ftcash Raises Funding at Pitch@RB, Signs MoU with IvyCap Ventures
Investments totalling to $12.75 million were made into 12 start-ups including ftcash at the event, which was concluded with a closing speech by Shri Pranab Mukherjee.
Photo Credit : Umesh Goswami,
Deepak Kothari, Co-founder, ftcash
ftcash, Indian financial technology ventures, was recently invited to give a presentation at Pitch@RB during the 3rd ‘Festival of Innovation’ at Rashtrapati Bhavan. Sanjeev Chandak, Co-founder & CEO – ftcash, made an eloquent pitch in front of venture capital investors and accelerators, and signed a MoU with IvyCap Ventures Advisors to further strengthen their existing relationship.
Catering to micro-merchants in India, ftcash is a digital payments and credit system which aggregates multiple payment methods such as credit and debit cards, net banking, mobile wallets, UPI etc. through an open-architecture based platform. Payments services offered by the platform do not have any transaction limit and can be availed through a feature phone.
A part of the 3rd edition of ‘Festival of Innovation’, Pitch@RB is a new initiative launched by Rashtrapati Bhavan in association with CII. It was attended by the Hon’ble President, Shri Pranab Mukherjee, Rajiv Pratap Rudy (Minister of State – Ministry of Skill Development & Entrepreneurship), Amitabh Kant (CEO – NITI Aayog), Kris Gopalakrishnan (Co-founder – Infosys & Chairman – Axilor Ventures), along with several other dignitaries. The event witnessed a participation of 12 venture capitalists, 31 start-ups, and 12 grassroots innovators. Investments totalling to $12.75 million were made into 12 start-ups including ftcash at the event, which was concluded with a closing speech by Shri Pranab Mukherjee.
Sanjeev Chandak, Co-founder & CEO, ftcash said, “It has been a privilege for us to be invited to the esteemed ‘Festival of Innovation’ at Rashtrapati Bhavan. We would like to thank the Honourable President and CII for offering such an encouraging platform for promising start-ups in the country and for giving the overall entrepreneurial ecosystem a big boost. We would also like to thank IvyCap Ventures for believing in our vision. Their support will enable us to further accelerate our business operations, paving the way for ftcash to establish itself as a leader in the high-growth fintech market.”
‘Festival of Innovation’ is an annual event initiated by the Office of the President of India to recognise, respect, and reward grassroots innovations and nurture a supportive ecosystem through brainstorming, facilitating investments and grants. Various editions of the event have been attended by Nobel Laureates, global innovators, market doyens, dignitaries from various government/non-government agencies, and innovators and inventors from all walks of life.
An innovative fintech start-up leveraging technology to bring about market disruption, ftcash has previously won several awards and recognitions across the globe for its differentiated approach. It was adjudged the winner at the UK Trade and Investment – Great Tech Initiative, receiving the award from Prince William, the Duke of Cambridge, and Catherine, the Duchess of Cambridge. Other accolades include IBM Fintech Smart Camp, Red Herring Asia 50, IIM Ahmedabad CIIE-IIFL Fellowship, KPMG Hot 100 Startups, NASSCOM Emerge 50, and Village Capital Program amongst others. It was also featured at Young Turk on CNBC as well as at the world’s first impact investment themed show The Real Deal on NDTV. ftcash is back by PayPal and recognised by Forbes.
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