We love our friends, even the freeloaders. However, it is a bit awkward to remind the same folks to pay their share repeatedly. Bill splitting apps have tried to solve this in the past, but the reminder process still goes on, especially with the lazy ones.
This is where the folks at goDutch are going the extra mile. Not only is their app good at splitting bills, it even integrates with payments to settle them ASAP. No more nagging, problem solved.
We reached out to the goDutch team and they were all raring to tell us their journey.
How has been your journey from day-1 till now?
As soon as we had our Minimum Viable Product (MVP) ready, we ran it through actual users who gave us both valuable feedback on the product and conviction to take this forward. We started fundraising and were fortunate to get selected by Y Combinator, one of the world’s best accelerator and seed-funding program, and followed that up by raising a USD 1.7M seed funding round. Since then, we have built a core team and launched our product in July 2020. We have seen excellent traction driven primarily by early adopters discovering us through social media and sharing it and making it viral. Since people use this product with their friends and colleagues, it leverages network effects for quicker spread.
What unique skills do the founders bring to the startup?
The 3 of us, Riyaz, Sagar, and Anirudh, are passionate problem solvers and we complement each other with our diverse backgrounds.
Riyaz has worked as a product manager at InstaRem, a Fintech company, and brings in a rich understanding of both Technology and Product Management.
Sagar comes from a Venture Capital Investing background and chips in with Business Strategy knowledge as well as experience with startups from the other side of the table.
Aniruddh has worked with Axis Bank and comes with a hustler and robust growth mindset.
How is goDutch different from other bill share offerings?
goDutch is an end to end group expenses management app. The goDutch app allows users to seamlessly record expenses with friends (individual or group) and settle outstanding balances by initiating UPI payments to each other. We have also introduced a first of its kind goDutch card which enables instant group payments. It means that no one pays on behalf of the group but instead everyone is auto-debited their share.
Let’s say that 3 flatmates are ordering online grocery. Any one of them can pay using the goDutch card. Before paying, one of them has to go into the goDutch app, select the group, and mark the split details. After this, when they pay using the card, the share from group participants gets deducted immediately.
How do the customers make the best from your offerings?
Whenever our customers are thinking of managing their group activities, we want goDutch to be the default app they think about. Whether it be college students eating at their canteen, flatmates sharing living expenses, friends going out on trips, or office colleagues going out for drinks on a Friday evening – we want them to enjoy their group experiences and create amazing memories without stressing over how to manage the group expenses.
How do you ensure the security and privacy of user data?
The app log-in is based on the user’s mobile number and OTP verification which reduces the risk relative to static passwords. The goDutch card is issued in partnership with a reputed bank and we do not store any of the user’s credit/debit card info and those details lie with our payment gateway partner.
Which payment providers/banks does goDutch integrate natively with?
This virtual card is issued in partnership with CSB Bank. Users can get the free virtual card instantly by signing up on the app.
We use the Razorpay payment gateway to allow users to link their credit/debit cards.
How are you promoting diversity and inclusion at goDutch?
Our team has individuals from different parts of the country, and we honor passion & skills more than premium college tags. We firmly believe in gender diversity and have both males and females in our core team, which is uncommon for early-stage tech startups.
Home – https://www.godutchpay.in/
Founded – 2019
Category – Fintech
Funding – USD 1.7 Million as of Sep 9, 2020
Aniruddh Singh – linkedin.com/in/
Riyaz Khan – linkedin.com/in/
Sagar Sheth – linkedin.com/in/