The Indian legal landscape is unable to keep pace with the technological advancements and the consequent method of doing business (a few examples being aggregator cabs, gig worker models, e-pharmacies, cryptocurrency, retail D2C platforms, neo-banks, etc.). As a result, an emerging and interesting trend which has developed in the legal industry is for lawyers to be skilled with the task of being practically and commercially alive to the problem at hand in the delivery of their advice.

FamPay, as a young, yet one of the fastest growing, startups of India, caters to the youth of the country – in an effort to make them financially sound. Taking cue from the western culture, the entire premise of FamPay is to bring about financial literacy in the younger generation and alsoand changes the way parents approach this subject vis-à-vistheir children.

In conversation with Ridima Bhargava, General Counsel – Legal and Public Policy at FamPay.

Take Us Through Your Professional Prior Industry Experience That You Bring To The Table And What Was The Turning Point In Your Career.

I was fortunate to have received a big break fairly early in my career when I was offered the role of Head – Legal at OLA Cabs, one of India’s largest and earliest ride hailing companies. This was 2015, the sixth year of my profession before which I was a capital markets and PE, M&A lawyer and had worked with noted lawfirms across Bombay and Bangalore. I transitioned to Gameberry Labs in mid-2017 as the General Counsel of Legal, Global Strategy and Public Policy of the organization. There, I continued to face challenging legal issues across gaming, privacy, data protection and intellectual property laws.

In 2021, I shifted to FamPay in the role of General Counsel of Legal and Public Policy. At that time, FamPay had just started the process of raising Series A investment from marquee investors. Fortunately, the culture built by the founders at FamPay is such that one feels at home the moment one joins, and therefore, adjusting here was never an effort for me.

“At a rapidly-growing organization like fampay, ensuring creative interpretation to the letter of the law is key to a fintech’s longterm success, thereby ensuring a fine-balance between compliance and innovation”

Naturally, all of this comes with responsibility, given the sensitivity of the sector, the audience and the need for data protection and privacy.

What Are The Most Challenging Aspects Of Your Current Role And How Do You Overcome Them?

At an organization like FamPay, the associated legal hurdles (or compliances) have to be kept in mind throughout at each step – considering the sector of financial services is heavily regulated. Therefore, any strategic step is to be aligned with regulatory expectations. I don’t think I need to emphasize on the need of having to maintain policy and government relations to be able to understand the expectations required to be complied with by a company like Fam-Pay. My day-to-day tasks also involve communicating with existing and potential investors, leading PE, M&A transactions, as part of our long-term growth. As I mentioned earlier, I joined FamPay at the time when we were in the process of raising Series A, and helped the company navigate and close the entire fund-raising exercise, which continues to bear fruits in our strategic acquisitions and partnerships with key stakeholders.

How Do You Keep Yourself Well Aligned With The Periodic Evolutions Occurring Within The Legal Framework And The Tech World In General?

As a matter of principle, I frequently take some time off to keep myself abreast of recent developments, but, as a matter of realization, have found it often easier to keep a tab on market dynamics and trends with one ear-to-the-ground supplemented by a strong network of experts from different sectors. Every legal evolution comes with an array of opportunities to diversify and multiply further – a task which is ingrained in the role of a general counsel. At FamPay, I have also set up an internal vertical of legal and regulatory updates to track day-to-day market news and statistics.

Given The All-Consuming Nature Of Your Role At Fampay, How Do You Strive To Strike A Balance Between Your Professional And Personal Life?

For me, the recipe to strike this balance is structured mentorship and delegation. With the right amount of guidance and training, one can instil the feeling of ownership in the members of the team which leads to less involvement at a senior level. I have always believed in this mantra, and this has helped me throughout. Fortunately, I have never had any issues in maintaining the adequate work-life balance, a great share of which goes to the leadership I have had a chance to work with throughout.

Ridima Bhargava, General Counsel Legal And Public Policy, Fampay

Having worked in the role of Head – Legal at OLA Cabs, one of India’s largest and earliest ride hailing companies and in senior positions for other companies, Ridima brings her expertise to FamPay. She has helped FamPay grow at a rapid pace and will continue to do the same.