Upasana Taku and Bipin Preet Singh started a company in 2009, named MobiKwik. Both were then 42 years old. It offers a wide range of services including mobile phone-based payment systems, digital wallets, zip pay later services. The couple has been working together for 12 years.
The trend of couplepreneurs is increasing rapidly in India. In the recently released reality show ‘Shark Tank India’, 18 percent of the contestants were couplepreneurs. Anupam Mittal, the judge of the show told this. Couplepreneurs mean a couple who are in a relationship and run a business or company together.
On the occasion of Valentine’s Day, Moneycontrol brings to you the fascinating journey of three such couplepreneurs who, despite their different backgrounds, decided to join the business world after meeting at some point in their lives. We are also telling you about the lessons and victories he got in this journey.
Taku and Singh of MobiKwik have separate bank and investment accounts. “We talk about ideas in investing together. We know each other’s investment portfolios,” said Singh, Co-Founder, MD and CEO, MobiKwik. “We have carefully kept personal investments separate so that they do not clash with each other and diversify our investments,” says Taku, co-founder of the company. For example, Taku has made some of his investments in cryptocurrencies. On the other hand, Singh has invested in certain stocks, while Taku has not invested in stocks. They believe that if they had invested in a single share or mutual funds, their joint net worth would have been lower than it is now.
Swati Bhargava and Rohan Bhargava are the co-founders of ‘Cashkaro and Earnkaro’. Both of them also keep their investments separate. Swati is 41 years old, while Bhargnav is 38 years old. Both said that they prefer to take investment advice from professionals. This helps them to build a portfolio according to their goals.
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Only 27 years old Gaurav Chauhan and Riya Chauhan are the owners of Shringar Creations. This company is in the business of handicrafts. Both of them keep their investment accounts separately. Gaurav invests money in mutual funds through SIP, whereas prefers to invest money directly in stocks. They like to take risks. However, they consult an investment advisor before investing.
Couplepreneurs prefer to take a term insurance policy. They do not invest in traditional insurance plans. For example, Singh and Taku have only one term insurance plan each. He has taken insurance policies from different companies. The finances and fortunes of the couple are linked to the growth of their business. When business is down, it affects both. To face such a situation, it is necessary to have a contingency plan. It should be worth at least 18 months’ worth of expenses.
Cashkar’s Bhargava regrets not giving much importance to personal investments. He has also suffered from investing in shares. “We are always so busy with our business that we constantly postpone our finances,” he says. He regrets investing in stocks and schemes of mutual funds without hesitation. Actually, he did not make a financial plan. The only good thing is that they have enough emergency fund.
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