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12 Fintech Startups Selected for Village Capital’s Finance Forward India 2020 Accelerator

October 5, 2020 (Washington, DC) Village Capital today announced the 12 early-stage fintech startups that were selected to take part in Finance Forward India 2020. An accelerator program, Finance Forward India 2020 will provide the startups with a total of 9 weeks online on improving their business models and making their solutions available to those who need them most in the current economic climate.

Finance Forward India 2020 is a part of a multi-year global coalition led by founding partners MetLife Foundation and PayPal to support entrepreneurs building tech-enabled solutions to challenges around financial health.

Each startup selected for the accelerator will work closely with mentors representing potential customers, partners, advisors, and investors they need to scale their impact using tools developed to help their self-evaluation, such as Village Capital’s Abaca

“Workers and small business owners in India are facing one of the most challenging economic outlooks in years,” said Shreyansh Chandak, Manager-Program and Partnerships, South Asia, Village Capital. “There is an urgent need for new and innovative tools that can help people manage their income, get a loan, and plan for the future. I am incredibly excited to work with these 12 startups that are working to improve the financial health of vulnerable communities across India.”

 “The ongoing pandemic has highlighted the need for the world to embrace a digital-first approach while demonstrating empathy that shows a people-first attitude . India’s vibrant community of entrepreneurs plays a key role in offering affordable solutions to India’s vast MSME sector that can help them leverage the digital opportunity and stay in business. As a global leader in digital payments, PayPal’s focus is to democratize financial services. In this endeavor, we are proud to partner with Village Capital and its Finance Forward initiative.” said Guru Bhat, VP, Omnichannel & Customer Success, GM, PayPal India 

The 12 companies in the cohort are working to help small and medium sized businesses, low-wage and informal workers, women and families access capital, manage their incomes, and plan for their financial futures.

Here are the 12 startups in the cohort that are improving financial health in India:

  1. Wizi - A mobile application that aids users in managing and identifying the right credit card according to their needs 
  2. Bank Buddy - Integrated AI driven CX platform that empowers financial institutions to digitize their operations  
  3. Aggois - Agri finance platform that improves access to credit for farmers at the post harvest stage based on their receivables 
  4. Artivatic.AI - API module based solutions targeting insurance companies to digitise their operations 
  5. Credit Fair -Point of sale consumer financing solution specifically targeted towards the underserved population of India
  6. Credit Nirvana -  AI based omni channel debt collection solution with a focus on best customer management practices
  7. Finbot - Health equipment financing platform with a focus on stand alone health centres in tier 2 and 3 cities 
  8. Monitree - Portfolio management tool that aids retail investors and professional traders in investment making decisions
  9. Ocare Neo -  Healthcare focussed neo bank providing savings and credit facilities 
  10. Nivesh- Mobile first platform focused on solving the problem of low penetration of investment products in India by digitizing the operations of financial advisors 
  11. Zoop - Zoop is working to create a digital KYC product that allows business to digitally onboard their customers 
  12. Supermoney - A financial wellness platform for gig economy workers and micro entrepreneurs who are not serviced by traditional players

For more information, reach out to Rustin Finkler at Village Capital (rustin.finkler@vilcap.com).

About Village Capital

Village Capital helps entrepreneurs bring big ideas from vision to scale. Our mission is to reinvent the system to back the entrepreneurs of the future. Our vision is a future where business creates equity and long-term prosperity. Since 2009, we have supported more than 1,000 early-stage entrepreneurs through our investment readiness programs. Our affiliated fund, VilCap Investments, has invested in more than 100 program graduates, including 8 early-stage US fintech companies like Vault, Fig Loans, and Finix.

About MetLife Foundation

At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. From its founding through the end of 2019, MetLife Foundation provided more than $860 million in grants and $85 million in program-related investments to make a positive impact in the communities where MetLife operates. Our financial health work has reached more than 13.4 million low- and moderate-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.

About PayPal

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s 277 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo, Xoom and iZettle, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal Holdings, Inc. financial information, visit https://investor.paypal-corp.com.