The founders have spoken: Gumption Labs and Loans4SME selected for investment in India
Two FinTech companies were selected for investment — by members of their cohort — at the close of our Village Capital FinTech: India 2016 program in Mumbai this month
Bangalore-based Gumption Labs and Mumbai-based Loans4SME are our two newest peer-selected investments in India.
Our three-month FinTech India program recently wrapped up in Mumbai. The program, run in collaboration with PayPal and BlackRock and with local support from the DBS Foundation, was focused on finding, training and investing in entrepreneurs that are building inclusive financial services in India.
While the Indian government has made significant progress to modernize the country’s financial system, too many bank accounts remained untouched or underused. Consumers and small businesses still struggle to find access to credit and other financial services. The eleven companies in our program are all working on these problem s— including our two new portfolio companies, who were selected for investment by their peers through a day-long ranking process (more on that here).
Gumption Labs helps people make and manage investments using artificial intelligence. The company’s financial data analytics software, TradersCockpit, makes personal finance decisions easier and more strategic for the average person.
Loans4SME connects lenders with Indian SMEs (small and medium enterprises). They provide flexible financing to small and growing businesses, for growth capital or working capital.
The two startups were selected to receive $50,000 in investment each.
Village Capital India will be recruiting for more programs around fintech and education, starting this spring. Sign up to receive updates from our India team by clicking here!