![]() ![]() “The beauty of the model is that when you focus on empowering folks, upskilling them and making sure they have the right expertise, that ends up benefitting the firms as well,” says Nmachi Jidenma, who joined Sequoia as senior director of scouts and partnerships earlier this year after leading channel strategy at WhatsApp, and who is representing Sequoia in the new program alongside partner Mike Vernal. Sequoia, meanwhile, helped popularize the scout role more than a decade ago, launching its program in 2009, and has invested in more than 1,100 startups through its scouts, including Stripe, Faire and Uber. Past graduates of its program include Sykes and BLCK VC co-founder Frederik Groce’s fellow Forbes Under 30 alumni Ivan Alo and LaDante McMillon of New Age Capital and Cake Ventures founding partner Monique Woodard. Bent and firm co-sponsor Barry Eggers, a founding partner at Lightspeed, brought on 42 such scouts, most of them outside the Bay Area. ![]() Following conversations between Lightspeed partner Mercedes Bent and the group, Lightspeed announced it was shifting the focus of its program to prioritize working with scouts of under-represented backgrounds last year. Scalability is yet to be seen," said Kanwaljit Singh, senior managing director at Helion Venture Alert!Livemint tops charts as the fastest growing news website in the world □ Click here to know more.Both firms had proactively reached out to Sykes and BLCK VC following the death of George Floyd, Sykes says. However, there are lots of people who travel, carry plastic, there is certain audience who will love it. First, the fee model needs to be tested as customers may end up thinking why do I need it. Lack of infrastructure is one issue," said Mohit Bhatnagar, managing director with Sequoia Capital India.Įxperts say it remains to be seen whether people would pay for such services. “Unlike other nations, people are unwilling to do things themselves here. That Indians are not typically “do it yourself" kind of people could further lead to the adoption of such services. He added that for OneAssist to become a $60-70 million business in five to seven years, it needs approximately two million customers. Ltd, who compared this service to the state of health insurance 10 years ago. “We had been exploring and evaluating value-added services around cards (just like mobiles) for a long time," said Bejul Somaia, managing director, Lightspeed Advisory Services India Pvt. It only takes 16 digits of credit and debit card numbers and no other details like the card verification code (CVC) numbers or passwords. Anyone who carries a smart phone and plastic is a potential client," said Pani.Īs the company deals with sensitive data including debit and credit cards, it has put stringent rules in place. “There are 20 million credit cards and 250 million debit cards being used in the country. There will be an automated back-up of contacts, SMS, photos and videos as well as remote phone lock and wiping out of sensitive data. ![]() ![]() The company has another service called MobileAssist which blocks the customer’s phone and SIM card from anywhere in the world in case of loss or theft. We found that as time is at premium, losing a phone or a wallet or a passport puts life out of gear for people," said Maini. “We did anxiety mapping, including qualitative and quantitative research to understand people’s day-to-day worries. The company will block all the bank cards of the customer within 15 minutes, get lost card fraud cover seven days prior to the reporting of loss, free replacement of permanent account number (PAN) card and driving licence, and related services. ![]()
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