Six Startupbootcamp stars secure sweet deals in India
Six graduating start-ups from Startupbootcamp FinTech Mumbai have secured pilots with banks and corporates such as RBL Bank, ICICI Bank and State Bank of India (SBI).
At Startupbootcamp’s demo day at the Royal Opera House in Mumbai, 11 start-ups showcased technologies in financial services to more than 400 guests. Propositions included SME banking, blockchain, digital payments, and personal finance management.
Adrian Johnson, MD at Startupbootcamp FinTech Mumbai, says: “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 11 firms who took the stage were (bold indicates it secured a pilot):
- Bitgram: A customer trust “SuperIdentity” protocol for corporates, which uses a blockchain base to ensure data integrity. It has secured pilots with ICICI and RBL.
- Canopi: Offers SMEs working capital loans using their unpaid invoices. It “will soon secure its partnership with RBL”.
- Doboz: Provides merchants/companies with a custom currency and loyalty programme. It has partnered with ICICI and RBL.
- Expowealth: Lets retail investors invest in mutual funds by offering commission-free investment advisory and fulfilment.
- Greendeck: Offers “Pricing-as-a-Service” to helps businesses price products and services. It has secured a pilot with online gaming firm Games2Win.
- Manage My Fortune: Online wealth management marketplace for individuals to invest under the guidance of Securities and Exchange Board of India (SEBI) advisors.
- mTrakr: Personal finance tool – it has secured a pilot with ICICI.
- Propelld: Provides education loans to students with limited credit history.
- Quickkloan: Offers credit scoring analytics-based marketplace for loans.
- Rupie: Mobile only and self-service micro finance solution for “urban, unbanked people”. It has secured a pilot with RBL.
- Zilra: Cross-border payment processor for freelancers. Helps Indian freelancers and small businesses receive payments from overseas clients.
Upon completion of the programme, these 11 will be supported by Startupbootcamp’s alumni growth programme as they expand their businesses and look to raise funds.
Launched in 2014, Startupbootcamp FinTech is an accelerator focused on innovation for the financial services industry. Based in London, Singapore, New York, Mumbai and Mexico City, each programme is supported by a network of partners, as well as a mentor and alumni network from more than 30 countries.
In India, it is supported locally by ICICI Bank, RBL Bank, Capital First, ICICI Lombard, PwC and AZB & Partners.
