Hey Everyone! ✨

A new financial year brings fresh energy, bigger bets, and ambitious plans for the months ahead. And across the Rize ecosystem, founders kicked things off with launches, experiments, collaborations, and milestones worth celebrating.

Here’s a quick recap of everything that happened across the community this April.

MILESTONE MOMENTS 👑

First things first, let’s celebrate some victories! We've witnessed some jaw-dropping milestones within our community, and we can’t wait to share them with you.

Celebrating…

A big congratulations to these founders! Each step forward is a victory on the path to success. So, keep pushing and growing!

ARTICLES OF THE MONTH 📜

Missed our articles last month? Check the top ones that fuelled our Founders!

✍️ User Research vs Discovery vs Validation: Templates & Tools (2026 Guide)

✍️ Pricing in Canada: Landscape, Challenges & Key Considerations

✍️ Y Combinator 2026: Founder Insights, Tips & Learnings

Discover more such insightful reads in the Vault! The collection is growing every day.

Vault by Razorpay Rize

Thoughts from a thriving community of founders and entrepreneurs to fuel innovation, learn from each other's journeys, and Rize together.

STORIES FROM RIZE-PRENEURS 📎

This month, we spotlighted Ishan Jindal, a founder building across two very different worlds.

Building Wobb, trusted by 800+ brands, and now creating Lickcious, a modern intimacy wellness brand challenging conversations people still shy away from, Ishan’s journey is rooted in one thing: building boldly where others hesitate.

KEY HIGHLIGHTS THIS MONTH💡

New initiatives, exciting launches, and everything you need to stay ahead.

✨Rize D2C+ Offline Meetup with Arjun Vaidya✨

This month, we hosted the Rize D2C+ Offline Meetup at the Razorpay office with Arjun Vaidya, founder, operator, and one of the most respected voices in the D2C ecosystem.

The biggest highlight of the evening?
6 founders pitched their brands live to Arjun and received direct, real-time feedback on everything from positioning and growth to product, distribution, and storytelling.

✨ Buyer Access Program- Launch✨

Over the last few months, we kept hearing the same question from founders: “How do we actually enter international markets?”

To help solve this, we launched the Xport+ Buyer Access Program- an initiative designed to connect export-focused founders directly with vetted international buyers across key global markets.

The Buyer Access Program is exclusively available for founders inside the Rize Xport+ community- Join the community to access vetted international buyers, global market insights, and export-focused support.

Join Now

✨ Operators Circle with Spur, Meta & Shopify✨

We wrapped up the month by partnering with Meta and Shopify for the Operators Circle hosted by Spur- bringing together 100+ D2C founders, operators, and brand builders under one roof.

From growth and retention to performance marketing, brand building, and scaling challenges, the event was packed with honest conversations around what’s actually working in consumer brands today.

MEET OUR NEWEST FOUNDERS: ONBOARDING EDITION 👥

Say hello to the latest group of founders joining the Rize Communities! They're full of bold ideas and big dreams, ready to take the startup world by storm.

Dive into Vault today & unlock a world of possibilities. 

Subscribe now

The US has a far more structured and demanding regulatory environment for imported goods. Compliance is taken seriously, and the expectations are higher than what most Indian exporters are used to.

If you’re not prepared, you could face delays at customs, product delistings, or even recalls. In this article, we’ll walk through what US product readiness actually involves, from certifications and standards to labelling and consumer expectations.

Compliance Standards in the US Market

In India, compliance is often treated as a documentation exercise. In the US, it’s tied directly to liability.

Consumers can take legal action, and class action lawsuits are common. Regulatory bodies actively enforce standards—the Consumer Product Safety Commission can issue recalls and fines, the FDA can block shipments, and marketplaces like Amazon can suspend listings based on customer complaints. At the border, Customs authorities can hold or even destroy non-compliant goods, with the cost borne entirely by the exporter.

So how do you approach this the right way?

Step 1: Know Which Agency Governs Your Product

The first thing to figure out is who regulates what you’re selling. In the US, multiple federal agencies have jurisdiction over consumer goods.

• Consumer Product Safety Commission (CPSC) covers most general consumer products: toys, furniture, home goods, apparel, electronics, accessories, sporting goods, and more.

• The Food and Drug Administration (FDA) covers food, beverages, dietary supplements, cosmetics, skincare, medical devices, and some packaging materials.

• The Federal Communications Commission (FCC) covers anything that emits radio frequency energy: electronics, wireless devices, chargers, and Bluetooth accessories. FCC certification (usually FCC ID) is mandatory.

• The Federal Trade Commission (FTC) governs labelling claims, advertising, and marketing.

• The Environmental Protection Agency (EPA) covers pesticides, certain cleaning products, and goods that make environmental claims.

• The Department of Agriculture (USDA) covers organic certification for food and agricultural products.

Important Note: Identify your product’s HS code (Harmonised System code) and look it up on the CBP website. This will tell you which agencies have jurisdiction and what documentation you need at the border.

Step 2: Understand the Core Certifications

Certifications vary by product category, but here are the most common ones Indian exporters need to know.

1. CPSC: Children’s Products and General Use

• Children’s Product Certificate (CPC) Mandatory for any product designed or intended for children under 12. This includes toys, clothing, accessories, and furniture. Requires third-party testing by a CPSC-approved laboratory.

Key standards to know:

1. ASTM F963: Toy safety standard

2. Lead content limits: 100 ppm in surface coatings, 300 ppm in substrate

3. Phthalate limits for toys and childcare articles

4. Flammability standards for children’s sleepwear

• A General Conformity Certificate (GCC) is required for non-child consumer products. Can be self-certified (no third-party lab required), but you must have a reasonable basis for the claims.

• Flammability Standards apply to textiles, upholstered furniture, mattresses, and carpets. The standard varies by product type (16 CFR Part 1610 for textiles, 16 CFR Part 1633 for mattresses, etc.).

2. FDA: Food, Supplements, Cosmetics & Skincare

• Food Facility Registration: If you’re exporting food or beverages, your manufacturing facility must be registered with the FDA. Registration is free and done online, but it’s mandatory.

• FSMA Compliance (Food Safety Modernisation Act): The FDA’s food safety framework. Requires documented food safety plans, hazard analysis, and preventive controls.

• Dietary Supplements: Structure/Function Claims: If you’re selling Ayurvedic or herbal supplements, you cannot make disease claims (”cures diabetes,” “treats arthritis”). You can make structure/function claims (”supports joint health,” “promotes digestion”), but these must be truthful, substantiated, and accompanied by a specific FDA disclaimer on the label.

• Cosmetics & Skincare The Modernisation of Cosmetics Regulation Act (MoCRA), passed in 2022, significantly tightened FDA oversight of cosmetics.

Key requirements:

1. Facility registration with the FDA

2. Product listing for each SKU

3. Serious adverse event reporting

4. Labelling in English with full ingredient list (INCI names)

5. No prohibited ingredients (full list on FDA website)

3. FCC: Electronics and Wireless Devices

Any product that emits radio frequency (RF) energy needs FCC authorisation before it can be sold in the US. This includes:

• Bluetooth speakers, headphones, earbuds

• Wi-Fi-enabled devices

• Wireless chargers

• Smart home devices

FCC authorisation requires testing by an accredited laboratory and, for most devices, a formal grant of authorisation with an FCC ID. This ID must appear on the product and its packaging.

Budget: $1,500-5,000 for testing and certification per product, depending on complexity.

Timeline: 6-12 weeks

4. UL Certification

UL (Underwriters Laboratories) certification is widely required by US retailers and is effectively mandatory for electrical products sold on Amazon and in physical retail. If your product plugs into a wall, expect retailers and platforms to ask for UL certification.

Budget: $3,000-10,000+, depending on product complexity.

Timeline: 8-16 weeks

Step 3: Get Your Labelling Right

US labelling requirements are specific, and non-compliance at the port of entry can mean your entire shipment is held or returned.

General Labelling Requirements (All Products)

• Country of origin: “Made in India” must appear on the product itself (not just the packaging). This is a CBP requirement.

• English language: All required label information must be in English. Additional languages are fine, but English is mandatory.

• Importer information: Name and address of the US importer of record must appear on the label or packaging.

• Net quantity: Must be stated in both metric and US customary units (e.g., “250g / 8.8 oz”).

Textile and Apparel Labelling (16 CFR Part 303)

• Fibre content by percentage (e.g., “100% Cotton” or “60% Cotton, 40% Polyester”)

• Country of origin

• Care instructions (using standardised ASTM care symbols or written instructions)

• RN number or company name (RN = Registered Number, issued by FTC, free to obtain)

Food Labelling (FDA 21 CFR)

• Nutrition Facts panel (specific format required)

• Ingredient list in descending order by weight

• Allergen declarations (the “Big 9”: milk, eggs, fish, shellfish, tree nuts, peanuts, wheat, soybeans, sesame)

• Net weight

• Name and address of US distributor or importer

Supplement Labelling

• “Supplement Facts” panel (different format from Nutrition Facts)

• Structure/function claims with FDA disclaimer: “This statement has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.”

• Full ingredient list, including other ingredients (fillers, capsule material, etc.)

Cosmetics Labelling (MoCRA + FD&C Act)

• INCI ingredient names in descending order

• Warning statements, wherever required

• Net weight or volume

• Name and address of the responsible person (US-based)

• No drug claims

Step 4: Meet Consumer Expectations in the US Market

Compliance helps you enter the market. Meeting consumer expectations is what keeps you there. US consumers are informed, discerning, and have access to a wide range of options. Here’s what builds trust and drives repeat demand:

1. Credible Certifications (Good-to-have)

Beyond mandatory certifications, certain voluntary certifications dramatically increase consumer confidence and conversion rates on platforms like Amazon:

• USDA Organic: For food, supplements, and some personal care products. Highly valued, commands a 20-40% price premium.

• Fair Trade Certified: Resonates strongly with American values around ethical sourcing. Particularly effective for textiles, coffee, and food.

• B Corp Certification: For brands with a strong sustainability story. Increasingly important for younger consumer segments.

• NSF International: For dietary supplements. The gold standard for quality assurance in the US supplement market.

• OEKO-TEX Standard 100: For textiles. Signals that fabrics are free from harmful substances. Highly valued in baby products and sustainable fashion.

2. US-approved Packaging

Invest in packaging design that’s built for the US market. On Amazon, especially, your main image and packaging design determine whether someone clicks through or scrolls past.

3. Consistent Quality

Build quality control checkpoints into your production process before you export, not after complaints arrive.

A pre-shipment inspection (PSI) by a third-party inspection company like SGS, Bureau Veritas, or Intertek costs $200-400 per inspection and is one of the best investments you can make early in your US export journey.

Step 5: Plan Your Testing and Certification Timeline

Testing and certification are not last-minute tasks—they need to be planned early. In the US, timelines for lab testing, approvals, and documentation can vary significantly depending on your product category.

Typical timelines:

Start your certification process before you finalise your production run. Build at least 3 months of buffer between your certification start date and your intended launch date.

Important Note: Engage a customs broker before your first shipment, not during. Brief them on your product category and ask them to do a compliance review. A licensed US Customs Broker can:

• Classify your product with the correct HTS (Harmonised Tariff Schedule) code

• Advise on applicable duties and compliance requirements

• Handle import documentation on your behalf

• Flag potential issues before your shipment arrives at the port

Cost: $150-300 per shipment for standard brokerage.

Final Thoughts

Product readiness is the foundation of success in the US market. It may not get as much attention as marketing or pricing, but it plays a critical role in whether your business sustains beyond the first year.

The Indian exporters who struggle in the US often have genuinely good products. They stumble because they underestimated what “ready” actually means in this market. So, do the work upfront. It’s the only way to build something in the US that lasts.

Related Articles

Meta Ads remain one of the most important growth channels for D2C brands. From fashion and beauty to wellness and consumer tech, thousands of brands rely on Meta’s advertising ecosystem to acquire customers, build awareness, and scale revenue.

This article explores how D2C brands are using AI to improve Meta Ads performance in 2026, the key areas where AI is creating impact, and the best practices brands can follow to build more efficient and scalable advertising systems.

Meta Ads in 2026: What Actually Changed

For years, D2C brands approached Meta Ads with a relatively straightforward formula: build detailed audience segments, stack interests, test multiple lookalike audiences, and manually optimise campaigns based on performance.

But the Meta advertising ecosystem has changed significantly.

Privacy updates, evolving user behaviour, and increasing competition have reduced the effectiveness of traditional targeting methods. At the same time, Meta’s own platform has become far more dependent on machine learning and automation.

The platform is now designed to reward advertisers who can provide strong creative inputs, clear conversion signals, and sufficient data for the algorithm to learn effectively. In other words, Meta has become algorithm-first. And increasingly, AI is the language through which brands can work with that system more effectively.

The Three Layers of AI in Meta Ads

Broadly, AI impacts Meta Ads across three key layers: creative intelligence, audience targeting, and campaign optimisation.

1. Creative Intelligence

Creative has become the most important performance driver in Meta advertising. As targeting becomes broader and more automated, the algorithm increasingly depends on user engagement with the ad itself.

AI helps brands improve creative workflows by:

• Generating ad copy and hooks

• Creating multiple messaging variations

• Suggesting formats and creative angles

• Analysing patterns in high-performing ads

For example, instead of building one or two ads around a product, brands can now expand a single product into multiple creative directions:

1 product → 20 messaging angles → 100 creative variations

This allows advertisers to continuously feed Meta’s algorithm fresh content while identifying which themes resonate most with audiences. The ability to generate and test creative variations quickly has become one of the biggest advantages AI offers advertisers.

2. Audience Targeting and Algorithm Learning

Meta’s advertising platform has evolved significantly from the days of highly detailed interest targeting and excessive audience segmentation. Today, AI systems analyse behavioural signals in real time to identify users most likely to engage or convert.

Rather than manually trying to define every customer attribute, brands now allow the algorithm to learn from:

• Engagement data

• Conversion events

• Purchase behavior

• User interactions across the platform

3. Optimisation and Scaling

The third layer of AI in Meta Ads involves campaign optimisation and scaling. Meta’s machine learning systems continuously evaluate campaign performance and automatically adjust:

• Budget allocation

• Bid strategies

• Ad delivery

• Placement distribution

One of the most widely used AI-powered budgeting features is Campaign Budget Optimisation (CBO). Instead of assigning fixed budgets manually to individual ad sets, advertisers set a single campaign-level budget, and Meta’s algorithm distributes spend dynamically based on performance. This enables campaigns to optimise dynamically based on real-time performance data.

For example, the algorithm may automatically prioritise:

• A high-performing creative variation

• A specific audience segment

• Placements generating lower acquisition costs

The Creative-AI Feedback Loop

One of the biggest shifts in Meta advertising is that successful campaigns are no longer built around isolated “winning ads.” Instead, high-performing D2C brands are building continuous feedback systems where AI, creative testing, and Meta’s algorithm work together in a loop.

This is what turns advertising from a series of one-time experiments into a scalable growth engine. The process typically works like this:

1. AI Generates Creative Ideas

Instead of spending days brainstorming a few campaign ideas, brands can now create dozens of variations around a single product within hours.

2. Brands Test Creatives at Scale

Once creatives are generated, they are launched into structured testing systems. Rather than searching for a perfect ad immediately, brands focus on:

• Testing multiple concepts simultaneously

• Gathering engagement and conversion signals

• Understanding what messaging patterns resonate most with audiences

3. Meta’s Algorithm Identifies Winners

As campaigns run, Meta’s AI systems analyse:

• Click-through rates

• Watch time

• Engagement behavior

• Conversion patterns

• Purchase signals

The algorithm begins identifying which creatives attract attention, which audiences respond best to, and which ads generate profitable conversions.

4. Brands Double Down on High Performers

Once winning patterns emerge, brands scale the best-performing creatives by:

• Increasing budgets

• Expanding delivery

• Creating more variations around successful angles

• Reusing winning hooks across formats

Instead of starting from scratch repeatedly, brands build on proven performance signals.

5. AI Generates Iterations of Winning Patterns

The process then repeats. AI tools are used not just to generate random ideas, but to create refined iterations based on what is already working.

This creates a continuous learning cycle.

Popular AI Tools Used for Meta Ads

Most D2C brands today use a combination of tools across three key workflows: creative generation, video production, and performance analysis. The goal is usually not to build a complex stack, but to improve testing speed and creative iteration.

Meta itself now includes several AI-powered capabilities inside Ads Manager, such as:

• Advantage+ Shopping Campaigns

• AI-generated text variations

• Automatic creative optimisation

• Dynamic audience expansion

• Automated placements

Future Trends in AI and Meta Advertising

While fundamentals such as positioning, storytelling, and customer understanding will remain important, the execution layer of advertising is becoming increasingly AI-driven.

