PayU, AWS India, Chiratae Ventures collaborate to launch fintech program

Payments service provider PayU on Wednesday announced the launch of a 45-day fintech accelerator program, inFINity for early-stage Indian startups in collaboration with AWS India (Amazon Web Services) and venture capital firm Chiratae Ventures. The program aims to support the growth of early-stage fintech startups by providing access to mentorship from industry experts, curated resources, and AWS Activate credits.

The deadline to apply for the cohort is August 11, 2023. Selected applicants will be announced on August 17, and the program will commence on August 31 with three days of in-person boot camp in Bengaluru, followed by four weeks of intensive online training.

To apply for the program, startups must be either bootstrapped or have raised funding of less than $5 million, seek to raise Seed to Series A funding and have a minimum viable product (MVP) already developed.

“PayU has a long-standing tradition of fostering innovation by supporting disruptive, early-stage startups. A key element of our long-term growth strategy is to develop a fintech ecosystem that will meet the diverse financial needs of Indians. Through this accelerator, we are creating a space where fintech entrepreneurs can flourish, fueling a technologically driven revolution in financial services,” said Anirban Mukherjee, CEO of PayU India.

The cohort will receive training and mentorship sessions, including access to experts from PayU, ‘guiding them to scale their business operations and expand their customer base’.

inFINity 2023 mentors include Anirban Mukherjee, CEO of PayU payments; Kailash Nadh, CTO of Zerodha; Nitin Gupta, Founder & CEO of Uni Cards; Prabhu Rangarajan, Co-Founder of M2P, among others.

“A first-principles approach has far higher odds of getting organisations, engineering, products, and infrastructure as less-wrong as possible compared to other approaches. My hope is that this program imbibes these principles well in fledgling startups,” said Kailash Nadh, CTO at Zerodha and a mentor for the program.