Leading global accelerator for the financial services industry, Startupbootcamp Fintech has hosted its first Demo Day at the Royal Opera House in Mumbai. Nearly 300 applications from roadshows across Asia, Africa, Europe, and the Middle East have participated the program. Only 11 startups from the Top 20 teams, were selected for the initiative.
The 11 startups showcase the technologies in financial services, with propositions ranging from SME banking, blockchain technology, digital payments, and personal finance management, among others.
The Demo Day witnessed more than 400 guests, including investors from Nexus Venture Partners, Lightspeed Ventures and IDG Ventures. Corporate bankers from the local fintech scene such as Icici Bank, RBL Bank, Capital First, Icici Lombard, PwC and AZB & Partners.
The program is backed by leading players in the Indian finance ecosystem such as ICICI Bank, RBL Bank, Capital First, ICICI Lombard, PwC and AZB & Partners, who have helped accelerate and guide the startups through the program. The selected startups will be supported by Startupbootcamp’s alumni growth program as they expand their businesses and look to raise funds.
According to PR NewsWire, the 11 fintech startups which got selected are:
- Bitgram: A customer trust ‘SuperIdentity’ protocol for corporates, which uses a blockchain base to ensure data integrity. They have secured pilots with ICICI bank and RBl bank.
- Canopi: A technology startup focused on disrupting the way small businesses raise working capital loans using their unpaid invoices. Canopi will soon secure their partnership with RBL Bank.
- Doboz: A retention marketing platform which enables merchants/companies to create their own custom currency and loyalty program through gift cards, promo codes, reward points and referral programs – without having to build their own internal systems. Doboz has partnered with ICICI Bank and RBL Bank for their platform.
- Expowealth: Re-enables retail investors to easily invest in mutual funds by offering commission-free investment advisory and fulfillment.
- Greendeck:A ‘Pricing as a Service’ startup which helps businesses dynamically price their products and services to maximize end-user value. Greendeck has secured a pilot with Games2Win.
- Manage My Fortune: An online wealth management marketplace for individuals to invest under the guidance of the best SEBI Investment Advisors.
- mTrakr: A personal finance tool that helps people effortlessly manage, save and grow their money. mTrackr has secured a pilot with ICICI Bank.
- Propelld: Provides quick, flexible income dependent education loans to students with limited credit history but strong earning potentials.
- Quickkloan: A credit scoring analytics based marketplace for loans. It helps new-to-bank customers apply for loans by matching their profile with lending criteria of different FI’s.
- Rupie: A self-service urban microfinance solution offering for urban, unbanked people. Rupie offers microloans entirely on mobile phones. Rupie has secured a pilot with RBL Bank.
- Zilra: A cross-border payment processor for freelancers. It helps Indian freelancers and small businesses receive payments from overseas clients.
Concluding the program, Adrian Johnson, Managing Director at Startupbootcamp FinTech Mumbai said, “FinTech is a young but rapidly growing sector of the Indian economy, led by an innovation-driven ecosystem, and we’ve been really impressed by propositions presented to us in the last few months. The enthusiasm, drive, and focus we’ve seen from our inaugural cohort of startups really demonstrates the need to address the financial need-gap of the Indian economy.” Read more about Indian Startup Ecosystem.