Zinc money. Started by ex PayU / Paysense folks has raised some $23m and has no product since over a year. How does this even work?

You guys are slightly mistaken. I started Zinc. I started Paysense too. When I left PayU credit we were profitable. I have that on good record. As for Zinc, look licenses take time we have three licenses out of IFSCA, we have a product (remittance, counselling, soon we will also have wealth and banking services out of GIFT) and yeah our GTM has taken sometime, its taken a bit to get right, but thats what it means to do a startup, wish it was a straightline, slam dunk on first attempt.

Zero to One's are super hard. People leave, yes we squabble, this is par for the course. The absence of any of this would indeed be "sus"

Look its hard to build for a year without any gratification of a successful launch; we're at it. Wish us luck perhaps :). - Prashanth R

The founder open a company, get funding makes it look sexy and leaves. Also, the company is never profit making

Same thing done with paysense, lazypay and other his work

You guys were right. Company now just bare bones, like 20 people or something.

Every 2 weeks product vision changing. First it was remittance, then suddenly AI counselling with office in Coimbatore (??), then edu-wealth, then investment diversification, then edu loans—they even hired 20 people for that one and boom, dead in a week. Nobody really knowing what they building now.

They kept bringing some big shot leaders from top companies also. Fired them in like a month. Lot of shouting, people raising voices like some daily soap. Whole culture just toxic.

can’t even blame the founders fully now. It’s the investors who should be answering. Been 2 years, and Quona, Nexus, EDBI, Saison, no accountability? $25 million gone and no one checking where the money went? So many startups out there who actually doing good work, and these guys got the bag.

But ya whatever, just another Tuesday in this ecosystem. Founders still making easy money, and everyone else just ruining their resumes for free.

Damn, that surely is sus But website seems to be live and there seems to be a 1:1 expert call?

Fruad

Fraud