June 2, 2017 (Mumbai) – Startupbootcamp FinTech Mumbai, the leading global accelerator focused on innovation for the financial services industry, hosted its first Demo Day at the Royal Opera House in Mumbai. Out of the 11 startups graduating from the Startupbootcamp FinTech Mumbai Cohort, 9 start ups have already secured pilots with leading banks and corporates such as RBL Bank, ICICI Bank, SBI and Games2Win. The Demo Day brought together leading BFSIs, VCs, Angel investors, as well as Startupbootcamp’s extensive mentor network.
The 11 start-ups that took to the stage showcased original technologies in financial services, with propositions ranging from block chain based identity solutions to and AI driven investment management solutions.
Upon the completion of the program, these 11 start-ups will be supported by Startupbootcamp’s alumni growth program as they expand their businesses and look to raise funds. With initiatives such as alumni summits, enabling one-to-one meetings with investors, and access to leading technology and industry conferences, Startupbootcamp will assist these start ups in navigating the next steps of their company’s growth.
The Demo Day drew in more than 400 guests, including investors from Nexus Venture Partners, Lightspeed Ventures and IDG Ventures, among others and experts from the FinTech ecosystem. By connecting FinTech companies with its partners, mentors and industry network, Startupbootcamp is at the forefront of enabling collaborative innovations in the Indian FinTech ecosystem.
Commenting on the conclusion of the Startupbootcamp FinTech Mumbai program, Adrian Johnson, Managing Director at Startupbootcamp FinTech Mumbai said:
“FinTech is a young but rapidly growing sector in 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 start-ups really demonstrates the need to address the financial need-gap of the Indian economy.”
The Startupbootcamp FinTech Mumbai Cohort has undergone an intense three-month program, where each team received personalised mentor and partner support, workshops from leading subject matter experts, and one-to-one early stage guidance from Startupbootcamp experts.
The FinTech Mumbai 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 start-ups through the program.
Girish Nayak, Chief Customer Service, Operations & Technology at ICICI Lombard said:
“It has been a pleasure for the ICICI Lombard team to work with Startupbootcamp and its cohort. We appreciate the approach of Startupbootcamp as it has corporates involved throughout the acceleration journey of chosen start-ups.”
The 11 game-changing FinTech companies who took the stage were:
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 State Bank of India.
Canopi: A technology start-up focused on disrupting the way small businesses raise working capital loans using their unpaid invoices. Canopi is in the final stages of securing a partnership with RBL bank.
Doboz: A retention-marketing platform which enables merchants/companies to create their own custom currency & loyalty program through gift cards, promo codes, reward points & referral programs — without having to build their own internal systems. Doboz has partnered with ICICI Bank and RBL Bank for their platform.
Expowealth: Expowelath re-enables retail investors to easily invest in direct mutual funds by offering commission free investment advisory and fulfilment.
Greendeck: A ‘Pricing as a Service’ start-up which helps businesses dynamically price their products and services to maximise 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. They have secured a partnership with Geojit Financial Services.
mTrakr: A personalised marketing platform powered by Machine Learning. They have secured a partnership with ICICI Bank.
Propelld: Provides quick, flexible income dependent education loans to students with limited credit history but strong earning potential. Propelld has secured a partnership with Ivy Professional School, one of India’s leading technical education providers.
Quikkloan: A credit scoring analytics based marketplace for loans. It helps new-to-bank customers apply for loads by matching their profile with lending criteria of different FI’s. Quikkloan has entered into a partnership with Paras NBFC.
Rupie: A self-service urban micro finance solution offering for urban, unbanked people. Rupie offers micro loans entirely on mobile phones, and has secured a pilot with RBL Bank and Digambar Microfinance.
Zilra: A cross-border payment solution for freelancers. It helps Indian freelancers and small businesses receive payments from overseas clients.
The 11 graduating start-ups, selected from more than 300 applications across Asia, Africa, Europe, and the Middle East, pitched their innovative business ideas to an audience comprising investors, bankers and finance experts, with the objective of attracting strategic partnerships and investments.
About Startupbootcamp FinTech
Launched in 2014, Startupbootcamp FinTech is the leading global FinTech accelerator focused on innovation for the financial services industry. Based in London, Singapore, New York, Amsterdam, Mumbai and Mexico City, each program is supported by a network of financial services partners, as well as an extensive mentor and alumni network from more than 30 countries across the globe. Startupbootcamp FinTech is part of the global award-winning Startupbootcamp, a network of industry focused start up accelerators. For more information, visit: http://www.startupbootcamp.org where you can find details about each program.
Startupbootcamp FinTech is supported locally in India by ICICI Bank, RBL Bank, Capital First, ICICI Lombard, PwC and AZB & Partners.