Fintech Yatra will disperse $100 million across 25 VCs for fintech investments
Fintech Meetup’s 5th edition of the annual Fintech Yatra will be flagged off in Mumbai from today. At least 25 VCs have tied up with Fintech Yatra 2023, which will offer $100 million in capital and identify and explore investments in the most promising fintech startups. The team this year will undertake a 12,000 km journey across 20 cities, interacting with an estimated 400+ fintech startups.
A few selected startups will be incubated via more extensive exposure to financial institutions and pilots, and the best among them will receive funding. Yatra includes renowned venture investors such as DMI Sparkle Fund, Pentathlon Ventures, IIFL Fintech Fund, BEENEXT, July Ventures, Disruptors Capital, Piper Serica, Eximus Ventures, Inflexor Ventures, Ideaspring Capital, Crowdinvest, Arali Ventures, Anicut Capital, Capital-A , Varanium, Impact Investor – Omidyar Network India and more.
Founded by Abhishant Pant, a career banker and fintech expert, Fintech Yatra has so far interacted with over 2500+ fintech startups helping them transform their ideas and access financial institutions to co-create innovative products as well as raise much-needed capital.
Abhishant Pant, Founder, The Fintech Meetup and General Partner, YAN Angel Fund, said, “We started Fintech Yatra as an experiment back in 2018 to interact with entrepreneurs and understand the entrepreneurial drive to solve big and complex problems. We have seen the growth of India’s fintech movement over the past 5 years, not just in the big cities but also at the grassroots level.We strongly believe that with the right building blocks, first-time entrepreneurs can create a superlative impact and aim to deliver the same through the Yatra and beyond.”
Fintech Yatra has so far invested in 16 fintech startups namely Onecard, M2P Fintech, Vayana Network, ShopSe, Payglocal, Riskcovry, Tartan, DataSutram, PhiCommerce, Finvu, Converj, Savart, 42 Cards, and a few more. Quite a few others are currently being mentored and are on their way to raising money.
“Fintech Yatra is India’s largest fintech outreach initiative set up for fintech entrepreneurs to accelerate their journey. Fintech is a key focus area for our fund and we look forward to adding value to some of the interesting ideas emerging from this year’s Fintech Yatra,” said Abhay Agarwal, Founder and Fund Manager, Piper Serica.
“Fintech Yatra is a great initiative for fintech startups to access all the three immediate requirements that a startup founder needs – mentoring, network access and venture capital. In addition, our association helps the most promising ideas and founders from Fintech Yatra with to scale as they go through the startup journey, says Gireendra Kasmalkar, Managing Partner, Pentathlon Ventures.
“The fintech segment has great potential to bring impact on a larger scale for all stakeholders by effectively leveraging capital and technology. An association with a program like the Fintech Yatra is a great way for us to support innovative ideas that address the large market, says TR Suresh, Managing Partner, July Ventures.
About Fintech Yatra:
The Fintech Yatra is an epic road journey that traverses the length and breadth of India to catalyze India’s fintech ecosystem by identifying, incubating and investing in early-stage fintech startups. Fintech Yatra enables the connection between innovation providers (startups) and innovation seekers (financial institutions). Fintech Yatra interacts with over 400 startups in 20 cities in 60 days.
About Fintech Meetup:
Fintech Meetup was started in 2018 with a vision to catalyze the fintech ecosystem and nurture shared value for all stakeholders. The Fintech Meetup convenes startups, founders, public bodies, strategic investors and financial institutions to learn more about the changes that will lead to the next generation of financial services. It helps startups with market validation, offers mentorship and networking and access to the international market. Investments in early fintech startups are made via SEBI-registered CAT-I AIF (Alternative Investment Fund) and YAN Angel Fund. (Yatra Angel Network). Fintech Meetup helps financial institutions find relevant startups and enable partnerships and innovation opportunities during its annual signature activity, The Fintech Yatra.
