- The program aims to invest in budding Rural Fintech Start-ups
- Budding entrepreneurs from Tier 2 & 3 towns to benefit from the program
- An incubation mission of guiding & supporting innovative start-ups in Maharashtra
PUNE: To provide acceleration to semi-urban and rural fintech start-ups, LenDenClub Alpha has commenced its initiative of the ‘Bharat fintech program’ starting in Pune. LenDenClub Alpha, a corporate venture capital (CVC) of LenDenClub, started this remarkable program in Mumbai last month. Currently, the program runs in Gujarat, Maharashtra, Telangana, Karnataka, Tamil Nadu, Kerala, and Rajasthan. With a series of events conducted across the country, it now has more than 500 participating start-ups eagerly waiting to be a part of the incubation program.
Various webinars were held to impart knowledge to aspiring start-up founders to bridge the knowledge gap between urban and rural start-up aspirants. The recently held Pune event by LenDenClub Alpha and Startup Réseau had prominent leaders from the FinTech ecosystem, such as Sudin Baraokar, a noted Digital Transformation Advisor; Gireendra Kasmalkar who is the Founder Director of Ideas To Impacts, Prashant Mane who is the Client Services Director at FIS and Sachin Koti who is a veteran in the FinTech industry.
The program strives to uplift the new-age aspiring start-ups mushrooming in the FinTech domain in the hinterlands of India. It will focus on mentoring, guiding, and supporting required investments in these start-ups to accelerate their growth. A corpus fund for investment has also been set up for the same. Among the start-ups that participated, more than 30% were in their Proof of Concept phase, while less than 15% were in their ideation phase.
Rajat Sinha, Principal at LenDenClub Alpha, said, “Pune has witnessed tremendous growth in the number of start-ups in the past few years. With over 6,000 FinTech start-ups in India, valued at roughly $50 billion in 2021, it is expected to grow to $150 billion by 2025. Pune is one of the top 100 global clusters of inventive activity. We are
on a mission to identify the most innovative businesses in this city, which center for research and education.
We plan on aiding aspiring start-ups with the exemplary leadership, capital, and direction required to function and support the people of Maharashtra. Our goal is to act as a catalyst and provide the necessary aid to the start-ups that helps them grow and innovate products or services for the benefit of the customer at large. Further, we hope our investment corpus will contribute to nation-building by boosting the fintech start-up ecosystem.”
The program encourages innovation and inclusion in non-metropolitan regions. It will help young companies that need funds, assistance, and direction to create new products and expand to new markets. However, anyone building a startup in Fintech from across the country can apply for the program.
LenDenClub Alpha will also run start-up engagement drives in other states to amplify the program’s reach.
 of LenDenClub, started this remarkable program in Mumbai last month. Currently, the program runs in Gujarat, Maharashtra, Telangana, Karnataka, Tamil Nadu, Kerala, and Rajasthan. With a series of events conducted across the country, it now has more than 500 participating start-ups eagerly waiting to be a part of the incubation program.){kind=link}