FRAUDBATCH S20ECOMMERCE / SAAS

Bik (Bikayi)

Sequoia + YC-backed Indian e-commerce SaaS exposed for sales reps forging customer signatures on EMI contracts. Workforce cut 600 → 244 in five months.

$10.8M+

Capital Raised

7+ YRS

Lifespan

~50% layoffs (600 → 244 in months)

Body Count

AUTOPSY REPORT

Indian SaaS for kirana stores and small merchants. Inc42 obtained CEO Slack messages corroborating employee accounts that Bikayi salespersons forged signatures of merchant owners on EMI subscription contracts and sometimes paid down-payments out of their own pockets to meet weekly quotas . CEO Nathani admitted 'discrepancies' but declined to specify revenue impact. The peak-of-600 workforce was cut to 244 employees within five months. Sequoia-led $10.8M Series A had been raised on the fabricated revenue base. Rebranded from Bikayi to Bik.

DAMAGE: ~50% layoffs (600 → 244 in months)

TIMELINE

2019Founded by Nathani and Singla

2020Joins YC S20

2021-09$10.8M Series A led by Sequoia

2022-02~600 employees at peak

2022-07Inc42 publishes forgery exposé; mass layoffs follow

2022Rebrand to Bik

SOURCES

→ Inc42: Bikayi in Disarray — Forgery and Seller Exodus → YC directory: Bik

← Iron Ox (Inevitable Tech)DreamWorld →

Satirical project. Not affiliated with Y Combinator. All information from public records.