Rise Accelerator set up by Barclays and managed by Zone Startups, has shortlisted ten FinTech startups from across India.
The 10 shortlisted startups include 4 startups from Bangalore (Customer XPS, Fund Expert, CrediWatch, MegDap), 2 each from Mumbai (RockMetric, Arrow AI), and Delhi (Capital Quant Solutions, Neuron), and 1 each from Chennai (FixNix) and Hyderabad (Anlytiqed).
The lifecycle stage include startups ranging from early stage - seeking its first enterprise client, to a mature product company that has raised a series-A - seeking Barclays and Zone Startups international market expertise and access.
Rise Accelerator will provide the selected startups with aaccess to Barclays technology, insight and expertise, as well as offer dedicated access to onsite mentors and advisors, and enable access to international markets through the Barclays and Zone Startups networks.
In addition to Rise Accelerator in Mumbai, Barclays operates its accelerator programs in 6 more countries and Zone Startups is a leading accelerator across India and Canada, working with multinationals such as GE, Rogers, Deloitte, Thomson Reuters etc.
Ajay Ramasubramaniam, director, Zone Startups said, "Post the launch, the Rise Accelerator team and Barclays conducted roadshows across 6 cities in India, and several international webinars, to attract entries. After 3 months of program marketing, we received 236 applications, including several international entries".
A final shortlist of 10 most promising FinTech Startups from across India have been selected for the 18-week program, during which the cohort will get to engage closely with the internal stakeholders at Barclays, and do a focused POC during the duration of the cohort.
Applications included startups across core financial technologies, including lending, digital banking solutions, trading, enterprise mobility, cyber security, data analytics, payments, cryptocurrency, insurance and wealth management.
Himanshu Warudkar, director - Head of Client Facing Technology, Investment Banking Technology India & Program Director - Rise Mumbai said, "Launch of the debut cohort in Rise Mumbai gives selected startups and Barclays colleagues the opportunity to work with each other on identifying innovative solutions to real problem statements."
