PayU to launch accelerator program for FinTech startups in India

New Delhi, July 12 (KNN) PayU, India’s leading online payments solution provider is all set to launch inFINity, a FinTech accelerator for early-stage Indian startups in collaboration with Amazon Web Services India Private Limited (AWS India) and Chiratae Ventures.

inFINity accelerator is a 45 day program that brings together and supports the growth of early-stage FinTech startups by providing access to mentorship from leading industry experts, curated resources, and AWS Activate credits.

The startups will have access to PayU’s bespoke payment solutions to help them meet their industry demands. They will also have access to experts from PayU, guiding them to scale their business operations and expand their customer base.

As per reports, the Selected FinTech startups will be announced on August 17, 2023.They will receive actionable guidance on fundraising from Chiratae Ventures, and a select few startups might be presented to the Chiratae Investment Committee as well.

inFINity 2023 mentors include Anirban Mukherjee, CEO of PayU payments, Kailash Nadh, CTO of Zerodha, Nitin Gupta, Founder & CEO of Uni Cards, Prabhu Rangarajan, Co-Founder of M2P, among others, reported Express Computer.

Anirban Mukherjee, CEO of PayU India said, “PayU has a long-standing tradition of fostering innovation by supporting disruptive, early-stage start-ups. A key element of our long-term growth strategy is to develop a fintech ecosystem that will meet the diverse financial needs of Indians. Through this accelerator, we are creating a space where fintech entrepreneurs can flourish, fueling a technologically driven revolution in financial services”

Amitabh Nagpal, Head of Startup Ecosystem, AWS India said, “According to industry estimates, Asia-Pacific is set to become the world’s leading fintech market by 2030. Enabled by AWS, fintech startups in India have been at the forefront of digital financial innovations, such as mobile wallets, online investments, and robo-advisors, among others. At AWS, we offer the broadest and deepest set of innovation tools, including machine learning (ML) and artificial intelligence (AI) capabilities, to help fintechs transform their ideas into tangible solutions to drive financial inclusion and optimise customer experiences.”

“Chiratae has been a pioneer in FinTech investing, with investees such as PolicyBazaar, Fibe, Vayana Network, etc. We invest with a thesis-led approach and actively work with our startups as they solve some of the deepest financial services problems with technology, and are looking forward to discover new partners at inFINity 2023,” Mandeep Julka, Vice President at Chiratae Ventures said.  (KNN Bureau)