PayU, AWS India And Chiratae Ventures To Launch Fintech Accelerator According to an official statement by the company, it is a 45-days program that brings together and supports the growth of early-stage fintech startups by providing access to mentorship from leading industry experts, curated resources, and AWS activate credits
By Teena Jose
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Online payments solution provider PayU has collaborated with Amazon Web Services (AWS) India, a cloud platform, and venture capital firm Chiratae Ventures to launch a fintech accelerator for early-stage Indian startups called inFINity .
According to an official statement by the company, it is a 45-days program that brings together and supports the growth of early-stage fintech startups by providing access to mentorship from leading industry experts, curated resources, and AWS activate credits. It also added that inFINity 2023 mentors include Anirban Mukherjee (CEO of PayU payments), Kailash Nadh (CTO of Zerodha), Nitin Gupta (founder and CEO of Uni Cards), Prabhu Rangarajan, (co-founder, M2P), among others.
"PayU has a long-standing tradition of fostering innovation by supporting disruptive, early-stage startups. A key element of our long-term growth strategy is to develop a fintech ecosystem that will meet the diverse financial needs of Indians. Through this accelerator, we are creating a space where fintech entrepreneurs can flourish, fueling a technologically driven revolution in financial services," said Anirban Mukherjee, CEO, PayU India.
Selected FinTech startups will be announced on 17th August, 2023 as the first cohort of inFINity to receive training and mentorship sessions. The startups will have access to PayU's bespoke payment solutions to help them meet their industry demands. They will also have access to experts from PayU, guiding them to scale their business operations and expand their customer base, the statement added.
Furthermore, it added, they will get to build a strong technical foundation with expert guidance from AWS, and up to $25,000 in AWS Activate credits to access over 200 fully featured services on AWS. The cohort will also receive actionable guidance on fundraising from Chiratae Ventures, and a select few startups might be presented to the Chiratae Investment Committee as well. In addition to mentorship from domain specialists, they will also have lifetime access to the resources of the inFINity community.
"Enabled by AWS, fintech startups in India have been at the forefront of digital financial innovations, such as mobile wallets, online investments, robo-advisors, among others. At AWS, we offer the broadest and deepest set of innovation tools, including machine learning (ML) and artificial intelligence (AI) capabilities, to help fintechs transform their ideas into tangible solutions to drive financial inclusion, and optimize customer experiences. inFINity accelerator is designed to enable early-stage fintech startups to build a strong technology foundation, accelerate their journey, and propel their growth," said Amitabh Nagpal, Head of Startup Ecosystem, AWS India.
