Under its incubator program, LenDenClub will invest in six fintech startups

LenDenClub Aplha, the corporate venture capital arm of the peer-to-peer (P2P) lending platform, has welcomed six fintech startups to its Bharat FinTech Program startup incubator.

Only six firms were chosen out of more than 150 applicants; these are Finswealth, FlashPay, P2P Bazaar, FinPlay, Upmarket India, and Filit.

After the incubation programme is through, the chosen firms will receive their first check, claims the statement.

The programme, which was recently launched in collaboration with Startup Reseau, aims to promote innovation, support, and fintech companies in semi-urban and rural India.

Additionally, the chosen financial firms will get specialised mentoring from LenDenClub Alpha in areas like tech and product improvement, customer acquisition, innovation audits, and go-to-market and industry connections.

The five firms who have been chosen and have potentially revolutionary technology that could change the FinTech industry in the future will be mentored over the course of a three-month cohort-based programme.

Commenting on the investment Rajat Sinha, Principal at LenDenClub Alpha, said, “We are thrilled to receive such an amazing response from the Fintech startups. 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. Helping all possible startups who can cater to Bharat to make Bharat the real leader in the FinTech ecosystem in a global landscape. In the future we are planning many such programs to help FinTechs in the areas of Technology, Product and Operations,”

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