Applications for start-ups to apply for the FInD programme has started from 17th June, 2019.
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 start-ups, with respect to funding, FInD will not only catalyze exposure to capital but also aid to align partnerships between FinTechs, investors and partners from around the globe. Investor on-boarding has already begun.
Mumbai FinTech Hub has identified access to capital and talent pool among their major focus areas to achieve its vision of converting Mumbai into a global FinTech hub. Thus, 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 democratized 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 start-ups 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 start-ups is shared with the investors, which enables faster decision making and directly connects them with the qualified start-ups. Simultaneously, FinTech start-ups are exposed to a wider network of local and global investors and corporates.
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 Hubs aims to host 3-4 sprints every year for the same.