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Beams Fintech Fund, India’s first fund dedicated to the development of financial technology-based capital, and investments in financial technology companies operating in financial services and space technology, has expanded its business in the Middle East, 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 Company, Abu Dhabi Investment Authority, ADIC, Etisalat, Emaar and many banks, have established their active presence in India for decades, and their cooperation can 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 improving its 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 startups, 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 its early growth stages, with the B&C chain of fintech companies taking over Led by highly experienced founders. BIMS has a very strong approach to investing and providing 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, a company Venture Catalyst, which also owns Unicorn9, an early-stage business growth accelerator fund valued at $120 million.
BIMS is co-founded by Sagar Agarfull, veteran of Fine Talk, 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 SEHATech, has been appointed as a founding member and expert partner in FinTech. Asuman Daikan Abdul Latif has also joined the platform as a partner in Venture, and Sodanshu Garg will act as a consultant for the institution in the region.
The founding team of BIMS has more than 20 years of investment experience, as well as founding more than 300 companies, including Fintech and financial services companies such as BharatPe, Dukaan, Flobiz, Esskay, Impact Guru, Suryoday, Centrum, OTO Capital, Klub, Get-Vantage and LenDenClub and LiquiLoans and Junio.
BIMS has already invested in its fund, investing in Niyo, India’s leading digital banking platform, as well as investing in 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, provide the necessary environment and support to build large and successful financial technology companies. It also offers handling of a network of local and international banks, insurance companies, non-bank financial institutions, financial technology companies, supervisors and advisors, which not only ensures access to capital at reasonable rates, but also the strategy to market enter with companies holding portfolios in India and the Middle East region.
With more than 2.6 million Indians, who make up 30% of the population of the UAE, the Indian community is the largest in the country, making them at the forefront of the target audience of the BIM portfolio. 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.
Sagar Agarfull, co-founder of BIMS, highlighted the huge opportunities available in the fintech sector. Financing and lending companies that have invested a large amount of capital that we move across various sectors, as well as experienced professionals, veterans and founders move from traditional work in the logic of large companies, to targeting modern categories, to meet the growing need for long-term financial services worldwide.”
Commenting on the need for a fund to fund fintech, BIMS co-founder Anuj Gulcha said, “There is no doubt that the opportunities in the fintech field are huge in India as it is the only technology field in India that generated. more than $80 billion, from In terms of value in India, $8 billion in mergers and acquisitions. Our revenue at BharatPe is a clear indication of the opportunities in the FinTech sector in India. We gave 90x last year to BharatPe investors turned unicorn, and we are building more similar companies in this space.We have one of the best FinTech investment teams in India, with a proven track record.
Deepak Ahuja, an expert partner at BIMS, said, “The Middle East region in general, and the UAE in particular, plays an important role in India’s technology ecosystem. Investors in the Middle East- region also not only do their active business in India but also support our companies to expand in Middle East ADGM & ADIO have created special incentives to encourage Indian companies to come to Middle 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 see successful models from India, as Indian, not to adopt. fintech companies not only offer 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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