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Sector Thesis·4 min read·Week 24

Series A Changes Everything: Embedded Finance Founders Unprepared

Embedded finance founders in India treat Series A as a funding event, not a business model pivot. The shift from merchant acquisition to partner lock-in, from unit economics to network defensibility, catches most unprepared. Three mental models break at scale.

ByAmit Tyagi·Fitoor Capital
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Amit Tyagi

Founder, AletheiaAI & GP, Fitoor Capital

Veteran of India's startup ecosystem. Writing about fundraising, investor psychology, and what it takes to build fundable startups in India.

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