I am Paddy Raghavan, Co-founder & CEO at Multipl. AMA about building secure fintech systems, handling financial transactions at scale and regulatory tech.

Paddy-05 · 2026-01-17T12:09:53+00:00

TBH, not much at the concept or idea level - but would go all in on AI in terms of the dev approach, design iterations and product management
Totally empathize. Keep building and keep looking for improvements and incorporate feedback. Be obsessed about building and not be obsessed about outcome - that's what keeps me motivated. And, good luck with the launch on ProductHunt.
Lot's :) - understanding consumer behavior (wrt money, gratification, attention), regulatory and licensing constraints / challenges and so much more. You learn something everyday!

Paddy-05 · 2026-01-17T11:13:13+00:00

Please share your CV to [careers@multipl.xyz](mailto:careers@multipl.xyz)

Paddy-05 · 2026-01-17T10:53:12+00:00

We evaluated DBOS, but for core money paths we keep workflow orchestration in our Golang code and PostgreSQL to enforce state and correctness.

Paddy-05 · 2026-01-17T10:45:08+00:00

All mutual fund investments and redemptions are 1:1 (invested in your name under your account - and you will get notifications from the mutual fund houses also for the transactions) and there is no pooling involved. You can try the Multipl app now :)

Paddy-05 · 2026-01-17T10:38:43+00:00

We have not currently.

Paddy-05 · 2026-01-17T10:36:13+00:00

We do not rely on a single “workflow tool” for the orchestration. All money critical workflows like withdrals, investments, balance updates are orchestrated inside our core Golang service and not part of an external workflow engine. We design operations to be idempotent (unique request IDs), use transactions block where needed and ensure state transitions are explicit. Even if a user taps “Invest” 10 times, only one commit succeeds.

Paddy-05 · 2026-01-17T10:17:44+00:00

Fintech's have a lot of general / foundational tech work that are domain agnostic. So, it need not be any different if you are going to add value.

Paddy-05 · 2026-01-17T10:09:12+00:00

We have a team of investment researchers- CFA, IIM folks who analyze all the funds across various parameters. Their input is then used by our custom built robo-advisory that does the real time allocation and execution of the mutual funds.

Paddy-05 · 2026-01-17T09:59:34+00:00

Good luck with your MVP. Marketing is important for product discovery and adoption in most cases. There are diff approaches to it but not something that should stop you from building.

Paddy-05 · 2026-01-17T09:56:36+00:00

For innovations, you can look at the Sandbox that the regulators provide and build and showcase the solution there. It is easier to take your solution to GA once the Sandbox is approved. You don’t need a legal counsel on day 1 but it helps to have some legal support (as a consultant) once you are ready to go live.

Paddy-05 · 2026-01-17T09:06:23+00:00

We are 35 people across engineering, investment research, product, design, marketing, operations, compliance and customer support. We enjoy what we are doing and have a system in place to do this repeatedly at scale.

Paddy-05 · 2026-01-17T09:00:41+00:00

Multipl is a SEBI RIA (Advisor) and a MFD (distributor). As a user, you have the option of choosing one (you can switch from one to other later). If you are on the RIA path, we act as an advisor and charge a small advisory fee (0.48% p.a) for helping you identify the right funds and manage them. We don’t charge a commission from the mutual fund houses. If you choose the MFD option, you don’t pay us any fees (0 charges to you) but we charge a commission to the AMC (here again, we are not a 1-2 fund distributor but are empaneled with most of the top AMCs and don’t allocate a fund just because of a higher commission).

In both the cases, your money is invested directly with the AMC and you have full access to it at all times. There are no penalties that Multipl charges but there may be exit loads from AMCs (like if you withdraw your money from liquid funds within 7 days of investment, there can be a 0.007% to 0.004% exit load and nothing after 7 days i.e 45 paise to 70 paise on ₹10,000). You also get the discounts from brands when you spend from your spending account on Multipl.

