Tank Talks
Tank Talks By Ripple Ventures
Hamed Abbasi of Plooto on Why Immigrants Make The Best Founders

Hamed Abbasi of Plooto on Why Immigrants Make The Best Founders

Episode 129

Seeing life through fresh eyes is a trait that can get lost in today’s noisy world. When you bring a perspective of a beginner, not knowing what is impossible, you can sometimes transcend conventional wisdom and achieve greatness. Immigrants can bring a fresh perspective and couple it with a focused effort to succeed. Our guest today is Hamed Abbasi, Co-Founder and CEO of Plooto, who is both a successful serial founder and has survived the difficult and often underappreciated immigrant journey.

About Hamed Abassi:
Hamed Abassi is the Co-Founder and CEO of Plooto, a payments platform aimed at simplifying B2B payments. Prior to that he co-founded and was CEO of Vast Labs, a casual gaming company that was acquired in 2014. He started his career in the banking world.

In this episode we discuss:
(01:24) Hamed’s journey as an immigrant from Iran
(05:12) Skills he had to learn as a newcomer to Canada
(08:10) Moving from the world of banking to becoming a startup founder
(11:15) Creating Flywheel dynamics in a startup scene
(12:49) Starting Plooto
(15:45) Pivoting from a Bitcoin platform
(17:31) Plooto’s first financing round
(19:10) Competing against well-established industries
(22:59) Why Hamed wanted to compete in the crowded FinTech market
(26:14) How and when to raise prices as a founder
(29:12) Would they handle their price hike differently
(30:10) The importance of data when gathering feedback
(32:02) Why revenue is important to startups
(33:47) Plooto’s success at venture fundraising
(37:32) The prep that went into their fundraise
(41:26) How the current financial climate is affecting their business

Fast Favorites:

  1. 🎙- Favorite Podcast: Knowledge Project

  2. 📰- Favorite Newsletter /Blog: plooto.com/blog

  3. 📲- Favorite Tech Gadget: Kindle Scribe

  4. 📈- Favorite New Trend: Espresso Extraction

  5. 📚- Favorite Book: Full Castastrophe Living

  6. 🤔- Favorite Life Lesson: Nobody knows anything, and you need to experience things for yourself

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Tank Talks
Tank Talks By Ripple Ventures
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