Can you tell me about the Fintech funding plan of IIFL group?
Answer
Answer
The diversified financial group, IIFL Group, announced plans to invest Rs.300 crore through IIFL Fintech Fund. The focus will be on early stage Fintech start-ups. For example, one of the areas IIFL Fintech is looking to fund is the start-ups offering last-mile credit.
Some of the Fintech start-ups backed by IIFL include Leegality, FinBox, Trendlyne and DataSutram. This would also get with the broad focus of the group on business credit, affordable home loans, microfinance credit etc. It will also offer mentoring support.