Entrepreneur Nirmal Jain’s #IIFLDisrupt to invest and partner with Fintech startups
Financial services conglomerate run by serial entrepreneur Nirmal Jain today announced the launch of #IIFLDisrupt- an initiative to collaborate with Fintech startup ecosystem. IIFL has launched this initiative to invigorate, support and partner with fintech startups at a time when many Indian startups are impacted by fund squeeze and are unable to achieve scale as Covid19 outbreak has weighed on the broad economy in an unprecedented manner.
Nirmal Jain, Founder and Chairman of IIFL Group said, “Covid19 has disrupted the whole world. The post Covid world will see revolutionary Fintech disruptions. We are keen to partner, invest, collaborate with FinTech startups passionate to disrupt & change the world of finance.”
“We are looking out for fintech startups that can disrupt the existing chain, digitise the process, increase productivity, and boost various aspects of the business.”
The #IIFLDisrupt platform (https://www.iifl.com/fintech/) promises to help startups having a disruptive idea in the following ways – 1 – provide funds, 2 – becoming the first client, 3- give access to mentors. #IIFLDisrupt also invites accelerators and incubators across India to collaborate.
Nirmal Jain, the legendary founder of IIFL Group and one of the most successful firs-generation entrepreneurs in India since the economic has over two decades and has built five successful companies in two decades including IIFL Wealth – India’s largest wealth manager with $24 billion AUM, IIFL Finance – one of the largest retail focussed NBFC in India, IIFL Securities – one of India’s largest broker, 5paisa.com – India’s only listed fintech and financial products marketplace and indiainfoline.com – one of India’s largest financial information portal.
IIFL has raised two seed venture funds of about Rs1000 crore each in the last five years and has made multiple investments in startups including food delivery services firm Box8, conversational artificial intelligence (AI) startup Uniphore, digital lending platform NeoGrowth and online fashion marketplace Fynd.