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meet-our-founders---where-it-all-beganCo-Founded by IIT-KGP alumni, Skeps, works to move credit away from card-based point-of-sale

YourStory (January 18, 2022)

Co-Founded by IIT Kharagpur Alumni, Mayank Tewari ('08) and Prerit Srivastava ('09), along with IIT Delhi Alumnus Tushar Srivastava

[Product Roadmap] How Skeps' blockchain-backed technology merges BNPL as a payment solution

In this week’s Product Roadmap, we feature New York-headquartered blockchain-based fintech company Skeps, which wants to move credit away from card-based credit at point-of-sale to an embedded experience.
The growing Buy Now, Pay Later (BNPL) market in the US is set to grow to a Gross Merchandise Value of $309.8 billion in 2028 from $88 billion in 2020. This has seen multiple fintech firms make a play for the lucrative market, including the likes of Swedish fintech firm Klarna, Australian fintech firm Afterpay as well as US headquartered Affirm and PayPal.

New York-headquartered Skeps , founded by Indian co-founders, wants to be the tech layer connecting banks, fintechs, and merchants in this snowballing ecosystem. Backed by Bertelsmann India Investments and Accel , Skeps offers its technology stack to merchants and banks to surface BNPL as part of the payments option rather than a separate credit layer.
Incorporated in October 2018, Skeps was founded by IIT Kharagpur alumni Mayank Tewari and Prerit Srivastava and IIT Delhi alumnus Tushar Srivastava. The company started out as a blockchain marketplace where lenders could buy and sell leads in a secure way, while borrowers could maintain confidentiality while shopping for the right lender.

In its initial avatar, the company established a network of fintech companies and banks. At present, the company works with six fintechs and two bank partners, targeting the US market. (Read More) (Skeps website)