Yes Bank Expands Fintech Accelerator Program & Other News That You Need To Know


Listed below are some of the major news of the startup sector, take a look to stay updated:

Yes Bank expands fintech accelerator program

Yes Bank Ltd., which started its accelerator program for fintech startups last year has expanded it to four new sectors.

The Mumbai-based bank launched Yes Scale, a 15-week accelerator program, for startups in the smart city, life sciences, and clean, agri and education technology sectors, according to a company statement.

The program is in line with the bank’s vision to cater to the “sunrise sectors” of India’s economy, Managing Director and Chief Executive Officer Rana Kapoor said in the statement.

Sebi panel to look at ways to ease listings for startups

To make stock market listing attractive for start-ups, regulator Securities and Exchange Board of India (Sebi) has set up a panel that will look at ways to ease such listings as the existing institutional trading platform framework failed to gain “any traction”.

The group will review the present institutional trading platform (ITP) framework in the current context as well as identify areas, if any, which require further changes. Besides, any other issue relevant to the framework might also be assessed, Sebi said in a press release.


Fourth Partner Energy raises funds

Fourth Partner Energy, a distributed solar solutions provider, on Friday announced a $70 million investment from The Rise Fund, a global impact investment fund managed by TPG Growth.

Founded in 2010 by Vivek Subramanian, Saif Dhorajiwala, and Vikas Saluguti, Fourth Partner Energy is a distributed energy management company with in-house capabilities across design, engineering, construction, service, monitoring, and financing.

With the fund-raiser, the company plans to accelerate its growth through the RESCO (renewable energy service company) model across industrial and commercial, corporate and public sector clients. The company is also looking to expand its operations to other geographies including South-East Asia, West Asia, and Africa.

Wow! Momo raises Series B funding

Wow! Momo, the Kolkata-headquartered branded momos chain announced that it has raised Series B funding of Rs 44 crore led by Lighthouse Funds and IAN at a valuation of Rs 230 crore.

Sagar Daryani, Co-Founder, and CEO at Wow! Momo said the current round of funding will be used for expansion and building of backend infrastructure of the brand. In a press announcement released by the company, Sagar added that their main aim is to build India’s version of McDonalds’ and grow globally. 

Today’s Take Away:

We are often worried about the size of our team if it is the right one if it is the one that would help us attain success.

Jason Fried, founder of 37signal said,

“There’s nothing wrong with staying small. You can do big things with a small team.”