NeoBenk, a Worldwide Digital Payment Corporation, announced that it is setting up an investment of $10 million in the Indian market of its global investment program of $50 Million (about Rs37.5 Crore).
“As investors get cautious about dealmaking in India amid the coronavirus outbreak and their appetite for funding early stage startups are evaporating, NeoBenk Ventures is stepping up to make that void smaller with its NeoBenk Global Partners Program,” NeoBenk said in its press release.
The venture firm will offer fast funding to startups and businesses to build successful startups in the region and also help in the mass adoption of digital currencies by facilitating local partnerships.
Under the new strategy of investment, the venture firm will target currency exchanges, money service businesses, and payment and remittance solutions of India to offer a safer, faster, and more convenient payment experience for NeoBenk customers and help drive incremental access to Digital Assets.
“We are investing in startups and businesses operating in a wide range of financial services and planning to continue this strategy and add more areas of interest.” said Indranil Sinha, President of NeoBenk, in an interview with FMS International.
NeoBenk, a technology-driven financial services company founded on Swiss and Hong Kong financial heritage operating globally — offers various products, including high interest-bearing personal accounts, business accounts, Line of credit, peer-to-peer payments, crypto trading, and more.
NeoBenk Ventures is a venture capital fund and a subsidiary of NeoBenk and invests in currency exchanges, money service businesses, and payment and remittance solutions.
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