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India.com
02-05-2025
- Business
- India.com
Meet man, studied from IIT Kanpur, raised Rs 120 crore for startup, now unable to pay rent due to…
Home Business Meet man, studied from IIT Kanpur, raised Rs 120 crore for startup, now unable to pay rent due to… Meet man, studied from IIT Kanpur, raised Rs 120 crore for startup, now unable to pay rent due to… In a viral LinkedIn post, Harsh Pokharna, who holds a degree in Mechanical Engineering from IIT Kanpur, revealed that in 2019, his fintech startup, OKCredit, had raised Rs 120 crore in funding, but today, he struggles to make monthly rent Harsh Pokharna (File) Over the fast few decades IIT alumni have emerged as successful entrepreneurs, building startups that have grown into multi-billion dollar companies. However, not everyone has tasted the same level of success, with some going bankrupt after failed ventures. One such individual is Harsh Pokharna, an IIT Kanpur alumnus, who raised Rs 120 crore in funding for his startup in 2019, but today even struggles to make monthly after burning through all his savings. Raised Rs 120 crore funding, today unable to make rent In a viral LinkedIn post, Harsh Pokharna, who holds a degree in Mechanical Engineering from IIT Kanpur, revealed that in 2019, his fintech startup, OKCredit, had raised Rs 120 crore in funding, but today, he struggles to make monthly rent like an unemployed college student. 'In 2019, even after raising ₹120 crore Series A for OkCredit, I was broke. I was living paycheck to paycheck. Had no savings and was still worrying about rent in Bangalore. And it's not just my story. I've seen it happen again and again. Founders raising millions,and still living like college kids. Stressed about survival,' Pokharna wrote. Venture capitalists pushing founders towards bankruptcy The entrepreneur claimed venture capitalists (VCs) were responsible for entrepreneurs going broke because they want 'founders to stay poor'. 'It's easier to control founders who are financially desperate. If a founder dares to ask for a little personal liquidity to clear their loans, to finally stop living on the edge. They're told they might 'lose their hunger',' he added. Harsh Pokharna added that while VCs have no issues in spending millions on serial founders who own 'beach houses and retirement funds', but upcoming founders are often told no when they ask for personal liquidity to clear their debts because VCs feel that a 'founder with money becomes dangerous. Dangerous enough to say no. Dangerous enough to walk away. Dangerous enough to build on their own terms.' 'Apparently, money only kills ambition when it's in your hands. Not theirs. The truth is – a little financial security doesn't make founders weak. It makes them fearless. So if you're a founder, don't let anyone shame you into staying poor. Build your dream. But build your freedom too,' he added. Pokharna's post stirs debate about startup ecosystem and funding Harsh Pokharna's post has stirred a debate among netizens about the country's much-hyped startup ecosystem and venture capitalists, and the sacrifices entrepreneurs make to build a successful company from the ground up. 'I've always believed that financial security doesn't dull ambition, it gives you the freedom to think clearer and build better. No founder should feel guilty for wanting peace of mind while building their dream. You can build impact and stability — it's not either-or. Thanks for calling this out so honestly,' wrote one user. 'So why take money from such VCs? why not prefer VCs who are flexible and healthy with founders, or why not go the bootstrap + MSME loans route?,' asked another. 'It's the harsh reality of Startup founders. Life was like a king when living with Pay cheque and the same becomes a nightmare when giving pay to people. Sometimes we have to give up so many personal requirements. Entrepreneurship seems to be an one way entry, getting into it is easy but when you are addicted to it, it will be very difficult,' a third commented. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on More Stories
Time of India
01-05-2025
- Business
- Time of India
Bengaluru CEO who raised Rs 120 crore funding shares why investors love 'poor' founders who live like college kids
Harsh Pokharna , co-founder and CEO of Bengaluru-based startup OKCredit, revealed that he was broke and living paycheck to paycheck in 2019—even after raising Rs 120 crore in funding for his company. In a detailed LinkedIn post, Pokharna said this experience was not unique and criticised venture capitalists (VCs) for keeping startup founders under financial pressure. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan VCs prefer financially strained founders, says Pokharna In his post, the IIT graduate wrote, 'VCs want founders to stay poor… So if you're a founder, don't let anyone shame you into staying poor.' He added, 'Founders raising millions, and still living like college kids. Stressed about survival.' Pokharna said VCs often prefer that founders remain financially dependent, which gives them more control. 