Mumbai FinTech Hub, an initiative by Government of Maharashtra to execute the Maharashtra FinTech policy and promote an aggressive FinTech ecosystem in the state, announced the launch of its platform FInD (FinTech Investments and Deals). With the objective to bridge the gap between investors and startups, with respect to funding, FInD will not only catalyse exposure to capital but also help to align partnerships between FinTechs, investors and partners from around the globe.
Startups can apply for the FInD programme from June 17, 2019. Investor on-boarding has already begun.
Mumbai FinTech Hub has identified access to capital and talent pool as major focus areas to achieve its vision of converting Mumbai into a global FinTech hub. FInD acts as a continuous matchmaking digital platform that brings together global investors, FinTechs and partners. The program is powered by PwC and Medici and the other program partners are Aimcrest, NASSCOM, IVCA, FCA and PCI.
The program entails a democratised digital investment platform that not only enables investments into FinTech start-ups (Seed, Pre-Series A, Series A, Series B+) but also assists these FinTechs to form partnerships with corporates and incumbents. The startups undergo an in-depth screening of B-Plans and other relevant information through an evaluation framework by Mumbai FinTech Hub. A list of these meticulously curated startups is shared with the investors, which enables faster decision making and directly connects them with the qualified startups. Simultaneously, FinTech startups are exposed to a wider network of local and global investors and corporates.
Ms. Suniti Nanda, Chief FinTech Officer, Mumbai FinTech Hub said, “FInD is yet another initiative by Mumbai FinTech Hub to foster our vision of making Mumbai a global FinTech Hub. The unique value provided by the programme makes it crucial for all stakeholders involved and helps unleash the true potential of India’s FinTech ecosystem. Providing access to capital and global/home-grown investors will eventually put us on the world map for fostering next-gen innovation and creating globally competent firms.”
Mumbai FinTech Hub aims to host 3-4 sprints every year for the same.