Global Fintech Festival (GFF) organisers on Friday said they are aiming to facilitate funding of over USD 10 million at the upcoming event in the financial capital. This fintech conference is jointly organised by the National Payments Corporation of India (NPCI), the Payments Council of India (PCI), and the Fintech Convergence Council (FCC).
This funding target is for start-ups alone and excludes growth-stage companies that will initiate conversations with investors at the three-day GFF starting September 5.
"In the start-up category, about $10 million to $20 million funding will happen at the event itself," its organiser and advisory board member Naveen Surya said.
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He said 50 fintech companies will be making a pitch to over 200 investors who are expected to attend the event, and the average funding in startups will be about $1 million.
The target excludes funding in growth stage companies and can go up to $50 million, where the GFF will serve as the place where the talks between a company and an investor get initiated, he said. The third edition of the GFF will have over 50,000 attendees, 5,000 exhibitors displaying their wares, and over 800 speakers from 100 countries. The organisers said the UK, Israel, Australia, Brazil and Germany are getting country delegations at the event.
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Union Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, RBI Governor Shaktikanta Das, Sebi chairperson Madhabi Puri Buch, Irdai chairman Debasish Panda and SBI chairman Dinesh Khara will be among the speakers at the event.
Consultancy firm BCG's Yashraj Erande said the event will attempt to influence billions of dollars of capital flowing into the fintechs and some policy changes.
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