Published March 17, 2017
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Yes Fintech, Yes Bank's business accelerator program for fintech startups, announced the 12 startups that are set to join its inaugural cohort. The final 12, were selected from the top 35 startups who showcased their solutions to the YES FINTECH Leadership over a 2 day pitching session. The month long application phase of the program received phenomenal response from the global community of Fintechs, with 753 applicants around the world. The Accelerator has been set up in collaboration with T Hub - India’s fastest growing start-up engine catalysing innovation, scale and deal flow and Anthill Ventures. LetsTalkPayments, a global platform for financial technology (Fintech) insights is the Knowledge partner.
The 12 startups selected from Fintech domains like Payments, Lending and Alternative Scoring Models, Insta-credit, Cyber Security, Risk Intelligence, Capital Markets and Enterprise software and cutting across technologies like Artificial Intelligence and Machine Learning, Big Data & analytics, Biometric and Alternative Authentication, BlockChain, Chat Bots, API based SaaS Solutions etc. will go through a 15 week program which will involve 3 week onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected start-ups can continue to work from the home location.
Over the 15 weeks the start-ups will receive:
Welcoming the startups into the cohort Mr. Rana Kapoor, MD & CEO, YES BANK said "YES FINTECH Accelerator takes forward YES BANK’s A.R.T model – Alliances, Relationships Technology to provide innovating banking solutions to our customers and provides start-ups a platform for creating sustainable and market ready products. We are really excited about the inaugural cohort and believe that the 15 week program will provide an ideal springboard for these 12 startups to graduate from innovative products to scalable businesses with access to YES BANK’s digital banking infrastructure as well as our robust customer network"
Commenting on the launch of the YES FINTECH cohort, Mr. Jay Krishnan, CEO, T-Hub said, "With the high level of technology disruption and the government’s drive toward a digital economy, the FinTech industry has emerged as an exciting place for start-ups to penetrate. We are honoured to partner with prestigious partners like Yes Bank and Anthill to support the Business Accelerator Program for FinTech start-ups. Given the dynamic needs of the Indian start-up ecosystem, collaborative programs like these will definitely benefit the most promising start-ups to scale with greater confidence, planning and expertise derived from sound mentorship."
At the launch, Mr. Prasad Vanga, founder and CEO, Anthill, welcomed the startups and said, "With an overwhelming response to the accelerator and after a critical evaluation, we have selected these 12 startups to be a part of the inaugural cohort.The elaborate 15 week program has been carefully designed by Anthill, T-Hub, Yes Bank and Lets Talk Payments to ensure that it helps the startups scale with speed. Moving forward, we will be engaging with the startups and providing them with all the necessary resources in terms of mentorship, operational management and access to funds."
The 12 winners, selected to the inaugural cohort are:
The startups have been recognised as disruptors and innovation leaders in their domains by various national and international agencies like MAS (central bank of Singapore), Y Combinator and IBM Smartcamp among others.
Re-disseminated by The Asian Banker