Here are some of the key trends shaping the future of AI and Meta advertising.

1. Increased Automation in Campaign Management

Features such as Advantage+ campaigns already reduce the need for advertisers to manage multiple campaign variables manually.

In the future, campaign setup itself is expected to become more simplified, with advertisers focusing primarily on:

• Business objectives

• Creative inputs

• Conversion signals

2. Greater Reliance on Creative-Led Performance

As targeting becomes broader and more automated, creative-first marketing is becoming the primary differentiator in Meta advertising.

3. Predictive Analytics Will Become More Advanced

Analytics tools are also evolving beyond traditional reporting dashboards. Future AI-powered systems will increasingly help brands:

• Predict creative fatigue before performance drops

• Forecast campaign outcomes

• Recommend scaling opportunities

• Identify high-performing audience behaviours

• Suggest new creative directions based on historical patterns

Final Thoughts

Ultimately, most D2C brands face the same reality: rising CACs, shorter creative lifecycles, and increasing competition for attention. The difference is that some brands are still trying to manually optimise every campaign, while others are building systems that help them move faster.

Benchmarks like CTR, ROAS, or CPC matter, but they are often the outcome of something deeper- better creatives, faster testing, stronger customer understanding, and smarter use of AI. For D2C brands, the future of Meta Ads isn’t about finding one perfect ad. It’s about building a repeatable engine that creates, tests, learns, and scales, over and over again.

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You’ve heard the pitch before: “The US is the world’s largest consumer market.” “Americans love Indian products.” “The dollar is strong.” All of it is true. None of it is the full picture.

What often goes unsaid is this: most Indian exporters who enter the US don’t fail because their product falls short. They fail because they assume the US is just a scaled-up version of a market they already understand. It isn’t!

For founders who take the time to understand these nuances, the opportunity is enormous. This guide breaks down what the US market really looks like, why it’s worth considering, and whether you’re actually ready to build for it.

The US: Market Landscape

Let’s start with scale, because it’s genuinely staggering.

• $18.7 trillion in total consumer spending annually, the highest of any single country

• $1.1 trillion+ in e-commerce sales (2024), growing at 10-12% year-on-year

• 335 million consumers with a median household income of ~$74,000

• Indian exports to the US crossed $83 billion in FY2024, and that’s just the beginning

But here’s the number that should really get your attention: the US imports over $3 trillion in goods every year. It cannot manufacture everything its consumers want. That gap is your opportunity.

For Indian exporters specifically, the US is already the single largest destination market. Pharmaceuticals, textiles, engineering goods, gems and jewellery, chemicals: India ships all of it. And increasingly, so do D2C brands, artisan producers, and niche manufacturers who’ve figured out how to go direct.

Why the US Over Other Markets?

There’s no shortage of great markets to expand into- the UAE, UK, Germany, Australia, each with clear opportunities. So why do so many founders eventually turn to the US? Here’s why:

1. The Dollar Advantage

At roughly ₹84-85 to the dollar (and historically ranging from ₹70-90), the USD gives Indian exporters a structural cost advantage. A product you manufacture for ₹500 can retail for $15-20 in the US, and that’s a margin profile that simply doesn’t exist in most other markets.

2. A Market That Rewards Differentiation

In the US, consumers don’t just buy products- they buy stories, design, sustainability, and authenticity. And they’re willing to pay for it.

A handwoven textile that might struggle to sell at ₹800 in India can command $40–60 in the US with the right positioning.

3. Access to Large-Scale Demand

Selling in the UK gives you access to ~67 million people. In the US, that number jumps to 300M+. But more importantly, you’re operating within a largely unified ecosystem- one primary language, consolidated platforms like Amazon, Shopify, and Walmart, and a logistics backbone built for scale.

4. Strong Distribution Through Amazon

Amazon US is the world’s most powerful product distribution engine. With over 200 million Prime members and a majority of product searches starting directly on Amazon, it effectively acts as the country’s default shopping platform.

For an Indian exporter, a well-optimised Amazon listing, with the right pricing, reviews, and positioning, can feel like being stocked across every major US city at once.

5. The Indian Diaspora as an Entry Point

The US is home to over 4 million Indian-origin consumers, many of whom are concentrated in affluent urban markets like New York, San Francisco, Chicago, Houston, and New Jersey.

They’re high-spending, culturally aligned, and more likely to trust and try Indian brands early. For many exporters, this audience becomes the initial traction engine.

Top Categories for Indian Exporters

Not every product category translates equally well to global markets. Over time, certain categories have consistently performed better for Indian exporters, driven by factors like cost advantage, craftsmanship, raw material access, and manufacturing scale.

• Handcrafted & Artisan Products Woodwork, pottery, textiles, leather goods, metalwork: anything with genuine craft heritage commands premium pricing and strong differentiation. The “handmade in India” story resonates in the US in a way it doesn’t in many other markets.

• Wellness & Ayurveda The US wellness market is $480 billion and growing. Ayurvedic supplements, herbal skincare, essential oils, and traditional wellness products are in genuine demand. Compliance (FDA registration for supplements, proper labelling) is critical, but the market is wide open for quality Indian brands.

• Home Décor & Furnishings Indian home décor, block prints, brass, cane, and sustainable materials are on-trend in the US right now. The “global living” aesthetic has a permanent place in American homes, and Indian craftsmanship is at the centre of it.

• Apparel & Sustainable Fashion American consumers are actively looking for sustainable alternatives to fast fashion- Indian handloom, natural dyes, organic cotton. Brands like FabIndia and Anokhi have proven the blueprint.

• Speciality Foods Indian spice blends, ready-to-cook kits, snacks, and condiments are finding mainstream shelf space, not just in ethnic grocery stores but in Whole Foods, Trader Joe’s, and Amazon Fresh.

• B2B & Industrial Goods If you’re not consumer-facing, the US is still the world’s largest B2B market. Engineering components, chemicals, textiles for industrial use, pharma intermediates, etc.

Is Your Business Ready for the US?

The US market is not for everyone, and it’s definitely not for the underprepared. Before you commit, ask yourself:

• Can your product meet US standards? We’ll cover certifications and compliance in the next article, but if you haven’t started thinking about CPSC, FDA, or FCC requirements for your category, start now.

• Do you have the cash to wait? Building in the US takes 12-18 months before you see real traction. Inventory, compliance costs, Amazon setup, marketing, returns: the upfront investment is real. If you need cash flow in 90 days, the US is not your first market.

• Can you handle the timezone and communication gap? US buyers, partners, and customers expect responsiveness. 12-hour time differences are manageable with systems, but “we’ll get back to you in 2-3 days” will cost you deals.

• Is your product ready for English-language packaging and marketing? Not translated, truly adapted. American consumers read labels, check ingredients, look for certifications, and notice when packaging looks like it was designed for a different market.

Timing matters. Indian exports to the US are at an all-time high, but so is competition. Chinese sellers are facing pressure from tariffs and shifting geopolitics, and US importers are actively looking for alternatives. India is well-positioned to benefit from this shift, but only if exporters enter the market with the right product, compliance, and positioning.

Over the next 24 months, brands that move early have a real opportunity to establish themselves within their categories.

Product Readiness Checklist for the US Market

Use this checklist to assess your US readiness:

Market Fit

• Identify which US category your product fits into

• Research at least 10 comparable products on Amazon.com

• Confirm there is demand (search volume, existing sales) in your category

• Identify your differentiation from Chinese and domestic US competitors

• Have a point of contact or advisor with US market experience

Financial Readiness

• Estimate a 12-18 month runway for the US market entry

• Understand the USD/INR impact on your margin structure

• Budget for compliance, certifications, and market-entry costs

Product Readiness (Preview)

• Start researching which US regulatory bodies govern your product category

• Confirm your packaging can be adapted for English-language US consumers

• Assess whether your manufacturing can meet US quality and labelling requirements

Final Thoughts

The US market is indifferent to your past wins. It doesn’t care how many countries you’ve exported to or how good your product is in isolation. It rewards one thing: how well you show up- through preparation, positioning, and persistence.

The upside, however, is unique. Get it right, and the benefits compound- visibility, customer loyalty, and brand equity that strengthens over time and becomes hard to displace.

Other markets prepare you. The US tests you. Build accordingly!

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From growing up in Ludhiana in a business family to making it to IIT Delhi, his path hasn’t been straightforward, but that’s exactly what shaped him.

Today, he’s building across two very different spaces- Wobb, an influencer marketing platform used by 800+ brands, and Lickcious, a modern intimacy wellness brand tackling a topic most people still hesitate to talk about. At his core, Ishan is simply someone who likes to build and isn’t afraid to do it where others won’t.

I’ve been around businesses for as long as I can remember. Growing up in Ludhiana, I was constantly exposed to conversations about work, risk, and building something of my own. My father is a businessman, and while I didn’t fully understand the nuances back then, I was always drawn to the idea of creating something from scratch.

What didn’t come naturally to me, however, was academics. In fact, I failed Maths in 9th grade.

And yet, somewhere along the way, I developed this strong, almost stubborn desire to pursue engineering. Not just that- I wanted to do it from one of the best institutions in India. I had heard about IIT, and I remember spending hours just reading about what life there looked like.

It felt like an impossible dream at times. But I had made up my mind. Fast forward a couple of years, and I made it to IIT Delhi. It gave me a sense of belief. A quiet confidence that stayed with me- that if I could overcome something that once felt impossible, I could probably figure out a lot of other things too.

The Early Builder Phase

In my first year of college, I started working on my first venture—Safely Home, a system designed to detect road accidents. It was an early attempt, but it got media attention and gave me a taste of what it feels like to build something that people notice.

That experience changed how I looked at my time in college.

While academics continued in the background, I found myself increasingly drawn to building- experimenting with ideas, testing things out, learning by doing.

Wobb: Opening the Doors to Influencer Marketing

In 2020, I started Wobb.

The idea was simple: influencer marketing was broken. It was messy, manual, and hard to scale. We wanted to simplify it, to make influencer-led growth accessible to everyone. Over time, Wobb grew.

What started as an idea evolved into a platform trusted by over 800 brands, including names like Colorbar, HDFC, and Emami. Working closely with so many D2C brands gave me a front-row seat to consumer behaviour, marketing playbooks, and category gaps.

And that exposure planted the seed for what came next.

The Birth of Lickcious

By late 2024, I found myself increasingly curious about the D2C space, not just as an observer, but as a builder.

I kept asking myself: What if I created a brand from scratch?

But I didn’t want to enter a crowded, obvious category. I wanted to explore something large, under-addressed, and slightly uncomfortable. Something people needed, but weren’t openly talking about.

That’s when I started looking into sexual wellness. In India, it’s a space filled with contradictions. There’s demand, but very little openness. There are problems, but limited solutions. And often, the hesitation to talk about it creates an even bigger gap in the market.

As I went deeper, one thing stood out clearly: While brands were focusing on protection, almost no one was building for intimacy, especially oral intimacy, in a modern, science-backed, and trustworthy way. We spent over a year in research and development, understanding the category, the science, and the consumer mindset. In June 2025, we launched Lickcious.

Normalising the Taboo

With Lickcious, the larger mission goes beyond building a brand. We weren’t building for protection. We were building for connection.

The goal was simple: To help people experience intimacy in a way that feels natural, enjoyable, and closer. To move the conversation away from obligation and toward experience.

What makes it even more ironic is that we come from the land of the Kamasutra, and yet, we hesitate to even acknowledge conversations around intimacy in public. Even within my own journey, there was initial hesitation- within family, within the team. But the more openly we spoke about it, the more normal it became.

Our very own milestone? In less than a year, Lickcious has helped over 50,000 couples improve their intimacy experiences.

The Shark Tank Chapter

In 2025, we applied to Shark Tank India.

We got through the selection process, pitched on the show, and even secured funding from Anupam Mittal.

But things didn’t go exactly as expected. The episode never aired. At the time, it was disappointing. You naturally imagine the visibility and the momentum that comes with it. But over time, I learned to separate the outcome from the experience.

We still walked away with something meaningful. We became one of the first sexual wellness brands to be funded on the show. We gained credibility. And we opened up new avenues to tell our story.

The Reality of Building Alone

Being a founder is often romanticised. But the reality is far more nuanced.

There are days when everything feels aligned, you’re hitting milestones, the energy is high, and the next goal feels within reach. And then there are days when nothing works.

As a solo founder, those lows can feel heavier. There’s no one to share the weight with in that exact moment. You question your decisions. You question your direction. Sometimes, you even question yourself.

But I’ve come to realise something simple. A bad day is just that- A day. It passes.

I once came across a line that stuck with me: “Eat bad days for breakfast.” And in many ways, that’s what building a startup feels like. You show up anyway. Maybe not at your best, but you show up!

One habit that helps me stay grounded is zooming out. I started from zero. And today, I’ve built something that didn’t exist before. That perspective gives you the strength to keep going.

What’s Next?

For Lickcious, the vision is clear. We want to build a brand that not only offers products but also reshapes how people think about intimacy.

More awareness & better experiences.

If Not This, Then What…

If I weren’t building startups, I think I’d be chasing something that feels just as limitless. I’ve always been fascinated by space; The scale of it, the unknown, the idea that there’s so much out there we haven’t even begun to understand.

At Razorpay Rize, Ishan Jindal’s journey feels real in a way many founders will relate to. It’s not a straight line or a perfectly planned story- it’s a series of decisions, experiments, and lessons along the way. From Wobb to Lickcious, he’s built across very different spaces, but what stays constant is his instinct to keep building, even when things feel uncertain.

We’re proud to see Ishan building boldly in spaces that truly matter.

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You’ve done the hard part- your product is ready for Canada. Regulations? Sorted. Packaging? Done. Logistics? Mapped.

Now comes the decision that can make or break your Canadian journey: pricing.

Pricing for Canada isn’t as simple as converting INR to CAD and adding a margin. You’re stepping into a market where a coffee in downtown Toronto can cost CAD 6, tax structures shift from province to province, and customers actively compare prices across borders.

So, what actually works?

The Canadian Pricing Landscape

Canada sits in a unique spot. It’s geographically part of North America, economically strong and developed, but it doesn’t behave exactly like the US market. There’s real purchasing power. Median household income hovers around CAD 70,000, and in cities like Toronto, Vancouver, and Calgary, it’s even higher. Canadians are willing to spend on quality products and premium experiences.

Cross-border comparison is second nature. A significant share of Canadians shop from US platforms like Amazon.com, mentally convert prices, and quickly judge whether the Canadian pricing holds up.

India’s export basket to Canada is diversified, yet heavily concentrated in pharmaceuticals, engineering goods, and textiles. The pricing of these goods is highly sensitive to global commodity fluctuations and the specific tariff regimes applied at the Canadian border.

Understanding Regional Price Variations

Canada isn’t a single, uniform market- it’s a collection of distinct regional markets held together by federal regulations and a common currency.

What works in Toronto might not resonate the same way in Montreal, and pricing that feels right in Vancouver could fall flat in Calgary. Each province comes with its own tax structures, cost of living, consumer expectations, and even cultural nuances. Language, lifestyle, and spending behaviour can shift significantly across regions.

The Major Metro Premium

Toronto, Vancouver, and Montreal account for roughly a third of Canada’s population. These cities have high costs of living, high incomes, and consumer expectations shaped by global exposure.

• Toronto (Greater Toronto Area - 6.4 million people): The country’s financial and business hub. Consumers here are accustomed to premium pricing, especially in downtown core areas. A CAD 200 product that might feel expensive elsewhere can feel reasonable here.

• Vancouver (Metro Vancouver - 2.6 million people): Canada’s gateway to Asia-Pacific, with strong connections to tech, trade, and outdoor lifestyle. Housing costs are astronomical, but discretionary spending remains strong. Sustainability and wellness products command premium pricing. Outdoor and fitness categories perform particularly well.

• Montreal (Greater Montreal - 4.3 million people): Quebec’s economic centre and a distinctly bilingual market. Price sensitivity is slightly higher than in Toronto or Vancouver. Cultural products, fashion, and food categories perform well.

Secondary Cities with Growing Power

• Calgary and Edmonton (Alberta): Energy sector wealth creates spending power, though it fluctuates with oil prices. Lower provincial taxes (no PST) mean your take-home pricing can be more competitive. Conservative buying patterns in some categories, but strong adoption of practical, high-quality products.

• Ottawa-Gatineau (1.4 million people): Government town with stable, professional incomes. The bilingual requirement is highest here. B2B SaaS and professional services find good traction.

• Winnipeg, Halifax, Victoria, Quebec City: Mid-sized markets (200,000-800,000 people) with distinct characteristics. Generally, more price-sensitive than major metros, but loyal customers once you earn their trust.

