Building Indian Mobile Banking: mChek CEO Sanjay Swamy (Part 4)

SM: When you joined, was it a commercially viable solution? SS: There was a big gap between the concept and a commercially ready solution. We had investments and a team and had to take the idea and build it into a large-scale enterprise system. That took 18 months.

Building Indian Mobile Banking: mChek CEO Sanjay Swamy (Part 3)

SM: When did you finally move back to India, and when did you decide to do mChek full time? SS: We moved back in 2003. Initially, I came to the conclusion that the business was not viable at that point, largely due to Indian regulatory issues. I ended up starting up the Indian operations for Ketera

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Building Indian Mobile Banking: mChek CEO Sanjay Swamy (Part 2)

SM: What types of positions did you hold at Integrated Systems? SS: I was with them for seven years and worked in a variety of roles. I started off in customer support, then moved on to training, international sales, domestic sales, product development, and marketing.

Building Indian Mobile Banking: mChek CEO Sanjay Swamy (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.  Sanjay Swamy is the CEO of mChek, a mobile payment platform developed in collaboration with VISA. The company has enabled users to access their Indian bank-issued credit or debit card via their cell phones. It has quickly become India’s largest mobile payments platform. SM: Tell me

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British Brothers: Scansafe Founders Roy and Eldar Tuvey (Part 7)

SM: Europe is a big marketplace at this point as well, right? RT: If you look at our historical customer base we are almost catching up, but we probably have a 50/50 split. We also have some Asian customers as well. In terms of an ongoing basis, we are selling more in the US than

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British Brothers: Scansafe Founders Roy and Eldar Tuvey (Part 6)

SM: Talk about the dynamics of managing the company with your brother. RT: From day one it has been clear to us about our responsibilities. I am based here in the US so I run North American operations. We are both members of a broad management team for the organization.

British Brothers: Scansafe Founders Roy and Eldar Tuvey (Part 5)

SM: What does your competitive landscape look like? RT: The web security market is now established. It is about a $2 billion market that is growing 20-30% year on year. SaaS is a low single-digit category in that market which is basically just us.

British Brothers: Scansafe Founders Roy and Eldar Tuvey (Part 4)

SM: Let’s discuss your strategy for growing beyond the UK. RT: We went out to raise financing, targeted US venture capitalists, and made a deal with Benchmark. We raised $10 million. I used that to relocate to the US to start operations here. The focus was to pinpoint specific targets such as telecoms and email

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