PayU, AWS, and Chiratae Ventures Join Forces for Fintech Accelerator Program

• ByStartupStory     |    July 12, 2023

PayU, a leading online payments solution provider, has partnered with Amazon Web Services (AWS) India, a prominent cloud platform, and Chiratae Ventures, a venture capital firm, to introduce inFINity, a Fintech accelerator program aimed at supporting early-stage Indian startups. The 45-day program will offer selected fintech startups access to mentorship from industry experts, curated resources, and AWS activate credits, helping them accelerate their growth and navigate the competitive landscape.

The first cohort of inFINity, comprising selected fintech startups, will be announced on August 17, followed by comprehensive training and mentorship sessions. During the program, these startups will benefit from the expertise and guidance of leading professionals, gain access to PayU’s robust payment solutions to meet industry demands, and receive up to $25,000 in AWS activate credits, enabling them to leverage over 200 fully featured services on AWS.

Mukherjee, CEO of PayU India, emphasized the importance of fostering innovation and supporting disruptive startups, stating, “Through this accelerator, we are creating a space where fintech entrepreneurs can flourish, fueling a technologically driven revolution in financial services.”

The mentors participating in the program include industry veterans such as Anirban Mukherjee, CEO of PayU Payments; Kailash Nadh, CTO of Zerodha; Nitin Gupta, Founder and CEO of Uni Cards; and Prabhu Rangarajan, Co-Founder of M2P, among others. Their valuable insights and guidance will help the startups navigate challenges and drive their businesses forward.

Amitabh Nagpal, Head of Start-up Ecosystem at AWS India, highlighted the significance of AWS’s innovation tools in supporting fintech startups. He said, “At AWS, we offer the broadest and deepest set of innovation tools, including machine learning (ML) and artificial intelligence (AI) capabilities, to help fintechs transform their ideas into tangible solutions to drive financial inclusion and optimize customer experiences.”

The inFINity program will kick off on August 31 with a three-day in-person bootcamp in Bengaluru, followed by four weeks of intensive online training. To conclude the program on November 15, a virtual showcase will be conducted, providing the cohort with opportunities to engage with leading investors for fundraising purposes.

Mandeep Julka, Vice President at Chiratae Ventures, expressed enthusiasm for the initiative, stating, “Chiratae has been a pioneer in fintech investing… we are looking forward to discovering new partners at inFINity 2023.”

The program targets bootstrapped startups or those that have raised less than $5 million in funding and are seeking to secure Seed to Series A funding. Applicants must have already developed a minimum viable product (MVP) to be eligible for selection.

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