
Nitya Sharma & Chaitra Chidanand — The Wall Street Duo Who Built a Digital 'Khata' from Chennai
Excerpt: In a country where credit card penetration hovers below 5%, two former Wall Street professionals — Nitya Sharma and Chaitra Chidanand — returned to India to build a fintech platform inspired by the neighbourhood khata (ledger). Their startup, Simpl, began with a small office in Chennai and grew into one of India’s largest buy‑now-pay‑later (BNPL) platforms, partnering with over 26,000 merchants and serving more than 8 million users. This research article traces Simpl’s journey from a Chennai‑based idea to a $83 million funded venture, analyzing its “trust score” technology that replaced traditional credit checks, its one‑tap checkout innovation, and the regulatory challenges it faced during the 2025 RBI crackdown. The piece also explores how the founders kept their engineering and operations anchored in Tamil Nadu, building a fintech success story from Chennai while competing with Bengaluru‑based rivals.








