City-based equity crowdfunding platform OurCrowd has tied up with Reliance Industries, Reliance Private Client, Yes Bank and Let’s Venture to cash in on India’s burgeoning fintech ecosystem, OurCrowd chief executive officer Jon Medved said. “We think that India is highly under-invested and it’s going to be an explosive market over the next couple of decades,” Medved said. OurCrowd enables start-ups to connect with prospective investors and is currently distributing its products to high-networth clients of Reliance Private Client. The partnership with Reliance Industries entails the setting up of a high-tech incubator in Jerusalem to foster companies working with technologies such as artificial intelligence and machine learning.
As part of the tie-up with Yes Bank, there will be an accelerator programme for fintech start-ups and an opportunity for such ventures in India and Israel to access each other’s markets. OurCrowd also participated in the early rounds of Bengaluru-based self-drive car rental company ZoomCar. The platform has a community of about 20,000 investors from over 112 countries. Since launch in 2013, it has raised over $440 million and invested in 120 portfolio companies and funds.
(Travel for this report was sponsored by the ministry of foreign affairs, Israel)