The Digital Fifth (TDF), a fintech and banking consulting firm, has announced that it has onboarded five venture capital firms: Equanimity Investments, Flourish Ventures, IIFL Fintech Fund, IvyCap Ventures Advisors, 8i Ventures as its investor partners, and T-Hub as incubation partner, for its accelerator programme.
The venture capital firms will help in scrutinising the start-ups that have been meticulously shortlisted, assessing them on the robustness of their demos and presentations during the event day. This critical evaluation will serve as a gateway for potential investment opportunities, with funding prospects extending up to a Series A round. The investors will also get the first opportunity to write the first check in the shortlisted start-ups, the consulting firm added in its statement.
Amidst a climate where early-stage fintech start-ups are vying for visibility and capital, the accelerator program has been created to help idea and early-stage fintechs get access to both quality funds and mentoring, it added.
"Bringing Equanimity Investments, Flourish Ventures, IIFL Fintech Fund, IvyCap Ventures Advisors, 8i Ventures as investors, and T-Hub as incubation partner into our fold marks a significant step for our accelerator program. Each investor brings a wealth of knowledge and resources that are crucial for nurturing early-stage ventures. Their commitment underscores the vital role of informed, supportive partners in shaping the fintech landscape of tomorrow,” said, Sameer Singh Jaini, founder and CEO, of The Digital Fifth.
TDF will be unveiling its first cohort on February 7, 2024, at its second edition of the Bharat Fintech Summit which is expected to witness over 4000 participants across the financial services industry.
Start-ups inducted into the accelerator will gain unparalleled access to TDF's extensive network, including banks, financial services, and a plethora of fintech companies. This network is crucial for startups to take their next growth leap and scale their operations significantly, the release added.
Jaini further elaborated that approximately ten start-ups would form the inaugural batch, will receive personalized mentoring from TDF's premier consulting team, and will also have the opportunity to showcase their products and solutions to a host of investors at the summit. The event could serve as a launchpad for securing investments ranging from Seed to Series A funding.
With fintech start-ups in India having secured over $2 billion in funding across approximately 125 deals in the previous year alone, the total valuation of the fintech sector is expected to reach $150 billion by 2025.