'A founder with money becomes dangerous,' he wrote. He explained that when founders have personal money, they gain the confidence to build businesses on their own terms and to disagree with investors. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Victoria Principal Is Almost 75, See Her Now Reportingly Undo Personal liquidity often discouraged, claims CEO He criticised the resistance some founders face when seeking personal financial stability. 'If a founder dares to ask for a little personal liquidity to clear their loans, to finally stop living on the edge, they're told they might 'lose their hunger,'' Pokharna wrote. He also pointed to a double standard in how funds are distributed. 'Meanwhile, the same VCs have no problem throwing millions at serial founders who have beach houses and retirement funds,' he said. 'Apparently, money only kills ambition when it's in your hands. Not theirs.' Live Events Message to founders: build freedom too Pokharna encouraged founders to protect their financial well-being while pursuing their business goals. 'Don't let anyone shame you into staying poor. Build your dream. But build your freedom too,' he wrote. Post strikes chord with startup community Since its publication, the post has gone viral and triggered responses from other entrepreneurs and professionals. One user commented, 'The 'broke but building' phase is often glorified but the struggle is real. I've seen founders do incredible things while carrying silent financial anxiety.' Another wrote, 'I've always believed that financial security doesn't dull ambition, it gives you the freedom to think clearer and build better. No founder should feel guilty for wanting peace of mind while building their dream. You can build impact and stability — it's not either-or. Thanks for calling this out so honestly.' Others supported the message with similar sentiments. 'Can't agree more. It's such a taboo today if a founder tries to take a decent salary,' one said. Another added, 'This post is so real! The struggle of being a founder, constantly juggling financial pressures while trying to build a dream, hits hard.'
NDTV
01-05-2025
- Business
- NDTV
"It's Not Just My Story": Bengaluru CEO Says He Struggled To Afford Rent Despite Raising Rs 120 Crore
Quick Take Summary is AI generated, newsroom reviewed. Harsh Pokharna reflects on his financial struggles despite startup funding. He claims venture capitalists keep founders financially dependent on them. Pokharna advises founders not to feel ashamed for seeking personal liquidity. Harsh Pokharna, the co-founder and CEO of Bengaluru-based OKCredit, recently shared that he was 'broke' in 2019 and living paycheck by paycheck despite securing Rs 120 crore in funding for his startup. In a long LinkedIn post, the IIT graduate claimed that his story isn't unique. He blamed venture capitalists for keeping founders financially strained. He also offered advice to founders and entrepreneurs: 'VCs want founders to stay poor… So if you're a founder, don't let anyone shame you into staying poor,' Mr Pokharna wrote in the post. 'Founders raising millions, and still living like college kids. Stressed about survival,' the entrepreneur wrote. He explained the reason behind this. He stated that venture capitalists often prefer founders to remain financially strained, as a founder with no money is easier to control. 'A founder with money becomes dangerous,' he explained, adding that founders with money also get the confidence to 'build on their own terms' and disagree with investors. 'If a founder dares to ask for a little personal liquidity to clear their loans, to finally stop living on the edge they're told they might 'lose their hunger,'' Mr Pokharna claimed. 'Meanwhile, the same VCs have no problem throwing millions at serial founders who have beach houses and retirement funds,' he added. Further, the entrepreneur said, 'Apparently, money only kills ambition when it's in your hands. Not theirs'. He then advised all founders to stand up for their rights. 'Don't let anyone shame you into staying poor. Build your dream. But build your freedom too,' he wrote. Since being shared, Mr Pokharna's post has gone viral, with several users sharing their thoughts. 'The 'broke but building' phase is often glorified but the struggle is real. I've seen founders do incredible things while carrying silent financial anxiety. It doesn't just wear you out, it stops your fears and make you choose and risk to win bigger!' wrote one user. 'I've always believed that financial security doesn't dull ambition, it gives you the freedom to think clearer and build better. No founder should feel guilty for wanting peace of mind while building their dream. You can build impact and stability — it's not either-or. Thanks for calling this out so honestly,' expressed another. 'Can't agree more. Its such a taboo today if a founder tries to take a decent salary,' commented a third user. 'This post is so real! The struggle of being a founder, constantly juggling financial pressures while trying to build a dream, hits hard,' said another.
