Biography of Sayali Karanjkar: Co-Founder of Paysense -Indian Entrepreneur, Investor
Biography of Sayali Karanjkar:
Sayali Karanjkar is a dynamic entrepreneur and angel
investor, renowned for her contributions to the fintech space. As the
Co-Founder of Paysense, she played a pivotal role in leading the company's
business, growth, and operations. Paysense's success led to its acquisition by
PayU for $185 million, and Sayali subsequently served as Chief Business Officer
of PayU Credit India, overseeing a seamless integration post-merger.
A Global Visionary with Deep Expertise
Sayali’s extensive career spans over 15 years in the US and
Singapore, where she crafted and executed strategies for prominent companies.
Her roles included significant positions with Sun Microsystems in Singapore,
AT&T in California, and AT Kearney in Chicago. Her global perspective and
strategic expertise have made her a sought-after mentor and advisor in fintech,
SaaS, and AI sectors across India, Southeast Asia, and the US.
Educational Excellence and Leadership
Sayali's academic journey reflects her commitment to
innovation and strategy. She earned an MBA from Northwestern University’s
Kellogg School of Management, where she majored in Design and Innovation.
During her time at Kellogg, she excelled in various roles, including leading
the India Business Conference and co-founding India Insight @ Kellogg. She also
completed a Master’s in Engineering Management from Northwestern and holds a
Bachelor’s degree in Computer Science from the National University of
Singapore.
Diverse Roles and Contributions
Beyond her role at PaySense, Sayali has made substantial
contributions in various capacities. She is an active angel investor and
advisor, supporting numerous startups including Kiwi, Scapia, and Hyperface.
Her involvement extends to being an Independent Director at CMS Info Systems,
where she contributes to corporate governance and business strategy for one of
India’s largest cash management companies. Additionally, Sayali serves on the
board of MobiKwik, a leading digital banking platform, where she helps steer
the company’s strategic direction.
Introducing PaySense: A Credit Revolution
PaySense was designed to address the credit accessibility
issues in India. It offers a transparent and convenient way to obtain credit
through its PaySense EMI service, which functions similarly to a personal loan.
Users can apply for credit both online and offline, making instant purchases of
up to Rs 5 lakh.
Funding Success and Growth
PaySense has successfully attracted substantial funding to
support its growth. The company secured $5.3 million in its Series A funding
round from Jungle Ventures. Later, in its Series B round, PaySense raised $18
million with participation from existing investors Jungle Ventures and Nexus
Venture Partners, highlighting the platform's strong market potential.
Sayli Karanjar’s Journey to Empowering Credit Access
Sayli Karanjar faced significant challenges in accessing
credit due to her lack of credit history. Recognizing the crucial role that
credit plays, she teamed up with co-founder Prashanth Ranganathan in early 2015
to address this issue. Their collaboration led to the creation of a solution
aimed at simplifying credit access.
Biography of Sayali Karanjkar: Co-Founder of Paysense -Indian Entrepreneur/ worked at MobiKwik/Angel invstor/Success story of Sayali Karanjkar/Paysense
Transforming Credit Access in India
PaySense’s mission is to make credit more accessible and
user-friendly in India. By offering a personalized line of credit and
addressing the complexities of traditional credit systems, PaySense is
transforming the financial landscape, enabling more people to access the credit
they need for their purchases and financial goals.
Board Member and Advisor
Currently, Sayali serves on the boards of CMS Info Systems
and Mobikwik, where she leverages her expertise to drive growth and innovation.
Her passion for building impactful businesses continues to guide her as she
invests in and advises multiple startups, shaping the future of fintech and
technology.
Strategic Insights and Investments
In her role as an angel investor and advisor, Sayali
Karanjkar has been instrumental in nurturing early-stage fintech and AI
ventures through Amara.vc. Her investments in companies such as Capchase and
Upswing reflect her commitment to supporting innovative solutions that drive
financial and technological advancements. Sayali’s strategic insights have not
only benefited individual startups but have also contributed to the broader
fintech ecosystem.
