Funding News

Afthonia Lab pulls in investor interest to build corpus upto 5Cr

Afthonia Lab, the first of its kind fintech incubator in India, has pulled together key players in the investor community to build a corpus INR 3Cr -5Cr. The incubator has pioneered in providing unparalleled access to global mentors and key industry veterans for its incubated startups since its launch in May 2019 in order to help innovative fintech startups build strong and sustainable businesses.

Tanul Mishra, Founder and CEO of Afthonia Lab

Continuing in this vein, Afthonia Lab has now partnered with key players in the investor community to provide access to funds by building a corpus with empaneled investors who will evaluate Afthonia incubated businesses. These key partners include Gilda VC, Itigo and Shridham and other angel investors as well.

The funding opportunity being extended to Afthonia incubated startups will be used to help these early stage fintech startups build solid businesses, solve operational and team related challenges and also find the right product-market fit as they test out efficacy across different use cases in the financial industry and also across geographies. The investor panel will additionally work in tandem with Afthonia to help these businesses reach markets and gain a foothold in the competitive and dynamic fintech industry.

Afthonia Lab aims to empower smart-tech talent available to India, which is in need of reliable mentorship and resources. This development is a step in the right direction to be able to bring in more specialization and help for Indian fintech innovations to find their niche and also the right access at the right time in a crowded marketplace.

Afthonia Lab works to nurture fintech startups exclusively with an aim to become a one-stop destination that delivers opportunities, solutions and resources for promising fintech startups. As such the incubator, follows a strict selection criterion for the startups it intakes. Once on boarded startups can expect support in the form of solutions like mentorship, operational intervention, funding access and physical location to help their incubated focus on their core competence and create a sound and solid business.

Speaking about the investment opportunity, Tanul Mishra, CEO of Afthonia Lab adds “We are extremely excited to have all these esteemed investors as a part of our journey, especially considering their past success and the rich experience that can add immense value for each of our startups. The fintech industry is essential to driving growth as we enter a post digital era of business. Financial transactions are industry agnostic and the very foundation of any business. We want to empower players who are bringing disruption and efficiency to how businesses and people transact in the financial realm, as we see immense latent opportunity in this space.” 

About Afthonia Lab

Founded by Ms. Tanul Mishra in 2018 Afthonia, headquartered in Bangalore is India’s foremost incubator that helps fintech startups with a safe ecosystem wherein startups can experiment, grow and flourish. Afthonia is driven to create a robust ecosystem which provides, a) Access to a quality network to enable a sound product market fit b) Value based learning through well thought out mentoring program c) Timely access to VC community. The incubator aims to be a one stop destination for fintech startups with an experienced and well-structured body of mentors from diverse sectors in India and abroad.

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