Hiten Shukla, Ahmedabad: GVFL Limited has signed an MOU with YES BANK, to strengthen Fintech led innovation and support the growth of the Indian Startup ecosystem. The MoU will enable the Bank to offer various products, digital banking solutions, and many other facilities that will benefit the Startups associated with GVFL Limited.
The Bank will offer its curated digital transaction banking product suite including its flagship API based offerings, to the Startups and FinTech Companies. Further, the MoU will promote innovation and investments across India by leveraging the capabilities of GVFL and YES BANK.
Speaking at the event, Mr. Dukhabandhu Rath, MD – GVFL Limited, said, “We have observed increasing number of Startups in Fintech space with newer and innovative business models. GVFL’s partnership with YES BANK will enable many Fintech Startups to access the Bank’s technology framework and also additional financial support.”
Mr. Prashant Kumar, MD & CEO, YES BANK, said, “YES BANK’s partnership with GVFL is a significant joint effort, not only towards boosting the start-up community, but also creating an ecosystem that stimulates independent thinking and innovative ideas. Towards this endeavor, we are very happy to announce this MoU with GVFL today, which aims to provide all required enablers to scale-up the startup ecosystem – a key focus area for the Government of India. YES BANK is committed to work with institutions and partners to help in further strengthening of the ecosystem.”
ABOUT GVFL Limited
GVFL Limited (formerly Gujarat Venture Finance Limited) is widely regarded as pioneer of Venture capital in India. It is an independent, autonomous Board managed venture finance company based in Ahmedabad, Gujarat, India.
GVFL ushered in the dawn of venture capital in India. Founded in 1990 at the initiative of World Bank, GVFL has supported ventures working on cutting edge of technology as well as encouraged entrepreneurs with innovative ideas. Over the past three decades GVFL has raised 8 venture capital funds and has carved a niche for itself by making marquee investments in 94 companies across sectors through various funds. GVFL endeavors to empower next generation business leaders build sustainable organizations, deliver better results and nurture the overall ecosystem.
ABOUT GVFL Limited
GVFL Limited (formerly Gujarat Venture Finance Limited) is widely regarded as pioneer of Venture capital in India. It is an independent, autonomous Board managed venture finance company based in Ahmedabad, Gujarat, India.
GVFL ushered in the dawn of venture capital in India. Founded in 1990 at the initiative of World Bank, GVFL has supported ventures working on cutting edge of technology as well as encouraged entrepreneurs with innovative ideas. Over the past three decades GVFL has raised 8 venture capital funds and has carved a niche for itself by making marquee investments in 94 companies across sectors through various funds. GVFL endeavors to empower next generation business leaders build sustainable organizations, deliver better results and nurture the overall ecosystem.
About YES BANK YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
