Praveen, along with his long-time friends and co-founders, ventured into the world of startups, initially launching GreazIt, a full stack automobile application. Discover the challenges they faced, including limited internet connectivity and funding constraints, which ultimately led them to pause and reevaluate their direction. After a period of personal and professional growth, Praveen and Karthik founded Swan Dewatering Systems, a successful venture in the construction industry. However, their shared vision and ambition pushed them to dream bigger and enter the tech realm along with their friend Vishwanath. Thus, Backspace Tech was born.

Learn the intriguing story behind the name "Backspace" and the inspiration that led them to choose this unique moniker. Praveen sheds light on their mission to transform the banking industry by revolutionizing its back end, eliminating outdated legacy systems, and paving the way for new, innovative solutions. Delving deeper, Praveen discusses the critical problem Backspace Tech addresses - chargebacks and dispute management.

He explains the complex process involved in handling post-transaction disputes and highlights the manual nature of the existing system. Praveen reveals how Backspace Tech is trailblazing in this area, developing a groundbreaking global product to streamline and automate the chargeback process. Their goal is to provide banks with an easily accessible, cost-effective, and highly scalable solution that accelerates dispute resolution, benefiting both customers and financial institutions.

Don't miss this captivating episode packed with insightful anecdotes, valuable lessons, and Praveen's invaluable expertise in the fintech space. Whether you're an aspiring entrepreneur, a banking professional, or simply intrigued by the intersection of technology and finance, this episode of ELI is sure to leave you inspired and enlightened. Tune in now to ELI and get ready to embark on an inspiring journey with Praveen Krishna Dev and the fascinating world of Backspace Tech.