Phi Commerce, a new age financial Technology Company focused on innovating digital payments, has been selected among Top 13 Fintech companies to participate in the Mumbai FinTech Accelerator, from 400 startup applications.
The Mumbai Fintech Accelerator is the first of its kind public-private partnership between the Government of Maharashtra, National Payments Corporation of India (NPCI), Banks, The Fintech MeetUp and other private entities. The main aim of the partnership is to aid fintech startups and foster innovation-driven ecosystem for these companies. An eminent jury consisting of industry leaders and representation from partner institutions made the winning selection.
According to Suniti Nanda, Fintech Officer, Govt of Maharashtra, “It is time to unleash the huge potential Mumbai has. There is a huge opportunity to collaborate between Fintech startups, financial institutions, VC/PE firms, academic institutes, influencers and the Government.”
The program aims to provide greater market access to the selected startups. The three-month accelerator program will include various use-cases in financial inclusion, public payment infrastructure and gov-tech.
“Access to market, funding and financial services talent is key to the growth of the Fintech industry and Mumbai wins hands down on all these parameters. The accelerator, which was conceptualized and built by The Fintech MeetUp, is an attempt to act as a catalyst in achieving this objective.”, says Abhishant Pant, Founder of The Fintech MeetUp.
“It is encouraging that the Government of Maharashtra is promoting tech startups to address issues faced by citizens of India. This presents a great opportunity for companies like Phi Commerce, which are working towards enabling the masses adopt digital payments and join the Digital India campaign. Through this program we are excited to work with the Government of Maharashtra, NPCI and other sponsor institutions on strategic projects”, says Jose Thattil, CEO & Co-Founder of Phi Commerce.