• Over 600 applications received from across the globe
• IFTA gets bigger with Amazon Pay, PayU, CashRich, TransUnion CIBIL & Deloitte support
• Past winners have cumulatively raised over $1.5 billion
• Applications received from more than 20 countries such as USA, UK, Switzerland, Sweden, Spain, Singapore, Norway, New Zealand, Netherlands, Ireland, Germany, France, Canada,among others
Mumbai, NFAPost: India FinTech Forum, a not for profit fintech advocacy group representing Indian fintech companies, announces the list of 27 fintechs startups shortlisted for the 5th edition of India Fintech Awards (IFTA) who will be giving live demos to a high-profile jury from 30th November – 2nd December 2020 to compete for the Fintech Startup of the Year at India FinTech Awards 2020 (IFTA).
6 innovative fintech companies will compete for Fintech Scaleup of the Year award.
The “high potential” fintech startups were chosen from a pool of over 600 applications received from across the globe such as USA, UK, UAE, Switzerland, Sweden, Spain, Singapore, Sri Lanka, Norway, New Zealand, Netherlands, Ireland, India, Hungary, Hong Kong, Germany, France, Canada, Brazil and Algeria.
The India Fintech Forum has partnered with Amazon Pay, PayU, CashRich, TransUnion CIBIL and Deloitte are supporting this initiative to celebrate global fintech excellence Past winners of IFTA have cumulatively raised over $1.5 billion in funding from till date.
Best innovation
The India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate and voice opinion on the relevant policy issues. Through IFTA, India Fintech Forum aims to celebrate and recognise the best innovations from fintech companies globally.
IFTA finalists will demo innovations in diverse fintech verticals including banking infrastructure, artificial intelligence (AI), digitallending, cryptocurrency, RegTech, roboadvisory, digital identity,payments, InsurTech and more.
Every year hundreds of fintech startups from across the globe apply for IFTA, and go through two rounds of shortlisting by event partners, startup accelerators and experts from the sector.
Finance & tech
The finalists get an opportunity to demo their innovation in front of a distinguished Panel of Judges comprising of eminent thought leaders from the finance and technology space. After careful deliberation on numerous strong applications, 27 firms have been shortlisted to present at IFTA. Winners of past editions of IFTA include well-known names like Capital Float, ZestMoney and Valocity Global.
“Valocity Global was very impressed with the IFTA Forum by the breadth and depth of attendees and especially the wide range of innovative attendees coming from all over the globe. What a great opportunity to collaborate and network”, says Carmen Vicelich, CEO and Founder, Valocity Global and winner of IFTA Fintech Startup of the Year 2019.
Out of the 27 shortlisted startups, 10+ are registered in India. IFTA is proud to present the finalists for Fintech Startup of the Year 2020: AssetVault (United Kingdom) – AssetVault provides digital legal and financial products (eWills, Insurance referrals and eTrusts) to financial institutions to help them better retain existing customers and acquire new ones.
Shortlisted startups
Bambu (Singapore):Bambu is a B2B Fintech company, which develop tech for financial institutions. It is platform helps users save and invest for their future. They plan to make the platform intelligent piece-by-piece, to help people manage their spending and money everyday.
Cashfree (India):Cashfree is a payments and banking technology company based out of Bangalore. It is backed by Silicon Valley investor Y Combinator and incubated by Paypal.
Chqbook (India):Chqbook.com, a Gurugram based fintech start-up, is India’s first Neo Bank for Small Business Owners. Chqbook is helping these Business Owners through its five pillars of Lending, Credit Cards, Insurance, Accounts and Rewards.
ConfirmU (Singapore):Confirmu enables lenders to underwrite people with no credit history using a global configurable game system which is part of the borrowers loan application journey.
Crediwatch (India):Crediwatch is a data analytics platform that deploys scalable deep learning tools across disparate digital footprints left by private companies ( big and small) to provide real time insights on customers, vendors, competitors and help make farsuperior business decisions to prevent revenue leakage and increase efficiency.
DriveWealth (United States of America):DriveWealth is a financial technology firm pioneering embedded finance, fractional investing in US equities, and API-driven brokerage infrastructure. They’ve built patent-pending technology to fractionalize US equities and were the first to receive a license to do so in 2015.
Flow (Singapore):Flow is a credit management company that is transforming the business of unsecured consumer finance through AI technologies and ethical practices in the APAC region.
HAPPY (India):HAPPY is the fastest growing fully Digital Lending Fintech targeting a multibillion-dollar credit gap in India’s micro businesses, delivering flexible & easy short-term access to credit for small business owners & proprietors in urban & city settings.
HyperVerge (India):HyperVerge is a Silicon Valley based AI Company. Their AI models for real time image and video analysis lead the market on accuracy (99.5%) and are optimized for deployments in low bandwidth environments. Deep-learning networks built by HyperVerge are powering applications for large enterprise clients in Financial Services, Telecom, Energy, Security, and Defense.
Jupiter Money (India):Jupiter is India’s first & only co-created banking experience dedicated to Millenials. They’re building Jupiter hand-in-hand with their users, one thoughtful feature, honest feedback, and genius idea at a time.
