IDFC First Bank to offer banking, fundraising solutions to startups, investors & More Latest News Here – Up Jobs

The deal will enable IDFC FIRST Bank to offer bespoke banking solutions under its First Wings Program for Startups.

Bhavesh K Jatania, Head – of Startup Banking, IDFC FIRST Bank, said, “We are committed to building a strong presence in the startup ecosystem and be recognized as not just banking partners but also business partners. Startups are the backbone of India’s knowledge economy and are expected to play a pivotal role in driving our economic growth to the aspirational $5 trillion mark. In the last year, the number of DPIIT registered startups have increased from ~66000 to ~75000. Given the efforts Government has taken to boost the startup ecosystem in the country, it is likely to continue growing.”

Through the partnership with LetsVenture, IDFC First Bank will be able to reach out to startups and offer customized solutions that meet the unique needs of startups across life stages.

Both IDFC First Bank and LetsVenture via Scalix will support the startup ecosystem with banking support, fundraising solutions, knowledge series, and investor connect as part of the MoU.

Shanti Mohan, Co-Founder & CEO LetsVenture, said, “In the last decade when we founded LetsVenture, our vision was to make the process of discovery, connect, and fundraise easily for both the startups and investors. Having worked with thousands of founders, and a portfolio of 550+ companies, today our vision is to make the process of starting up easy and efficient for founders. IDFC FIRST Bank, with its focus on founders, along with the agility to adapt to a maturing ecosystem became a natural partner to how we could work together to deliver on this goal. We are excited to partner with the team at IDFC and be part of the FIRST WINGS for the next generation of entrepreneurs who will build the next billion-dollar business from India.”

The MoU was signed at the recently concluded flagship event of LetsVenture – LetsIgnite.

On BSE, IDFC First Bank was at ₹45.95 apiece up by 2%. The bank’s market cap is around ₹28,577.62 crore.

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