Payments is a rapidly evolving sector that has seen many clutter-breaking innovations in the last few years. As newer payment methods continue to emerge especially in booming markets where the preference for newer formats such as BNPL (buy now pay later) scale rapidly, Inai believes the future has many more opportunities.
A full-stack payment integration provider, Inai offers payment solutions to companies playing in the sectors such as ecommerce, edtech, gaming, digital content and marketplace among others. Inai is a SaaS-based no code payment platform that enables businesses to manage their international payment stacks in less time. The startup works on a fixed subscription-based model with a variable transactional charge.
Building From Experiences
The founders of Inai previously ran an ecommerce business and faced significant challenges with payments as they expanded their presence across multiple countries. That’s when Inai came into being, driven by Anta Pattabiramn and Karthik Narayanan in March 2021.
The Inai technology helps businesses enter new markets and offers a digital experience that consumers increasingly demand. “By empowering non-engineers to operate complex global payment solutions, we’re unlocking a whole new world of entrepreneurial possibilities,” observes Inai’s Co-founder and CEO, Anta Pattabiramn.
The latest funding secured by the company was $4.25 million in a seed round. The company plans to utilise these funds to expand its portfolio, introduce new tech products and also to strengthen its team.
Learning on the Go
Inai focuses more on business-to-business payments. As merchants look for more efficient outcomes, it helps them connect to multiple payment partners. It also improves conversion and reduces costs that would be in high demand.
For most founders, the biggest challenge is finding a product-market fit, a reliable use case, an ideal customer persona, and a channel that can be leveraged at scale. “Don’t take too long to launch, it’s better to launch an imperfect product and learn from the market rather than hypothesise. Stay lean in the early stages until you can find a repeatable customer profile and a channel that helps you find that ideal customer,” advises Pattabiramn.
Inai’s long-term goal includes expanding across emerging markets starting with Southeast Asia. In the short-term, it aims to be the preferred partner for merchants expanding in this region.