HSBC Bank and Telangana-based startup incubator T-Hub have shortlisted five early-stage fintech ventures for their joint programme called Accelerator 2030.
The selected startups are Abda Digital, Tookitaki Technologies, Capital Quant Solutions, vPhrase Analytics Solutions, and Morph.ai.
Launched in March this year, Accelerator 2030 aims to partner with fintech startups working on products and solutions for improved banking operations.
As part of the eight-week accelerator programme, the cohort of five startups will get access to training, mentorship, and workshops by senior HSBC leadership. In addition, their solutions could potentially be applied to HSBC’s global operations.
They will also get access to T-Hub's network of mentors, industry experts, investors, service providers, and the ecosystem. T-Hub is a public/private partnership between the government of Telangana, Indian Institute of Information Technology-Hyderabad, Indian School of Business, National Academy of Legal Studies and Research (NALSAR) and private sector leaders.
More than 95 startups across the globe had made a pitch to the London- headquartered bank. The startups specialise in areas such as regulatory and compliance operations, loan processing, credit cards, insurance, mortgage applications, operations logistics, operations infrastructure, corporate and consumer product fulfillment.
Here's a brief on each of the five shortlisted startups:
Abda Digital Pvt. Ltd: This startup operates a software-as-a-service (SaaS) platform for creating interactive micro-ads. The Hyderabad-based firm was founded in 2015 by Sravan Kumar Narasipuram and KRK Rao. Abda aims to provide an innovative approach for user engagement and lead generation.
Tookitaki Technologies Pvt. Ltd: Singapore-based Tookitaki was founded in 2012 by Abhishek Chatterjee and Jeeta Bandopadhyay. It is a data intelligence platform focused on consumer behaviour discovery and prediction. It offers a SaaS platform to provide actionable insights and forecasting solutions on consumer behaviour for enterprises.
In 2015, the company raised $1 million in seed funding from Jungle Ventures, Rebright Partners and Blume Ventures. Earlier, Tookitaki received $200,000 in funding from a group of investors, including Blume India Internet Group and Harvard Angels.
Capital Quant Solutions Pvt Ltd: Capital Quant Solutions offers cognitive automation solutions for the financial services industry. It was co-founded by Pravin Lal and Rajesh Singh. Algorithms based on machine learning are used to analyse unstructured data such as news and tweets.
vPhrase Analytics Solutions Pvt. Ltd: Mumbai-based vPhrase Analytics Solutions was founded in 2015 by Neerav Parekh. It is an artificial intelligence platform that helps companies make their reports easy to understand by explaining insights in words.
Its patent-applied platform, Phrazor, analyses data, derives insights and then communicates those insights, in words, in multiple languages. In 2016, Mumbai-based Venture Catalysts had invested an undisclosed amount in the startup.
Morph.ai: Gurugram-based Morph.ai was founded in 2016 by Nidhi Agarwal, Jayesh Hathila, Vipul Garg, Pratik Jain, Abhishek Gupta, and Ishan Jain. It is an enterprise chatbot suite that helps businesses engage in personalised marketing and sales.