How To Set Pricing For Canadian Products?

1. Canadian Tax Structure & How It Affects The Pricing

Canadian taxes are complicated, and directly impact how customers perceive your pricing.

Understanding the Tax Structure

• GST (Goods and Services Tax): 5% federal tax, applies everywhere.

• PST (Provincial Sales Tax): Varies by province.

• HST (Harmonised Sales Tax): Combines federal and provincial taxes

• No provincial tax: Alberta (GST only), Northwest Territories, Nunavut, Yukon.

Unlike a centralised VAT, Canada applies a mix of federal and provincial taxes that vary significantly by geography.

Provinces like British Columbia, Manitoba, and Saskatchewan maintain separate Provincial Sales Taxes (PST) that are applied in addition to the 5% federal GST.

The Pricing Display Decision

Should you show prices with or without tax?

• For D2C retail: Most Canadian retailers display prices WITHOUT tax, adding it at checkout. This is standard practice, and consumers expect it. A CAD 99.99 product becomes CAD 112.99 in Ontario (with 13% HST) or CAD 104.99 in Alberta (with 5% GST only).

• For SaaS and B2B: It varies. Some companies show prices excluding tax, others include it. Be consistent across your site, and clearly label which approach you’re using.

Pro tip: For high-consideration purchases (anything over CAD 500), showing the after-tax price upfront can actually increase conversion.

Tax Collection Responsibilities

If your annual revenue in Canada exceeds CAD 30,000, you must register for and collect GST/HST. This isn’t optional.

You’ll need to:

• Collect the appropriate tax rate based on the customer’s province

• Remit taxes to the CRA quarterly or annually (depending on your revenue)

• Keep detailed records for seven years

Most e-commerce platforms (Shopify, WooCommerce) handle tax calculation automatically. For SaaS, services like Stripe Tax or Quaderno can manage this complexity.

2. Bilingual Market & How it Affects Pricing

Canada isn’t just geographically diverse- it’s linguistically distinct. With both English and French as official languages, your pricing strategy has to account for more than just numbers. All information required by the Act, with the exception of the dealer’s name and address, must be shown in both English and French.

In Quebec, the Charter of the French Language sets strict requirements- French must be equally or more prominent across packaging, advertising, and customer-facing materials.

• Website and app localisation: Professional translation costs CAD 0.15-0.30 per word. A 10,000-word website is CAD 1,500-3,000 to translate professionally.

• Customer support: Bilingual support staff command 10-20% higher salaries in markets like Montreal or Ottawa.

• Marketing materials: Every campaign, email, and landing page needs French versions. Double your content creation costs for Quebec-targeted campaigns.

• Packaging and labelling: Bilingual packaging is mandatory. Design costs increase 20-30%, printing costs might increase 10-15% for smaller runs.

That cost needs to be factored directly into your pricing from day one.

3. Competitive Analysis & How it Affects Pricing

You can’t price in isolation- you need to understand what you’re up against.

How Do You Research Your Competitive Set?

How Do You Position Against Competitors?

• Premium pricing (20%+ above competitors): Only works if you have clear differentiation. Better quality, unique features, superior service, or a compelling brand story.

• Parity pricing (±10% of competitors): Compete on non-price factors like brand, customer experience, or specific features your target segment values.

• Value pricing (15-30% below competitors): Viable if your costs are genuinely lower (D2C model vs. retail distribution, Indian production costs, etc.) but dangerous if it signals lower quality.

• Disruptive pricing (50%+ below competitors): Rare and risky. Only works if you’ve genuinely cracked a cost structure others haven’t, and even then, communicates clearly why you’re so much cheaper.

4. Cross-Border Dynamics & How It Affects Pricing

Canadian consumers constantly compare prices with US alternatives, factoring in exchange rates, shipping, and duties. It’s benchmarked against what they could pay across the border, so any premium needs a clear justification.

The Cross-Border Calculation

When a Canadian considers buying from a US retailer, they’re doing mental math:

US price in USD

• Shipping to Canada (CAD 15-40 for most items)

• Currency conversion (typically 1.25-1.35x)

• Duties and taxes (varies by product category, often 5-20%)

• Potential return hassles (international returns are painful)

Example: A USD 100 product from a US retailer becomes roughly CAD 150-180 all-in, plus hassle.

Note: Your Canadian pricing can be 20-30% higher than US alternatives and still be competitive when all factors are considered.

5. Seasonal Cycles & How It Affects the Pricing

Canada’s seasons don’t just affect weather- they shape buying behaviour. Demand, product relevance, and even willingness to pay can shift dramatically across the year, from winter peaks to summer slowdowns.

Your pricing needs to adapt to these cycles, aligning with when demand is highest, competition intensifies, or inventory needs to move.

• Black Friday/Cyber Monday (November): Canadians expect deals. 20-40% off is standard. This is table stakes, not a competitive advantage.

• Boxing Day (December 26): Massive shopping day in Canada. Similar discounts to Black Friday.

• Back to School (August-September): Relevant for education, productivity tools, and certain apparel categories.

• Holiday season (November-December): Gift-appropriate products can command slight premiums, but also face heavy promotional competition.

• Summer (July-August): Outdoor, travel, and lifestyle categories peak. Winter gear goes on clearance.

• Winter (January-March): Winter gear premium pricing early, clearance later. Tax refund season (March-April) drives some spending.

Final Thoughts

Pricing in Canada isn’t plug-and-play. It’s layered, contextual, and constantly compared across provinces, platforms, and even borders. Customers aren’t just looking at your price in isolation; they’re evaluating it against alternatives they can access just as easily.

If your pricing makes sense locally and stands up to cross-border comparisons, you’re in a strong position. If it doesn’t, the market won’t wait to correct you. So, start with a strong hypothesis, but expect it to change as you gather real-world data. Test across regions, refine based on customer behaviour, and stay responsive to competitive shifts.

Related Articles

Before building any product, there are three questions you need to answer: Who are your users, and what do they need? What problem is actually worth solving? And will your solution work in the real world? These questions map directly to user research, discovery, and validation.

In this article, we’ll break down what each stage really means, how they differ, and how to use them together so you spend less time guessing and more time building things that actually matter.

1. User Research

User research is the process of systematically understanding your users, their behaviours, needs, motivations, and pain points, so you can make better product and business decisions. Instead of relying on assumptions or internal opinions, user research grounds your thinking in real-world evidence by observing how people actually think, act, and solve problems in their daily lives.

User research isn’t one method- It’s a combination of approaches depending on what you’re trying to learn.

Example

Template for User Research

Before jumping into user interviews, it helps to have a clear structure for what you want to learn.

One of the simplest ways to do this is by organising your conversations around key themes. The following sections outline some of the most important themes to explore, along with guiding questions that help you dig deeper and uncover meaningful insights.

Tools for User Research

• Maze: Runs AI-moderated interviews, asks follow-up questions, and conducts research across time zones

• Dovetail: Automatically transcribes and organises interviews

• UserBit: Handles noisy audio, overlapping speakers, and converts conversations into structured data

• Google Forms: Quick and free surveys

• Typeform: Better UX, higher completion rates

• SurveyMonkey: Advanced survey logic and analytics

2. Discovery

Discovery is the stage where you decide what is actually worth building, before you invest time and resources into building it. After understanding users and their problems through research, discovery is about narrowing focus- identifying which problem truly matters, which users to prioritise, and what potential solutions could work.

Breaking Down the Discovery Phase

1. Identifying Patterns:

Move beyond individual user conversations to identify trends.

• What problems keep repeating?

• Where do users show strong emotion or frustration?

• What workarounds are common?

2. Prioritising Problems:

Evaluate problems based on:

• Frequency- How often does this occur?

• Intensity- How painful is it?

• Urgency- Do users need this solved now?

• Willingness to pay- Will they spend money to fix it?

3. Defining Your Target User

When you clearly define your target user, you begin to understand the context in which the problem exists: their stage of growth, the tools they already use, when the problem becomes most painful, and what it actually costs them if left unsolved.

4. Exploring Multiple Solutions

This is where you expand your thinking and explore:

• Different approaches to solving the same problem

• Simpler vs more complex solutions

• Manual vs automated workflows

• Short-term fixes vs scalable systems

5. Testing Assumptions Early

Before building fully, you test your thinking. This could include:

• Wireframes or mockups

• Notion workflows or manual solutions

• Conversations around proposed solutions

Example

Template for User Discovery

So, how do you actually put discovery into practice? Start with this.

Tools for Discovery

Here are some of the most useful AI tools across different parts of discovery:

• Condens: Helps tag and organise qualitative research at scale

• HeyMarvin: Extracts patterns and key quotes from user conversations

• QoQo: Turns messy notes into structured insights and generates interview questions

• ChatPRD: Helps define product requirements and refine problem statements

• Notion AI: Useful for synthesising research and drafting problem statements

• Hotjar: Heatmaps and session recordings

• FullStory: Tracks user journeys and friction points

3. Validation

Validation is the stage where you prove whether your solution actually works in the real world by testing if users are willing to commit, not just agree.

The intent is to present your idea to users in a tangible way and observe how they use it. This could include:

• Landing pages with signups

• Waitlists

• Pre-orders or early payments

• MVP usage

• Pilot programs or beta access

Example

Template for Validation

Tools for Validation

• Validator AI: Acts like an AI mentor that evaluates your idea and gives structured feedback

• SaaS Idea Validator: Scores your idea on demand, competition, monetisation, and clarity

• Trickle: Generate landing pages with waitlists, pricing polls, and conversion tracking

• Based Labs AI: Build landing pages and launch experiments without code

• ProtoBoost: Generates interactive prototypes and runs user testing + A/B tests

Final Thoughts

Great founders don’t just build fast- they build the right thing fast. Because speed without direction only gets you to the wrong place quicker. Almost every founder has experienced the frustration of building something that seemed right but didn’t land.

But, you know who gets it right? The ones who slow down just enough to understand their users deeply, make clear decisions on what to focus on, and validate honestly. even when the answers aren’t what they hoped for. Because in the long run, it’s not speed that saves you, it’s building something people actually need.

At Razorpay Rize, we get it- building a startup is tough. That’s why we’re more than just a space for connecting with other founders. We’ve got programs, tools, and services designed to take some of the weight off the shoulders and make the journey just a little bit easier.

Curious about how we support startup founders?

Explore More

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This in-depth guide helps aspiring founders understand what YC looks for, how to craft a strong application, prepare for the interview, and make the most of the experience.

SECTION 1: The YC Application

Q: What is the single most important thing YC looks for in an application?

A: Founders. The quality, determination, and complementarity of the founding team is consistently the #1 signal YC evaluates. A mediocre idea with exceptional founders will get funded; a great idea with a weak team rarely does. YC invests in people who are relentlessly resourceful and have a deep domain obsession.

Q: How should we describe our idea in the application?

A: Be ruthlessly concise and direct. YC partners read thousands of applications- vague or buzzword-heavy language is a red flag. The best answers follow a simple structure:

• What is the problem? (1 sentence)

• Who has this problem and how acutely? (1 sentence)

• What is your solution, and why is it different? (1-2 sentences)

• What is the current traction or evidence that this works?

Q: Does my startup need traction to get into YC?

A: Not necessarily, but traction is among the strongest signals. Revenue, users, or even compelling pilot commitments are all meaningful. Pre-revenue companies can and do get in, but the bar for founder quality and conviction is higher. If you have traction, lead with it. If you don’t, show evidence that the market pain is real and explain why you are uniquely positioned to solve it.

Q: How important is the video in the YC application?

A: Very important, possibly more than most applicants realise. The video lets partners assess your energy, authenticity, and whether you can communicate clearly and confidently. Keep it to 60 seconds. Both founders should speak. Do not read from a script. Look at the camera. The goal is to make YC want to meet you.

Q: What are common mistakes founders make in the YC application?

A: The most frequent mistakes that kill otherwise strong applications:

• Being vague about the problem, saying ‘we are building a platform for X’ without explaining the specific pain

• Inflating or being dishonest about traction metrics (YC will verify this in interviews)

• Describing a feature, not a company- every successful company has a vision that goes well beyond the initial product

• Poor co-founder dynamics or unexplained solo founder applications

• Underestimating market size or using top-down TAM numbers instead of bottoms-up analysis

• Not explaining why now- what has changed in the market that makes this the right moment?

Q: How many times can we apply to YC?

A: There is no limit. YC explicitly encourages reapplying, and a significant number of funded companies were rejected at least once before getting in. In fact, reapplying shows persistence and self-belief- two traits YC values highly. If you are rejected, use the feedback (if given), improve your metrics, build more traction, and apply again to the very next batch. The YC application opens twice a year, so there is no reason to wait more than 6 months between attempts.

Q: Can I make it to YC as a solo founder?

A: Yes- YC does fund solo founders, though it is harder. YC’s data shows that companies with 2-3 co-founders statistically perform better, and partners will probe solo founders more heavily on how they manage across both technical and business functions. If you are applying solo:

• Be proactive- address the solo founder question head-on in your application rather than waiting to be asked

• Demonstrate that you have a strong support network (advisors, early employees, domain experts) who compensate for the missing co-founder

• Show exceptional individual output- a solo founder who has built and shipped product fast, or who has unique domain depth, raises the bar significantly

• YC may ask: ‘Have you looked for a co-founder?’- have a thoughtful, honest answer ready

Q: Do I need to have a US entity set up before applying?

A: No. You can apply to YC with an entity incorporated anywhere. However, YC strongly recommends, and in practice requires, that you incorporate as a Delaware C-Corp before the batch begins and before you receive investment. Most YC companies from India or other countries set up a US holding company (Delaware C-Corp) with the Indian entity as a subsidiary. YC’s legal team and the YC alumni network make this process well-documented and relatively straightforward. Do not let the incorporation status block you from applying.

Q: Should we apply even if we are very early (pre-product)?

A: Yes. YC has funded many companies at the idea stage. What matters is whether you can convince YC that you understand the problem deeply, that you can execute, and that you will build relentlessly. If you are pre-product, invest extra effort in the founder quality signals: credentials, prior work, and your vision.

Q: How should we think about market size in the application?

A: YC funds companies that can become very large. A convincing market size argument is not a top-down ‘X is a $50B market’- it is a bottoms-up case: how many potential customers exist, what would each pay, and what share can you realistically win in 5 years? Alumni consistently advise: if the market is small, explain how you will expand it or move into adjacent markets.

Q: How specific should we be about the business model?

A: Be direct about how you make money. YC does not expect a polished financial model, but they do expect founders to have thought clearly about monetisation. Even if you plan to iterate, articulate your current hypothesis: subscription, transaction fee, marketplace take rate, enterprise contract, etc. Uncertainty is fine; avoidance is not.

SECTION 2: Preparing for the YC Interview

Q: What is the format of the YC interview?

A: YC interviews are approximately 10 minutes long with 2-3 YC partners. They move extremely fast. Partners will ask rapid-fire questions and interrupt frequently- this is not rudeness, it is a deliberate format to test how founders think under pressure. Do not try to give a full pitch. Answer concisely, then stop and wait for the next question.

Q: What are the most common questions asked in the YC interview?

A: Based on alumni experience, the most frequently asked questions are:

• What does your company do? (You have 30 seconds- nail this)

• How many users/customers / how much revenue do you have?

• What is growing? What is the growth rate?

• Who are your competitors and how are you different?

• Why are you the right team to solve this?

• Why now? What has changed that makes this possible?

• What would make this fail? (Founders who have thought about this score high)

• What do your best users love most?

• How did you get your first customers?

• What is your plan for the next 12 months?

Q: How should we prepare for the YC interview as a team?

A: Mock interviews are non-negotiable. Specifically:

• Do at least 20-30 timed mock interviews with people who will ask hard, sceptical questions

• Practice interruption- your partner should cut you off mid-answer and redirect

• Both founders must be able to answer every question, not just the ‘domain owner’

• Time your 30-second company description until it is memorised but sounds natural

• Get comfortable with silence after your answer- do not over-explain or fill space

• Simulate the exact 10-minute format; stopping at 10 minutes is critical

Q: How should we answer questions when we do not know the answer?

A: Be honest, not evasive. YC partners value intellectual honesty extremely highly. If you do not know a metric, say, ‘I don’t know that exact number, but here is what I do know.’ If you have not figured something out yet, say, ‘We have not cracked this yet- here is what we have tried and what we think the answer is.’ Admitting uncertainty and showing clear thinking is far better than bluffing.

Q: How should we handle disagreement between co-founders during the interview?

A: Disagreement handled well is actually a positive signal; it shows you are both engaged and think independently. If you disagree, briefly acknowledge it (’We have different views on this’), give your perspective, and move on. Do not argue or defer awkwardly. YC wants to see that you have a healthy working relationship.

