Online money transfer service provider, Paypal, has selected four financial technology (FinTech) startups for its Start Tank Incubation Challenge in Chennai.
PayPal’s Start Tank incubator challenge helps startups reach out to global mentors, angel investors and venture capitalists.
The incubated startups will be offered technology and business mentorship, infrastructure support and networking opportunities from both investors and customers.
Here is the list of startups selected for incubation challenge:
Founded by Akash Sinha and Reeju Datta, CashFree, enables users to pay through mobile wallet, in cash or online for the products or services delivered at their doorstep.
Founded by Vijay Krishna and Shoaib Mohammed, D-Rewards, is a cloud-based CRM tool for offline small business retailers that enables end-to-end customer engagement using loyalty as a platform for profiling. It features in-house analytics & targeted promotions, bridging the gap between the business and its customers.
Founded by Dr. N. Raja Chinnathamby Arun Nedunchezian, Notifie, aspires to be the one-stop messaging platform for a two-way business to customer communications via Smartphones. The platform supports various multimedia formats and aims to be the ideal replacement for traditional SMS. Notifie, currently, has five paying customers from the education, financial and retail industries.
Founded by Sanjeev Chandak, Deepak Kothari and Vaibhav Lodha, Ftcash, aims to empower the underserved micro-merchant sector with the power of mobile payments. It provides seamless solutions for micro-merchants to accept payments through multiple payment instruments including debit cards, credit cards and mobile wallets.
The announcement was made after the final round of pitching during the fourth Start Tank Incubation Challenge last week, which received more than 100 startup applications.
Anupam Pahuja, General Manager, Technology, Asia-Pacific, PayPal said, “All of our incubated startups so far have either successfully secured funding or are finalizing strategic partnerships.
PayPal’s Start Tank incubator was started in 2013 in partnership with The Indus Entrepreneurs (TiE). The incubator provides an obligation-free environment for early-stage startups to evolve at its exclusive facility in PayPal’s technology center in Chennai.
