Close

Press Release

YES FINTECH: YES BANK’s Business Accelerator Program for Fintech startups picks 12 startups for its Inaugural Cohort

  • 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, LetsTalkPayments, a global platform for financial technology (Fintech) insights is the Knowledge partner

  • Startups selected from 753 Applications received from 18 countries ( and all continents) around the world after a two month long application and screening process

  • Top 35 startups were invited for an in-person demo, selection process to the YES FINTECH Accelerator Management Team

  • The 15 week Cohort will launch on March 20, 2017 : with 3 onsite weeks and the 12 offsite weeks where the startup can continue to work from its home location

Mumbai, March 17, 2017:  YES FINTECH, YES BANK’s Business Accelerator Program for Fintech Startups today 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:

  • Mentorship from industry experts on creating scalable businesses from their products and guidance to deploy their innovative technologies within a collaborative framework

  • Integrating their technologies into YES Bank’s ecosystem through:

    • Digital Infrastructure support (API Banking, BIN Sponsorship, etc.)

    • Access to Funding (through the Bank/ its  network of Investors, across PE/ VCs)

    •  

      Advisory on Go-To-Market strategies and market penetration
  • Access to YES BANK Network of 2 million + retail, 10,000 + SME and 5000 + corporate customers

  • Access to funding upto USD 1 million through VC partners without any upfront equity commitment

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:

  • SoCash: soCash is creating the largest small network of small merchants to make cash accessible beyond ATMs

  • Signzy: Signzy is creating 'building blocks for a Digital Trust system through bank-grade digital KYC, biometric enabled digital contracts and due diligence through Algorithmic Risk Intelligence

  • Rupeeseed: Rupeeseed provides capital market solutions for retail and institutional trading using robo advisory and analytics engine

  • Redcarpet: Redcarpet uses alternative social and digital Scoring for insta-credit to new to credit and non-bureau consumers. Redcarpet is a Y Combinator summer 2015 graduate

  • R1mo: R1mo is the first FX B2B marketplace in India using blockchain technology offering clients a customized distributed financial technology solution that interfaces with existing systems/processes for cross-border payments

  • Paykey: Paykey is an Israel based startup making banking simple and frictionless through an integrated in-app keyboard which gives users to make payments while using any app

  • Numberz: Numberz is simplifying running the business (Cash- flow) by Seamlessly integrating Business Workflows with Banking Services

  • Morph.Ai: Morph.ai is a complete Bot suit for enterprises, providing plug-n-play solution for companies to build powerful chatbots that can solve business use cases

  • FRS Labs: FRS Labs works on cyber security, fraud detection and identity verification using biometrics and AI

  • Click & Pay: Making payments transactions cashless, secure and flexible, Click & Pay provides users an easy payment options

  • Authme: AuthMe is using AI to  replace passwords with unique pattern technology and bring UX and security together

  • Anytime Loan: An alternate lending platform, offering consumer loans and MSME business loans using AI, Data Science, Robotics & Predictive Science tools to create Alternative Scoring and KYC models

The startups have been recognized 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.

About T-Hub:

T-Hub is India’s fastest growing start-up engine catalysing innovation, scale and deal flow

T-Hub is a unique public/private partnership between the government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and NALSAR) and key private sector leaders. T-Hub aims to forge many such partnerships with governments and corporates across the world to setup T-Bridge centres, strengthening trade relations and attracting investment into the state of Telangana.

T-Hub is one of the largest start-up ecosystem builders in India, with over 2000 start-ups in its database clustered into various stages of growth across sectors of specialization - a model of community development that is unique to Hyderabad. Such a unique model enables investors and corporates to plan programs and capacity building initiatives in a targeted and organized manner. T-Hub is also the only model where the government is working intensely with the investor and the partner to fuel innovation and facilitate enterprise. For more information about us, please visit – www.t-hub.co

About Anthill:

Anthill is a speed scaling platform for early growth stage startups. We have alliances with right partners globally among funds, family offices and accelerators and we collaborate with them to co-invest in highly scalable business ideas that have growth opportunities in Asia.

Within just two years, Anthill has built a startup portfolio of 15 companies across India, US and SE Asia that has grown by 150% in portfolio value. Anthill has been able to do this through their robust curation process to identify highly scalable startups and value creation in startups through their speed scaling services.

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

For media queries, please contact:

YES BANK
Jitesh Patel
Ph.: +91 22 3347 9753, +91 9820813570
Email: jitesh.patel@yesbank.in

Delna Irani
Adfactors
Ph.: +91 9820660467
Email: delna@adfactorspr.com

download app

Android App for YES BANK
App Store for YES BANK
yes pay wallet

Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more

Read More