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Mute your banking worries with mewt !

Rishabh Jain (Pilani, ’14) and Kushal Prakash (Pilani, ’14) are the co-founders and the CEO and CTO of mewt, pronounced as ‘mute’. It modernizes business banking for Bharat, focusing on MSMEs, NBFCs, and large corporates, offering a digital alternative to traditional banking. It is a one-stop-banking destination for state-run banks, private banks, and neobanks. 

Please share the ideation and conceptualization of mewt.

We started with an explicit idea of solving MSME's credit problems. We built out a BNPL credit product and acquired a few customers. On deep diving and spending time with our customers - we realized that managing banking was a big hassle. Our customers were missing their EMIs and had multiple apps, checkbooks, and 4-5 sources of data. Our MSME customer didn't have any bandwidth to take care of any banking hassle or paperwork. We also knew that adding another neo-banking account would only add to the problem.

Thus, we built mewt, which is a banking super-app where you can aggregate all your bank accounts into one place, make super-fast transfers without the need of a UPI pin, and make aggregated transactions from 2 bank accounts.

We currently have 300,000 users on our platform and organically growing by 18% MoM

What makes mewt stand out from its competitors?

All our competitors are building out a neobank. They are giving their customers another cooler, fancier, and faster bank account.

Our thesis is the complete opposite - We don't want you to open another bank account that adds to your problem. We want you to download mewt and link your existing accounts to us. We will make your existing bank account cooler, fancier and faster.

The pronunciation of mewt is mute which resonates with being silent. How did you decide on such an interesting name?

Mewt sounds like mute, we even write the same in Hindi on our logo. The idea is to download mewt on your phone and mute all your business banking worries, just like muting all noise from a TV remote.

India is among the top 5 economies in the world today. How do you think would this affect the fintech market in the coming times?

India is a very promising space for fintech. We already see more than 20+ fintech unicorns and we feel it is the tip of the iceberg. India is a credit and banking-deprived nation. If we wish to bank India's 1.4 billion population, it will not happen through physical branches or banking correspondents. It will happen through the smartphone in your hand. This gives opportunity to thousands of fintech to penetrate and solve India's banking and credit problem.