FINTECH HAVE A NEW HOME IN MUMBAI: RISE MUMBAI

FINTECH

Rise, the fintech innovation platform created by Barclays, launches today in Mumbai. Finalists of Risehack, a fintech Hackathon, will present their projects as part of the launch event.

Mumbai, 15 June 2016 – Barclays today opened the doors of Rise Mumbai, the latest addition to its network of physical spaces designed to bring together the world’s best and brightest startups and experts to create the future of financial services. The new site in Mumbai marks the opening of Barclays’ sixth Rise site globally, following the London, Manchester, New York, Cape Town and Tel Aviv hubs.

Rise Mumbai will provide a physical site for innovative fintech companies, offering a co-working environment, world-class event spaces and meeting rooms. The Mumbai site, located in Peninsula Business Park at Lower Parel is in partnership with 91springboard.

At the launch event, the finalists of Risehack will have the opportunity to present their project to a group of senior Barclays stakeholders, renowned industry experts, and the global Rise community. The winners receive a cash prize of INR 2, 00,000 per category along with being a part of the Global Rise network.

Risehack is a fintech Hackathon, focused on disrupting the finance domain using cutting–edge technologies. The Hackathon has spanned three phases; phase one was held online from 28 April to 17 May and focused on team building, idea submission, and coding contests. There was a total of 212 entries from over 600 participants. In the second phase, which began on 18 May, participants worked on executing the submitted idea with mentorship from Barclays, Pitch coaching by Rising Global experts and code reviews by the Acehacker team.

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Jaideep Khanna, CEO & Country Head, Barclays India said, “The start-up ecosystem is witnessing a steep increase in activity and interest from investors with even large corporates looking to invest in this space. Rise provides us with the opportunity to leverage our client relationships and experience to play a relevant role in the growth of the fintech community in India.”

Lubaina Manji, Barclays Head of Rise and Group Innovation Office said, “At Barclays we are embracing the opportunities and expertise of the startup ecosystem, working together to drive innovation in financial services. Rise Mumbai will give technology entrepreneurs in India access to a global network of experts, businesses, and partners, setting them up for rapid scale and growth. We are very excited about the launch and look forward to tapping into India’s budding fintech ecosystem, widening our global reach.”

The Rise platform and creation of an ecosystem of fintech start-ups will allow people from different geographies to interact with each other. The partnership with 91springboard will give the Rise network instant access to the former’s start-up community currently spread across six cities in India.

Varun Chawla, co-founder, 91springboard said, “When we started 91springboard, it was our dream to enable entrepreneurs to create products and services of the future. The launch of Rise Mumbai is a massive milestone for us and we are proud to play a pivotal role in making India a part of this global collaboration network. Rise Mumbai is poised to fundamentally shift the paradigm for Fintech entrepreneurs in India by providing unprecedented access to customers as well as technical expertise. If you combine this with the enabling regulatory and data framework that is emerging in India, it makes for very exciting times ahead!”

About Rise

Rise, in partnership with Barclays, brings together the world’s best and brightest startups and experts to create the future of financial services.

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Where product innovations and industry developments were once born of corporations and institutions, many are now being created by entrepreneurial individuals around the world who are working with increased speed to disrupt the business models of the past. In order to work with these entrepreneurs in a mutually beneficial way, Barclays established Rise.

With the expertise and scale of Barclays, Rise achieves a unique synthesis of speed and security, youth and wisdom, ideas and knowledge. With a global network of talent, world-class innovation, programs and workspaces, Rise is an exclusive community where the brightest and best can develop, collaborate, and scale together.

Please visit thinkrise.com or contact mum@thinkrise.com for more information.

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

Barclays operates in over 40 countries and employs approximately 130,000 people.Over 325 years of history and expertise in banking.Barclays moves, lends, invests and protects money for customers and clients worldwide.

About 91springboard

Founded in 2012. 91springboard is a vibrant coworking community of freelancers, startups, small businesses and often small teams of large corporations. 91springboard is dedicated to making work-life easy and fun while playing an integral role in helping their member organizations grow. Members get access to a coworking space with 24×7 office-infrastructure support, key service providers, knowledge sharing & collaboration, networking and of course, a free-spirited culture that breeds innovation! .91springboard organizes a number of events for people to gain the knowledge, network and support needed to grow their business. 91springboard is currently in 6 cities: Delhi, Gurgaon, Noida, Navi Mumbai, Bangalore & Hyderabad and has over 1000 members across their hubs.

Sachin Agarwal

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