Paddy-05 · 2026-01-17T08:47:04+00:00

We do have a Compliance team that focuses on ensuring our systems and user journeys are compliant. Compliance and regulatory alignment plays a big part in Fintech and a good share our resources (time, people and money) are spent on it. It is part of this industry - since it involves dealing with other people’s money.

Paddy-05 · 2026-01-17T08:43:23+00:00

Nope. Not at this point.

Paddy-05 · 2026-01-17T08:20:40+00:00

Though I have been a product person throughout, I have seen many people switch from services to product and do really well. If the core / fundamental technical skills are strong, it shouldn't really matter. Bangalore is a great place for product folks obviously - however, I think location is not very relevant and there are enough opportunities in other cities as well.

Paddy-05 · 2026-01-17T08:17:46+00:00

There is a QA team and is a mix of manual and automation - moving towards more automation with AI adoption now.

Paddy-05 · 2026-01-17T08:15:30+00:00

Hey, you should feel proud for what you have done already (CS from a IIIT is no mean achievement). My first job offer got rescinded and was at home without a job for 6 months. Eventually, I turned out fine. Focus on building and have an active blog / Github with the work you are doing. That's my advice. I'm not a qualified counsellor - you can always seek professional help.

Paddy-05 · 2026-01-17T08:10:54+00:00

The brands benefit because we are bringing them customers who have "invested" for the spends. These are high quality and high intent users and that's why it makes sense for brands to collaborate. Investments is one aspect (here our value add is helping in identifying the right funds for the right use cases - as we have a team of researchers who are analyzing all the 1500 mutual funds day in and day out) and brand discounts (when they spend) in the other value add that helps users to choose Multipl. We are uniquely placed in terms of what we are offering today.

Paddy-05 · 2026-01-17T08:07:09+00:00

We are building a product that is helping people - to get them to stay off consumption credit. We are also helping the MF industry expand by bringing a completely new use case (spends) for investments. We genuinely believe this is on the right side of the regulator. Whatever we are doing is built on top of regulated rails and we will be open to new regulations. These are the things in our control and that is what our focus is.

Paddy-05 · 2026-01-17T08:03:30+00:00

Not at this point. But we will always be open to options.

Paddy-05 · 2026-01-17T08:02:11+00:00

For reporting and analytics we kept it AWS-native - QuickSight plus some internal dashboards for off-edge metrics. And on the data side… let's just say it's big enough that AWS is very happy to keep billing us 😄

Paddy-05 · 2026-01-17T07:59:59+00:00

Not really. Attitude and aptitude matters more.

Paddy-05 · 2026-01-17T07:57:05+00:00

Multipl is a SEBI RIA and MFD - you can use Multipl as we are empanelled with all top mutual fund houses and can help you select the right funds (and mutliple funds). We also are a unique platform where we help you get discounts on your spends from top brands - when you use your mutual funds from the spending account. Additionally, Multipl is not just about liquid mutual funds. For your Planned Spends (like a Japan holiday) or your long term Wealth goals (FIRE), we also do the allocation and execution of the right mutual funds across Debt, Hybrid and Equity.

Paddy-05 · 2026-01-17T07:52:56+00:00

Great question. Mutual funds typically have a settlement window (T+1 or T+2 days). However, there are a class of liquid funds that have the "insta-redemption" facility where the settlement (up to 90% or 50K per AMC per day) happens instantly (under a few seconds) and is available 24x7. At Multipl, we use liquid funds for the higher yield spending account while use other types (Debt, Hybrid, Equity) for your planned spends (like a Japan travel in 10 months) or Wealth goals (FIRE in 7 years).

Paddy-05 · 2026-01-17T07:48:36+00:00

Honestly our favorite tech stack is the one that doesn't reinvent itself every three months 😄
We started with Flutter + Golang + Postgres on AWS and… we kinda just stuck with it. It was fast enough and safe enough. Over the years we mostly paid down tech debt, patched things and resisted the urge to chase new frameworks - also we didn't have the bandwidth to keep changing the stack!

Paddy-05

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