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IIFL launches Rs.100-Cr fund to invest in early-stage fintech startups
Mumbai-basedIIFL Group has created a dedicated INR 100 crore early-stage fund to invest in Indian fintech startups. The financial services group, which has a large retail interface, is aiming to offer last-mile credit with the help of cost-effective technologies. IIFL Group will also provide mentoring, collaboration and partnerships to fintechs under the stewardship of its top management. IIFL has earlier invested in Trendlyne, a popular market data platform, which was a part of IIFL Disrupt before it created the fund. The fund, sponsored by IIFL Finance and IIFL Securities, is already in talks to invest in a few more fintech companies, including Leegality and FinBox.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.