One of the leading investment bank, Barclays today launched the Rise Mumbai, the new home for fintech in India. It is the latest additions to its network of physical spaces, designed to bring together the world’s best and brightest startups and experts to create future of financial services. After London, Manchester, New York, Cape Town and Tel Aviv hubs, Mumbai is their sixth Rise site worldwide.
The Start-up ecosystem is witnessing a steep increase activity and interest from investors with even large corporates looking to invest in this space. Rise provides us with the opportunity to leverage our client relationship and experience to play a relevant role in the growth of fintech community in India, said Jaideep Khanna, CEO & Country Head, Barclays.
Rise Mumbai will provide a physical site for innovative finteach companies, offering a co-working environment, world-class event spaces and meeting rooms. Partnered with 91springboard the Mumbai site is located in Peninsula Business Park at Lower Parel. At the launch event, the finalists of Risehack will have the opportunity to present their project to a group of experts. A Fintech Hackathon that was divided in three phase will give cash price of Rs. 2,00,000 per category along with being part of Global Rise Network for winners.
At Barclays we are embracing the opportunities nad expertise of the startup ecosystem, working together to drive innovation in financial services. Rise Mumbai will give technology entrepreneurs in India access to global netwoek of experts, business and partners, setting them up for rapid scale and growth. We are very excited about the launch and look forward to tapping into India’s Budding fintech ecosystem, widening our global reach. said, Lubaina Manji, Barclays Head of Rise and Group Innovation Office.
The Rise platform and creation of an ecosystem of fintech start-ups will allow people from different geographies to interact with each other. The partnership with 91springboard will give the Rise network instant aces to the former’s start-up community currently spread across six cities in India.
Varun Chawla, co-founder, 91springboard said, When we started 91springboard, it was our dream to enable entrepreneurs to create products and services of the future. The launch of Rise Mumbai is a massive milestone for us and we are proud to play a pivot role in making India a part of this global collaborator network.