India has emerged as one of many key international fintech hubs and can be amongst the highest three international locations with the best variety of fintech startups over the previous few years.
As per YourStory information, fintech and monetary providers startups raised greater than $7 billion throughout 239 offers – pointing to a thriving startup ecosystem.
Over the subsequent few years, many of those firms could be at development stage and Beams Fintech Fund is completely positioned to assist these development stage fintech firms in India and construct some very massive firms on the intersection of finance, know-how and providers, mentioned Navin Surya.
Beams Fintech Fund, a $100 million fund launched by India’s largest early-stage funding agency Enterprise Catalysts Group, has roped in Navin Surya, a fintech veteran and trade skilled as a Fintech Skilled Associate and Founding Member (non-executive), to assist with the fund platform technique and mentor the portfolio firms for his or her subsequent section of development.
Navin has over 20 years of expertise within the fintech house and has constructed massive companies together with ItzCash (acquired by Ebix Inc. for over Rs 1000 crore in 2016) and is at the moment the founding father of an Umbrella Entity License applicant that aspires to make digital funds easy and seamless. Navin can be the Non-executive Chairman of Fintech Convergence Council of India & Chairman (Emeritus), Funds Council of India, India. He’s additionally an investor in over a dozen tech and fintech startups.
In his function as a Fintech Skilled Associate and Advisor to the Funding Committee of Beams, Navin will probably be offering steerage for the fund platform technique, advising on potential investments, and mentorship of the Beams portfolio firms on their development plans, and total technique.
Observing the significance of Beams for a Fintech market like India, Navin Surya, mentioned, “We based Beams to fill the hole within the development stage ecosystem of the fintech house in India. Regardless of monetary providers being the most important sector in India, and fintech’s more and more partnering with banks and monetary establishments, there aren’t any fintech-focussed or fintech consultants development stage funds. Subsequently, we got down to create a platform which isn’t solely an fairness investing platform for top of the range founders and corporations, but in addition to supply an ecosystem of capital, strategic steerage, relationships, partnerships and community that all of us have constructed through the years within the monetary providers house. A few of these are distinctive to Beams past capital – which is supplied by most enterprise capital funds.”
He additional added that Beams is well-positioned as the one 100% fintech-focused platform to leverage its information on the sector and help necessities on the development phases of the portfolio firms in India.
“The fund offers a possibility to spend money on high-quality innovators who’re fixing necessary monetary providers issues for companies and customers. We’re in very thrilling instances since India is rising as a International Fintech hub and have produced a number of excessive development and excessive worth firms, we sincerely hope to speed up this journey,” he mentioned.
Beams’ aim is to develop market leaders in India’s fintech revolution by helping entrepreneurs in growing enterprise options for the monetary providers trade, disrupting the standard method of offering monetary providers to clients and enterprises. The founding group is already within the superior phases of its first shut and making a few investments, being backed by banks, NBFCs, fintechs, and marquee fintech entrepreneurs, household workplaces, and UHNIs from the Indian and international investor pool.
Beams will probably be investing in development phases of monetary know-how firms led by top quality entrepreneurs. It’ll make investments on a mean $8-$10 million in Collection B, and C rounds of fintech startups, with a goal fund measurement of $100 million, and a green-shoe choice. It goals to develop a concentrated portfolio of a dozen fintech companies in a market that’s at the moment value $75 billion and has potential for very excessive development and scalability.
Beams Fintech Fund, the nation’s first and solely India-focused Progress Capital Fintech fund offers an ecosystem, value-addition, and the capital to assist the fintech innovators for tomorrow.
Beams is co-founded by Fintech veteran Sagar Agarwal and Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain, Gaurav Jain. The founding group has invested in and helped constructed fintech startups similar to BharatPe, Dukaan, Flobiz, Esskay, Influence Guru, Suryoday, Centrum, OTO Capital, Klub, GetVantage, LenDenClub, LiquiLoans, and Junio amongst others.
Beams has a founder-first strategy, specializing in offering funding and ecosystem help to assist entrepreneurs develop massive, profitable monetary firms. It might set up a community of native and worldwide banks, insurance coverage companies, NBFCs, fintechs, mentors, and advisors to assist its portfolio firms not solely entry financing at affordable charges, but in addition speed up their development and scale technique in India and past. As well as, by the Incubate Hub, Beams would supply entry to VCAT’s 250+ portfolio firms and 195+ corporates for partnership alternatives which might be distinctive to Beams’ fund portfolio firms.
