I have been a computer geek since my school days. Being an engineer, I ventured into technology entrepreneurship during my undergrad as it seemed like a cool thing to do. Since then, I have worked on a variety of problems, in each case helping take a step towards the desired solution. Currently, I’m building a solution aimed at international students to ease their financial needs.
Our startup is called Pax Credit. Pax Credit provides cross-border financial services for international students. Currently, we help international students pay university tuition fees in local currencies and save them about $1000 when compared to local banks.
Back in 2015, when I was moving from India to Singapore for my education, for the first time, I had to transfer money out of the country to pay tuition fees. During this process, I discovered that by opting for a service from a different bank, I could save as much as $800. This experience helped me realize that financial services aimed at international students are not optimal in process, pricing and access. That is how Pax Credit got started.
Our founding team has known each other for years, and it is fun to work with people who have shared interests in a trusted environment. Our founding team has a complementary skill set of full-stack engineering and business development, both of which are required at an early stage. We built a deep understanding of the problem by interacting with thousands of international students ourselves.
I find the crypto/blockchain space to be fascinating, and I would have been working in this space if not for Pax Credit.
For us, transaction volume and average revenue per user are the core metrics. We currently measure success through monetary and time savings for our users when compared to local banks for a given transaction.
Our traction is completely organic without having to spend even a $1 on customer acquisition and, despite our current product experience having much room for improvement.
Cryptocurrency and blockchain are the technologies I'm most excited about. Incorporating them into traditional financial services will change the business models.
I'm worried about the widening digital literacy gap in the workforce. This could limit their economic opportunities as we are moving towards a full-fledged technology-integrated world.
Hacker Noon is one of the few publications that help you discover and learn new technology trends at length. Glad to see our work published on Hacker Noon.
Being naive is a feature and not a bug. Focus and level up your strengths but be aware of your limitations and get help.
There are no rules of thumb for building a successful business. It is better to make an informed and independent decision with the available information in a given context.
Vote for Pax Credit on the Startup of the Year City Award page to extend your support.