With the curtains been drawn off post its 4th Start Tank Incubation Challenge on Friday, online payment company PayPal has hand-picked 4 financial technology startups as fresh entrants to its incubation center at Chennai.
The incubator provides an environment for early-stage startups to evolve at its exclusive facility in PayPal’s technology center in Chennai. Out of 125 applications, PayPal has chosen these 4 startups to nurture for next few years.
The four companies namely, CashFree, D-Rewards, Notifie and ftcash, will be provided with an extensive technological support and business mentorship, infrastructure support and networking opportunities.
PayPal’s Start Tank programme, started in 2013, looks for startups with focus on core payment features such as wallets, gateways and remittances, as well as payments enablers and adjacencies like biometric authentication, security and financial inclusion.
Anupam Pahuja, General Manager, Technology, Asia-Pacific, PayPal said –
I am excited to see the entrepreneurial space in India take-off in just a short few years. Today, India ranks third among global startup ecosystems in the world. PayPal’s Start Tank has been tremendously successful since its inception. All of our incubated startups so far have either successfully secured funding or are finalizing strategic partnerships. We are delighted to welcome this promising new batch of startups into Start Tank, and look forward to them scaling even greater heights through our incubation program.
Here’s a brief summary on the startups selected under this incubation programme –
CashFree : Founded by Akash Sinha and Reeju Datta, CashFree is a startup that allows its users to make online transactions. By keeping payments at their core and building tools on top of it, they want to simplify the way people pay for their products they buy every day.
D-Rewards : Founded by Vijay Krishna and Shoaib Mohammed is a cloud-based CRM tool for offline small business retailers that enables end-to-end customer engagement using loyalty as a platform for profiling. It features in-house analytics & targeted promotions, bridging the gap between the business and its customers.
ftcash : Founded by Sanjeev Chandak,Deepak Kothari and Vaibhav Lodha aims to empower the underserved micro-merchant sector with the power of mobile payments. It provides solutions for micro-merchants to accept payments through multiple payment instruments including debit cards, credit cards and mobile wallets.
Notifie : Founded by N. Raja Chinnathamby and Arun Nedunchezian is a messaging platform which looks to simplify notifications for offers from restaurants. According to its blog, Notifie’s messaging platform helps businesses target potential customers while customers have full control over what messages they receive from which business.