Jio Financial’s top executive, KV Kamath, cautions fintech startups: It’s crucial to know when to pause and reassess.

KV Kamath, Chairman of Jio Financial Services, cautioned fintech companies at the Moneycontrol Fintech Conclave that many are “burning money without understanding when to stop.” He emphasized the importance of financial prudence and realizing that there is no clear endgame for these companies. Kamath also highlighted the need for fintechs to focus on understanding business as much as engineering talent. He criticized the industry’s over-hiring and noted that new-age companies will be key to India’s technology sector’s future growth. Kamath predicted significant growth in the technology sector’s GDP contribution within the next 5-7 years, but emphasized the need for innovation beyond consumer tech. He stressed the importance of embedding technology within core business operations to create a “transformational organization” where every employee understands technology’s role in their daily work.