Q: How do we come across as confident without seeming arrogant?

A: Confidence comes from depth of knowledge, not from bravado. The founders who impress YC most are those who know their numbers, their users, and their problem cold, and who can articulate uncertainty clearly. Arrogance shows up as dismissing competition, overstating traction, or becoming defensive. Stay grounded, specific, and curious.

Q: What should we do in the last 2 minutes of the interview?

A: Use any opportunity to show momentum. If you have just signed a new customer, raised a small round, or hit a significant milestone this week, find a natural moment to mention it. Close with clarity, not desperation- do not beg. If they give you time, ask a thoughtful question about what they see in companies like yours.

SECTION 3: What YC Really Looks For

Q: How does YC evaluate co-founder relationships?

A: YC looks for co-founders who have a history together- built something, worked together, or known each other deeply. They assess whether you communicate well under stress, whether skills are genuinely complementary (not two business people or two engineers), and whether both founders are equally committed. A co-founder who joined 3 weeks ago is a red flag; a decade-long friendship with a shared project is a green flag.

Q: What does ‘relentlessly resourceful’ mean in practice?

A: This phrase from Paul Graham describes founders who figure it out no matter what. In practice, it means: getting your first 10 customers without a product by doing it manually, travelling to where your users are to understand them, building something in a weekend to validate an assumption, or pivoting quickly when the data says you are wrong. YC looks for evidence of this trait in your history and in how you describe solving past problems.

Q: How much does the idea matter versus the team?

A: Alumni are consistent: the team matters more, but the idea cannot be irrelevant. YC has a saying: ‘We fund people, not ideas”, but only when those people are working on something with a credible path to being big and valuable. The idea matters for its market size, timing, and the founders’ ‘right to win’ (their unique insight or unfair advantage in solving this problem).

Q: What does YC mean by ‘making something people want’?

A: It means your product solves a real, felt pain- not a problem you invented or one people tolerate but do not actively seek a solution to. The best signal is users who would be genuinely disappointed if your product disappeared. YC frequently asks variants of ‘What would your users do if you shut down tomorrow?’ and ‘How did your users solve this problem before you?’

Q: Does YC have a preference for B2B vs B2C?

A: YC funds both extensively. B2B applications tend to have clearer revenue signals, which can make them easier to evaluate. B2C applications succeed when there is genuine viral growth or a massive addressable market with high retention. YC does not favour one- they favour whichever model the founders have the strongest evidence for.

Q: How does YC view India-based startups?

A: YC has become significantly more global and has funded many Indian companies across fintech, SaaS, B2B, and consumer. The key differences YC looks for in Indian companies vs. US companies are similar: clear market size, evidence of user love, and founder quality. The advantage for India-based companies is that many build for large local markets where YC has limited existing coverage- this can be a strong ‘right to win’ argument.

Q: How important is it to be based in the US or move to the US?

A: YC has relaxed this requirement significantly, especially post-COVID. Many companies now complete the batch remotely or partially. That said, YC still recommends being in the US during the 3-month batch because the density of network, investor access, and company-building support is highest there. This is worth planning for.

SECTION 4: Traction, Metrics & Growth

Q: What metrics does YC care about most?

A: YC consistently focuses on:

• Revenue (MRR/ARR): the most objective signal of value creation

• Growth rate: week-over-week or month-over-month, not absolute numbers

• Retention: Do users come back? For SaaS, monthly churn; for consumer, D1/D7/D30

• Customer acquisition cost vs. lifetime value (CAC: LTV ratio)

• Net Promoter Score or equivalent qualitative user love signal

• Time to first value: how quickly do new users experience your core benefit?

Q: What is considered good growth for a YC applicant?

A: YC’s internal benchmark is roughly 10% week-over-week growth for early-stage companies as the ‘ramen profitable’ target. However, this is a benchmark, not a cutoff. A company growing 20-30% month-over-month with very high retention and clear product-market fit can be more compelling than one growing 10% WoW with high churn. Show the trend, not just the current number.

Q: We are pre-revenue. What traction can we show?

A: Pre-revenue signals that carry weight with YC:

• LOIs or pilot commitments from named potential customers

• Waitlist signups with evidence of organic demand (no paid ads)

• Deep user interviews showing acute, validated pain

• A working prototype with early beta user engagement data

• Domain expertise that creates a clear ‘right to win’ narrative

• A previous startup or product, even if it failed, execution history matters

Q: How do we talk about our competition honestly without underselling ourselves?

A: The best framework: acknowledge what the competition does well, then explain your specific differentiation with evidence. Saying ‘there is no competition’ is an instant red flag; it signals either a small market or poor research. Saying ‘our competitors have X limitation, which is why our users switch to us’ with real user quotes or data is compelling.

Q: Should we focus on unit economics at the YC application stage?

A: You should understand them, even if you have not fully optimised them. YC does not expect early-stage companies to have perfect unit economics, but founders who do not understand their CAC, payback period, or gross margin send a concerning signal. Know your numbers, even rough estimates, and have a clear thesis for how economics improve at scale.

SECTION 5: Life at YC- What to Expect?

Q: What happens during the YC batch?

A: YC is an intensive 3-month program that includes:

• Weekly Tuesday dinners with talks from successful founders and operators

• Office hours with your dedicated YC partner (typically weekly or biweekly)

• Group Office Hours (GOH) with YC partners and other founders

• Demo Day preparation in the final 2-3 weeks

• Access to the YC community of 10,000+ alumni globally

• YC Deals- Discounts on tools (AWS, Stripe, Notion, etc.) worth $500K+

Q: What is the YC partner relationship like?

A: YC assigns 2-3 partners to each company. Partners are former founders themselves and take a coaching rather than a directive approach. The most value comes from being completely honest with your partner- sharing problems, failures, and uncertainties openly. The worst approach is to manage upward and only share good news. YC partners cannot help you with what they do not know.

Q: How much equity does YC take, and what do we receive?

A: YC’s standard deal is $500,000 for 7% equity (as of recent batches). This is non-negotiable. YC does not typically negotiate valuation. The value of the deal comes not from the investment terms but from the network, the brand signal (which affects your ability to raise follow-on capital), and the quality of advice and peer community.

Q: What is Demo Day, and how important is it?

A: Demo Day is a 2-minute presentation to hundreds of investors at the end of the batch. It typically catalyses significant fundraising for most companies. The preparation for Demo Day- distilling your company to its most compelling narrative in 2 minutes- is independently valuable. However, alumni advise against optimising the entire batch for Demo Day. Build the company; Demo Day follows.

SECTION 6: Advice from YC Alumni

Q: What do most YC alumni say they wish they had done differently before YC?

A: The most common regrets shared by alumni in prep sessions:

• Talking to more users earlier- Most founders overbuild and undervalidate

• Applying to YC earlier- Many waited for a ‘perfect’ application and lost a batch

• Hiring people who do not have the startup DNA can slow everything down

• Being more transparent with their YC partner about problems

• Prioritising visibility over building- too much press, not enough product and growth.

Q: How do alumni describe the most valuable part of YC?

A: Almost universally: the network. Specifically, access to other founders going through the same challenges in real time, and the YC alumni Slack and forums, where you can get expert help on any operational question within hours. The peer accountability (’Are you growing as fast as these other companies?’) is also frequently cited as a powerful forcing function.

Q: What is the one piece of advice alumni give to founders applying for the first time?

A: Most distil it to: ‘Apply now, not when you’re ready.’ YC is not looking for a finished product or a proven business- they are looking for extraordinary founders working on real problems. Every batch that passes without applying is a missed opportunity for the community, the network, and the forcing function of the program.

Q: How should we think about pivoting during or after YC?

A: Pivots are extremely common at YC. Many of the most successful YC companies pivoted during the batch (Airbnb pivoted their model, YouTube pivoted from dating, Twitch pivoted from Justin.tv). YC encourages pivots when the data clearly shows the current direction is not working. The key is to pivot based on user feedback and data, not based on investor feedback or because growth is temporarily slow.

Q: What role do mental health and founder wellbeing play at YC?

A: This has become an explicit priority at YC. Alumni consistently note that the batch is extremely intense and that founders who do not invest in their own well-being (sleep, exercise, relationships) make worse decisions. YC now includes programming around founder mental health, and partners actively encourage founders to build sustainable working rhythms, not because it is soft, but because burned-out founders make bad companies.

Q: How do we stand out from the thousands of YC applicants?

A: Alumni offer a consistent framework for standing out:

• Have a strong, memorable ‘why us’- your unique insight into this problem that nobody else has

• Show evidence of doing things that do not scale- manually serving users, building relationships with no shortcuts

• Demonstrate co-founder chemistry that is visible even in a 60-second video

• Have at least one impressive data point, even one paying customer, one exceptional retention number, or one compelling user quote

• Write like a human, not a pitch deck- clear, direct language beats jargon every time

SECTION 7: Quick Reference- Do’s and Don’ts

SECTION 8: Key Resources for YC Aspirants

The following resources are most frequently recommended by YC alumni in prep sessions:

1. YC Application Reviewer: Refine your application on an AI tool trained on 1000+ YC application reviews and Alumni insights

2. Startup School (YC): Free curriculum covering all stages of company building, from idea to scale

3. Hacker News (news.ycombinator.com): A community where YC founders share learnings; key essays are linked frequently

4. Paul Graham Essays: Foundational essays on founder mindset, traction, and building companies

5. YC Top Companies List: Studying successful YC companies reveals patterns in idea, traction, and team

6. Kevin Hale’s Application Review video: Former YC partner walks through how applications are evaluated

7. Dalton + Michael YC YouTube: Extremely practical, direct advice on applying and company building

Hey Everyone! ✨

The end of the financial year often brings reflection.

What worked? What didn’t? What’s next?

At Rize, March was a sprint to the finish line, with launches, milestones, and last pushes before the reset. Here’s a look at what we built, launched, and celebrated- together.

MILESTONE MOMENTS 👑

First things first, let’s celebrate some victories! We've witnessed some jaw-dropping milestones within our community, and we can’t wait to share them with you.

Celebrating…

A big congratulations to these founders! Each step forward is a victory on the path to success. So, keep pushing and growing!

ARTICLES OF THE MONTH 📜

Missed our articles last month? Check the top ones that fuelled our Founders!

✍️ How to Show Traction: B2B vs D2C vs AI Startups? (Fundraising)

✍️ Best Platforms and Marketplaces for Selling Online in Canada (Cross-border)

✍️ A Guide to High-Converting Landing Pages & Catalogues (AI for D2C Brands) (D2C/ eCommerce)

✍️ Startup Sahayak: How Your Idea Becomes a Roadmap in 120 Seconds? (Startup Ideation)

Discover more such insightful reads in the Vault! The collection is growing every day.

Vault by Razorpay Rize

Thoughts from a thriving community of founders and entrepreneurs to fuel innovation, learn from each other's journeys, and Rize together.

STORIES FROM RIZE-PRENEURS 📎

This month, we spotlighted Sheetal Goel, founder of Cupik Design- a brand that started with something as simple as a mother trying to solve a problem for her child. What began as personalised labels for her daughter quickly turned into one of India’s most loved stationery and gifting brands, built on creativity, emotion, and deep customer connection.

KEY HIGHLIGHTS THIS MONTH💡

New initiatives, exciting launches, and everything you need to stay ahead.

✨Rize at Razorpay FTX ‘26✨

FTX 26 set the stage for some of the most forward-looking conversations in fintech and AI, with agentic AI emerging as a key theme shaping what’s next.

But beyond the panels and predictions, what truly stood out was the energy on the ground. The Rize booth became a meeting point- where founders paused, connected, and leaned into honest, unfiltered conversations.

✨ Startup Sahayak- Launch✨

We also launched Startup Sahayak. Built to support founders at the very start of their journey, it brings together clear market insights, a deep understanding of the competitive landscape, and the structured guidance that helps you move from idea to execution.

Explore now

✨ Rize D2C+ City Circle: Bengaluru✨

30+ founders. One breakfast table.

That’s what our Rize D2C+ City Circle in Bangalore looked like last month, where founders came together to share what’s really happening behind the scenes. From growth challenges to scaling insights, the discussions were honest, unfiltered, and deeply relevant.

A quick note before we wrap up: Rize for YC is now live!

If you’re applying to Y Combinator Summer 2026, we’ve built the AI YC Reviewer, powered by insights from YC alums and 1000+ YC applications. This tool helps you pressure-test your application and apply it with more confidence.

Get Review Now

MEET OUR NEWEST FOUNDERS: ONBOARDING EDITION 👥

Say hello to the latest group of founders joining the Rize Communities! They're full of bold ideas and big dreams, ready to take the startup world by storm.

Dive into Vault today & unlock a world of possibilities. 

Subscribe now

There’s a moment every founder reaches, and it’s not the one people usually talk about. It comes right after the excitement of a new idea- after you’ve imagined the product, maybe shared it with a few friends, and spent hours going down research rabbit holes.

Then you sit down, ready to begin, and a simple question shows up: What do I actually do next?

Startup Sahayak was built to solve this gap. In about 120 seconds, it generates a personalised startup roadmap based on your idea, industry, and experience. It dives into market sentiment, competitive landscape, compliance requirements, and even maps relevant government schemes and grants you could be eligible for.

But what makes this possible isn’t just AI- it’s the system behind it!

To understand the thinking behind Startup Sahayak, we sat down for a candid conversation with Hemlata Saraf, the Product Manager at Razorpay, who helped build it.

What sparked the idea for Startup Sahayak?

Honestly, it started with a pattern we kept seeing. Founders would come in with really solid ideas, but the moment you asked, “What’s your next step?”- they’d pause. Not because they weren’t serious, but because they didn’t know where to begin. There was so much information out there, but nothing that translated their idea into a clear path. That gap is what we wanted to solve.

Who do you think benefits the most from Startup Sahayak?

I think first-time founders benefit the most- especially those without access to mentors or strong networks. This includes people in Tier 2 and Tier 3 cities, students, or anyone exploring ideas alongside their jobs.

That’s really who we built this for- people who just need a clear starting point to get going.

Why was the experience designed around just eight questions?

We were very intentional about that. If you make it long or complicated, people drop off. Early-stage founders are already overwhelmed- they don’t want to fill out a form that feels like work. So the challenge was: how do we ask the right questions, not more questions? Each one is there because it actually changes the direction of the roadmap.

Can you walk us through how Startup Sahayak actually works under the hood?

The simplest way to think about it is- it’s not one AI doing everything. It’s multiple systems working together.

The moment you submit your inputs, different “skills” kick in at the same time. One part of the system looks at your idea and scans across 150+ sources to understand the market, competition, and demand. Another part focuses on government schemes- it pulls data from official sources, stores it, and then matches your idea with grants you might be eligible for.

All of this runs in parallel, which is why we’re able to give something that feels detailed but still comes in quickly. What you see as one output is actually multiple layers working behind the scenes.

How is this different from simply using AI tools directly?

Most AI tools are great, but only if you know what to ask. That’s the catch!

A lot of founders don’t have perfectly framed questions. They just have an idea. So instead of expecting them to figure out prompts, we structured the entire experience. You answer a few questions, and the system does the thinking for you- connecting everything into a roadmap instead of giving scattered answers.

What was the hardest part of building this?

Surprisingly, not the tech!

We had access to a lot of information- market data, founder journeys, compliance steps, and government schemes. The real challenge was: how do we show all of this without overwhelming the user?

Because at that stage, founders don’t need everything. So we spent a lot of time figuring out what to include, what to leave out, and how to make the output feel simple but still useful.

If you were starting a company today, how would you use Startup Sahayak?

I actually did try this myself. I had this idea for a certified nanny service for urban families- it felt like a real problem, and something that didn’t exist widely. But when I ran it through Startup Sahayak, it immediately showed me that a similar company was already operating in Bangalore. That was a bit of a reality check.

It saved me time. It made me think differently- what’s the gap here, how would I position this, is this still worth pursuing?

That’s how I see founders using it. Not to blindly validate their idea, but to see it clearly before going all in.

What’s next for Startup Sahayak?

Right now, we still ask users a few structured questions. But the goal is to make this even simpler. Ideally, you should be able to just describe your idea, and the system figures out the rest- asks what’s needed, builds the roadmap, maybe even suggests your target customers.

We also want to expand beyond government programs, bring in accelerators, ecosystem support, and more context.

Building a startup will always involve uncertainty. There’s no tool that can remove that completely, and maybe it shouldn’t. But figuring out your next step shouldn’t be the hardest part.

Sometimes, all you need is a little direction. A starting point that makes sense for you- If you’re sitting on an idea, check out Startup Sahayak and start building!

Explore now

At Razorpay Rize, we get it- building a startup is tough. That’s why we’re more than just a space for connecting with other founders. We’ve got programs, tools, and services designed to take some of the weight off the shoulders and make the journey just a little bit easier.

