22nd October 2020

Investing in young companies

“Sometimes the entrepreneurial journey starts with jumping off a cliff and trying to figure out how to put a plane together on your way down. The key is to have the right team jumping off the cliff with you to increase your chance of putting that plane together.”

A success journey summarised by serial entrepreneur Manmohan S. FXPRIMUS' Chief Strategy Officer is well known for his unorthodox approaches, innovative ideas and leading by example. So how did he become a recognised figure in the business and fintech world? He explains his journey to being award most trusted broker in his region.

Please tell us about yourself and your journey.

I certainly did not follow the conventional way of becoming a businessman. After dropping out of high school, I started as a street vendor and hustled my way from there. That is actually where I acquired my sales skills from. I then moved on to selling life insurance and, by the age of 20, I started my own software development company.

Fast-forward a few years after, we expanded into a telecommunications company and were established in seven different countries across south-east Asia within a year. From there, I expanded into many different business areas.

At the moment, my main focus is on investing in new companies and tech start-ups. At the same time, a lot of my businesses are still operational and running by hand-picked teams, but in essence, I have adopted an active investor role rather than actively running the businesses myself. Having said that, FXPRIMUS is something very close to my heart and that's why I chose to step into the Chief Strategy Officer role; to be actively involved in the company’s future.

I plan to expand FXPRIMUS into a multi-service broker, as I believe there are many upcoming opportunities in the financial services sector. On a personal level, I am planning to continue working on early-stage companies and investing in tech start-ups as well as working for other causes that are close to my heart, like supporting different charity foundations.

What does your role entail as FXPRIMUS’ Chief Strategy Officer?

As the Chief Strategy Officer at FXPRIMUS, my job is to work with the management team to build, implement, and execute the strategy of the company. In a nutshell, I make sure the strategies are put in place and followed on with proper execution across departments. That includes exploring new markets that we can expand our reach and services to.

You’ve been around private investment firms, hedge funds and fintech overall for over a decade, as both an investor and a founder; how has that influenced you and your approach when putting new strategies in place? 

Being on both sides of the table, as both an operator and an investor, has given me a fresh and unique perspective on how to strategise a business, depending on the role of the business itself. I now understand how people perceive a business. Sometimes as a businessman, you are so focused on your business and love it so much, that you often become incapable of recognising its flaws; ultimately this becomes a destructive force. Therefore, even though I own and run businesses and they are all close to my heart, being in the fintech world has kept me objective and not blind to the flaws any business might have.

Bearing that in mind, how did FXPRIMUS become the powerhouse it is today over the past decade?

What has shaped FXPRIMUS into what it is today is not just me. In any business, there is always a single person who leads the company but it takes a team to build and grow the business into what it can become. The same way I recognise the influence I had in the company, so do all the other partners and employees. My past experiences have taught me that if you want to build a successful business you need to make sure that you have the right team next to you and you need to keep them motivated and properly supported. As a result, our customers can experience this through the day-to-day services that they receive.

It’s apparent from your previous and current ventures that you are an advocate for a healthy and inclusive working environment. How much of that goes into shaping the culture of your workspace and the relationship between employer and employee?

I firmly believe that people do not leave their jobs, they leave toxic environments. If you have an environment within the company that is not conducive for people to perform really well, then you will eventually lose valuable team members. Therefore, having an open communication channel with everyone and making sure that people are genuinely happy coming to work every day is key.

As a business owner, I want everyone to take ownership of the business but that can only be achieved if people feel that they are appreciated and they are part of a team which values them. Happy people are always productive and this is what we are working towards every day.

What are some of the achievements you are most proud of?

There’s certainly a lot to be proud of at FXPRIMUS! One thing that stands out the most is our ability to thrive with our partners while watching them and their businesses grow through the years. Being able to support them and see them thrive is truly rewarding. Small businesses are now bigger and their owners have what other people dream of.

On a personal level, coming from humble beginnings and being blessed with a successful career, I don’t really think about notable achievements. Rather, I like to think that every day I wake up and do something, that is an achievement by itself. I feel blessed that I am in a place where I am able to work with other people and help them achieve their dreams, which is exactly the reason why I love working with tech start-ups and young companies. And because I know how hard it is when you start, to me, this is my way of giving back. Hence, it is not about achievements, it is all about fulfilment.

How have you watched the industry change over the course of your career?

There have been some major changes in the industry in the last decade. Particularly, the high barrier to entry has lowered significantly. Traders grew and so did their skillsets. We see more and more sophisticated traders coming up, with a different mentality and a higher educational level and this is definitely a challenge for new companies if they are not able to provide the right kind of services.

As a serial entrepreneur, you have been involved in many different projects and start-ups. What does the future hold for Manmohan the entrepreneur?

Ah, I wish I had a crystal ball! Having come where I am in my life right now, I am still very active and there is still a lot more I want to do. I am glad to have found my passion; investing in young companies. This is my driving force and I cannot imagine myself ever retiring. Furthermore, I am really excited about what FXPRIMUS is today and where it is heading. I would say that 75% of my time is dedicated solely on working towards achieving the goals of the company.

With the above in mind, how does that tie into your plans for FXPRIMUS’ future?

We have a lot of exciting updates and new products coming up in 2021. We recently updated our internal technology and infrastructure to better enhance our clients’ and partners’ experiences.

We will be adding several new products and assets to our existing FX and CFD. ETFs, stocks, and many other instruments will be available as underlying assets, which will bring the total available instruments to trade to over 4000. We aim to transform into a full-service broker with our upcoming launches and grow as a group.

Lastly, you were just awarded Most Trusted Broker - South East Asia & Africa 2020. How does it feel?

We are extremely proud to be receiving this award. It is a great honour to be recognised for what we do as we truly feel that we are the safest broker in the industry. Such third-party endorsements help us build robust relationships with our clients and partners and strengthen our credibility.