The Mumbai Fintech Hub is an

investment platform A fund platform or investment platform is an online service that allows investments to be bought online. Fund platforms may simplify the process of investing or provide investments at a discounted rate. Use In many cases, investments purchased on ...

, which was started by the

Government of Maharashtra The Government of Maharashtra is the executive branch of the Indian states of india, state of Maharashtra. The government is led by the List of chief ministers of Maharashtra, chief minister (currently Devendra Fadnavis since 5 December 2024) ...

in the

Mumbai Metropolitan Region Mumbai Metropolitan Region (ISO 15919, ISO: ''Muṁbaī Mahānagara Pradēśa''; abbreviated to MMR and previously also known as Greater Bombay Metropolitan Area), is a metropolitan area consisting of Mumbai and its Satellite city, satellite tow ...

. It is an initiative by the

to promote the

fintech Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

ecosystem in the state of

Maharashtra Maharashtra () is a state in the western peninsular region of India occupying a substantial portion of the Deccan Plateau. It is bordered by the Arabian Sea to the west, the Indian states of Karnataka and Goa to the south, Telangana to th ...

History and overview

Mumbai Fintech Hub was founded in 2018 as an initiative to promote fintech startups by the

. The accelerator programme was inaugurated by CM

Devendra Fadnavis Devendra Gangadharrao Fadnavis (born 22 July 1970) is an Indian politician who is currently serving as the Chief Minister of Maharashtra since 5 December 2024 with Eknath Shinde and Ajit Pawar as his deputies, and previously held this positi ...

. The programme was launched in a partnership with

National Payments Corporation of India National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Associa ...

(NPCI),

PayU PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrate ...

, Fino Payments Bank,

IndusInd Bank IndusInd Bank Limited is an Indian banking and financial services company based in Mumbai. It was established in April 1994 and promoted by the Hinduja Group. History IndusInd Bank was among nine 'new-generation' banks that obtained a bankin ...

, IndiaFirst Life Insurance Company, SBI General, HannoveRe, Swiss Global Enterprise, CRIF High Mark,

Microsoft Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...

HDFC Bank HDFC Bank Limited is an Indian banking and financial services company, headquartered in Mumbai. It is India's largest private sector bank by assets and market capitalisation. The Reserve Bank of India (RBI) has identified the HDFC Bank, Stat ...

British High Commission A British High Commission is a British diplomatic mission, equivalent to an embassy, found in countries that are members of the Commonwealth of Nations. Their general purpose is to provide diplomatic relationships as well as travel information, ...

and

Monetary Authority of Singapore The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as ...

PwC PricewaterhouseCoopers, also known as PwC, is a Multinational corporation, multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Fo ...

NASSCOM {{Infobox organization , logo = Nasscom-logo-svg.svg , alt = NASSCOM , logo_caption = NASSCOM's New logo , formation = {{start date and age, 1988, 03, 01, df=y , extinction ...

, Indian Venture Capital Association (IVCA), and Payments Council of India (PCI), among others. 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.

References

External links

* Government of Maharashtra Business incubators of India Entrepreneurship in India 2018 establishments in Maharashtra Organisations based in Mumbai Business organisations based in India {{India-gov-stub