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Nomura sets up $92 million fund to help Indian fintech startups

With the announcement, the Japanese investment bank emphasised its eagerness in assisting technology startups in India’s Financial market.

With the aim of promoting and encouraging promising technology start-ups in the financial market, Japanese investment bank Nomura recently announced its plans to invest $92 million in the sector. With the same goal in mind, the financial major also announced the launch of the ‘Voyager – Nomura FinTech Partnership’ in India, in the official statement issued on Wednesday, April 19.

Yo Akatsuka, Senior Managing Director, Innovations, Nomura Holdings Inc, also stated that the company plans to create a 10 billion yen ($92 million/Rs 6 billion)) fund which will be used to help start-ups with funding and financial backing. The Voyager initiative in India, said Akatsuka, signifies the company’s dedication towards its efforts in interacting with Indian start-ups and promoting financial innovation.

The statement also added that Nomura has been actively urging entrepreneurs to take part in the program to develop game-changing solutions for capital markets and investment banking, which can be utilised in the firm and financial industry of the country. To this effect, a Nomura Innovation Centre, called NICe, has been set up in Mumbai’s Powai locality, which will be a platform provided to start-ups which get selected for the Voyager program.

R.K. Rangan, President & CEO, Nomura Services India, added in the statement that new technology, assisted by an innovation-driven ecosystem, has led to an environment which strongly encourages alliances with emerging and established market players. And taking advantage of this, Voyager has been specifically designed to help start-ups interact and collaborate with Nomura to utilise its global network in driving innovation.

Nomura’s statement elaborated further that eventually, the partnership could even result in Nomura becoming a potential client and/or investor in the startups, and entrepreneurs working at NICe will have access to the vast resources of the company, and be able to use its people, process, and technology to test their concepts and solutions.

Photograph: MIKI/Yoshihito/Flickr 

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