Pravin Jadhav, the CEO of Raise Financial Services and founder of Paytm Money, took to Twitter to express his belief that startups should focus on building a product that they can charge customers for, rather than offering products for free.
What Happened? Jadhav stated that while giving products for free may be a “growth hack,” it is not a sustainable long-term model that will help businesses build and sustain themselves.
Jadhav’s advice to startups is to charge their customers for their products and services and to let the value of their product be demonstrated in the amount of money customers are willing to pay for it. His emphasis on charging customers for products and services is to help startups realize the importance of building a sustainable business model that can thrive in the long run.
Jadhav left Paytm Money in 2020 after building it from scratch and launched Raise Financial Services in 2021, a technology-focused platform for long-term investors and traders.
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According to an Economic Times report, in February 2022, Raise Financial Services announced the launch of its investing and trading API platform, ‘DhanHQ,’ aimed at helping fintech companies and banks offer plug-and-play investing and trading solutions for their users. The company also plans to introduce new fintech offerings in financing, insurance, and wealth management segments.
The company is backed by several prominent angel investors, including Dream11’s Harsh Jain, Zomato’s Deepinder Goyal, Unacademy’s Gaurav Munjal, Razorpay’s Harshil Mathur, and others.
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