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IIFL Fintech fund to invest ₹300cr in early stage fintech start-ups

December 24, 2021

IIFL Fintech fund to invest ₹300cr in early stage fintech start-ups

IIFL Fintech Fund is intending to put ₹300 crore in early stage Indian fintech start-ups in the following two years to work with the making of affordable products and technologies that help financial inclusion.

The fund was set up in August 2021 with ₹140 crore sponsorship from two IIFL Group firms IIFL Finance and IIFL Securities.

It has put invested into four fintech start-ups Leegality, FinBox, Trendlyne and DataSutram in the initial three months of its reality and is in advanced phases of discussion to invest into 10 additional before the end of the current fiscal.

There is always need for early stage funding to nurture the fintech startup environment, said R Venkataraman, co-promoter of IIFL Group and executive of IIFL Securities Ltd.

“Fintechs play a big role in making cost effective delivery of different financial products to the underserved and unbanked clients and help in accelerating up the financial inclusion process,” he said.

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