Nitin Gupta, Founder and CEO of Uni — Launching a Pay-Later Product in India | by Anirudh Singh | Wharton FinTech | Dec, 2021

Anirudh Singh

On this episode, I’m joined by Nitin Gupta, Co-Founder and CEO of Uni, one of many quickest rising Indian pay-later suppliers.

Nitin and I cowl a spread of matters, together with:

Being a Serial Entrepreneur:
Nitin has a pc science background. He began his profession with Lehman Brothers in London from 2006–2008, after which began his entrepreneurial journey. He began PayU, which is now India’s largest cost processor. He left PayU to develop into CEO of Ola Monetary Providers. Lastly, in 2020 Nitin exited Ola to discovered Uni, a bank card and pay later firm. Throughout his time at PayU, Nitin’s greatest studying classes have been throughout folks. He remembered main from first ideas considering when he first began, however finally moved away from. At Ola Monetary Providers, Nitin went deeper into the monetary companies area, experimenting with not less than a dozen totally different concepts. Nitin’s present co-founders are from his days working at PayU and Ola. Nitin can also be an energetic angel investor. He both invests into monetary companies or into founders that he is aware of effectively.

The Credit score Panorama in India:
There are 35M Indians holding 60M bank cards with about $150B in annual spend and $10B in income. Nonetheless, it is a tiny fraction of the Indian credit score market. There are 190M Indians who’ve taken loans previously and subsequently have a presence on a credit score bureau. There are 150M Indians who purchase items on-line. The expectation is for the bank card business in India to develop 3x in 5 years, and an incremental $100B in market cap.

Acquiring a bank card in India was so much simpler previous to the 2008 monetary disaster. Afterward, banks turned extra conservative and bought accustomed to a better RoA. Banks’ decrease danger urge for food and better income expectation has slowed bank card enlargement available in the market. Fortunately, as a result of emergence of pay later playing cards, clients now have an alternative choice to a bank card that also offers them an analogous product.

Constructing Uni:
Uni is Nitin’s fourth try at constructing a bank cards enterprise, the primary being at PayU and the second two at Ola Monetary Providers. Nitin believes that present bank card merchandise are too related — counting on present vanilla merchandise. By way of his previous experiences launching bank card merchandise, he realized it’s doable to efficiently construct totally different credit-led funds merchandise focusing on totally different buyer segments and totally different use circumstances. The primary product to be launched at Uni is named Pay 1/third. The product splits transaction funds into 3 components to be paid over 3 months at no added price. If clients pay early, they get a 1% reward. Shortly after this episode was recorded, Uni raised a $70M Collection A spherical led by Basic Catalyst. Different buyers embody Lightspeed, Accel, Eight Highway Ventures, Elevation Capital, and Arbor Ventures.


Nitin Gupta:

Uni’s Founder and CEO, Nitin Gupta is an alumni of IIT Delhi and IIM Ahmedabad. He began his profession as a Founder and CEO of Khojguru after which led the PayU India staff as Co-Founder and CEO. He constructed PayU into one of many largest cost gateways in India beneath his in a position management. At Ola, throughout his stint of two.5 years, he headed the Ola Monetary Providers as CEO and launched Ola Cash Postpaid which was valued at $250 million final yr. It’s now one of many largest monetary companies companies within the nation. Presently, at Uni, he has raised $18.5M, whereas in stealth mode and launched the BNPL product Pay 1/third card. Other than constructing cutting-edge monetary merchandise he additionally invests in new and upcoming firms within the capability of an Angel investor.


Concerning the Creator:

Anirudh Singh is a second-year MBA Candidate at The Wharton Faculty, the place he’s a part of the Wharton FinTech Podcast staff. He has a ardour for financial growth, enterprise capital, monetary companies, and all issues FinTech. Don’t hesitate to succeed in out with questions, feedback, suggestions, and alternatives at

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