Beams Fintech Fund, a CATIIAIF, was launched earlier this year, to invest in growth-stage companies operating at the intersection of financial services and technology, and with a mission to build India’s largest fintech ecosystem. from banks, NBFCs and fintechs. And 9Unicorns Accelerator Fund, a CAT I AIF, launched by the founding members of Venture Catalysts in 2020, is an industry-independent venture capital fund that provides first institutional verifications to fast-growing startups.
Partnerships for the future
With this latest round of investments, YES BANK aims to continue its mission of catering for the “Future Tech Businesses of India”, by enhancing innovation in the technology and finance sectors, and potentially partnering with leading startups in which the group has invested.
“We are thrilled to partner with Venture Catalysts, Beams and 9Unicorns. We believe that this partnership is a step in the right direction, for [help us] become the go-to bank for technology start-ups. India is on the cusp of massive growth and collaboration between banks and technology companies – especially with fintechs – will play a vital role in this journey,” said Ajay Rajan, Country Head – Transaction Banking , YES BANK.
This partnership is part of YES BANK’s long-term growth strategy to strengthen its presence in India’s growing technology markets, as it invests in the founders of tomorrow.
“This partnership is a great start for the technology ecosystem. YES BANK has always been a visionary bank and a harbinger of innovation in India. We hope this will encourage other banks and fintechs in the market to partner with groups like Beams and 9Unicorns,” said Naveen Surya, co-founding member of the Beams Fintech Fund.