1)

I would pick Arjun with the profile of CA, who has work experience with a financial firm, and
also with the idea of a start-up idea of building an international transfer remittance system.
The reasons for these combinations are given below:

Work experience and background:

As a Chartered Accountant, Arjun deeply understands financial regulations, accounting, and

compliance. He would have a deep understanding of the financial industry and the regulatory and
compliance requirements that he would need to meet. He would also be able to provide valuable
advisory services to his customers, helping them to choose the best remittance solution for their
needs. Building a remittance system involves dealing with various financial regulations and
compliance standards. Arjun's professional background equips him to handle the regulatory
aspects effectively. Also, he has knowledge of risk management, which would assist him with
practical solutions for cost accounting. A guy with working experience is always better in
execution than a freshy.

The idea and its importance:

Today, India receives over $100 billion in remittances from countries like the UAE, UK, USA,
and Saudi Arabia, which account for nearly 70% of remittances and contribute almost 3 % of the
GDP of India. Despite the progress that has been made, there is still room for improvement in the
Indian remittance market. The cost of sending money to India remains high, averaging around
5% of the transaction value. Additionally, a large informal remittance market is estimated to be
worth billions of dollars. As an effective solution, this can be an excellent opportunity to invest
in. This software can make transactions much cheaper and faster, a breakthrough to traditional
and much costlier alternatives.

There are many successful Indian entrepreneurs who are chartered accountants (CAs) and have
founded financial firms. Here are a few examples:
  Nandan Nilekani: Nilekani is a CA and the co-founder of Infosys, one of India's largest
IT companies. He also served as the chairman of the Unique Identification Authority of
India (UIDAI), which is responsible for the Aadhaar program, the world's largest
biometric ID database.
 Uday Kotak: Kotak is a CA and the founder and CEO of Kotak Mahindra Bank, one of
India's leading private banks. He is also a member of the board of directors of several
other companies, including Tata Motors and HDFC Life Insurance.
And many more chartered accountants are at the top of firms and have also formed financial
firms.

2)

Arjun should look out for all the benefits he could get from the private equity firms. But his main
focus should be on IT firms who can provide him with compliance for his idea.

The online payment systems mostly grow on Trust from their customers. People always look for
trustworthy sources to hand their money to. So, security is the primary concern to Arjun. This
can be tackled by consultation and collaboration with an IT or a firm with expertise.

Arjun has knowledge in cost accounting, risk management and transaction-related stuff, but he
should find a reliable solution for security or software. As the private equity firm will be the
stakeholder in the idea, he can provide Arjun with advisory benefits and investment. Also, he can
give the stamp of quality. He can also offer investors with testimonials from previous clients and
colleagues. A successful backend process firm can assure the customer and other investors the
safety and reliability of his idea, which is needed to gain a customer base. He should also look at
which companies he is collaborating with, which can give him the expertise that he might need
to grow and sustain.

In summary, Arjun's focus on Private Equity firms, especially those with IT and software
expertise, is well-founded. This approach allows him to address critical trust and security
concerns, leverage advisory and financial benefits, and tap into a network of experts. By
choosing the right IT partners, Arjun can lay a strong foundation for the success and
sustainability of his international transfer remittance start-up.