Dive into Vault today & unlock a world of possibilities. 

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In collaboration with Gourav Kondadadi

The guide for building high-converting D2C websites is evolving rapidly, and at the centre of this shift are creators like Gourav Kondadadi. Gourav is the founder of MinionArts, an AI-powered creator suite and OTT platform focused on bringing untold folklore, cultural narratives, and human stories to a global audience.

With 7+ years of experience at the intersection of data, AI, and marketing, spanning analytics infrastructure, AI product launches, and digital growth, he brings a unique blend of precision and creativity to how modern content systems are built.

What once required designers, photographers, copywriters, and weeks of iteration can now be executed in days, sometimes hours, using AI. This guide breaks down how to actually use AI as a system- not just a tool- to build website and catalogue pages that convert.

The Core Challenges in D2C Content Creation

Despite all the hype around AI, most D2C brands experimenting with it run into the same set of challenges.

1. Inconsistent Product Representation

On the surface, A outputs can look impressive- clean visuals, polished copy, and quick turnaround times. But when you look closer, cracks start to appear. Product images may slightly distort textures, shift colours, or misrepresent packaging details.

If what customers see doesn’t match what they receive, conversions drop and returns increase.

2. Scaling Without Breaking the System

Scale introduces another layer of complexity. Creating content for a few products is relatively straightforward, but as your catalogue expands to hundreds or thousands of SKUs, the effort multiplies exponentially.

Each product needs multiple variations- different backgrounds, formats for ads, platform-specific creatives, and seasonal adaptations. Without a structured system in place, teams quickly find themselves overwhelmed, juggling multiple tools and inconsistent outputs.

3. Prompt Fatigue

While prompting is positioned as a simple input task, in reality, writing detailed and accurate prompts repeatedly is both time-consuming and mentally exhausting.

Over time, inconsistencies creep in, different team members write prompts differently, details get missed, and output quality becomes uneven. Instead of accelerating workflows, AI starts creating additional layers of correction and rework.

This is why simply adopting AI tools isn’t enough. Without structure, systems, and consistency, AI can end up adding complexity instead of solving it.

The AI Tool Stack: What Each Tool Actually Does

To build a high-converting website and catalogue, you don’t rely on a single tool- you orchestrate a system. Here’s a breakdown of the tools mentioned and where they fit:

Copy & Prompting

• ChatGPT
  A powerful language model used for generating product descriptions, ad copy, and most importantly, well-structured prompts. It acts as the “thinking layer” of your workflow, helping translate business inputs into AI-ready instructions.

Image Generation

• Google Gemini
  A multimodal AI model capable of generating high-quality product visuals when guided with structured prompts. Particularly useful for creating catalogue images and lifestyle shots.

• Google Flow
  A workflow interface that complements Gemini, helping streamline the process of generating and iterating on visual outputs.

Design & Creative Production

• Canva (Magic Studio)
  A design platform enhanced with AI features like:

  • Magic Write (AI copy generation)

  • Dream Lab (visual ideation)

  • Batch Mode (bulk creative generation)

  • Brand Kit AI (ensures consistent fonts, colours, and styles)
    Best suited for turning raw AI outputs into polished, brand-aligned creatives at scale.

Performance Marketing & Optimisation

• Meta AI
  A suite of AI tools within Meta’s ad ecosystem that helps:

  • Automatically generate ad variations

  • Optimise campaigns using Advantage+

  • Convert images into video formats

  • Continuously test and improve performance using the Andromeda engine
    Ideal for scaling creatives and identifying what actually converts.

Realism & UGC Content

• Kling
  An AI tool known for generating highly realistic video content, often used for product storytelling and short-form videos.

• Krea
  Focuses on real-time image and video generation, with a strong emphasis on realism and aesthetic control, making it useful for creating UGC-style creatives that feel organic.

Supporting Creative & Asset Tools

• Freepik
  A resource platform for design assets like vectors, backgrounds, and mockups that can enhance AI-generated creatives.

• Seedream
  A visual generation tool used for creating stylised or conceptual imagery to support branding and storytelling.

AI-Native Creation Platforms

• MinionArts
  A next-gen AI platform designed for creators and marketers to produce and distribute micro-dramas and storytelling content. It has an entire automation suite that helps generate full marketing campaigns and catalogue media assets from product inputs, automatically creating multiple creatives, formats and variations.

Campaign Automation Tools

• Flora
  Helps generate full marketing campaigns from a single product input, automatically creating multiple creatives, formats, and variations by building automation workflows.

• Pomelli
  Focused on turning product images into ready-to-launch campaign sets, reducing the manual effort involved in creative production.

The Prompting Framework Every D2C Team Needs

At the heart of every successful AI workflow is not the tool, but the prompt. Most D2C teams treat prompting as a one-off task- something you quickly write to get an output. But in reality, prompting is a system design problem. The quality, consistency, and scalability of your content depend on the structure of your inputs.

A simple prompting framework typically includes:

• Product details (type, material, dimensions)

• Visual attributes (colour codes, texture, finish)

• Environment (background, lighting, setting)

• Style direction (premium, minimal, lifestyle, UGC)

• Constraints (negative prompts and exclusions)

Here are the key frameworks you should be using:

1. Attribute-Based Framework (Best for Product Accuracy)

This is the most fundamental framework, where prompts are broken down into clear product attributes. Instead of describing the product loosely, you define it using structured inputs.

This works especially well for catalogue images where accuracy is important, such as fashion, jewellery, or packaging-heavy products.

2. Reference-Based Framework (Best for Visual Accuracy)

Instead of relying only on text, this framework uses reference images or mood boards to guide AI outputs.

This is particularly useful when:

• You want to replicate a certain style

• You need high fidelity to real product visuals

• You’re maintaining consistency across campaigns

3. JSON / Structured Prompting Framework (Best for Scale)

This is an extension of attribute-based prompting, but formatted in a structured way (like JSON). It’s ideal for teams working with large catalogues and multiple SKUs.

Instead of rewriting prompts, you create a repeatable template where only values change.

6. Variation Framework (Best for A/B Testing)

This framework is designed for performance marketing, where the goal is not just to create a single asset but to produce multiple variations.

It helps generate:

• Different backgrounds

• Multiple hooks

• Format variations (image, video, carousel)

7. Pipeline / Node-Based Framework (Best for End-to-End Systems)

This is the most advanced framework, where prompts are not standalone—they are part of a connected workflow.

Each stage feeds into the next:

• Input → Analysis → Prompt generation → Output → Optimisation

How to Choose the Right Framework?

In practice, you won’t use just one framework- you’ll combine them:

• Use Attribute + JSON frameworks for catalogue creation

• Layer Style + Reference frameworks for branding

• Add Negative prompting for quality control

• Use Variation frameworks for performance marketing

• Connect everything through a pipeline system

Building a Scalable AI Pipeline

A scalable AI pipeline connects every stage of content creation, starting from product inputs (images and attributes), moving into analysis where models structure and refine details, followed by generation of visuals, design of branded assets, and finally testing and optimisation.

Final Thoughts

Right now, it might feel like everyone is “using AI”- generating images, writing copy, testing tools. But if you look closely, most D2C brands are still stuck in the same loop: create, fix, redo.

The real shift isn’t about using more tools like ChatGPT or Google Gemini. It’s about stepping back and asking- is this actually making my life easier, or just adding another layer of work? Because the brands that are winning are the ones quietly building systems, where one input turns into multiple outputs, where creatives don’t need to be reinvented every time.

AI doesn’t replace the founder instinct- the understanding of your customer, your brand, your story. It just removes the friction between idea and execution. Tools like Canva or Meta AI help you get there faster.

So if there’s one takeaway from all of this, it’s simple: Don’t try to “use AI better.” Start building a setup where things happen without you having to think about them every time.

Because once that clicks, you’re no longer just running a brand- you’re running a machine that grows with you!

Dive into Vault today & unlock a world of possibilities. 

Subscribe now

Before Cupik Design became a brand, it was just a solution. Sheetal Goel, a former advertising professional, was simply trying to create something for her daughter. What followed was an unexpected journey into entrepreneurship.

Cupik Design is now one of India’s most loved personalised brands, catering to thousands of customers and even creating for names like Shah Rukh Khan and Bryan Adams.

At the core of it is Sheetal Goel, who started with a simple problem and ended up building a brand that blends creativity with emotion.

I started out in advertising, working on brands like Pidilite and ICICI Mutual Funds at Ogilvy in Mumbai. On paper, everything looked right, but something always felt missing. I wasn’t creating, I was just managing.

Creativity had always fascinated me, even though I wasn’t formally trained in design. So I taught myself- late nights with Photoshop, figuring things out as I went. That curiosity slowly turned into a need, and eventually, I felt underutilised, and that’s when I decided to walk away.

My First Step Into Entrepreneurship

After Ogilvy, I co-founded a company called Thought Bubble with a friend. I was handling brand management, and for the first time, I experienced what it felt like to build something from the ground up. It was exciting, unpredictable, and deeply fulfilling in a way my previous roles hadn’t been.

Eventually, we decided to go our separate ways. Around the same time, I stepped into motherhood. What many see as a career pause became a transformative phase for me. I truly enjoyed that time, and little did I know, it would change my entire career path.

How Cupik Started

The idea for my business came from something very simple. I needed to label my 17-month-old daughter’s belongings for preschool, and I couldn’t find anything locally. So I designed my own- cute labels, bag tags, gift tags.

But on a whim, I shared a picture of them on Facebook. What happened next completely surprised me. Within days, my inbox was filled with messages. Friends, acquaintances, even people I didn’t know well started asking if I could make these for them too. That was the moment I paused and thought- this isn’t just my problem. This is something many people need!

The name “Cupik” came from my daughter’s early words. It stayed because it felt simple, personal, and full of emotion.

I didn’t have a website back then. I created a few designs, assigned them SKU codes, and posted them on Facebook. Orders came in through messages, and I would design and fulfil them while managing everything else in life. I still remember sitting in my car after dropping my daughter off at school, designing in that little window of time.

Over time, something beautiful happened. The kids in my daughter’s class started calling me “sticker aunty.” I would make stickers for everyone, and slowly, without even realising it, I was building not just a product, but a connection.

We have delivered over 1.5 lakh personalised products nationwide, with a portfolio of 3000+ SKUs across 50 product lines.

The Journey of Learning

While the business may have started organically, my exposure to digital and entrepreneurship wasn’t entirely new. During my MBA, I helped my father take his business online in the early 2000s- a time when very few people were thinking digitally.

I remember sitting and designing web pages for clients who spent as little as ₹5,000 on ads, just to add value. I also experimented with an early startup of my own back then.

All of this gave me a foundation, an understanding of how the internet works, how customers behave, and what it takes to build something online. When I started Cupik Design, I leaned on that experience!

The Toughest Phase

Things were going well until 2020. Then COVID hit, and like many businesses, mine was badly affected. It was honestly a make-or-break moment. I didn’t know if we would survive.

But instead of giving up, I used that time to reorganise everything. I moved to WooCommerce and split my business into three clear parts: my D2C brand, white-labelling for global companies, and corporate gifting.

During the pandemic, I received a large corporate order for gratitude journals- 4,500 units. It wasn’t something I had planned for, but it opened up an entirely new direction for the business. At the same time, products like personalised headphones started doing really well. To this day, I believe those decisions and products helped us stay afloat.

Over time, we also had the opportunity to create for some incredible people- a phone case used by Shah Rukh Khan, a custom piece for Bryan Adams. These moments felt surreal, especially considering how the journey had started.

Among everything we’ve created, my “Memoir” journals are very special to me. They’re designed for families to write letters to their children over time- a way to create something that lasts beyond us. For me, that feels like a legacy. Something that stays, even if I’m not around.

The Hardest Decision I’ve Made

One of the hardest things for me has been balancing my love for design with the needs of the business. Designing is very personal for me- it’s something that soothes me. But I realised I was creating far more than what the business could actually sell. So I had to bring in structure.

Now, I design only during specific windows of the year, curate what I release, and have reduced the number of SKUs on my website. I also treat my D2C brand as my creative space, while corporate work drives revenue. It wasn’t easy, but it was necessary.

It Takes a Village

My journey hasn’t been a solo one. My team has been incredible- some of them have been with me for over 8 years. My parents have been a huge support system, especially in helping me balance my child and my business, both of which have grown almost side by side.

When we win, we celebrate, sometimes with something as simple as a day off or a festive party. And when things don’t go well, I take a step back, reflect, and come back stronger.

One Advice for New Founders

If there’s one thing this journey has taught me, it’s this: Don’t lose yourself while building something. In my early years, I pushed myself too hard. I dealt with severe stress, insomnia, and the constant pressure of making things work.

Over time, I’ve learned that you have to take care of yourself first. Only then can you build something sustainable.

If Not This, Then What…

If I weren’t building Cupik Design, I would still be creating. I see myself heading product design for a larger brand or consulting for international companies entering India.

At the end of the day, I’m a designer at heart, and I think I always will be.

At Razorpay Rize, we love stories of founders who evolve with their businesses, and Sheetal Goel’s journey is exactly that. From her early days in advertising to teaching herself design and eventually building Cupik Design, she has continuously adapted and grown.

Her ability to balance creative passion with business decisions makes her journey especially inspiring for anyone building in the D2C space.

Dive into Vault today & unlock a world of possibilities. 

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Hey Everyone! ✨

February may be the shortest month of the year, but founders made every day count. We met ambitious builders at demo days, saw new startups take shape, and helped more entrepreneurs begin their journeys.

Here’s a quick recap of what February looked like at Rize.

MILESTONE MOMENTS 👑

First things first, let’s celebrate some victories! We've witnessed some jaw-dropping milestones within our community, and we can’t wait to share them with you.

Celebrating…

A big congratulations to these founders! Each step forward is a victory on the path to success. So, keep pushing and growing!

ARTICLES OF THE MONTH 📜

Missed our articles last month? Check the top ones that fuelled our Founders!

✍️ Why Canada Matters for Exporters in 2026? (Cross-border)

✍️ How Much MRR Do You Really Need to Raise Seed? (Fundraising)

✍️ B2B Logistics for Indian Exporters in the UK Market (Cross-border)

✍️ The Supply vs Brand Dilemma: Which Export Business Model Truly Scales? (Cross-border)

Discover more such insightful reads in the Vault! The collection is growing every day.

Vault by Razorpay Rize

Thoughts from a thriving community of founders and entrepreneurs to fuel innovation, learn from each other's journeys, and Rize together.

STORIES FROM RIZE-PRENEURS 📎

This month, we also spotlighted some inspiring founders from the ecosystem. Aaditya from Multibagg AI, who started his journey from a small town and went on to pitch on Shark Tank India, shared his story of building against the odds.

We also featured Jay and Ojasvika, the founders of Shram- architects redefining how technology should work for everyday people and making digital systems more accessible for the common workforce.

KEY HIGHLIGHTS THIS MONTH💡

New initiatives, exciting launches, and everything you need to stay ahead.

✨Rize Demo Day- D2C Edition✨

We hosted the Rize Demo Day: D2C Edition, bringing together founders, investors, and Razorpay leaders for an evening focused on the future of consumer brands in India.

6 founders from the Rize community took the stage to pitch their startups, while 15+ D2C brands were showcased to a room full of VCs and ecosystem leaders.

What stood out most wasn’t just the pitches- it was the passion behind them. From sharp brand stories to tough investor Q&A, the room was filled with the kind of energy that only comes from founders building something they truly believe in.

One thing was clear: India’s D2C wave is already here, and these founders are leading it.

✨ Next Big Thing by Razorpay: Cohort 2 ✨

February also marked a big milestone for the Rize community. 10 Rize founders were selected for Razorpay’s Next Big Thing cohort, taking their ideas and products to one of the most exciting startup platforms in the ecosystem.

✨Rize For YC: Summer 2026✨

A quick note before we wrap up: Rize for YC is now live!

If you’re applying to Y Combinator this batch, we’ve put together resources and support to help founders ace their YC applications and get ready for the journey ahead.

We also built the AI YC Reviewer, powered by insights from YC alums and 1000+ YC applications. The tool helps you pressure-test your application and apply it with more confidence.

Get Review Now

MEET OUR NEWEST FOUNDERS: ONBOARDING EDITION 👥

Say hello to the latest group of founders joining the Rize Communities! They're full of bold ideas and big dreams, ready to take the startup world by storm.

Dive into Vault today & unlock a world of possibilities. 

Subscribe now

You’ve registered your business, finalised your products, and sorted out logistics. Now comes the real question: Where do you actually start selling in Canada?

