The Startups Raising Money The Old-School Way
May 11, 2024
9,736
201
5
2.12%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Forbes Episodes Around May 11, 2024
See what was published immediately before and after this episode.
6:35Now PlayingThe Startups Raising Money The Old-School Way
YouTube Description
as posted by the channelFor five years, founders Srinivas Njay and Bruce Kim have been building interface.ai and its artificial intelligence powered virtual assistant that helps banking customers do everything from analyze their spending to fill out a mortgage application to open a new credit card. So far, they’ve signed up more than 100 credit unions and small community banks serving 16 million consumers—contracts worth tens of millions in annual revenue.
With AI in his company name and product, CEO Njay has been fielding a stream of calls from venture capitalists—more than 40 over the past several months, he estimates. He’s happy to talk, he says, because at some point, the right investor might help scale up growth. “I’m just dating,’’ Njay says. “We are in a good place, it's not like we need money.’’
That’s because Njay, 37, and CTO Kim, 59, have been able to get their company to this point with just $1 million of their own savings, a $3 million credit line from TMCC, an Indian credit union run by Njay’s father, careful cash and expense management—and crucially—internally generated revenue.
Interface.ai cofounder Srinivas Njay built a powerful virtual financial assistant with just $1 million in capital. The VCs are lining up—but like many self-funded entrepreneurs, he doesn't need them.
Read the full story on Forbes
Subscribe to FORBES
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
Stay Connected
Forbes newsletters
Forbes on Facebook
Forbes Video on Twitter
Forbes Video on Instagram
More From Forbes
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.