Global Fintech Festival 2023 aims to aid startups bag USD 10 mn in funding

Mumbai: Global Fintech Festival (GFF) organisers on Friday said they are aiming to facilitate funding of over USD 10 million at the upcoming event in the financial capital.

This funding target is for startups alone and excludes growth-stage companies which will initiate conversations with investors at the three-day GFF starting from September 5.

"In the start-up category, about USD 10-20 million funding will happen at the event itself," its organizers and advisory board member Naveen Surya said.

He said 50 fintech companies will be making a pitch to over 200 investors who are expected to attend the event, and the average funding in startups will be about USD 1 million.

The target excludes funding in growth stage companies, and can go up to USD 50 million, where the GFF will serve as the place where the talks between a company and an investor get initiated, he said.

The third edition of the GFF will have over 50,000 attendees, 5,000 exhibitors displaying their wares, and over 800 speakers from 100 countries.

Union Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, RBI Governor Shaktikanta Das, Sebi chairperson Madhabi Puri Buch, Irdai chairman Debasish Panda and SBI chairman Dinesh Khara will be among the speakers at the event.

Consultancy firm BCG's Yashraj Erande said the event will attempt to influence billions of dollars of capital flowing into the fintechs and also some changes in policies..

The UK, Israel, Australia, Brazil and Germany are getting country delegations at the event, the organizers said.