NSRCEL, the startup hub at IIM Bangalore, has selected
10 early-stage fintech startups for its final stage of the Fintech startup program, which will see
these firms undergo a 9-month incubation program and subsequently be eligible for a grant from
ICICI Securities (I-Sec).
The program is part of ICICI Securities’ CSR initiative under which it has committed to help fintechs
with winning ideas to come to the market. I-Sec believes fintechs have immense potential in jobs
creation and economic growth, something which is a need of the hour for India, which has a large
population entering the workforce every year.
“It is very exciting to see the fintech startups get ready for the incubation journey at NSRCEL. The
quality of the founders and the solutions they offer are really top class and real world, and I am
very confident that they will have many takers. I wish all the best to the teams and look forward to
engaging with them during their journey,” said Mr. Vijay Chandok, MD & CEO, ICICI Securities.
“As the first domain specific program at NSRCEL, we have high expectations for this final cohort. We
will do whatever it takes to get them to the next level of growth in their entrepreneurial
journey,” said Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL at IIM Bangalore.
The I-Sec-IIMB Fintech startup program was launched earlier this year and received over 240
applications from all over the country. Twenty-five firms were shortlisted for a pre-incubation
program, and from there 10 would now undergo an intensive nine-month incubation journey with a
funding from the CSR fund of ICICI Securities.
The ventures selected in this cohort are early-stage startups working in areas like trading, lending,
payments, wealth advisory, insurance tech, accounting and financial management, billing software
and auxiliary sector-logistics. During their incubation journey they will be engaged in domainspecific support through mentors, industry experts and investors in the Fintech space. NSRCEL will
facilitate networking & peer-learning sessions to explore synergies within and beyond the NSRCEL
Startup Ecosystem.
TOP 10 Ventures under Fintech Startup Incubation1-ALGOFOX (https://www.algofox.in/)
Algofox is a financial firm offering end to end solutions to create and manage wealth in stock
market. Algofox provides the following services:
- Stock market courses (NCFM/NISM Certifications) 2. Algo trading solutions and marketplace
- Health insurance, mutual funds, life insurance guidance 4. Live trading desk
2-IDOS (http://www.myidos.com/)
IDOS is an accounting & financial management software that enables you to easily manage not just
accounting, taxation and financial processes, but empowers you with data and curated reports for
decision making and analytics.
3-CREDOCHAIN (https://credochain.com/)
Credochain is a digital lending platform for banks and NBFCs to help them originate, credit assess,
process, and monitor MSME loans – all through an integrated platform.
4-HYLO CHALLENGER PRIVATE LIMITED (https://hylo.biz/)
HYLOBIZ is SME distribution value chain focussed Neobank, digitising the Receivables | Payables |
Credit Access through Seamless integrations with SMEs ERP/accounting tools and the partner banks
over the Open banking APIs ecosystem.
5- JARVIS INVEST (www.jarvisinvest.com)
JARVIS is a revolutionary strategy that ensures that the investment decision making process is devoid
of human emotions. It juxtaposes the power of Artificial Intelligence & Machine Learning with
Quantitative and Fundamental analysis of equity stocks, that enables the investment management
process to systematically uncover and exploit sources of Alpha.
6- GIMBOOKS (https://www.gimbooks.com/)
GimBooks offers an easy to use, Mobile first and cloud based Bookkeeping platform, geared mainly
towards small and micro-sized businesses in India. It uniquely offers domain- based bookkeeping, in
which the interface and features of the App are customised as per the industry the user is coming
from.
7-WEALTHEASY.AI (www.wealtheasy.ai, www.patterneffects.com)
Wealtheasy.ai helps busy individuals, who want to generate regular income from the stock market
with a small capital base. Wealtheasy.ai uses a patented framework powered by machine learning
and tested over 10 years of data to uncover hidden investment opportunities, manage risk and
automate execution with minimal screen time for users.
8- PAYMATRIX (https://paymatrix.in/)
Paymatrix enables individuals to borrow on their existing credit card for unplanned expenses or
during cash crunches and pay vendors even if they do not have a Point of Sale terminal.
9- ZIMYO (https://zimyo.com/)
ZimyoTM is a unique cloud-based HR and benefits solution for SMBs to attract and manage talent by
offering employee benefits that even their bigger counterparts cannot offer; i.e. — payday loans,
Insurance, Investments, etc.