NeoBenk Ventures (www.neobenk.com), the strategic investment arm of the multinational financial institution, NeoBenk, on Monday said it sets up $10 Million (about Rs7.5 Crore) for Indian Startups in Digital Payments.
NEWS HIGHLIGHTS
* NeoBenk confirms a total reward distribution of $1 Million (about Rs750 Lakh) for celebrating its official launch on 20th November. Any customer who joins NeoBenk before 20th November will take part in the reward distribution.
* NeoBenk, a Worldwide Digital Payment Corporation, on Monday said it sets up $10 Million (about Rs7.5 Crore) for Indian Startups in Digital Payments. For more information, please visit, https://neobenk.com/intl/partners
* NeoBenk announced recently that it is setting up an investment of $10 Million (about Rs7.5 Crore) in the Indian market of its global investment program of $50 Million (about Rs37.5 Crore).As investors get cautious about dealmaking in India amid the coronavirus outbreak and their appetite for funding early stage startups are evaporating, NeoBenk Ventures is stepping up to make that void smaller with its NeoBenk Global Partners Program. This venture firm is offering fast funding to startups and businesses in a time of uncertainty seeking to build successful startups in the region and also help in the mass adoption of digital currencies by facilitating local partnerships.
The growing adoption of digital payments and digital representations of value in the country, especially during the Covid-19 pandemic, has necessitated the need for digital services more accessible to more people by arming them with the products and services they need to reduce financial stress.
Under the new strategy of investment, the venture firm will target currency exchanges, money service businesses, and payment and remittance solutions of India to offer a safer, faster, and more convenient payment experience for NeoBenk customers and help drive incremental access to Digital Assets.
"We are investing in startups and businesses operating in a wide range of financial services and planning to continue this strategy and add more areas of interest." said Indrl Sinha, President of NeoBenk, in an interview with FMS International.
Any startups or businesses can apply for fundraising through NeoBenk's Global Partners Program, and NeoBenk Ventures will engage with them virtually and conclude whether they want to invest within 20 days. For more information, please visit, https://neobenk.com/intl/partners
Let us know the thoughts about NeoBenk's banking solutions for digital assets holders in India through an email at feedback@thefms.com.
FMS International. Read Full Report https://neobenk.medium.com/neobenk-ventures-invests-10-million-fast-funding-to-indian-startups-in-a-time-of-uncertainty-e4fe99f3cdba
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( With inputs from ANI )
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