Latest news with #ex-Goldman
Time of India
5 days ago
- Business
- Time of India
Billionaire Harsh Goenka shares how IIT graduate and ex-Goldman exec Abhishek Kumar worked as security guard before starting MyGate
Abhishek Kumar holds degrees from the presitigious IIT-Kapur and IIM Ahmedabad. (Pic credits- LinkedIn) Billionaire Harsh Goenka recently shared the extraordinary journey of Abhishek Kumar the co-founder of MyGate. Goenka recently took to social media platform X (formerly known as Twitter) to share a small incident about Kumar. An IIT-Kanpur and IIM-Ahmedabad alumnus, Kumar left his job at Goldman Sachs to work as a security guard. This experiment laid the foundation of his startup MyGate which now values Rs 1,670 crore. Billionaire Harsh Goenka shared how MyGate co-founder Abhishek Kumar worked as a security guard 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month. Moral: To build for others, first walk in their shoes,' wrote Goenka in a post on X. Kumar's decision to work as security guard was part of his immersive research. Kumar spent weeks working a security guard to understand their daily challenges such as handling cals, manually logging visitors, managing complaints and more. These valuable insights helped him in the creation of MyGate. For those unaware, MyGate is a digital platform which works towards streamlining the security, visitor access and more. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo MyGate was founded in 2016 by Abhishek Kumar, Shaurya Chakra awardee Vijay Arisetty, and tech entrepreneur Shreyans Daga. The startup now serves 4 million residents across 25,000 housing societies, facilitating more than 100 million monthly check-ins. Now the startup has expanded to smart locks , home automation and insurance distribution. In 2022, the startup raised around Rs 100 crore in 2022 from Urban Company and Acko, and its revenue jumped from Rs 77 crore in FY23 to Rs 109 crore in FY24. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India.com
7 days ago
- Business
- India.com
Who is Abhishek Kumar? Man who once worked as security guard, now owns business empire worth Rs 1090000000, his company is...
Industrialist Harsh Goenka is known for his witty posts and insightful thoughts on the social media platform. Once, he mentioned the success story of Abhishek Kumar, who left Goldman Sachs to become a security guard for a purpose. At present, he is the co-founder of the security and community management app MyGate. Abhishek Kumar, an IIT Kanpur graduate and former Goldman Sachs executive, put in 14-hour shifts as a security guard—not out of need—but to conduct thorough, first-hand research into the challenges of the security guards employed within gated communities so that he could grasp the complexities of their problems from the ground level. Abhishek's venture was all about the research, not the salary. 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month,' the chairman of RPG Enterprises Harsh Goenka posted on X. He added, 'Moral: To build for others, first walk in their shoes.' MyGate was co-founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga. The app-based platform manages visitor access, security, maintenance, housekeeping, and other daily services in residential communities. As of today, MyGate serves over 4 million residents across over 25,000 housing societies in India, managing more than 100 million check-ins each month. In 2022, the company raised ₹100 crore in a funding round co-led by Urban Company and Acko.
India.com
03-07-2025
- Business
- India.com
Meet man, who once worked as security guard in 14 hours shift, now owns Rs 1090000000 company named as…, he is…
Harsh Goenka recently shared a story of Abhishek Kumar, who is an IIT graduate. He built a security and community management app, Mygate. This app now provides services to over 4 million residents in 25,000 Indian housing societies and has 100 million monthly check-ins. Who Is Abhishek Kumar? He is an IIT graduate and former Goldman Sachs executive. He once worked as a security guard and co-founded MyGate . Goenka revealed that Kumar once worked 14-hour shifts as a security guard to understand their problems. He got an idea that later became the company 'MyGate'. 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month,' the chairman of RPG Enterprises Harsh Goenka posted on X. He added, 'Moral: To build for others, first walk in their shoes.' Foundation Of MyGate It was founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga. MyGate manage visitor access, security, maintenance, housekeeping, and other daily services through an app. The MyGate platform is now used by over 4 million residents in 25,000 housing societies in India and has more than 100 million check-ins every month. In 2022, MyGate raised Rs 100 crore in a funding round co-led by Urban Company and Acko. MyGate's Revenue The company reported revenue of Rs 77 crore in FY23 which increased to Rs 109 crore in FY24. According to Tracxn, its net losses narrowed from Rs 227 crore in FY23 to Rs 39.7 crore in FY24. In an interview, Kumar revealed that the company is targeting revenue of 165 crore in FY25. It has also been diversifying its business into new segments like insurance distribution. The company received an aggregator license from the Insurance Regulatory and Development Authority of India (IRDAI) to sell insurance products. In September 2023, MyGate also entered into the consumer electronics space by launching MyGate Locks.
