500 Startups, continuing the focus on Indian as well as Fintech market, has launched a couple of Micro Funds to specifically focus on the concerned markets. The funds, named as 500 Fintech and 500 Kulfi (Kulfi is a popular Indian version of frozen cream), will focus on the specific markets to carry out more early-stage investments.
The FinTech domain has grown to a pretty big size in the last years and it is pretty evident with the fact that 500 Startups has 80 such investments over the years. The 500 Fintech fund is launched with a tagline which says, “Financial Services for the rest of us”. 500 Startups feels that despite FinTech being overrated at few places, there is still a lot of scope in the emerging markets and that is exactly why this fund is launched at this point of time.
The India Specific fund, however, will not only target FinTech, but it will also have verticals including healthcare, Data Analysis, Content and SaaS in the Indian region, which also includes Bangladesh and Sri Lanka.