Mumbai: The Digital Fifth (TDF), India’s first and only Fintech and Banking consulting firm, has announced that it has onboarded five venture capital firms: Equanimity Investments, Flourish Ventures, IIFL Fintech Fund, IvyCap Ventures Advisors, 8i Ventures (ordered alphabetically), with more to be announced soon, as its investor partners, and T-Hub as incubation partner, for its accelerator program.
The partnership is poised to energize the burgeoning fintech startup ecosystem in the country and bolster early-stage startups in the banking, financial services, and insurance (BFSI) sectors.
The venture capital firms will help in scrutinizing the startups that have been meticulously shortlisted, assessing them on the robustness of their demos and presentations during the event day. This critical evaluation will serve as a gateway for potential investment opportunities, with funding prospects extending up to a Series A round. The investors will also get the first opportunity to write the first check in the shortlisted startups.
“Bringing Equanimity Investments, Flourish Ventures, IIFL Fintech Fund, IvyCap Ventures Advisors, 8i Ventures as investors, and T-Hub as incubation partner into our fold marks a significant step for our accelerator program. Each investor brings a wealth of knowledge and resources that are crucial for nurturing early-stage ventures. Their commitment underscores the vital role of informed, supportive partners in shaping the fintech landscape of tomorrow,” said Sameer Singh Jaini, Founder & CEO of The Digital Fifth.
Amidst a climate where early-stage fintech startups are vying for visibility and capital, the accelerator program has been created to help idea and early-stage fintech get access to both quality funds and mentoring.
TDF will be unveiling its first cohort on February 7, 2024, at its second edition of the Bharat Fintech Summit, which is expected to witness over 4000 participants across the financial services industry.
The selected startups are set to benefit from a wealth of knowledge and expertise, courtesy of the mentorship by seasoned professionals at TDF. This mentorship is not just about guidance but also about facilitating critical introductions to potential investors at the much-anticipated summit, thereby enhancing their prospects of securing vital funding.
Startups inducted into the accelerator will gain unparalleled access to TDF’s extensive network, including banks, financial services, and a plethora of fintech companies. This network is crucial for startups to take their next growth leap and scale their operations significantly.
Jaini further elaborated that approximately ten startups would form the inaugural batch, will receive personalized mentoring from TDF’s premier consulting team, and will also have the opportunity to showcase their products and solutions to a host of investors at the summit. The event could serve as a launchpad for securing investments ranging from Seed to Series A funding.
TDF’s accelerator program is set to invigorate India’s rapidly expanding cadre of BFSI segment startups. Since its inception in 2017, TDF has carved a niche as a consulting powerhouse for a spectrum of financial institutions, including banks, non-banking financial companies (NBFCs), wealth management services, mutual funds, and the insurance sector.
With fintech startups in India having secured over $2 billion in funding across approximately 125 deals in the previous year alone and the total valuation of the fintech sector expected to reach $150 billion by 2025, TDF’s accelerator program is strategically positioned to contribute to this growth trajectory by nurturing the next wave of fintech innovators.
About The Digital Fifth:
The Digital Fifth stands as India’s first and Asia’s Largest Fintech consulting firm, prioritizing a Digital First approach. With an expansive expertise spanning South Asia, the Middle East, and Africa, they specialize in BFSI Advisory, Product and Program Management, and Corporate Training. Their core focus lies in driving Digital Transformation, fostering Strategic Partnerships, and implementing cutting-edge solutions across the BFSI segment. The Digital Fifth offers a plethora of services ranging across:
· Advisory services – IT / Digital / Business Strategy, Digital Transformation, Industry Benchmarking, IT Security, Strategic Partnerships between start-ups and banks.
· Complete Product & Program Management along with Implementation.
· Fintech Training across verticals like Digital Banking, Open banking, Product Management, Analytics, AI, Machine Learning, and Blockchain.
