30 Oct 2020 20:20 IST

Ten fin-tech start-ups begin their journeys at IIMB-NSRCEL

The selected start-ups will undergo an intensive nine-month training with funding from ICICI Securities

NSRCEL, the start-up hub of IIM Bangalore, has selected ten early-stage, fin-tech start-ups, for a nine-month incubation programme and subsequently be eligible for a grant from ICICI Securities. The programme is part of ICICI Securities’ CSR initiative under which it has committed to help fin-techs with winning ideas to come to the market.

Domain-specific support

The I-Sec-IIMB fin-tech start-up programme was launched earlier this year and received over 240 applications from all over the country. Twenty five firms were short-listed for a pre-incubation programme, and ten of which will undergo an intensive nine-month incubation journey with a funding from ICICI Securities.

The ventures selected in this cohort are early-stage start-ups working in areas such as trading, lending, payments, wealth advisory, insurance tech, accounting and financial management, billing software, and auxiliary sector-logistics. During their incubation journey they will be engaged in domain-specific support through mentors, industry experts, and investors in the fin-tech space. NSRCEL will facilitate networking and peer-learning sessions to explore synergies within and beyond the NSRCEL start-up ecosystem.

“It is very exciting to see the fin-tech start-ups get ready for the incubation journey at NSRCEL. The quality of the founders and the solutions they offer are really top class and real world, and I am very confident that they will have many takers,” said Vijay Chandok, MD and CEO, ICICI Securities.

“As the first domain-specific programme at NSRCEL, we have high expectations for this final cohort. We will do whatever it takes to get them to the next level of growth in their entrepreneurial journey,” said Prof Venkatesh Panchapagesan, Chairperson, NSRCEL, IIM Bangalore.

Here are the top ten selected ventures:

Algofox

Algofox is a financial firm offering end-to-end solutions to create and manage wealth in the stock market. It provides services such as stock market courses (NCFM/NISM certifications), Algo trading solutions and marketplace, health insurance, mutual funds, and life insurance guidance, and live trading desk.

Idos

Idos is an accounting and financial management software that enables you to easily manage not just accounting, taxation, and financial processes, but empowers you with data and curated reports to facilitate decision making and provide analytics.

Credochain

Credochain is a digital lending platform for banks and NBFCs to help them originate, credit assess, process, and monitor MSME loans — all through an integrated platform.

Hylobiz

Hylobiz is a SME distribution value chain focussed on neobank, digitising the receivables/payables/ credit access through seamless integrations with SMEs ERP/accounting tools and the partner banks over the open banking APIs ecosystem.

Jarvisinvest

Jarvisinvest is an advisery firm that ensures that the investment decision making process is devoid of human emotions. It uses artificial intelligence and machine learning with quantitative and fundamental analysis of equity stocks, which in turn, enables the investment management process to systematically uncover and exploit Alpha sources.

Gimbooks

Gimbooks offers an easy-to-use, mobile-first, and cloud based bookkeeping platform, geared mainly towards small and micro-sized businesses in India. It uniquely offers domain-based bookkeeping, in which the interface and features of the app are customised for the user.

Wealtheasy.ai

Wealtheasy.ai helps busy individuals who want to generate regular income from the stock market with a small capital base. Wealtheasy.ai uses a patented framework powered by machine learning and tested over ten years of data to uncover hidden investment opportunities, manage risk, and automate execution with minimal screen time for users.

Paymatrix

Paymatrix enables individuals to borrow on their existing credit card for unplanned expenses or during cash crunches and pay vendors even if they do not have a point of sale terminal.

Zimyo

Zimyo is a cloud-based HR and benefits solution for SMBs to attract and manage talent by offering employee benefits . — payday loans, insurance, investments, and so on.

Payphi

Payphi is a tech-first payments company empowering businesses to provide seamless payment experiences across omni-channels. Payphi is addressing payments collection, processing and distribution requirements, in-store and on-the-go channels. This versatile platform can be used by networks, banks, processors, and large businesses.

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