In this episode, Martin speaks with  Suresh Vaghjiani, CEO & Co-Founder of CLOWD9, about the evolution of the fintech space and the challenges of building a payments infrastructure business without heavy reliance on venture capital. Suresh shares his extensive experience in the payments industry, explaining the difference between acquiring and issuing and how CLOWD9 is pioneering a fully cloud-native issuer processing platform. The conversation dives into the changing dynamics of venture capital funding, particularly in fintech, where investors are now focusing on revenue-generating businesses rather than high-growth, high-burn models. They discuss how down rounds have become the norm post-COVID and why VCs are now prioritizing clear paths to profitability over mere customer acquisition.Suresh also reflects on the challenges of bootstrapping in fintech, comparing it to SaaS businesses, and why B2B payments infrastructure companies require more upfront capital. He shares insights into CLOWD9’s funding journey, from seed rounds to an upcoming institutional raise, and the importance of choosing the right investors over just securing capital. The discussion touches on alternative funding options like crowdfunding, the role of family offices and angel investors, and the trade-offs between bootstrapping and raising VC money.Towards the end, they explore the impact of AI in fintech, discussing how it is being leveraged to automate development, improve efficiency, and enhance financial services, while also considering the challenges around data privacy and regulatory compliance. Wrapping up, Martin and Suresh reflect on the future of fintech funding, the importance of solving real problems, and how startups must balance growth, funding, and operational sustainability. Stay tuned for more inspiring bootstrap stories, and subscribe to hear more about building a tech business without big funding.

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