Why We Built P10

The cursor blinked continuously on the laptop waiting for my next entry. It’s late in the day and I was tired. But I needed to enter the numbers. My trusty Excel sheet had been my faithful companion in managing my personal finances.

But somehow, it just didn’t seem trusty enough. There were expenses I had missed entering and couldn’t remember anymore. I had overshot the due date on a payment. Now, I had to re-calibrate my budget for the month after paying the fine. All over again.

For the millionth time, I wondered why can’t there be an app that just handles everything? An app that tracks and reminds you of your bills and payments?

Something tipped in me that night. I was asking the same questions but I had not seen any answers.

“Why don’t you ‘build’ the answer?” I asked myself.

I had then been working on PerkFinance, a platform to make financial services more accessible for low-income workers.

I realized that I could work with the small but passionate team I had, to make personal finance management painless.

A new future of banking

Excited, I shared my vision with my team the next morning. Most people I knew already used an app or two to help them save or track bills. But most often it was highly confusing to manage multiple apps that served different purposes. Unbelievably (or perhaps not so) most of them found it cumbersome.

“There’s a knack for managing money, and I don’t have it.”

“Never had a head for numbers!”

“It’s so tiring to keep track of my loans, do the budgeting, and also enter expenses, in three different apps!”

After this enlightening idea-sharing session we got down to work. We already had over 500,000 people accessing PerkFinance. We spoke to some of them. We spoke to friends and family.

We realized that people, especially young professionals who hadn’t yet formed relationships with traditional banks, needed a one-stop shop that they could trust to manage their personal finances including bills, payments, savings, and investments. An app that could do the math for you. Lifestyles differed from person to person and existing banking apps failed in offering relevant services. They did not offer the ability to customize either.

It helped that we were all digital natives who already banked online. We were familiar with what was there and what wasn’t. We empathized.

I set to work with my dedicated team to make these things right. Every time we got stuck, we asked a simple question - what would I want if I needed an app to manage my money? Almost always, we got the answer we needed.

P10 arrives

Nearly two years and many bleary-eyed mornings later, we finally had our app. We named it P10 because we believed from the get-go that it deserved a score of a perfect ten.

We built P10 to address the personal finance management issues that affect every one of you too. We have made transactions transparent with no hidden anything. We made it intuitive with our superlative tech. Mobile and digital-first to make it accessible anywhere. And our designers have made it all flawlessly beautiful to use.

My team and I have been using P10, testing it out continuously. At least, that’s the excuse. The truth is, we are loving the way it is taking the stress off of us.

I have entrusted my finances to P10 now. It’s unimaginably easier to know where that pesky change went and how I managed to spend more than Rs 3,000 over the weekend.

It’s your turn now. Check out P10 and tell us if we have been successful. We would really love to know.

P.S. I deleted my Excel sheet last week.