Anil Singh

Here we propose building AgNet: Network of Agents in India at billion unit scale. The key components can be borrowed from Open Network For Digital Commerce (ONDC) architecture to build on the learnings of already scaled network in India. > Agent Registry: This registry holds name, description, tags, id, endpoint, public key and organization name of participating agent > The api format between agents we propose a generic conversational format to take advantage of LLM. Hence agents talk to each other using human language format. This format we are internally calling at Plotch.ai as opengroc format. This avoids headache of poiint-to-point integration amongst agents. > All agents will need to be rated to build trust in the network > Rating, discovery, register and de-register apis can be opengroc format too (or can be structured format given they can be easily defined) Eric Broda, Pramod Varma and sujith nair are key inspiration behind this and most of the thoughts are borrowed (other than opengroc format). We at Plotch.ai are just trying to stitch this as a possibility. We can all build this network together.

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Regulatory clarity is paramount for the successful integration of tokenisation into India's financial landscape. Transparent guidelines governing token issuance and trading, aligned with existing financial regulations, are necessary to ensure market integrity and investor confidence. Read more at YourStory Media

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🚨Swiggy IPO gets oversubscribed led by QIB bids Swiggy’s IPO was oversubscribed 1.07 times by the third day, driven largely by QIBs, who oversubscribed their portion 1.52 times. Retail investors subscribed to 97% of their portion, while Non-Institutional Investors (NIIs) made bids for 22% of their allocation. Swiggy's employee quota also saw strong demand, with a subscription rate of 1.38 times. Swiggy raised around Rs 5,085 crore (approx. $605 million) from anchor investors like HDFC, ICICI, SBI, and global players including Fidelity and BlackRock. by Akshita Toshniwal | #SwiggyIPO #IPO #QIB #RetailInvestors #Foodtech Read more 👇 https://lnkd.in/ggm_piMt

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📊 Is pricing the answer to fragmenting the UPI App market? 📊 📈💡NPCI has extended the 30% market cap deadline because the top 3 UPI apps have ~92% market share. Phonepe, Paytm & Gpay capitalized on the early mover advantage. New apps don’t have incentives to compete for UPI volumes because it is a “free product.” And while this was why it grew, it has now also hindered entry of new players ✅ Global real time payment (RTP) equivalents are usually free for the customer while merchants are charged. Ex: 🇧🇷 Pix: Merchant: 0.22 - 0.3% / txn, free for user 🇨🇭 Twint: Merchant:1.3% / txn, free for user 🇵🇱 Blik: Merchant: $0.1 - $0.75 / txn, free for user 🇸🇪 Swish: Merchant: $0.09 / txn, free for user 🇸🇬 PayNow: Merchant: 1.3% / txn, free for user 📈💡 If we want to keep RTP free for the end user, the constraint is free P2P payments. Only P2M can be charged. Is that feasible? Let’s look at the data: 📌 UPI Value (in Cr): From April ‘23 to ‘24, grew by 39.6%. P2P grew from 10L Cr to 14L Cr, at ~32% growth YoY. And P2M grew from 3.2 L Cr to 5.3 L Cr, at~65% YoY. 📌 UPI Volume (in B txn): From April ‘23 to April ‘24 UPI volume grew by 62%. P2P grew from 3.8B to 4.9B, at YoY 29%. P2M grew from 5B to 8.3B at YoY 65%. And proportionally: 📌 April ‘24 Value: Total: INR 19L Cr, P2P: 72.97%, P2M: 27.03% 📌 April ‘24 Volume: Total: 13.3B, P2P: 37.5%, P2M: 62.5% ✅ The constraint of only being able to price P2M transactions is not a blocker, P2M seems to have significant volumes. But that’s the overall P2M market: There is a big segment that falls within P2PM (unorganized merchants), that NPCI will not charge 📈💡Let’s assume that P2PM majorly consists of low value transactions of AoV less than Rs 2000. If we look at AoV > 2000 bucket of P2M transactions, this constitutes for 4.50% of txn numbers, and 68.36% of P2M txn value. ✅ So even excluding P2PM this still leaves a significant~68% of P2M monthly value or 4.5% of P2M txns that can be monetized So what’s the ideal pricing model? ❗Well, the cost of a UPI transaction is ~Rs 0.4. At 13.3B UPI txns that is a monthly cost of Rs 532 Cr. Which is Rs 6384 Cr per annum to maintain the UPI ecosystem! The pricing needs to generate atleast this much❗ 1️⃣ Option 1: Fixed fee / txn: If only AoV > Rs 2000 txns are charged, then to break-even, the fee per txn needs to be Rs 15, which is high. If ALL the P2M txns are charged, then a per txn cost of Rs 0.67 would be enough to break-even. But the P2PM merchant would be impacted 2️⃣ Option 2: % of txn value: If only AoV > Rs 2000 txns are charged, then the break-even fee is 0.15%. If the total P2M value is charged, the fee needs to be 0.10%. Seems to make more sense But even if pricing comes, while it incentivizes new apps it also incentivizes incumbents to keep their market share. Enter: the 30% UPI market share cap To read the full article and other pieces like this, click here: https://lnkd.in/gSPm49aq #fintech #UPI #NPCI

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Super fun catching up with one-time arch-rival, co-conspirator, and now good friend Sanjay Swamy. Thanks for having me on the show Prime Venture Partners. It was fun looking back on how our journeys in fintech began before the term was even coined. Life is tough as an entrepreneur, sometimes it's good to look back and see how far we've come. #startups #entrepreneurship #entrepreneurs #nostalgia #earlydays #OGs #fintech #mcommerce #payments

