Axilor Ventures, an early-stage investment firm, has today announced that it has tied up with PayU India, a digital payments platform for a startup accelerator program, focused towards fin-tech startups.
The VC firm has recently announced doubling the intake for its Summer ’17 Accelerator Program. For the firm, finance technology sector is one of the five focus areas for the cohort in the Summer ’17 batch.
With PayU and Axilor Ventures coming together, they are now aiming to improve the odds of success for startups in the fintech sector and make them investible faster.
Talking about the said initiative, Ganapathy Venugopal, co-founder and CEO of Axilor Ventures, said,
The recent changes have accelerated the adoption of digital services in both consumer and enterprise segments – financial services are one of the most underserved needs and will see rapid innovation. We are looking for Fintech startups that will drive this change.
With regards to the same, Jitendra Gupta, managing director at PayU India also shares his insights saying:
FinTech services are going to propel India in its strive towards digitalization and cashless economy. This space touches upon almost every consumer in India on a day to day basis. The socio-economic conditions of today further look upon young entrepreneurs and emerging startups to disrupt the status quo and unveil huge potential in the domain. At PayU India, we are glad to be associated with Axilor Ventures and provide access and guidance to these start ups in their formative years.
As per Mr. Venugopal, for startups in the accelerator program, market access and industry connect work as catalysts for growth. For this, they have partnered with the industry leader like PayU India to support Fintech startups. He is hoping that this engagement will help FinTech startups with one-on-one focussed mentoring, market access and marketing support.