Mumbai Fintech Hub

The Mumbai Fintech Hub is an investment platform, which was started by the Government of Maharashtra in the Mumbai Metropolitan Region.[1][2] It is an initiative by the Government of Maharashtra to promote the fintech ecosystem in the state of Maharashtra.[3][4]

Mumbai Fintech Hub
AbbreviationMFH
Formation2018
HeadquartersMumbai, Maharashtra, India
Region
Mumbai Metropolitan Region
FieldsFintech
Key people
Aseemkumar Gupta, IAS (Chairman)
Jayashree Bhoj, IAS (Managing director)
Parent organization
Government of Maharashtra
Websitefintech.maharashtra.gov.in


History and overview

Mumbai Fintech Hub was founded in 2018 as an initiative to promote fintech startups by the Government of Maharashtra.[1] The accelerator programme was inaugurated by CM Devendra Fadnavis.[5]

The programme was launched in a partnership with National Payments Corporation of India (NPCI), PayU, Fino Payments Bank, IndusInd Bank, IndiaFirst Life Insurance Company, SBI General, HannoveRe, Swiss Global Enterprise, CRIF High Mark,[6] Microsoft, HDFC Bank, British High Commission[7] and Monetary Authority of Singapore,[8] PwC, NASSCOM, Indian Venture Capital Association (IVCA), and Payments Council of India (PCI), among others.[3]

In December 2018, it received 200 applications among which 13 startups were shortlisted. Some of the companies/startups who were selected under the programme are Crelytics, Bonfleet, One Wallet, Huepay, Phi Commerce, GoPlannr, M2P, Microchip Payments, Monitree, Riskcovry, Finlok, FinVu and News4Use.[5]

References
  1. Dash, Sanchita (18 June 2019). "Maharashtra Government launches an investment platform for fintech startups". Business Insider.
  2. Malik, Faisal (30 May 2018). "Mumbai to host FinTech fest on June 2–3". Hindustan Times.
  3. S, Ribhu (19 June 2018). "Mumbai Fintech Hub Launches FInD Investment Platform For Startups". INC42.
  4. "What will it take for Mumbai to become global fintech hub". Indian Express. August 2019. p. 7.
  5. "Maharashtra government picks 13 start-ups in push to Mumbai fintech hub". Indian Express. 5 December 2018.
  6. "12 startups exhibit their innovative solutions on Mumbai FinTech Hub's Demo Day". The News Minute. 18 April 2019.
  7. Athavale, Om (18 June 2018). "Maharashtra govt's fintech hub floats funding platform for startups". Techcircle.
  8. Bhunia, Priyankar (1 February 2019). "MAS signs MOU with State Government of Maharashtra in India for FinTech cooperation". OpenGov Asia.


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