10 Startups from IIM Bangalore’s First Fintech Incubation Program Raise Rs 25 crore Funding

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Indian Institute of Management (IIM) Bangalore’s incubation center NSRCEL organized a Fintech Festival to celebrate one year of its fintech startup incubation program. Out of a total of 240 fintech startups, the institute had selected 10 which have cumulatively raised Rs 25 crore as VC/angel funding.

The 10 startups underwent an intensive nine-month incubation journey, which concluded on August 4. Paymatrix, Zimyo, and Phi Commerce Pvt Ltd.

The Fintech Festival witnessed deliberations and discussions on the fintech industry for incubated startups and fintech enthusiasts alike.

The incubation program was launched last year in partnership with ICICI Securities, a financial firm services. It joined hands with NSRCEL, by contributing its CSR funds to support promising startups in the fintech space through a structured program.

“These endeavours are crucial at this juncture to leverage benefits from the myriad chances available to make Fintech founders future-ready and generate more employment chances. By focusing on a particular area with support from highly qualified faculty, talented learners, and industry luminaries, we can create a much stronger impact in the thriving fintech industry especially in the era of rapid digitalisation,” said Prof Venkatesh Panchapagesan, Chairperson NSRCEL at IIMB at the event.

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