LenDenClub Alpha, the corporate venture capital (CVC) arm of LenDenClub, announced its first cohort of the ‘Bharat FinTech Program’. It launched last quarter to foster innovation, encourage, and support fintech startups in semi-urban and rural India. Six fintech startups across India were selected, which will be nurtured under the program in association with Startup Reseau.
LenDenClub Alpha conducted nationwide startup engagement drives in Maharashtra, Delhi, Gujarat, Rajasthan and various other cities. Basis, which received more than 150 applications to join its program.
The fintech startups being incubated through the program by LenDenClub Alpha, span different areas, such as multi-asset investment, alternate investment, digital banking services, P2P aggregators and AI-led investment advisors. A three-month-long cohort-based programme will mentor the selected startups.
Rajat Sinha, Principal at LenDenClub Alpha, said, “ The Bharat Fintech Program is aimed to promote innovation and inclusivity for the budding startups and to give them a necessary push to grow faster. We are eager to work with startups with disruptive technology to advance technology growth, and provide greater value to a larger population in Bharat. In the future, we are planning many such programs to help FinTechs in the areas of Technology, Product and Operations.”
Recently, LenDenClub Alpha, Artha Venture Fund, and Unicorn India Ventures invested USD 1.5 million in the no-code platform, Hubbler. As things advance, LenDenClub Alpha plans to introduce more cohorts under the ‘Bharat Fintech Program’ to accelerate the fintech startups from semi-urban and rural regions that offer unique solutions.