Our Bureau A fintech accelerator is backing 15 start-ups through two successful cohorts, with the new batch focussing on innovative technology domains such as cyber security, data analytics, authentication, Natural Language Processing (NLP), and lending.
Fintech accelerator Dice Fintech Ace launched its second cohort consisting of nine start-ups, taking the total to 15 from the first cohort last year, in a programme backed by financial services majors including those in the investment ecosystem such as YES Bank, TTS:IO (The Three Sisters: Institutional Office), Microsoft Ventures, as well as VC and PE funds, and foreign government trade departments.
Among the selected start-ups in the second cohort are: Aagey, a digital marketplace for MSMEs to avail different financial products from 50 plus banks and financial institutions; and Impact Guru, a fund-raising platform helping individuals and NGOs raise money for social causes via donations, almost always for healthcare purposes.
Gnani.ai, which empowers customer service through artificial intelligence and NLP-based automation was also included in the second cohort, as was Kratikal, which secures people, process and technology from cyber-attacks through its cyber-attack proprietary simulator.
The company also included Pingal, which integrates all aspects of analytics and computation engine; Sparsa, that provides simpler and stronger security without password dependency; BankBuddy, which helps financial institutions automate, analyse and assist stakeholder interactions; NeoEYED, which caters to continuous authentication and fraud-detection solution for banks; and Finbit.io, a scalable API for advanced credit analytics.
The new batch of start-ups were shortlisted from over 450 plus entries through a two-step process, including a review by an external committee, and are entitled to technical and business mentorship, access to a co-working office space as well as access to capital.
The company said the first round of cohort has witnessed good traction within a short span of time and four out of the six selected companies have already raised pre-series/series A funding.
Aparajit Bhandarkar, CEO, Dice FinTech Ace, said the calibre of talent which made it through was high and each company had a unique proposition.
Raakhe Kapoor Tandon, Founder, added the key objective in launching the programme “was to focus on re-imagining enterprise innovation through collaboration with start-ups, thereby fostering co-creation and co-development.”