The Canadian e-commerce market is mature and relatively concentrated. Unlike India, where sellers can experiment across dozens of marketplaces, Canada is dominated by a handful of major platforms. On top of that, Canadian shoppers have long been comfortable buying from US brands, which means expectations around pricing, delivery speed, and product quality are already quite high.

The smarter approach is simpler: focus on the platforms that Canadian consumers already trust and shop on. Picking the right channels from the start can dramatically improve your chances of gaining early traction.

Amazon.ca

Amazon.ca is the dominant e-commerce player in Canada. Roughly 75% of Canadian online shoppers have bought from Amazon in the past year. For many categories, it’s the first place Canadians look.

Why Amazon.ca Matters?

• Built-in traffic: Millions of Canadians shop on Amazon.ca every day, putting your products in front of active buyers without needing to spend heavily on ads.

• Trust and infrastructure: Canadian shoppers already trust Amazon. With Prime, fast shipping, and easy returns, the platform offers logistics and credibility that would be expensive to build independently.

• Low barrier to entry: You don’t need a website, payment setup, or large marketing budgets to get started- optimised listings can start generating sales quickly.

• Market insights: Amazon is also a great testing ground for understanding demand, gathering reviews, and learning what works with Canadian customers.

How to set up on Amazon.ca?

Requirements:

• Canadian business registration (corporation or sole proprietorship with GST/HST number)

• Canadian bank account for payouts

• Tax information (business number, tax ID)

• Product information (UPCs/EANs, manufacturer info, safety certifications if applicable)

Account Types:

• Individual Account: No monthly fee, pay CAD 1.49 per item sold plus referral fees. Works if selling under 40 items monthly- limited features, no advertising access.

• Professional Account: CAD 29.99 monthly plus referral fees. Unlimited listings, access to advertising, bulk listing tools, and API access. Required for serious selling.

Start with Professional if you’re committed. The monthly fee pays for itself quickly once you’re moving volume. Referral fees (8-15% depending on category), FBA fees (15-30% of product price for storage, picking, packing, shipping), and advertising costs (15-30% of sales if you want visibility). All in, expect 35-50% of your revenue going to Amazon-related costs.

How to set up Fulfiment: FBA vs FBM?

When selling on Amazon.ca, one of the first decisions you’ll make is how to fulfil orders. Amazon offers two primary models: Fulfilment by Amazon (FBA) and Fulfilment by Merchant (FBM). The choice determines who handles storage, shipping, customer service, and returns, and it can significantly impact costs, delivery speed, and customer trust.

For most Indian brands, FBA makes sense. The infrastructure Amazon provides is worth the cost, especially early on when you’re learning the market.

How to optimise Amazon.ca listings?

• Product Titles: Front-load important keywords. Include brand, key features, size/quantity. Amazon allows up to 200 characters, but focuses on the first 80-100 (what shows in search results).

  Example: “Organic Turmeric Powder 500g - Pure Indian Haldi, Curcumin Supplement, Anti-Inflammatory Spice for Cooking & Golden Milk”

• Bullet Points: Five bullet points highlighting key features and benefits. Start each with a benefit, then explain the feature.

• Product Description: More detailed information. Address common questions and concerns. Use this space to tell your story if relevant (handmade, traditional methods, family recipe, etc.).

• Images: Minimum six high-quality images. Main image on white background (Amazon requirement). Additional images showing the product from multiple angles, in use, size comparisons, packaging, and ingredients/materials. Infographics highlighting features work well.

• Backend Keywords: 250 characters of hidden search terms. Include variations, misspellings, and related terms not in your title or bullets.

• A+ Content (formerly Enhanced Brand Content): If brand registered, create visual product descriptions with images and formatted text. Significantly improves conversion rates.

How to price your product on Amazon?

• Differentiate on quality, story, or features instead.

• Amazon’s algorithm determines who wins the Buy Box (the “Add to Cart” button). So, monitor the factors that affect it, which include price, availability, shipping speed, and seller performance.

• Factor in all costs: Amazon fees, shipping to FBA, storage, returns, and advertising. Then add your desired margin.

• Use automated repricing cautiously: Tools exist to adjust your prices based on competitors automatically. Set minimum prices you won’t go below.

How to advertise on Amazon?

• Sponsored Products: Your products appear in search results and product pages. Pay-per-click. Start here. Target relevant keywords, monitor ACoS (Advertising Cost of Sale), and optimise based on what converts.

• Sponsored Brands: Your brand logo and multiple products in banner ads. Requires brand registry. Good for building brand awareness.

• Sponsored Display: Product targeting and remarketing. More advanced, use once you’ve mastered Sponsored Products.

Budget 15-30% of revenue for advertising when starting. As you get reviews and optimise listings, you can reduce ad spend while maintaining sales.

How to approach Reviews and Ratings?

• Products with fewer than 15 reviews struggle. 50+ reviews with 4+ stars are where sales really accelerate. 100+ reviews give you strong credibility.

• Amazon Vine program (invites reviewers to review products in exchange for free products). Request reviews through Amazon’s “Request a Review” button (one per order, automated or manual).

• Respond professionally to critical reviews through Seller Central. Address the issue, offer to make it right. Shows future buyers you care about customer satisfaction.

Shopify

Shopify is Canadian (founded in Ottawa in 2006) and the dominant global D2C e-commerce platform. Over 2 million merchants use Shopify, many of them Canadian.

Why Shopify Matters for Canadian D2C?

• Direct customer relationship: You own the customer data. That means collecting emails, building a customer database, and remarketing directly, something marketplaces rarely allow.

• Full brand control: From design and messaging to the overall shopping experience, your website reflects your brand exactly the way you want it to.

• Stronger margins: Without marketplace commissions, costs are mainly your Shopify subscription (CAD 39–399/month), payment processing (around 2.9% + 30¢ with Shopify Payments), and marketing spend, often leading to better unit economics once you have steady traffic.

• Greater flexibility: You can sell almost anything legally, bundle products, offer subscriptions or customisation, and run promotions without marketplace restrictions.

• Multichannel selling: Shopify connects easily with platforms like Facebook, Instagram, Google Shopping, and even Amazon, allowing you to manage multiple sales channels from a single backend.

How to set up on Shopify?

1. Choose a plan: Shopify offers multiple pricing plans designed to support businesses at different stages of growth.

• Basic Shopify: CAD 39/month. Good for starting out. Unlimited products, 24/7 support, sales channels, and discount codes.

• Shopify: CAD 105/month. Professional reports, lower transaction fees if not using Shopify Payments.

• Advanced Shopify: CAD 399/month. Advanced reports, third-party calculated shipping rates, and lower transaction fees.

Start with Basic unless you need specific features from higher tiers.

2. Provide a Domain Name: Register a .ca domain for credibility with Canadian customers. YourBrand.ca signals you’re serious about the Canadian market. .com works too, but .ca is preferred.

3. Select a Theme: Shopify has free and paid themes (CAD 200-300 typically for paid). Paid themes offer more features and design flexibility. Choose themes optimised for your product type (e.g., fashion, electronics, food).

4. Add Essential Apps: Once your store is set up, adding the right apps can help extend functionality, automate operations, and improve customer experience.

• Klaviyo or Omnisend: Email marketing (abandoned cart recovery, welcome series, post-purchase flows)

• Loox or Judge.me: Photo reviews with social proof

• Privy or OptiMonk: Popup forms for email collection

• AfterShip: Shipment tracking

• Gorgias or Zendesk: Customer support ticketing

• SEO Manager or Plug in SEO: SEO optimisation tools

  Budget CAD 100-300/month for apps once you’re established.

5. Add Payment Processing methods:

• Shopify Payments: Built-in and easy to set up, with competitive rates (around 2.9% + 30¢ per online transaction) and no additional third-party transaction fees. Powered by Stripe’s infrastructure, it supports all major credit cards and Shop Pay for faster checkout. A Canadian bank account is required to use Shopify Payments.

• Alternative Processors: PayPal, Stripe (if not using Shopify Payments), Moneris. All work, but you’ll pay Shopify’s third-party transaction fee (0.5-2% depending on plan) in addition to processor fees.

For most merchants, Shopify Payments is the best option.

How to drive traffic to your Shopify Store?

Paid Ads

Budget at least CAD 1,500-3,000/month for paid ads to see meaningful results. Expect 30-60 days to optimise campaigns and understand what works.

• Facebook/Instagram Ads: Highly targeted, visual format works well for consumer products. Start with a CAD 30-50/day budget. Focus on conversion campaigns once you have pixel data.

• Google Ads: Start with branded search (your brand name), then expand to category terms.

• TikTok Ads: Creative-driven platform. Products that demonstrate well perform best.

Organic/Content Marketing

• SEO: Optimise product pages and create content targeting keywords your customers search. Takes 3-6 months to see results, but pays long-term dividends.

• Social Media: Build a following on Instagram, TikTok, and Facebook. Post regularly, engage with the audience, and share authentic content.

• Content Marketing: Blog posts, guides, recipes (if food product), style tips (if fashion), etc. Drives organic traffic and establishes expertise.

• Email Marketing: Collect emails aggressively (pop-up offers, signup discounts). Email is your highest ROI channel once you have a list.

• Influencer Marketing: Partner with Canadian influencers in your niche. Micro-influencers (10k-100k followers) often deliver better ROI than mega-influencers. Typical rates: CAD 200-2,000 per post, depending on follower count and engagement.

• Partnerships: Collaborate with complementary brands, get featured in gift guides, and reach out to Canadian media/blogs for product features.

How to optimise for conversion on Shopify?

• Professional Product Photography: Hire a professional photographer or invest in good lighting/equipment. Multiple angles, lifestyle shots, and detail images.

• Clear Product Descriptions: Answer questions before customers ask. Benefits-focused, detailed specifications, sizing information, and material details.

• Trust Signals: Customer reviews, “As Seen In” media logos, security badges, clear return policy, contact information readily available.

• Mobile Optimisation: 60-70% of traffic will be mobile. Test your site on multiple devices: fast loading, easy navigation, simple checkout.

• Abandoned Cart Recovery: Set up automated emails to send when someone adds items to the cart but doesn’t complete the purchase.

• Fast Checkout: Minimise steps. Offer Shop Pay (one-click checkout for returning customers) and a guest checkout option. Clearly show shipping costs early.

Walmart.ca

Walmart Canada has been aggressively expanding its online marketplace. Not as dominant as Amazon but growing quickly, especially in specific categories.

Why consider Walmart.ca?

• Lower competition than Amazon: With fewer sellers on the platform, it’s often easier for new brands to gain visibility and stand out in many categories.

• Strong consumer trust: Walmart has strong brand recognition in Canada and is widely associated with value and reliability.

• Growing online traffic: Walmart continues to invest in its e-commerce platform, with monthly online visitors steadily increasing year over year.

• Favourable fees in some categories: In certain product categories, seller fees can be lower than Amazon, leading to better margins.

How to set up a Seller Account on Walmart.ca?

• Apply for Walmart Marketplace
  Submit an application on the Walmart Canada Marketplace site with your business details, product categories, and existing sales channels.

• Get Approved & Access Seller Centre
  Once approved, you’ll receive access to Walmart Seller Centre, where you manage listings, inventory, orders, and performance.

• Upload Your Products
  Add products manually, via bulk upload (CSV), or through integrations like Shopify. Listings require details like title, description, images, price, and UPC/GTIN.

• Set Shipping & Returns
  Configure shipping regions, delivery timelines, and return policies. Most sellers handle their own fulfilment.

• Launch & Optimise Listings
  Go live, monitor orders, and optimise listings with good images, competitive pricing, and accurate product details to improve visibility.

Some Canadian Niche Marketplaces

Several smaller but relevant marketplaces serve specific niches or customer segments in Canada.

Well.ca

Focus: Health, beauty, baby products, natural/organic items.

Audience: Health-conscious Canadians, parents, and natural products enthusiasts.

Why It Matters: Strong reputation for authentic products, excellent customer service. If you’re selling supplements, natural beauty, or organic food, consider it.

Etsy.ca

Focus: Handmade, vintage, craft supplies, unique goods.

Audience: Canadians seeking handcrafted, personalised, or vintage items.

Why It Matters: If your products are handmade, artisanal, or have a craft/heritage story, Etsy’s audience aligns perfectly. Lower barriers to entry than other platforms.

Best Buy Marketplace (Best Buy Canada)

Focus: Electronics, tech accessories, smart home devices.

Audience: Tech buyers, gadget enthusiasts.

Why It Matters: If selling electronics or tech accessories, Best Buy’s brand gives instant credibility. Competitive but worth considering for the right products.

Indigo (Chapters Indigo)

Focus: Books, gifts, home decor, toys, wellness products.

Audience: Canadian book lovers, gift shoppers, and home decor enthusiasts.

Why It Matters: Strong Canadian brand with loyal customer base.

Canadian Tire Marketplace

Focus: Automotive, hardware, sports, home, seasonal.

Audience: DIYers, car owners, sports enthusiasts, homeowners.

Why It Matters: Great for automotive products, tools, sports equipment, and outdoor gear.

Most Indian brands won’t need these niche marketplaces initially. Focus on Amazon and/or Shopify first. Add niche platforms once you’re established and looking to diversify.

Social Commerce in Canada

Canadians increasingly buy directly through social media platforms.

1. Facebook/Instagram Shopping

Set up Facebook/Instagram shops to tag products in posts and stories. Customers can browse and buy without leaving the app. It works well for visually appealing products (fashion, beauty, home decor, food).

Requires product catalogue (easily synced from Shopify). Once set up, reduces friction for impulse purchases.

2. TikTok Shopping

A relatively new but fast-growing channel in Canada, especially among Gen Z and younger Millennials. Products that are visually appealing, easy to demonstrate, or have strong viral potential tend to perform best on the platform.

TikTok Shop enables users to purchase directly within the app. While features are still being rolled out in Canada, it’s a channel worth keeping on your radar.

3. Pinterest Shopping

Canadians use Pinterest for inspiration (recipes, fashion, home decor, crafts). Product pins allow direct shopping from Pinterest boards.

Best for visually appealing products where people are already searching for ideas and inspiration.

Building a Multi-Channel Strategy

Most successful brands don’t rely on a single channel. They build presence across multiple platforms to reduce risk and maximise reach.

When you’re in the early stage (First 6 months)

• Amazon.ca for immediate sales and market validation

• Basic social media presence (Instagram/Facebook) to build brand awareness

When you’re in the growth stage (6-18 months)

• Amazon.ca as primary revenue driver

• Launch a Shopify store to own customer relationships

• Active social media with regular content

• Email marketing to Amazon customers (if possible, through inserts) and Shopify customers

• Test paid advertising on Facebook/Google

When you’re in the mature stage (18+ months)

• Diversified revenue across Amazon (40-50%), own D2C site (30-40%), other channels (10-20%)

• Strong organic traffic through SEO and social

• Robust email marketing driving repeat purchases

• Possibly expand to Walmart, niche marketplaces, or B2B partnerships

• Consider retail partnerships with Canadian stores

Final Thoughts

Platforms help you reach customers, but they don’t build the business- your product, brand, and customer experience do.

Start with the platforms that give you the fastest path to traction, learn what Canadian consumers respond to, and refine your approach as you grow. Over time, focus on building stronger brand relationships and diversifying your channels to reduce dependence on any single platform.

Launch, learn, optimise, repeat- that’s how most successful brands break into the Canadian e-commerce market.

Related Articles

Traction is one of the most important signals founders present to investors, partners, and early customers. It answers a simple question: Is the market validating what you’re building?

But traction does not look the same for every startup.

A B2B SaaS company selling to enterprises shows traction very differently from a D2C brand selling skincare online. And AI startups today often demonstrate traction through usage, models, and integrations, not just revenue.

This article explores how traction is measured across B2B, D2C, and AI startups, and which signals investors actually look for in each category.

What Traction Really Means?

At its core, traction is evidence that the market wants what you’re building. It shows that customers are not just aware of the product, but are actively trying it, using it, and also paying for it. For early-stage startups, traction helps reduce uncertainty by demonstrating that the product is solving a real problem.

In most cases, investors evaluate traction through three broad signals:

1. Demand

Demand shows whether customers are discovering and trying the product. This can appear as user signups, product trials, demo requests, waitlists, or early sales.

2. Retention

Retention measures whether customers continue using the product after the initial experience.

3. Revenue or Value Creation

Revenue is often the most direct signal of traction. When customers are willing to pay, upgrade, or use, it demonstrates real economic value.

Traction can look very different depending on the type of startup- B2B, D2C, or AI- so let’s take a closer look at how it shows up in each case.

Traction for B2B Startups

B2B startups typically sell to companies, which means longer sales cycles but higher contract values. Because of this, traction often focuses on revenue predictability and customer relationships.