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Indian Fintech Startup Multipl Secures $1.5M Funding Multipl, an Indian fintech startup, has raised $1.5M in a funding round led by Blume Ventures and MIXI Global Investments. Founded in 2020, Multipl incentivizes users to invest in mutual funds for future expenses through partnerships with brands like Flipkart, Myntra, and Yatra Online Ltd.. The funds will be used to enhance the platform and introduce new features. With over 500,000 downloads, Multipl aims to double this figure in the next year. This follows a $3M round in May 2022. #Multipl #Fintech #Funding #Investment #StartupNews #EmergingTiger

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#fintech | #payments | #foodtech : Paytm's Revival Strategy Zomato has confirmed discussions with Paytm regarding the acquisition of its movie and events ticketing business, but no final decision has been made yet. Paytm is revamping its operations to counter declining sales and refocus on its core #financialservices. EmpowerEdge Ventures

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All roads to monetization in fintech lead to lending, that's where the profit pools lie. "Fintech is not dead," Akshay Sarma who's spent the last 9 years building axio (formerly Capital Float (now axio)), one of India's most valuable fintech companies. Watch here: https://lnkd.in/gvHqB4zM We've talked about all things Fintech: > The Landscape of the Fintech Ecosystem, opportunities, and different business models > How Axio evolved from MSME lending to consumer lending post the pandemic > Are the regulators (RBI & SEBI) unsupportive of Indian fintech companies? > How should fintech founders navigate the tough fundraising environment? > Public markets, investing in equity vs debt + Akshay's personal investing strategy > The High-Risk, High-Reward Nature of Angel Investing > Do you need a NBFC license to succeed as a fintech company? > The Frenzy Around SME IPOs and Risk Appetite > The Importance of Profitability and Cost of Funds in Determining Margins Must watch for all fintech founders and investors in the country!

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India's Budget 2024: Microservices for Macroeconomics 🇮🇳 Will this new architecture reduce the load on the middle class? Are we going to pivot to an economy of services? Only time will tell. On that note - check out this lecture on Microservices here: https://bit.ly/3WmrZwf #budget2024 #systemdesign #India

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Bengaluru-based ecommerce startup POP has raised $2.4 million in seed funding led by IndiaQuotient, with participation from angel investors. This funding will accelerate POP's rollout of Unified Payments Interface (UPI) services via the POPclub app, which has received approval from the National Payments Corporation of India (NPCI) as a Third-Party Application Provider (TPAP). Developed with YES BANK and JUSPAY, the POPclub app allows users to earn POPcoins, a unique shopping currency, with 2% value back on every transaction. Founder Bhargav Errangi aims to make POP the primary platform for payments and shopping among Gen Z and millennials. Since its launch in May 2023, POP has partnered with over 200 brands, including mCaffeine, Simple Skin Care, Adil Qadri, Anveshan, Two Brothers Organic Farms® and epigamia, and engaged over four million customers. Madhukar Sinha from India Quotient highlighted POP's potential to improve customer acquisition and retention for consumer brands. #POPStartup #Ecommerce #UPI #SeedFunding #IndiaQuotient #Fintech #POPclub #DigitalPayments #CustomerEngagement #StartupGrowth #startup77

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Differentiators of Map Apps: MapMyIndia: More & better static data e.g. speed breaker, pothole, radar, above / below flyover. Google Maps: More & better dynamic data e.g. traffic conditions, re-routing. Ola Maps: ? https://lnkd.in/dAirxUyp

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Here's one more theme that has played out over the past decade in India SaaS: SaaS companies that sell into India/Asia (non-China/Japan). There's been a reasonably large set of investors in India who have been default no in this category, based on perception of limited TAM and GTM challenges. However, there is reason to be optimistic for this theme (we are!). A reasonable set of companies in the ecosystem have scaled, such as MoEngage, Darwinbox, Capillary Technologies, Yellow.ai, Unicommerce , Gupshup, CRMNEXT, LeadSquared. Companies like Salesforce, SAP etc have reached multi-hundred million ARR in India. As a result, the potential scale from sales in India has grown from the $15-20mm that people used to talk about 5 years back to perhaps $50mm in India, overall $100mm-150mm in Asia. I think we'll see more companies continue to get funded here as IT demand in India/SEA deepens and local requirements (mobile, India Stack, regulations, languages) get addressed. Founders and investors will need to tune into this being a solid path to go but will take longer to get to impact than US/EU-focused companies. Some characteristics we see at India/SEA-facing software companies: * Many start out in SMB but then find scale & success selling into enterprises. India market has a ton of SMBs (10mm+), a relatively light mid-market and a significant set of large enterprises. * Products tend to have feature sprawl and design-deficit but this can be fixed. * Some large sectors that are pulling at enterprise level e.g. BFSI, multi-sector conglomerates. Early traction from digital native companies (but naturally capped market). * Natural to go to SEA & Gulf countries. Product could remain fairly similar but sales & marketing motion can be quite different. To get really large, feels like will have to end up going to US/EU markets eventually. * ~10 years to $100mm ARR, with market leadership in Asia * Gross margins start out perhaps 10-15 points lower than corresponding companies in the US/EU but trend up over time. * Most India-facing SaaS companies are starting as India Pvt. Ltd. today, compared to 5 years ago (versus US C-corp), with a view to going public in India at $50-100mm revenue level.

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CLSA published a detailed research report on India quick commerce. Recommended reading. Who will be the first to create a $50-100Bn company in India internet? #Zepto #Zomato #IndiaInternet

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