Bengaluru CEO Who Lost ₹2 Crore, Paralyzed, Receives Nikhil Kamath’s Support
An entrepreneur from Bengaluru talked about his path from failure to success and offered appreciation to Nikhil Kamath's WTFund for helping his firm succeed.
Mumbai (Maharashtra) [India] February 14: The CEO of ReferRush, a Bengaluru-based businessman, thanked Nikhil Kamath's WTFund, a co-founder of Zerodha, on his official X (previously Twitter) account after his startup was chosen for its grant program.
Vikram Pai talked about his hard six-year entrepreneurial career, including the highs and lows he experienced before finding success.
"Six years. Five failed businesses. ₹2 crore earned and lost. They called me Elon Musk. Half my body got paralysed. I went down to my last ₹4,000 and couldn’t pay my co-founder’s salary. Here’s the screenshot before I sent him ₹36,000 for the month. He had responsibilities. Everyone told me to quit. Even my grandma questioned me. I was called delusional. Dad said I was ‘playing business’. Aunties gossiped about my career. My mum lost belief. My best friend betrayed me. I cried. But I always believed. I always had food and a home. That’s all I needed."
A crucial point: the backing of WTFund
ReferRush was one of just nine firms chosen from more over 2,400 applications for the WTFund grant, according to Pai. He highlighted the growth of the business by saying:
"It took us four months to generate ₹1 lakh for our customers. Today, we’re generating ₹1.5 lakh a day. We’re profitable. And we’re just getting started."
Pai went on to thank those who supported him
"The first five years aren’t where you win. It’s where you get good. Grateful for my parents. For Rohan. For this opportunity. For this life. Never give up. Believe in yourself. Every e-commerce brand in the world will use @ReferRush. We are inevitable. A big thanks to @harnidhish @Suchetkm @nikhilkamathcio @TheWTFund Arshia Vivek and Piyush."
Check out the post here:
6 years. 5 failed businesses. 2 crores earned and lost.
They called me Elon Musk. Half my body got paralyzed.
I went down to my last 4k and couldn’t pay co-founders salary. Here’s the screenshot before I sent him 36k for the month. He had responsibilities.
Everyone told me to… pic.twitter.com/umaZQ0QBaw — Vikram Pai (@vpai100) February 13, 2025
The WTFund's goal is to empower young entrepreneurs
With 22 founders from nine firms, WTFund has launched its second cohort under the direction of Nikhil Kamath, a co-founder of Zerodha. The initiative helps early-stage entrepreneurs increase their impact by offering up to ₹20 lakh in grant financing, coaching, and strategic support.
In explaining the fund's goal, Kamath said:
"Entrepreneurs can build at any age, but there’s something about being young—the audacity, the relentless energy, the willingness to take risks before the world tells you otherwise. With Cohort 2, we’re backing founders who aren’t just dreaming of change but are actually building it."
Significant startups
Across a variety of industries, including Tech/SaaS, D2C, EdTech, FinTech, HealthTech, AgriTech, and CleanTech, the second cohort comprises entrepreneurs from more than 50 cities, including Tier 1, Tier 2, and Tier 3 locales. surprisingly, AI-based solutions are the focus of six of the chosen firms.
The first cohort's lessons
Thirteen entrepreneurs from the initial cohort last year received early-stage support, which helped them improve their business plans, grow their staff, and draw in more funding. The fact that some of these entrepreneurs are now serving as mentors to the newest generation further illustrates WTFund's dedication to building an effective business ecosystem.
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