1. Monthly Recurring Revenue (MRR)

MRR is the most common metric for SaaS traction. Typical benchmarks investors often look for:

• Pre-seed: $5k–$20k MRR

• Seed: $20k–$100k MRR

• Series A: $100k+ MRR

Even small MRR numbers can signal traction if growth is consistent.

2. Sales Pipeline

If revenue is early, founders often show:

• Qualified pipeline value

• Number of active pilots

• Conversion rate from demo → deal

3. Retention and Expansion

For B2B startups, retention and expansion are among the strongest indicators of traction. One key metric for measuring this is Net Revenue Retention (NRR). NRR tracks how revenue from existing customers changes over time, including upgrades, additional seats, or expanded product usage.

Typical benchmarks include:

• NRR above 100% - existing customers are expanding usage, meaning expansion revenue offsets any churn.

• NRR above 120% - a strong signal of product value, where customers are significantly increasing their spending over time.

A high NRR suggests that the product is becoming more valuable as customers continue to use it, which is a powerful indicator of product-market fit and long-term growth potential.

4. Usage Inside Accounts

Investors often look closely at product usage within customer accounts to determine whether the product delivers consistent value across teams or departments. Common usage metrics include:

• Active seats – the number of users actively using the product within a company

• Feature adoption – how many customers are using key or advanced features

• Daily active users per account – how frequently teams interact with the product

Traction for D2C Startups

For D2C startups, traction is primarily reflected through consumer demand, repeat purchasing behaviour, and sustainable unit economics.

Several metrics help demonstrate traction in D2C businesses:

1. Revenue Growth

Revenue is one of the most visible indicators of traction in consumer businesses. Investors often track monthly revenue growth and sales momentum to understand whether the brand is gaining market acceptance.

Key indicators include:

• Monthly revenue or GMV growth

• Number of orders

• Average order value (AOV)

2. Customer Acquisition Efficiency

Customer acquisition efficiency helps determine whether growth is sustainable or dependent on expensive marketing.

Important metrics include:

• Customer Acquisition Cost (CAC)

• Lifetime Value (LTV)

• CAC payback period

A healthy business typically shows an LTV/CAC ratio above 3, meaning the revenue generated from a customer significantly exceeds the cost of acquiring them.

3. Repeat Purchase Rate

Repeat purchases are one of the strongest indicators of product-market fit in D2C businesses. When customers come back to buy again, it signals satisfaction with the product and growing brand loyalty.

Typical metrics include:

• Percentage of returning customers

• Purchase frequency

• Customer lifetime value

4. Organic Demand and Brand Pull

Another strong traction signal is when customers discover the brand without relying entirely on paid marketing. Organic demand suggests that the brand is gaining recognition and word-of-mouth momentum.

Examples of organic traction include:

• Direct website traffic

• Social media engagement

• Influencer mentions and user-generated content

• Referral-driven purchases

Traction for AI Startups

AI startups often demonstrate traction differently from traditional software or consumer businesses. In many cases, product adoption and usage grow much faster than revenue in the early stages.

As a result, investors frequently evaluate traction through signals such as user engagement, workflow integration, and developer adoption, rather than relying solely on revenue.

Some of the most important traction signals for AI startups include:

1. User Growth and Engagement

User adoption is often the first indicator that an AI product is gaining traction. Investors look for evidence that people are actively interacting with the product and using it regularly.

Key metrics may include:

• Daily active users (DAU)

• Monthly active users (MAU)

• Number of prompts, queries, or tasks completed

2. API Usage and Developer Adoption

For AI infrastructure and platform startups, traction is often measured through developer adoption. When developers build products using an AI platform, it indicates strong demand and ecosystem growth.

Relevant metrics include:

• Number of developers using the API

• API calls per day or month

• Number of applications built on the platform

3. Workflow Integration

The strongest AI products become embedded in daily workflows. When teams rely on AI tools to automate tasks or improve productivity, the product becomes difficult to replace.

Some examples of workflow integration include:

• Customer support teams use AI tools to draft or resolve support tickets automatically.

• Marketing teams use AI to generate content, campaign ideas, or analyse performance data.

• Engineering teams rely on AI copilots to write, review, or debug code.

• Sales teams use AI to summarise calls, draft outreach emails, and automatically update CRM notes.

• Product teams use AI to analyse user feedback and identify feature insights.

4. Model Performance and Efficiency

AI startups can also demonstrate traction through improvements in model performance and efficiency. These technical advancements often translate into better user experiences and lower operating costs.

Important indicators may include:

• Improved accuracy or output quality

• Faster inference speeds

• Lower cost per query or task

Strong performance improvements can help a startup stand out and stay competitive as the market grows.

Traction Metrics Comparison: B2B vs D2C vs AI Startups

Final Thoughts

While traction can look different for B2B, D2C, and AI startups, the core signal remains the same: the market is responding. It could show up as growing recurring revenue, increasing repeat purchases, or rapid user adoption. Still, each of these signals tells the same story: people are finding real value in the product.

The most compelling traction stories are usually simple. Instead of presenting dozens of numbers, the goal is to highlight a few meaningful metrics that clearly show progress over time. What starts as a few users or early sales gradually turns into steady adoption, repeat customers, and predictable growth.

That’s when traction becomes more than just a metric on a slide. It becomes the story of a startup proving that its idea works in the real world.

At Razorpay Rize, we get it- building a startup is tough. That’s why we’re more than just a space for connecting with other founders. We’ve got programs, tools, and services designed to take some of the weight off the shoulders and make the journey just a little bit easier.

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Jay and Ojasvika founded Shram to build technology that feels human. Frustrated by complex, engineer-first tools, they set out to create a product that reduces friction and works the way people naturally think.

Shram is an AI-powered work companion built to help you focus on meaningful work instead of managing endless tasks. It automatically detects what needs attention, surfaces important actions, and handles repetitive, low-value work in the background.

Jay and Ojasvika were architects first. They spent their days designing homes, experimenting with parametric models, and slowly teaching themselves how to write small algorithms to make their ideas buildable. They weren’t trained software engineers; they were just curious enough to figure things out.

Somewhere along the way, a simple thought stuck with them: If we can teach ourselves to design through code, can we also build software that people actually want to use?

That quiet question- half doubt, half ambition- eventually became Shram.

When Architects Decide to Build Software

While still running his architecture firm, Jay began working on Shram in 2020. It started as an obsession- late nights, prototypes, endless conversations. Ojasvika joined him fully around 2022–23.

At the heart of it was a frustration: Most tools built by engineers don’t speak to non-engineers. They’re efficient, but not always intuitive. Logical, but not always human.

Ojasvika often says:

“For us, it’s always been a no-sayer to design something beautifully in 3D and let it translate poorly into a 2D experience.”

As non-technical founders, they faced a choice:

• Build a layer that might get disrupted in 5–10 years

• Or become the disruptors themselves

They chose the more challenging path. They didn’t speak the language of code fluently. But they knew how things should flow. How friction feels. How humans respond! So, they decided to flip their biggest weakness into their greatest strength.

The Bootstrapped Years

They bootstrapped Shram for three long years - no safety net, no guarantees, and plenty of nights filled with second-guessing. When their first MVP launched in August 2023, it didn’t land. In their own words, it sucked. But instead of walking away, they paid attention. They watched where users struggled, asked uncomfortable questions, and went back to the drawing board. Then they rebuilt. And rebuilt again.

By 2025, they made the painful but necessary decision to pivot from Shram.io to Shram.ai- letting go of three years of effort to make room for something sharper and more honest. It hurt, but growth often does.

The Hardest Decisions

There were two moments that nearly broke them.

1. Firing Their CTO

The first was firing their CTO- right before signing a term sheet. The timing couldn’t have been worse. But deep down, they felt something wasn’t aligned. He lacked what they describe as “the courage of an entrepreneur”- the ownership, the hunger, the resilience required at that stage. And they understood a hard truth: a misaligned CTO would damage the company far more than losing a funding deal ever could.

So they chose integrity over security. They were willing to risk the term sheet to protect the culture. That decision quietly set the standard for how they would build the company going forward.

2. The Pivot

The second was pivoting after three years of relentless effort. Three years of bootstrapping, countless late nights and personal sacrifices. Letting go of that version of Shram was emotional. But they could see a bigger opportunity ahead, and staying attached to sunk costs would only slow them down.

That’s when they learned something important: Flexibility is survival.

Funding, Family & Validation

Bootstrapping wasn’t glamorous. It meant watching every expense, delaying personal plans, and constantly choosing the company over comfort. But deep down, they felt unready. They once had the chance to raise funding from OpeCha, and they said no.

Coming from non-technical and non-entrepreneurial backgrounds, they knew there were gaps- in understanding, in conviction, in clarity.

For Jay, fundraising was deeply personal. His parents had never really believed this would work. To them, it felt risky, unstable, unrealistic. Every year without visible “success” quietly reinforced their doubts. So when investors backed him, it was proof.

For Ojasvika, the journey with family was more layered. In the beginning, there was excitement- pride in building something of her own. But bootstrapping slowly introduced tension.

Entrepreneurship is often romanticised as a founder’s solo battle. But in reality, families absorb the pressure too. They sit through the uncertainty. They manage their own fears. They adjust expectations.

And when things finally begin to move, the relief is shared.

How They Survive the Highs and Lows

They’ve learned something most founders don’t say loudly enough: “The best days are rare.”

So they celebrate small wins.

• A feature shipped? Celebrate.

• A thoughtful user feedback? Celebrate.

• A tiny breakthrough? Celebrate.

They have a phrase they often repeat to each other: “We build extensively. Then we trim the fat.” It reflects how they think about everything- not just the product. They tend to explore widely at first, test multiple ideas, and stretch the boundaries of what something could be. And then comes the more challenging part: cutting.

Distilling the idea until only what truly matters remains. It’s not always comfortable, letting go rarely is, but the end result is always clearer and leaner.

Who They Are as Founders

As founders, their roles are clearly defined.

Ojasvika leads design. She obsesses over emotion, experience, and the tiny details most people overlook. Jay focuses more on tech and systems. He thinks in structures- how things connect, scale, and sustain over time.

Growth, however, is never owned by just one of them. It’s collaborative. And today, they’re backed by a strong technical team that fills the gaps they once struggled with. They’re honest about what they don’t know and intentional about surrounding themselves with people who do.

They may not speak computer language fluently. But they understand humans deeply. And for the kind of product they’re building, that might matter even more.

The Books That Shaped Them

The way they think about building isn’t accidental. A lot of it has been shaped by what they read and, more importantly, what they internalise.

For Ojasvika, Unreasonable Hospitality has been a quiet guide. On the surface, it’s a book about restaurants and service. But for her, it’s about designing for humans. Her second favourite, Sophie’s World, shaped a different muscle- curiosity. It walks through the origins of philosophy, constantly asking why.

Jay resonates deeply with On the Origin of Species. The idea that survival belongs not to the strongest, but to the most adaptable, has become almost a personal philosophy.

If you look at their journey- the failed MVPs, the CTO decision, the pivot from Shram.io to Shram.ai- you can see those influences clearly.

The Bigger Dream

They’re now building auto task detection- something they’ve been quietly obsessing over for months.

For two founders who care deeply about experience, this feels like coming full circle. A more intelligent, more intuitive system- one that works in the background instead of demanding attention. One that feels almost invisible.

They’re planning a public launch soon!

If not this, then what…

Ask them what they’d do if Shram didn’t exist, and the answer is immediate: there is no “if not this.” Shram is a stepping stone toward something bigger- what they call Modularity, a vision for building new-age cities from the ground up.

The logic is simple. Sixty per cent of cities are residential. People spend half their lives at home. By 2050, over 300 million Indians will migrate to cities that aren’t built for them. Jay and Ojasvika believe every building should behave like a tree in a forest- part of a living system, not just a structure on land. That requires an entirely new building system, not just better architecture.

Shram is teaching them how to build technology companies. Modularity is where they plan to take that knowledge next.

What wouldn’t change is this: They would still be building!

What stands out about Jay and Ojasvika isn’t just that they built Shram- it’s how they built it. Coming from non-technical backgrounds, they stepped into a deeply technical world with humility, curiosity, and relentless persistence.

At heart, they are designers of systems- whether that system is a building, a product, or a company.

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In 2026, exporters are navigating a world shaped by supply-chain realignments, stricter compliance expectations, and cautious global demand. In this environment, Canada stands out as a stable, high-trust, and importer-friendly market, especially for businesses looking to diversify beyond saturated or volatile geographies.

This guide breaks down why Canada matters now, what makes it attractive in 2026, and how exporters can evaluate if it’s the right market for their next phase of growth.

Why Canada as a Market?

Canada has a GDP of over $2 trillion and 40 million people with significant purchasing power. The average household income sits around CAD 70,000, and Canadians are among the world’s most enthusiastic online shoppers.

But here’s what makes it interesting: Canada is genuinely multicultural. Over 20% of the population is foreign-born, with significant hubs in Toronto, Vancouver, and Montreal hosting massive South Asian, Chinese, Middle Eastern, and European communities.

That dal makhani mix you perfected for Indian palates? There are 1.8 million people of Indian origin in Canada who might be craving it. A productivity app built for remote work? Canada’s tech workforce of 900,000+ professionals is your target audience. You get to test your product with diaspora communities while also reaching a broader North American consumer base.

India and Canada have been strengthening trade ties consistently. Bilateral trade reached $8.16 billion in 2022-23, with key export categories including:

• Pharmaceutical products: $589 million

• Organic chemicals: $287 million

• Apparel and clothing: $231 million

• Iron and steel articles: $168 million

• Electrical machinery: $145 million

For Indian brands, this means entering a market with established trade channels and cultural familiarity, rather than starting from zero.

Need more convincing? Here are the practical reasons Canada works.

1. A Genuinely Welcoming Business Environment

Canada actively wants international businesses. The government offers startup visa programs, and provinces compete to attract foreign investment with their own incentive packages.

Setting up in Canada is refreshingly straightforward. Federal incorporation is completed in days, not months, and provincial registrations typically take just about a week. Banking processes are structured, transparent, and professional.

Canada’s legal environment is equally reassuring. The system is predictable, contracts are reliably enforceable, and intellectual property protections are robust.

2. Geographic Proximity to the US Market

Here’s the tactical advantage: Canada shares the world’s longest undefended border with the United States. Most of Canada’s population lives within 100 miles of that border.

A flight from Toronto to New York takes 1 hour. Vancouver to Seattle is a three-hour drive. Montreal to Boston is closer than Mumbai to Delhi.

This proximity means you can serve both markets from the same logistics infrastructure. Warehouses in Toronto or Vancouver can reach major US cities faster than shipping from many American locations. You’re essentially getting a two-for-one market opportunity.

3. Test Before You Scale

The US market is massive, which sounds great until you realise that massive also means expensive, complex, and unforgiving. One misstep in positioning, one regulatory miss, and you’ve burned through your budget.

Canada gives you room to learn. The market is sophisticated enough to provide honest feedback, but small enough that mistakes don’t cost everything. You can test pricing strategies, refine messaging, and understand North American consumer behaviour without betting the entire company.

Building Your Business Case

Market Size vs Strategic Position

Canada’s domestic economy is the 9th largest in the world. But the real play isn’t just serving 40 million Canadians. It’s using Canada as your base to access the entire North American market of 500+ million consumers.

CUSMA (the updated NAFTA) creates a free trade zone spanning Canada, the US, and Mexico. Establish your presence in Canada, prove your model works, and you’ve got a credible platform for expansion across the continent.

The Competition

Canadian consumers have high standards. They’ve been exposed to global brands their entire lives. Your product needs to actually deliver, not just look good in marketing materials.

But that’s precisely why Canada works as a proving ground. If your product can compete here against international brands, you know it’s genuinely ready for global markets. The feedback loop is fast, the consumer expectations are clear, and the market tells you quickly whether you’ve built something people want.

Premium pricing is absolutely possible if your value proposition is solid. Canadians will pay for quality, sustainability, and innovation.

The Canada Market Checklist

Before you start planning your Toronto office, here’s what actually matters.

1. Choose Your Business Structure

• Federal Corporation: Operates anywhere in Canada, is recognised nationally, and has more credibility with banks and investors.

  (CAD 200 online, CAD 250 by mail)

• Provincial Corporation: Lower initial costs, simpler for single-province operations, but requires extra-provincial registration to expand.

  (CAD 300 in Ontario, varies by province)

• Branch Office: Maintain your Indian entity, establish a Canadian presence, but profits are taxed in both countries.

2. Get Your Regulatory Licenses & Permits

• Health Canada: For food, cosmetics, natural health products, and medical devices.

• Canadian Food Inspection Agency (CFIA): For food safety and labelling compliance.

• Innovation, Science and Economic Development Canada (ISED): For electronics and telecommunications equipment.

