Kotak Securities launches programme to invest in fintech startups

It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in fintech companies that makes strategic sense to Kotak Securities, he said.

Kotak Securities Ltd (KSL) on Tuesday announced the launch of its startups investment and engagement programme to invest in fintech companies. For this initiative, KSL has set up an exclusive Corporate Development Department (CDD) with an initial investment corpus of Rs 50 crore.

''Through this programme, KSL will be incubating and investing into innovative fintech and technology startup companies,'' it said in a statement. Jaideep Hansraj, MD and CEO of Kotak Securities said broking and distribution business has become more of a technology play and this has gained further prominence in the new normal.

''We strongly believe technology innovation will gauge the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in fintech companies that makes strategic sense to Kotak Securities,'' he said. Through this programme, KSL will launch incubation and accelerator programmes, hackathons, networking events, pitching sessions and demo day programmes for early stage startups in-house as well as with other incubators.

There will be a dedicated section on the KSL website where interested startups can register and submit innovative ideas and products for evaluation and find various updates under this programme, it said..