Q&A WITH PADMINI GUPTA, CHIEF EXECUTIVE AND CO-FOUNDER

Q What other successful start-up do you wish you had started?

A There are so many inspiring startups out there. From ambitious, audacious, industry-transforming ideas like Airbnb to SpaceX that came out of the blue and disrupted space technology in unimaginable ways. I have also always admired CashApp for how it has made a place for itself in a cluttered, competitive US market purely by word of mouth and by always putting the customer first.

Who is your role model?

I have closely followed the career of American politician Nancy Pelosi, the first woman to serve as Speaker of the US House of Representatives. She is such a strong personality and a powerful voice for women’s rights, and it is amazing how she leads from the front.

My biggest inspiration has been my parents, who were among the first Indian residents in Dubai and then went on to build a successful manufacturing business here. I admire them for how they found their ground in a new country and have given back so much to the community ever since.

What new skills have you learnt since launching your business?

Building an enterprise is a labour of love – I have built Xare brick by brick in a very dynamic payments industry by innovating and making use of our strong tech capabilities. By understanding what customers need and making data-driven decisions, I have learnt to keep Xare ahead of the curve.

Where do you want to be in five years?

Over the next five years, I want to lead Xare as it enables greater inclusion into the financial system through shared access. I want to see Xare empowering the two thirds of the world who do not earn an income and are financially dependent on the one third of the world that does. We have set out to change the way people can have access to and use financial resources the world over. And we will continue working relentlessly towards our goal.

If you could do it all differently, what would you change?

Nothing. I am proud of how Xare has gone beyond expectations. Xare disrupted the payments scene in the postCovid era when people simply wanted greater control of their money. They moved away from cash which is difficult to manage. They spent with strict discretion and began to rely more on shared resources. We are happy we could offer them an elegant solution and find our way to success.