Despite being one of the most funded sectors in the Indian startup ecosystem, there have been plenty of startups that have had to close operations. According to Inc42 Datalabs, Of the 2,707 fintech startups launched in India around 400 have already shut shop and one of the major reasons is the funding crunch in the initial stages.
Mumbai Fintech Hub’s FInD (FinTech Investment and Deals) is looking to bridge this gap, helping qualified startups gain access to a wider network of local and global investors.
FInD, created by Mumbai Fintech Hub (an Initiative by Government of Maharashtra), is now inviting applications from fintech startups to help them gain access to investors for fundraising, and for forging strategic partnerships with corporate entities.
Related Article: Mumbai Fintech Hub Launches FInD Investment Platform For Startups
Understanding The FInD Proposition For Startups
Launched earlier this year, the platform aims to bridge the gap between investors and fintech startups in the country with respect to funding. For the same, it has onboarded 50+ marquee investors including venture capital firms, family offices, and international investors including Blume Ventures, Indian Angels Network, SAIF partners, Kae Capital and others to help startups make direct connections with the investor community.
“Precise matchmaking by bridging the knowledge asymmetry between investors and startups to enable funding.”
Fintech startups looking to raise funding at seed, Series A, Series B and beyond stages can register on the platform where FInD partners such as PwC and MEDICI will evaluate, score and recommend these startups to the right investors. In a bid to make the fundraising process less cumbersome, the platform also offers standardised templates for startups which they can refer while drafting their pitch decks.
What Sets FInD Apart From Existing Fundraising Platforms
- The program has no carry: Unlike the existing fundraising platforms, FInD doesn’t take any cut from the amount raised on its platform.
- Strategic approach: The platform is highly curated and only the investors interested in fintech are onboarded.
- Continuous matchmaking: An ongoing match with the right investors over 3-4 sprints each year and two investment summits to celebrate success stories and facilitate networking
- Strategic partnerships: Corporations, financial institutions and banks on the platform open up opportunity for startups to directly explore synergies.
The last date for application is September 15, 2019.
The programme is mutually beneficial for fintech startups, the investors and strategic partners. Fintech startups get the opportunity to pitch their products to a curated audience and gain knowledge through workshops, while investors get access to a structured matchmaking process, and since due diligence is also part of the process, investors need not spend time and resources in doing this themselves. They can simply identify the right fintech innovation to back, depending on the market and sector needs.Apply Now!