Advocating for Women’s Financial Empowerment
Sayali’s insights into finance, especially concerning women,
reflect her broader vision for financial empowerment. She notes that while some
women may willingly delegate financial responsibilities within a marriage, the
real issue arises when women are sidelined not by choice but due to a lack of
financial education or empowerment. She advocates for a collective effort to
educate and support women in managing finances, emphasizing the role of
parents, spouses, and the wider community in fostering financial independence.
Transition to Independent Directorships
In addition to her work with PaySense, Sayali Karanjkar has
taken on significant roles in corporate governance. Since 2022, she has served
as an Independent Non-Executive Director at CMS Info Systems Ltd., a leading
cash management company in India. Her appointment reflects her expertise in the
financial sector and her commitment to enhancing corporate governance
practices. Furthermore, she has been an Independent Director at One Mobikwik
Systems Ltd. since 2021, contributing her insights and experience to the digital
financial services company.
Expanding Influence and Leadership
Sayali's transition from founding and managing PaySense to
her roles as an Independent Director underscores her broad influence in the
financial and fintech sectors. Her involvement with CMS Info Systems and One
Mobikwik Systems highlights her ongoing commitment to advancing financial
technology and corporate governance. Her leadership extends beyond the
operational aspects of fintech, demonstrating her capacity to impact strategic
decision-making and oversight at a higher level.
Highs and Lows: Overcoming Challenges and Biases
Her journey has been marked by both highs and lows. Sayali
finds encouragement in inspiring other women and in breaking down gender biases
in the workplace. A memorable moment for her was when a male colleague
acknowledged how working with her helped him overcome personal biases about
working with women. Despite these positives, Sayali acknowledges that women
often face additional challenges, including overcoming assumptions and proving
their capabilities repeatedly.
Continuing Impact: Sayali Karanjkar's Legacy
Sayali Karanjkar’s story is not just about entrepreneurial
success but also about addressing systemic issues in credit access and
advocating for women's financial empowerment. Her work with PaySense and her
broader efforts as an angel investor and advisor continue to drive positive
change in the fintech industry and beyond.
Impact on the Financial Sector
Through her various roles, Sayali Karanjkar continues to
make significant contributions to the financial sector. Her work with PaySense
has already revolutionized access to credit in India, and her current positions
as an Independent Director enable her to influence and guide major financial
institutions. Her career trajectory showcases a blend of entrepreneurial spirit
and strategic oversight, positioning her as a key figure in shaping the future
of financial services.
Impact and Leadership
Sayali’s leadership extends beyond her direct roles in
companies. Her work has been influential in shaping the fintech landscape in
India and her contributions to corporate boards highlight her commitment to
high standards of governance and strategic growth. By blending her
entrepreneurial spirit with her strategic acumen, Sayali Karanjkar continues to
be a driving force in fintech and investment, making a lasting impact on the
industry and the broader business community.
Timeline of Sayali Karanjkar’s story
2005: Completed a Bachelor’s degree in Computer Science from
the National University of Singapore.
2007: Earned a Master’s in Engineering Management from
Northwestern University.
2008: Graduated with an MBA in Design and Innovation from
Northwestern University’s Kellogg School of Management.
2008-2010: Worked at Sun Microsystems in Singapore.
2010-2011: Held a position at AT&T in California.
2011-2012: Worked at AT Kearney in Chicago.
2015: Co-founded PaySense, a platform to simplify credit
access in India.
2017: PaySense was acquired by PayU for $185 million; Sayali
became Chief Business Officer of PayU Credit India.
2018: Joined the board of MobiKwik.
2020: PaySense raised $18 million in Series B funding.
2021: Became an Independent Director at One MobiKwik Systems
Ltd.
2022: Appointed as an Independent Non-Executive Director at
CMS Info Systems Ltd.
2023-Present: Continues as an angel investor and advisor for
fintech and tech startups.