Time of India
03-07-2025
- Business
- Time of India
'He worked as a security guard': Harsh Goenka shares inspiring story of MyGate founder Abhishek Kumar
Industrialist Harsh Goenka took to X (formerly Twitter) today to share the inspiring journey of Abhishek Kumar , co-founder of the security and community management app MyGate . Goenka revealed that Kumar, an IIT graduate and former Goldman Sachs executive, once worked 14-hour shifts as a security guard — an experience that later became the foundation for building MyGate. 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month,' the chairman of RPG Enterprises posted on X by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Belly Fat Removal Without Surgery in Morocco: The Price Might Surprise You Belly Fat Removal | Search Ads Undo He further added, 'Moral: To build for others, first walk in their shoes.' — hvgoenka (@hvgoenka) Live Events Founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga, MyGate helps residents of gated communities manage visitor access, security, maintenance, housekeeping, and other daily services through a unified app. The MyGate platform is now used by over 4 million residents across 25,000 housing societies in India. It facilitates more than 100 million check-ins every month. In 2022, MyGate raised Rs 100 crore in a funding round co-led by Urban Company and Acko. In a previous interview, Kumar shared that the company is targeting revenue of ?165 crore in FY25. MyGate has also been diversifying into new verticals, including insurance distribution. The company secured an aggregator license from the Insurance Regulatory and Development Authority of India (IRDAI) to sell insurance products. In September 2023, MyGate ventured into the consumer electronics space with the launch of MyGate Locks — a range of smart door locks offering digital home security. The company's revenue rose from Rs 77 crore in FY23 to Rs 109 crore in FY24. According to Tracxn, its net losses narrowed significantly from Rs 227 crore in FY23 to Rs 39.7 crore in FY24.
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Business Standard
01-07-2025
- Business
- Business Standard
Standard Chartered hit with $2.7 bn lawsuit over 1MDB money laundering
The claimants allege that Standard Chartered Bank permitted more than 100 intrabank transfers between 2009 and 2013 that helped to conceal the flow of stolen funds Bloomberg By Anshuman Daga and Chanyaporn Chanjaroen Standard Chartered Plc is facing a $2.7 billion lawsuit from liquidators alleging it played a role in enabling the laundering of billions of dollars misappropriated from Malaysian sovereign wealth fund 1MDB. The claimants allege that Standard Chartered Bank permitted more than 100 intrabank transfers between 2009 and 2013 that helped to conceal the flow of stolen funds. Such transfers led to the loss of more than $2.7 billion for the claimants, as well as S$20 million ($15.7 million) in public funds, according to the liquidators' statement. The British bank added that the liquidators had publicly stated they were 'shell companies with no legitimate business.' Standard Chartered had reported the transaction activities of the 1MDB companies, shut these accounts in 2013 and fully cooperated with the investigating authorities, the bank said. The 1MDB scandal was one of the biggest financial frauds in history, with stolen funds estimated to have exceeded $4 billion. Investigations led to the imprisonment of ex-Goldman Sachs Group Inc. executives and a former Malaysian prime minister. Malaysian financier Jho Low remains a fugitive. Singapore authorities imposed a S$5.2 million fine against Standard Chartered in 2016 for anti-money laundering breaches related to the case. Other banks were also fined.
