7 hours ago
When Gaurav Hinduja and Sashank Rishyasringa, co-founders and managing directors at Capital Float, approached a few venture capitalists in 2013 for funding to start their digital lending startup,their response was a curt “no”. The reason: The market was not ready for a business such as theirs and they lacked experience in the cut-throat business of loan collection. One of the venture capitalists went so far as to hint in jest that they were overqualified for the job: “Stanford business school alumni aside, you will never be able to do money collection from borrowers on ground.” Rishyasringa, 36, graduated magna cum laude from Princeton University with a specialisation in economics and finance before doing an MBA from Stanford Graduate School of Business. Hinduja, 37, a commerce graduate from Christ University, Bengaluru, was his batchmate at business school.
The naysayers could not have been more wrong.
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