The first of its kind in India to develop FinTech based capital
The BIMS FinTech Fund was launched by Venture Catalyst, India’s largest integrated business incubator.
BIMS portfolios prepare to work with banks and financial technology companies in the Middle East
Dubai; The United Arab Emirates- Beams Fintech Fund (Beams), India’s first fund dedicated to the development of financial technology-based capital, and investment in financial technology companies operating in financial services and space technology, has expanded its business in the Middle East , announced in the United Arab Emirates, which is a global platform in this sector, and forms what can be described as the “Silk Road” to the Gulf Cooperation Council countries, and the North and East Africa region.
As one of the largest and most prominent partners in trade, remittances and foreign direct investment in India, the UAE has what it takes to provide capital and infrastructure support to FinTech companies operating outside India.
It should be noted that many and diverse companies and institutions such as “Mubadala”, “Holding”, “Abu Dhabi Investment Authority”, “ADIC”, “Etisalat”, “Emaar” and many banks have their active presence in India for decades, and they can be For its cooperation with “Bims” and its unique portfolio of companies that contribute to the creation of a larger and more robust financial technology economy between the two countries, increasing opportunities for innovation and development and improve his prospects. The unique demographics of India, the regulatory framework set by the Central Bank of India, the Comprehensive Economic Partnership Agreements (CEPA), and the historical relationship between the two countries prove that this is the best time for institutions and investors in the region to looking to diversify their financial technology investments geographically, and to take advantage of and capitalize on the new opportunities available in India.
India is the third largest financial technology market in the world, after the United States of America and China, in terms of the number of start-ups, invested capital and the number of “unicorn” companies. In 2021, 18 out of 43 companies in India shifted their focus to the fintech world, including BharatPe, Digit, Cred, Meesho, Groww, Five Star Finance, Zeta and Chargebee, noting that a third of India’s unicorns in the fintech sector is. .
With a target investment size of $120 million, the option to extend the share “Green Show”, and in line with its expansion strategy, BIMS intends to invest between $15 million and $20 million in early growth, with the B&C chain of fintech -companies he leads Highly experienced founders. BIMS takes a very aggressive approach to investment and offers valuable opportunities to its partners. It also plans to create an integrated portfolio of dozens of financial technology companies, in a market currently valued at $80 billion, and likely to reach more than $250 billion by 2030. BIMS was launched by India’s first and largest integrated business incubator, which is Venture Catalyst, which also owns Unicorn9, a $120 million early-stage business accelerator fund.
BIMS was co-founded by Mr. Sagar Agarvwal, Veteran Vine Talker, and Venture Catalyst co-founders Dr. Apurva Ranjan Sharma, Anuj Gulcha, Anil Jain and Gaurav Jain. In the Middle East region, Deepak Ahuja, Senior Vice President and Head of Revenue at SEHA Tech, has been appointed as the founding member and expert partner in FinTech. Asuman Daikan Abdullatif has joined the platform as a partner in Venture, and Sodansho will serve Garg as an advisor to the Foundation in the region.
The founding team of BIMS has an impressive 20+ years of investment experience, as well as founding over 300 companies, including FinTech and Financial Services companies such as BharatPe, Dukaan, Flobiz, Esskay, Impact Guru, Suryoday, Centrum, OTO Capital , Club , Get-Vantage and LenDenClub and LiquiLoans and Junio.
BIMS has already invested in its fund, invested in Niyo, India’s leading digital banking platform, as well as invested with Accel and Lightrock. BIMS is also continuing its second investment in supply chain finance with Tiger Global, Google, Sequoia and Creations.
BIMS has a clear and coherent strategy to provide those who want to establish their businesses with the necessary capital, the necessary environment and the support to build large and successful FinTech companies. It also offers handling of a network of banks
Locally and internationally, insurance companies, non-bank financial institutions, FinTech companies, supervisors and consultants, ensuring not only access to affordable capital but also accelerating the market entry strategy with portfolio companies in India and the Middle East.
With over 2.6 million Indians, who make up 30% of the population of the UAE, the Indian community is the largest in the country, placing them at the forefront of the BIMS portfolio of companies. Middle Eastern banks, non-profit financial firms and technology majors can become an integral part of BIMS’s business environment, thus conjuring up the Middle East FinTech ecosystem.
Emphasizing the great opportunities available in the fintech sector, Mr. Sagar Agarvwal, co-founder of BIMS, said: “Fintech has a clear growing share in this sector. From the financing and lending companies that have invested a large amount of capital that we move across various sectors, as well as the experienced professionals, the veterans and the founders move from the traditional work in the logic of large companies, to target modern categories, to meet the growing need for financial services in the long term. worldwide.”
Commenting on the need for a fund to finance fintech, Anuj Gulcha, co-founder of BIMS said, “There is no doubt that the opportunities for fintech are huge in India as it is the only technology field in India that exceeds $80 billion, of value in India, and $8 billion in M&A. Our return in BharatPe is a shining testament to the opportunities in India’s fintech sector. We gave 90x last year to BharatPe investors who became unicorns, and we create more We have one of the best FinTech investment teams in India, with a proven track record.
Deepak Ahuja, senior partner at BIMS, said: “The Middle East in general, and the UAE in particular, plays an important role in India’s technology ecosystem. Investors in the Middle East are not satisfied with the running their active businesses in India Not only India they support our companies to expand to the Middle East ADGM & ADIO have succeeded in finding special incentives to encourage Indian companies to expand to the Middle East East, and we are very excited to contribute to building the FinTech ecosystem in the region.”
With the growing adoption of technology and the growing interest of banks in the UAE looking to collaborate in the technology sector, launch products and forge partnerships with FinTech companies, there is no doubt that the time is right to adopt successful models from India , as Indian. FinTech companies are not satisfied with providing Not only technology partnerships and solutions, but can also achieve better results in the region, by acquiring local fintech operators, who can collaborate across larger regional platforms, enable collaboration, share costs , and so on.
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More about “Bims”
The BIMS FinTech Fund is a venture capital development fund for FinTech in India that provides the incubation, value addition and capital needed to support future FinTech founders. The BIMS FinTech fund focuses on investing in early-growth fintech companies run by aspiring entrepreneurs. BIMS aims to prepare pioneers who will lead the next change in the world of financial technology in India by supporting entrepreneurs and providing solutions for institutions working in the field of financial services and the traditional way of banking and to transform financial services provided to customers. and companies, to modern, digital and innovative ways.