Business Accelerator Programme YES FINTECH Picks 12 Startups For Its Inaugural Cohort
Ambika Chopra November 18, 2016
YES Bank’s business accelerator programme, YES FINTECH has announced the name of 12 startups that will join its inaugural cohort. The Cohort will launch on March 20, 2017, where selected startups will go through a 15 week programme. It will involve three weeks of onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected startups can continue to work from the home location.
Commenting on the launch of the YES FINTECH cohort, Rana Kapoor, MD and CEO, YES Bank said, “YES FINTECH Accelerator takes forward YES Bank’s ART model – Alliances, Relationships Technology, to provide innovative banking solutions to our customers and provides startups 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.”
The final 12 fintech startups were selected from the top 35 startups who showcased their solutions to the YES FINTECH Leadership over a two day pitching session.
What Startups Will Receive:
- Mentorship and guidance from industry experts 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.) and 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’s network of 2 Mn+ retail, more than 10,000 SMEs and over 5000 corporate customers.
- Access to funding upto $1 Mn through VC partners without any upfront equity commitment.
The selected fintech startups are from the 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 and analytics, biometric and alternative authentication, blockchain, chatbots, API based SaaS solutions etc.
Here is the list of 12 startups who got an entry ticket for the 2017 YES FINTECH programme:
SoCash: soCash is cash management platform for banks. It creates small network of merchants to make cash accessible beyond ATMs.
Signzy: Signzy is creating ‘building blocks for a digital trust system through its products Digital Know Your Customer (KYC) APIs and digital contracting. Signzy’s APIs assist companies to comply with RBI’s KYC norms and AML/CFT guidelines by using artificial intelligence.
Rupeeseed Technology Ventures Pvt. Ltd: Rupeeseed is a technology enterprise company founded in 2011. It provides capital market solutions for retail and institutional trading using robo advisory and analytics engine. Its aim is to add value to the existing business and help the organisation with robust and innovative products which can enhance their revenue streams with the help of their mobile app.
RedCarpet: Founded in 2015 by Abhay Tamaria, Sandeep Srinivasa, and Kartik Venkataraman, RedCarpet provides instant credit scoring and enables purchase financing using advanced AI. The Y Combinator summer 2015 graduate startup helps users to avail instant credit for online purchases. Users can even buy any product from any site and pay back in easy installments.
R1mo: R1mo claims to be first FX B2B marketplace in India using blockchain technology. It offers its clients a customised 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 allows users to make payments while using any app.
Numberz: Numberz is simplifying running the business (cash-flow) by integrating business workflows with banking services. According to its official website, the startup offers business owners a common-sense approach to cash flow management.
Morph.Ai: Founded in 2016, Morph.ai is an end-to-end solution that helps companies to make their services available over messengers, websites and apps. It 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: The Bengaluru-based FRS Labs works on cyber security, fraud detection and identity verification using biometrics and AI.
Click & Pay: Click & Pay enables its users to make payments across offline stores, at restaurants and for all modes of commuting by offering the deals before they pay. It makes transactions cashless, secure and flexible by providing users an easy payment option.
Anytime Loan: The startup is an alternate lending platform, offering consumer loans and MSME business loans using AI, data science, robotics and predictive science tools to create alternative scoring and KYC models.