mTrakr – FinTech Mumbai Startup of the Week

mTrakr – FinTech Mumbai Startup of the Week

17-Apr-2017 by Shantum Gupta

Even as digital payments and micro-transactions make their way to the forefront of daily life, tracking expenses and managing money remains a challenging task, with most people still defaulting to excel sheets or other fragmented solutions to make sense of their financial situations. While there have been many attempts to solve such problems, no single solution has emerged as the gold standard within the industry.

mTrakr, our FinTech startup of this week, is vying for the pole position within the personal finance management space. Armed with a team of rockstar developers, Nitish Garg and Navneet Behl are launching into the sector with an India focussed approach. mTrakr’s aim is to enable its users to effortlessly visualise their financial positions, while also offering built-in options to save, invest and grow your money. The team also recently updated their app to support Hindi, opening doors to a large user group which is currently underserved by app developers.

Both co-founders come from a technology background, with Nitish also holding an MBA from IIM-Bangalore. We spoke with Nitish to find out more about their journey so far:

1. Why did you choose the personal finance management space?

We are doing this because we believe there is a problem around managing your personal finances. Most people lead incredibly busy lives these days, allowing for very little time for managing personal finances. Navneet and I personally faced this problem while we were doing our first startup (DutchIt). We missed a few credit card bills and even forgot about our phone bills, and ended up having to pay extra even though we had the money lying in our bank accounts. It was then that we thought why not solve this particular problem with all the learnings that we had taken from DutchIt.

2. How did you meet your co-founder – Navneet?

We have been friends since 2005 when we met in our engineering college. We were and still are avid online, multiplayer gamers. While we started of as rivals, we also went out as a team for competitive gaming (ESWC) qualifiers for India. That’s how we interacted throughout college and we have stayed in touch ever since. Even when I was doing my MBA at IIM-Bangalore, we used to meet often in Delhi or Bangalore. Now, Navneet and I have been working together for almost two and half years.

3. How has the experience of starting a company been for you? What would you say is the most important success factor?

It has been a great experience, however being an entrepreneur requires a lot of sacrifices. Navneet and I have spent many sleepless nights trying to nail our business model and create a product experience that our users love. Over the past few months, the entire team been spending atleast 12-14 hours a day at Startupbootcamp to keep getting better and better.

In terms of success factors, undeniably the most important aspect is the team. Having a team that really believes in your mission and is driven to deliver the same quality of experience as the founders want has been our most valued asset. We work hard to cultivate a great culture, and we try and do that by keeping everyone as part of decision making and welcoming everybody’s opinions/feedback. We also help them with their personal development by helping them achieve and set new targets.

4. Any piece/s of advice for budding entrepreneurs?

Our piece of advice from our limited experience is that one has to work really hard. Hard work leads to success. At the same time, failure teaches some important lessons, it helps one understand where things have been going wrong and what measures should be taken to mitigate exposures.

Another one is being open to asking for help. In my personal experience, I have realized that people do respond whenever you approach them whether it’s through cold calling, mailing or any other way. It’s very important to reach out to people and get your doubts cleared. I personally made a mistake of not following this as I was shy and not confident.


Android users can check out the app on the play store here. If you are interested in knowing more about mTrakr or getting in touch with the team, please write in to us at or

Stay tuned to this space for the next startup of the week!

Shantum Gupta