The man his family gave him 90 days to leave his country and create a fortune in another country
- Susan Burn
- business reporter
Parach Davdra is excited about the new Harley Davidson that is waiting for him in a friend’s garage.
He insists that this is not a sign of the typical “crisis of the 1940s”. This is a wedding gift your new wife just gave you.
You only need one more test to get your driver’s license to be able to do it get the bike To walk the streets of London and access all your meetings.
President and co-founder of the exchange company Rational FX, which recorded profits of more than $1.3 billion last yearYou have a completely different life than your ancestors.
Your grandparents should have done that fleeing uganda In 1972, when Governor Idi Amin gave Asian residents 90 days to leave the country.
“They came to the UK with just $70,” says the businessman. “My grandfather used to do his own tailoring, but they had to give up everything.”
His family bought a house in Harrow, North London, and his father got a job as a salesperson and later as a controller at a money-exchange company.
“They never gave us anything,” Devdra says. “If I wanted something, I had to earn it.”
Since I was 16 years old, I have been working during the summer holidays at a mobile phone company or at TelesalesWhen he was in college he helped his father with various tasks.
Stady Marketing and computer scienceBut he acknowledges that technology is not something that comes naturally to him.
“I’m always the guy who calls the technicians to get my tablet connected to the printer,” he laughs.
Once he graduated in 2003, he joined his father’s company currency brokerHelping clients to buy and sell large amounts of foreign currency.
He worked on it for about a year, until he met his friend, Rajesh Agrawal, for coffee, and they decided to start a business together.
The idea was to guide customers who want to buy Homes abroad On the subject of currency exchange.
“Everything we did at the previous company was manual, but we thought we could provide the same services online,” says Davdra.
However, they had to face a major challenge: money.
Davdra had barely graduated from college for a year and had already applied for credit Buying a BMW.
When he took his business plan to the bank to ask for a $13,000 loan, they refused. A few days later he returned to the same bank and asked for a loan of 26 thousand dollars to buy a car.
The bank said yes.
says the 37-year-old businessman, who also moved in with his partner to Save the rent.
They raised about $40K between the two of them, and launched international forex broker, Rational FX, in 2005.
Like all startups, the next step was to attract customers.
“We were on the phone, making proposals to real estate brokers, and we went to all the real estate events that were around,” Devdra recalls.
“We were in the office all day and kept working at night.”
The leap in business came when they signed an agreement with several real estate brokers They were selling real estate in Dubai.
But two years after the establishment of the company, came 200 financial crisis8.
“I was 27, the business was making amazing profits and I was on the right track become a rich person. That’s all I had in mind.”
RationalFX has experienced a downturn in the markets and its growth has slowed. But he managed to cope with bad weather and decided to diversify.
Its clients today range from high-income individuals who want to buy real estate or invest, to medium-sized businesses, such as those that export cars or import textiles.
At the moment, there are no plans to sell RationalFX, although investors have tried to buy it on several occasions.
“Our brands are still growing and still young,” says Davdra. “You have to wait for the right opportunity.”
And despite all the money she’s made, Davdra says she has Feet in good shape on the earth.
I think we are very humble. We are a working class and do ordinary things. This is how they raised us.”
“Award-winning zombie scholar. Music practitioner. Food expert. Troublemaker.”