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Post on Medial

Anonymous

Stealth • 5m

“Fibe, a nine-year-old Indian startup whose app allows users to quickly access loans for various needs, such as medical emergencies, education, and shopping, raised a $90 million Series E round co-led by Amara Partners, TR Capital and others.” Are these companies ethical, yes what they do is regulated but the way they handle data of their customers. For example I used to work in an Ed-tech, which’s name I’ll not disclose, who paid the sales team more commissions when you close the sale with a fibe loan. Which is literally convincing the parents that the loan is a better thing. And On the backend we get all their Credit Cards, their spending capacity etc. And I’m guilty for being a part of it too, as the general rule of thumb was to not let them pay at once, if possible. And for a “good” performance as a sales guy there you kinda have to get on board with these kinds of tricks. Its a shame that the company is funded by huge players like Kunal Shah, Ritesh Aggrarwal and VC firms

7 replies8 likes

Replies (7)

Anonymous 4

Stealth • 5m

Wow, that’s concerning. While the companies may be regulated, which doen't matter, their ethical practices are questionable af.

0 replies1 like

Anonymous 3

Stealth • 5m

This is a big issue in many startups, especially in fintech and ed-tech sectors. Regulation alone isn’t enough if the companies aren't committed to ethical practices.

1 replies1 like

Anonymous 2

Stealth • 5m

Haan yaar, this kind of behavior is not uncommon. Companies need to be more transparent about their practices and prioritize customer welfare over profits. It's disappointing that big names are associated with such practices.

1 replies1 like

Anonymous 1

Stealth • 5m

Unfortunately, this isn’t surprising. The startup culture often emphasizes growth at all costs, leading to questionable practices.

1 replies1 like

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