Fintech Startups to spot raise pre Series A up to $1M at India FinTech Festival 2020

Fintech Startups to spot raise pre Series A up to $1M at India FinTech Festival 2020
06.02.2020 07:03 am

Fintech Startups to spot raise pre Series A up to $1M at India FinTech Festival 2020

FinTech StartUps

India FinTech Festival (IFF) 2020, India’s first homegrown global platform to drive Fintech innovation in the country has opened applications for its marquee show ‘FInD the next Unicorn’, giving a chance to Indian consumer fintech startups to spot raise pre Series A up to $1M.

IFF 2020 is being presented by Mumbai Fintech Hub (Government of Maharashtra), Ministry of Electronics and Information Technology (MeitY), National Payments Corporation of India (NPCI) and Fintech Convergence Council (FCC) on March 4 and 5 at MMRDA grounds, Bandra Kurla Complex. The event is supported by Department of Financial Services, NITI Aayog, Invest India, Digital India, World Bank and UNCDF (United Nations Capital Development Fund). Medici is the program partner for the IFF 2020.

Similar in concept to the popular American TV series Shark Tank, ‘FInD the next Unicorn’ is a fast-paced, business reality event to showcase India's top ten early-stage FinTech startups looking to raise funding from a panel of five marquee investors.

The eligibility criteria for the application includes:

·         Must be an India-based start-up

·         Should be looking for less than or equal to $1M

·         Must have a consumer-facing product

·         No ideation stage, must have a product

·         Must have some positive revenue generation

A five member jury is to shortlist 20 applicants for a closed door semifinal, slated to be held in mid-February in Mumbai. Of the 20 startups, 10 will be selected to present their idea at the finale to be held at the India Fintech Festival on March 5.

“India has been home to 25 Unicorns and we believe that the zest from the fintech startup ecosystem will help us discover more start-ups that can take the number to 100 by 2025. FInD the next Unicorn is borne out of this zeal to discover such ideas and people and take them to the next level. In addition to the spot funding commitment, FInD the Next Unicorn will also give a massive exposure to these startups by bringing them to the centre stage of the fintech ecosystem and help them get noticed by more investors who are willing to support them,” said Suniti Nanda, Fintech Officer, Mumbai Fintech Hub, Government of Maharashtra.

During the finale each of the 10 shortlisted startups will get 10 minutes to present their ideas to an audience of 1,500 people and spot pitch to a marquee investor panel of 5 members including the likes of Mr. Amrish Rau, India CEO of PayU and Mr. Sanjay Mehta, Founder and Partner of 100x.vc.  An on-the-spot funding commitment of up to $1M will be made by the panel in the startup whose idea is found to be the most convincing.

For more information is available on the FInD the next Unicorn webpage.

With 100+ speakers, 5000+ attendees, 25+ participating countries, India FinTech Festival 2020 is the biggest homegrown fintech event in the country. The event serves as a representation of the best of the innovations of over 2000+ Indian startups working to make India a $5 trillion economy by 2024, due to the critical aspect financial services play in the progress of an economy.

Related News

Barclays Accelerator powered by Techstars

The... Read more »

Zortrex launches Zortrex Token Vault

Edinburgh-based Zortrex, a disruptive data security start-up, has launched Zortrex Token Vault. Designed to help organisations reduce the cost and complexity of protecting... Read more »

London Blockchain Firms Raise over $500 Million in Equity Funding since 2013

Analysis of global startup hubs by Outlier Ventures, as part of London Blockchain Week has revealed that London may be one of the most preferred hubs for blockchain start-... Read more »

Bitfinex & Tether CTO to reveal "The Story of Tether” during an industry-first keynote at the CryptoCompare Digital Asset Summi

Tether has fuelled the growth of digital assets since it was founded in 2014 and today accounts for over 75% of all Bitcoin trading volume. At London’s ... Read more »

B-Social announces new funding round of £7.8 million

London fintech B-Social has completed a Seed 2 funding round of £7.8 million as it continues its push to become a fully-licensed bank.

Nazim Valimahomed... Read more »

Rabo Frontier Ventures Commits to Speedinvest 3

Rabo Frontier Ventures (“RFV") has committed to Speedinvest’s new fund (Si3). With its latest fund Speedinvest aims to build a portfolio of 80 to 100 investments in European... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel