India’s FinXtree fires up for fresh fintech products
Bengaluru-based start-up FinXtree has powered up with the aim of developing digital products for lending, capital markets and blockchain solutions.
These are very early days but the firm says it will partner with fintech companies and try to help them discover the right customers in India.
Three V’s vault into fintech
FinXtree explains: “We are at a unique point of time in history when we can create new business models leveraging technology. The exponential growth of smartphones and the burgeoning data consumption offers an opportunity to build products that are mobile-first.”
In terms of fintech products it is targeting the small business sector. The firm cites the report “Credit Disrupted – Digital MSME Lending in India – Omidyar – BCG Report Nov 2018″, which says there is a $200 billion shortfall “between demand and supply of capital to small businesses in India”.
Along with these products, it will offer consulting and advisory services covering wealth management and financial planning for consumers; and fundraising and capital budgeting for SMEs and corporates.
The trio behind FinXtree are the three V’s – Vinay Shankar, Vinayak Palkar, and Vasantha Kumar Ramachandran. Shankar and Kumar are also co-founders of lendtech LoanFinanz.
In addition, Shankar has worked at State Bank of India (SBI), ICICI Bank, and IBM. Palkar’s experience includes Tata Consultancy Services.
FinTech Futures contacted the start-up for more details and it can’t share much yet. FinXtree explains: “We are in the early stages of forming relationships with few fintech product companies in Europe.”
