 – How Does Famcard Work?
33:57 – Teenagers are the CTOs Of House
36:16 – Acquiring The First 1,000 Users
40:41 – Creating India’s First Numberless Card
43:18 – Launching Teenagers Brand Ambassador Program
48:15 – 1,000 Users To 1 Million
49:43 – Convincing Parents To Trust Fampay
51:11 – Product Engineering Challenges
53:38 – Sahil’s News App – Papa News
56:18 – Fampay Team Members
59:14 – Major Challenges Faced
1:04:26 – Launching Famcoins
1:06:52 – Teenagers Spending Pattern In India
1:07:58 – RAPID FIRE
1:25:24 – Final Advice For Viewers
Fampay Website: https://fampay.in/
Fampay ANDROID App:
Fampay Youtube Channel:
https://www.youtube.com/c/FamPay/videos
Fampay Instagram: https://www.instagram.com/fampay.in/
Fampay Twitter: https://twitter.com/fampayindia
Fampay Linkedin: https://www.linkedin.com/company/fampay/
Fampay Glassdoor:
Fampay Google Listing:
Fampay Contact Details: https://fampay.in/contact
Fampay is Hiring: https://jobs.lever.co/fampay/
Follow the co-founders on their social media handles:
Kush’s Linkedin:
https://www.linkedin.com/in/kushtaneja/?originalSubdomain=in
Kush’s Twitter: https://twitter.com/iamkushtaneja?lang=en
Kush’s Instagram: https://www.instagram.com/iamkushtaneja/?hl=en
Sambhav’s Linkedin: https://www.linkedin.com/in/sambhavanandjain/?originalSubdomain=in
Sambhav’s Twitter: https://twitter.com/_sambhavjain_?lang=en
Sambhav’s Instagram: https://www.instagram.com/9sambhavjain9/?hl=en
Sambhav’s dance video: https://www.youtube.com/watch?v=Qx1Eo3ncwZ4
For Shorter clips from this Session:
https://www.youtube.com/channel/UCyTcGfVEMjBGzgfWTcUcAmw/videos
Books
The Almanack of Naval Ravikant- https://amzn.to/3tfH6bw
Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom- https://amzn.to/3zZcnSZ
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