3. Set Up the Labelling Requirements

• Bilingual labelling (English and French) is mandatory for consumer products.

• Nutritional facts, ingredient lists, and allergen information must follow Canadian formatting standards.

• Country of origin, importer details, and customer service contact required.

4. Set Up Financial Operations

• Open a Canadian business bank account (RBC, TD, Scotiabank are founder-friendly).

• Get a Business Number (BN) from the Canada Revenue Agency.

• Register for GST/HST if annual revenue exceeds CAD 30,000.

5. Build Distribution Channels

• Retail: Approach Loblaws, Metro, Sobeys for grocery, Canadian Tire for home/hardware, Indigo for lifestyle products.

• E-commerce: List on Amazon.ca, Walmart.ca, and consider Shopify (it’s Canadian, and the ecosystem is strong).

• Direct: Canadians are comfortable with DTC brands. Your own website can work if you’ve got the logistics figured out.

Get these fundamentals right, and Canada stops being theoretical and starts being your actual path into North America.

What’s Next?

The moral is- Build credibility in a market that rewards quality, learn from North American consumers in an environment that won’t drain your capital, and lay the groundwork so that a future US expansion feels natural.

Start with one product category. Pick one city as your beachhead.

• Toronto, if you want scale and diversity.

• Vancouver, if you’re targeting the West Coast and Asia-Pacific connections.

• Montreal, if you’ve got French language capabilities and want access to Quebec’s unique market.

Every quarter spent debating is a quarter where competitors may already be building distributor relationships, learning local nuances, and quietly setting themselves for broader North American growth.

If global expansion feels daunting, if the US market seems too large to tackle head-on, Canada could be the right starting point.

So, ready to think differently about North America? Start with one product, one province, one move. Canada could be that move!

Related Articles

At some point in the founder journey, almost everyone asks the same question: How much MRR do I really need to raise a seed round? You hear wildly different answers- ₹5 lakh, ₹10 lakh, ₹50 lakh- often from founders who raised in a completely different market, at a different time, with a very different business.

This article breaks down seed-stage MRR expectations by business model, growth quality, and founder context, so you can benchmark yourself realistically and fundraise whenever you’re ready.

Before we talk about how much MRR is needed to raise a seed round, it’s essential to first understand what MRR actually is and why it matters so much to investors at the early stage.

TL;DR- Quick rules of thumb

• Pre-seed / angel: You can raise with little or no MRR if growth, users, and strong founders are present, but $0–$5k MRR & fast user growth are common.

• Seed (typical benchmark): Many VCs expect $10k–$100k in MRR, depending on business model and geography; for SaaS, the common range founders cite is $25k–$200k in MRR to be comfortably fundable.

• For enterprise / long sales-cycle B2B: Lower MRR (even <$10k) can be decent if you have big, repeatable contracts or strong pilot commitments.

• Consumer/marketplace: Investors focus more on DAUs/growth/retention than pure MRR; fundraising can happen at lower revenue but with big user metrics.

What Is MRR (Monthly Recurring Revenue)?

MRR (Monthly Recurring Revenue) is the predictable revenue a business earns every month from recurring payments. It includes subscription fees and other contracted recurring charges, but excludes one-time payments, setup fees, and irregular income.

In simple terms, MRR tells you how much revenue you can reliably expect each month if nothing changes.

Example

If:

• 10 customers pay ₹5,000 per month

• 20 customers pay ₹2,000 per month

Your MRR is:
(10 × ₹5,000) + (20 × ₹2,000) = ₹90,000 MRR

That ₹90,000 is your baseline monthly revenue, before new sales, churn, or upgrades.

Why MRR Matters for Seed Funding?

Investors aren’t expecting meaningful revenue at the seed stage; they’re trying to understand whether the business is real, repeatable, and moving in the right direction. MRR becomes a shorthand for belief.

When investors look at early MRR, they’re really using it to answer three underlying questions:

• Do customers care enough to pay? (Problem validity)

• Can this revenue repeat predictably? (Business model viability)

• Is there early momentum? (Growth trajectory)

This is why a startup with relatively modest MRR but strong month-over-month growth, high retention, and clear customer pull can appear far more fundable than one with higher revenue but weak fundamentals.

Typical Seed MRR Benchmarks

Key takeaway: Seed rounds happen across a wide MRR spectrum. Context matters more than the number. Seed rounds usually range $0.5–3M; MRR expectations are sector-sensitive (AI/niche B2B can command lower MRR if product-market fit and pilot revenue exist).

How Investors Evaluate MRR at the Seed Stage?

Investors roughly evaluate these things together while considering MRR:

1. Growth rate (MRR MoM): Fast growth (10–20%+ MoM) can offset lower absolute MRR. Slow growth with high MRR = less attractive.

2. Retention/churn: Low churn (esp. negative net churn via expansion) multiplies the value of current MRR.

3. Unit economics: CAC payback < 12 months (a common target for SaaS), and a reasonably positive LTV: CAC make a modest MRR look investable.

4. Sales pipeline/enterprise deals: A few large, committed pilots/LOIs can replace thousands in MRR on the books.

5. Team & signal: Founder experience, distribution advantages, and prior exits can lower the MRR bar.

Can You Raise Seed With Zero or Very Low MRR?

Yes, but only if you can replace revenue with other strong belief signals. When MRR is low or absent, investors look harder at everything else. Here’s how founders still raise seed with zero or very low MRR:

• Strong founder–market fit

• Clear product adoption

• Credible proof of future revenue

• Large, obvious market with urgent pain

• Exceptional clarity on GTM and pricing

For most first-time founders, however, even ₹2–5 lakh in clean, recurring MRR dramatically improves seed readiness. Known revenue, however small, proves willingness to pay and often shortens the fundraising cycle.

How to Decide Your Seed Round Size?

Below is a deeper, operator-level breakdown of the two most credible ways to size a seed round, plus how VCs actually sanity-check your numbers.

1. Milestone-based sizing

This approach answers one question:

What will the company look like in 12–18 months that makes Series A inevitable?

Step 1: Define the Series-A-ready milestone

Common Series A milestones by model:

• B2B SaaS (SMB):

  • $150k–$300k MRR

  • Consistent 8–12% MoM growth

  • Predictable CAC payback (<12 months)

• B2B Enterprise:

  • $1–3M ARR or

  • 8–15 large customers with repeatable sales motion

• Consumer / Marketplace:

  • Strong retention curves

  • Clear path to monetisation (not necessarily high revenue yet)

Step 2: Map the team required to hit that milestone

Example monthly burn math (simple):

• Team: $80k

• Infra/tools/SaaS: $10k

• Marketing/experiments: $15k

• Buffer / misc: $10k

Monthly burn: ~$115k

Step 3: Multiply by runway (12–18 months)

Monthly Burn $115k × 15 months ≈ $1.7M

This becomes your base raise size.

2. Rule-of-thumb dilution method

This approach starts from ownership instead of burn.

Step 1: Estimate a justifiable post-money valuation

Sample ranges (rough estimate):

• $10–15M post: early traction, high risk

• $15–25M post: solid seed-ready company

• $25M+ post: breakout signal + competition

Step 2: Apply dilution math

A well-sized seed round gives you 12–18 months to eliminate key risks, hit a clear milestone, and make the next round feel inevitable, without over-diluting or over-raising.

Quick Checklist Before You Start Raising Seed

• 6–12 month MRR trend chart ready

• Cohort retention and churn numbers on hand

• CAC / payback and unit economics modelled

• Top customer case studies/pilots / LOIs documented

• Clear milestones and 12–18 month runway plan

India-Specific Checklist: How Seed Investors Think in India?

Seed investors in India tend to evaluate early-stage startups through a more pragmatic lens. While vision and market size matter, there is a strong emphasis on how responsibly the business is being built. This directly shapes how MRR is interpreted at the seed stage.

• Capital efficiency: Indian seed investors pay close attention to how much progress a startup has made relative to the capital consumed. Even reaching ₹5–10 lakh in MRR with a lean team and a controlled burn often signals strong execution.

• Clear path to sustainability: Investors typically like to see a credible path to break-even at ₹1–1.5 crore ARR, especially for SaaS and fintech platforms. Even if profitability is 12–18 months away, founders who can articulate how margins improve with scale are viewed more favourably.

• Revenue discipline: Seed investors in India are wary of MRR inflated through heavy discounts or incentives. Clean revenue- i.e. customers paying close to list price, churn under 5–7% monthly for SMB SaaS, and steady 8–12% MoM growth- often carries more weight than higher but unstable topline numbers.

Ultimately, in India, MRR tells investors whether founders respect capital, understand their economics, and are building something that can last beyond the next funding round.

Final Thoughts

There is no single MRR number that magically unlocks a seed round. At this stage, investors aren’t looking for scale; they’re looking for conviction. MRR is simply one of the clearest ways to build that conviction, because it shows real customers paying for a real problem in a way that can be repeated.

Clean revenue, consistent growth, strong retention, and a clear path forward often matter more than hitting an arbitrary benchmark.

If you’re thinking about raising seed, stop asking whether your MRR is “enough” in isolation. Ask whether your current traction clearly points to a much bigger outcome and whether seed capital will meaningfully accelerate that trajectory. When the answer to that is clear, the MRR conversation becomes a lot easier.

At Razorpay Rize, we get it- building a startup is tough. That’s why we’re more than just a space for connecting with other founders. We’ve got programs, tools, and services designed to take some of the weight off the shoulders and make the journey just a little bit easier.

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Aaditya Aanand is a founder whose journey began far from startup hubs and pitch rooms, in a tier-3 town in Bihar. Shaped by responsibility from an early age, Aaditya took the long road- building deep experience in finance and technology before choosing to make something of his own.

Today, through Multibagg AI, he’s working to simplify how everyday Indians discover, research, and track companies, bringing institutional-grade thinking to retail investors.

Where I Come From

I always wanted to build something of my own. That desire was there from a very young age. But entrepreneurship is a luxury, and for a long time, I couldn’t afford it.

I come from a small town called Munger, about 180 kilometres from Patna, Bihar. It’s not the kind of place where you grow up hearing about startups or venture capital. You grow up learning responsibility early. You learn to be careful & grateful.

My family background has shaped a lot of who I am. My grandfather lost his entire family during the plague. My father carried heavy financial debt for most of his life. There were days growing up when food itself felt uncertain. When that’s your reality, emotions don’t come first- survival does.

The Turning Point

Coming from a small town, exposure was limited. I didn’t always know what was possible or what path to take. My elder brother played a considerable role here. He studied in a government school and didn’t go to IIT, but he made sure every question I had was answered.

I was part of the Super 30 batch. I still remember the day Anand Sir checked my roll number and said, “Aapka IIT mein ho gaya.” That one sentence changed my life.

Getting into IIT Kanpur was a signal. A signal that maybe I could be the person who changes the direction of my generation. I graduated from IIT Kanpur in 2018. Like many people from similar backgrounds, I didn’t jump into entrepreneurship right away. I had loans, responsibilities, and family expectations. Even a high-paying job doesn’t remove fear when people depend on you.

I worked at American Express and Goldman Sachs. Those years taught me how institutional finance really works- how decisions are made, how risk is measured, and how powerful good tools can be.

Why I Started Multibagg

India has never been an equity-mature market. Traditionally, we invested in gold, real estate, and fixed deposits. But after COVID, something shifted.

Today, nearly 12 crore Indians invest in equities, and SEBI expects that number to grow to 25 crore by 2030. But there is a problem! Retail investors are entering the market with limited tools, fragmented information, and heavy dependence on RAs or RIAs.That gap bothered me.

I wanted to build an institutional-grade investing tool that was modern, AI-native, easy to use, and still affordable. That’s how Multibagg AI came to life.

Starting Alone and Staying the Course

I started alone. For a short time, a childhood friend joined me, but the startup journey is long and overwhelming, and it’s not meant for everyone. It didn’t work out, and that’s okay.

I bootstrapped the first version with about 5–10 lakhs from my own savings and built the prototype. I spoke to VCs early and realised that prototypes don’t get funded- traction does. So I raised a friends-and-family round of around 65 lakhs, which gave me the runway to build correctly. Later, we raised from AJVC and now, Shark Tank India.

Somewhere along this journey, I also got married. My wife doesn’t hold a formal role in the company, but she’s been my constant support through every phase. She’s also the one who came up with the name Multibagg. In many ways, this company exists because she believed in me, during those uncertain times.

The Hardest Part of Building

One of the most complex parts of building has been learning to say no. There are always tempting opportunities, some very lucrative, but not everything aligns with your long-term vision.

Saying no is uncomfortable, especially when you’re still building.

But what helps are some moments that validate your vision, your dream! One moment that really stayed with me happened in early 2025. I got a Razorpay notification saying someone had bought our annual subscription for 5,000 rupees. It wasn’t a friend or family member. It was a stranger.

That was the day Multibagg truly became a business for me, when someone I didn’t know trusted our product enough to pay for it.

Good Days, Bad Days, and How I Stay Grounded

I’m not an emotionally expressive person. I’m never extremely happy or extremely sad. Maybe that comes from my childhood, when survival mattered more than celebration.

I believe deeply in God. I read a lot- both fiction and non-fiction. Right now, I’m reading Principles by Ray Dalio. Some of my favourite books are Crime and Punishment and Changing World Order. Reading helps me stay grounded when things get noisy.

Advice For First-Time Founders

If there’s one thing this journey has taught me, it’s that progress rarely comes from big, dramatic moments. It comes from showing up-quietly, repeatedly, and often without any immediate reward. 80% of winning is simply being present every single day, even when nothing seems to be working.

Discipline is what carries the work forward on days when confidence is low, energy is drained, and clarity feels distant.

Also, reduce your screen time. It helps more than people realise!

If Not This, Then What…

If I weren’t building Multibagg, I’d be writing.

I’m a very opinionated person, both politically and culturally, and I write every day. If not startups, I’d probably just read and write for the rest of my life. And, maybe that’s building something too.

What stands out most about Aaditya Aanand is the quiet seriousness with which he’s built his journey. Coming from a tier-3 town, he didn’t rush into entrepreneurship- he spent years learning, preparing, and understanding the problem deeply before choosing to build.

It’s the kind of story that reminds us that not all founders start with a leap; some start by showing up every day, and that’s just as powerful for the Razorpay Rize community.

Dive into Vault today & unlock a world of possibilities. 

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Hey Everyone! ✨

January at Rize was packed with launches, learnings, and meaningful founder conversations- both online and offline. We spent the month listening closely to early-stage founders, understanding their biggest blockers, and building tools that reduce friction at every step of the journey.

This recap brings together the highlights that shaped our start to the year.

MILESTONE MOMENTS 👑

First things first, let’s celebrate some victories! We've witnessed some jaw-dropping milestones within our community, and we can’t wait to share them with you.

Celebrating…

A big congratulations to these founders! Each step forward is a victory on the path to success. So, keep pushing and growing!

ARTICLES OF THE MONTH 📜

Missed our articles last month? Check the top ones that fuelled our Founders!

✍️ How to Calculate Your Startup’s Valuation? (Fundraising)

✍️ How Performance Marketing Works for D2C Brands (2026 Guide) (Marketing)

Discover more such insightful reads in the Vault! The collection is growing every day.

Vault by Razorpay Rize

Thoughts from a thriving community of founders and entrepreneurs to fuel innovation, learn from each other's journeys, and Rize together.

STORIES FROM RIZE-PRENEURS 📎

This month, we spotlighted Dr Surabhi Jaju, a founder proving that meaningful brands can be built far beyond metro cities. Based in Satara, Maharashtra, Surabhi leads Rustic Art, an organic personal and home care brand grounded in sustainable manufacturing and conscious consumption.

KEY HIGHLIGHTS THIS MONTH💡

New initiatives, exciting launches, and everything you need to stay ahead.

✨AI YC Reviewer- New Launch✨

Ever wondered how a YC partner might read your application? We built the AI YC Reviewer to give founders an early, honest review of their answers- highlighting gaps, sharpening clarity, and strengthening their overall story.

Powered by insights from YC alumni and 1000+ YC applications, the tool helps you pressure-test your application and apply with more confidence.

Get Review Now

✨Rize City Circle: Mumbai✨

Building can feel lonely until you’re in a room with founders facing the same challenges.

Our Mumbai City Circle gave us a closer look at how founders in D2C and retail are building today- balancing growth, margins, and distribution while navigating an evolving market. These conversations help us stay grounded in real founder needs.

MEET OUR NEWEST FOUNDERS: ONBOARDING EDITION 👥

Say hello to the latest group of founders joining the Rize Communities! They're full of bold ideas and big dreams, ready to take the startup world by storm.

Dive into Vault today & unlock a world of possibilities. 

Subscribe now