Khatabook (India):Founded in October 2018, Khatabook has become India’s leading business management app for MSMEs with 20M+ downloads in a remarkably short period of time.
Leegality (India):Leegality is an eSigning and Document Workflow Platform. They help businesses digitize, optimize and automate Documentation Processes- by helping them eliminate reliance on paper.
Lokyata (United States of America):Lokyata helps digital lenders grow and helps traditional lenders become digital lenders. Their novel and repeatable approach to building a data strategy and executing it on their managed services AI lending platform produces results.
MODIFI (Germany):MODIFI, empowers Small and Medium-Sized Businesses to trade internationally with digital trade finance. It makes Trade Finance flexible, easy and transparent and help their partners to grow their business and give them peace of mind.
MyEarth.ID (United Kingdom):MyEarth.ID is working towards a vision of providing Universal Identity to all Human Beings on Earth; providing seamless access to Global Services, in a secure and borderless way
Nearby Technologies (India):Incepted in April 2016, Nearby Technologies is a fintech company offering financial/non-financial services to the underbanked and unbanked segment. Nearby Technologies works on a B2B2C model through its various brands – PayNearby, Insure Nearby, BuyNearby, and few more.
Novopay (India):Novopay enables millions of consumers to remit money, withdraw money, make payments, and avail a variety of banking and consumer related products and services on their merchant network.
Open (India):Open is Asia’s first neobanking platform for SMEs and startups. They are on a mission to deliver a truly seamless business banking experience and make managing finances a breeze.
Payswiff (India):Payswiff is the leading Indian International Fintech player that provides omnichannel electronic payments acceptance solutions to Enterprises, SMEs, Banks, and Mobile Service Operators. Payswiff is a payment facilitator, provider of outsourcing and white label solutions for electronic payments.
Recko (India):Recko is on a mission to streamline every reconciliation flow in the transaction lifecycle and unlock massive efficiency and accuracy gains. They are building products which enable them to handle and monitor massive volumes of transactional data without writing a single line of code and ensure money is flowing between the right beneficiaries, with right deductions and in the right time.
SalaryFits (Brazil):Salaryfits aims to make sustainable credit a reality. Their solution consists of a BI tool to integrate fastly and efficiently the offers from local financial providers to the payroll systems of entities, allowing those providers to better access the credit profile of the employees of those entities.
Simpl (India):Simpl empowers merchants to build trusted relationships with their customers one transaction at a time through one-click checkout, personalized PoS credit and intelligent loyalty rewards.
Tala Security (United States of America):Tala prevents client-side attacks like Magecart, XSS, code injections and session re-directs. Their innovative solution is designed to secure customer data and ensure data privacy, without degrading site performance or top-line revenue.
TECH5 (Switzerland):TECH5 is a Swiss Technology company headquartered in Geneva, Switzerland with subsidiary offices in the USA and ASIA, and is in the business of designing, developing and distribution of Identity Management solutions using Biometrics.
WazirX (India):WazirX is India’s most trusted cryptocurrency Exchange. WazirX has been built by a team of hardcore traders and passionate blockchain believers. They are on a mission to involve every Indian into the Blockchain revolution.
Xtracap Fintech (India):Bridge2Capital is registered domain of Xtracap Fintech.The supply chain finance model on the principles of ‘reverse factor’ is built on the strengths of trust, entrepreneurship and managed by high level technology intervention. IFTA is proud to present the finalists for Fintech Scaleup of the Year 2020:
Asset Vantage (United States of America):Asset Vantage (AV) is a next-gen technology platform that automates performance reporting and accounting to create a real-time, consolidated, and reconciled view of a family’s entire net worth.
BCT Digital(India):BCT Digital is driving digital transformation for Banks & Financial
Institutions through its risk management product suite rt360. BCT Digital focuses on the risk
management needs, and regulatory needs of the banking and finance sector (BFSI), on a global
scale.
ClearTax (India):ClearTax GST empowers MSMEs, Large enterprises and Chartered Accountants to manage their compliance and maximize tax savings. Since the launch of GST, ClearTax has equipped MSMEs with data-formalization via Invoicing, GST filing, E-way Bill and soon E-invoicing. ClearTax GST software saves taxes with the help of an AI-powered reconciliation module and reports.
OneAssist(India):OneAssist is founded with a vision to provide a ubiquitous platform for assistance & protection services to customers in areas relating to financial products, travel, household products, healthcare, gadgets etc. They provide consumers the convenience of reaching out to one place, assisting them with products, services and secure solutions making their lives easier.
Paytm Money (India):Paytm Money is 100% owned subsidiary of One97 Communications. It is the 4th consumer brand from One97 after Paytm, Paytm Mall & Paytm Payments Bank. A wealth adviser on a mission to make investing simple, transparent & accessible for millions of Indians.
Perfios (India):Perfios is a leading product technology company enabling businesses to aggregate structured and unstructured data, curate, analyze and help in decision-making. Perfios’ product offerings help companies build vertical applications across various domains.
About India FinTech Forum: The India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues.
More than 1000 fintech companies and over 20000 individuals who are members of this forum, are dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack which are not available anywhere else in the world.
