India’s BankTech Sector: Anticipated $1 Billion Investment by 2027
Cedar-IBSi Capital’s Forecast
Cedar-IBSi Capital, a venture capital firm, anticipates investments in India’s BankTech sector to hit USD 1 billion by 2027. This forecast arises as India sets its sights on a USD 7 trillion GDP by 2030, with the banking sector taking the lead in fueling economic growth.
Digital Transformation
- Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, highlights the influence of the technological revolution on banking services in India.
- Studies reveal that 80% of conventional banking services can now be accessed digitally.
- Technology is vital in advancing financial inclusion and delivering banking services to remote areas.
Innovative Technologies Remodeling the Sector
- Cloud computing provides scalability, agility, and cost-effectiveness for banking infrastructure.
- Blockchain technology ensures secure and transparent transactions, transforming supply chain finance and identity management.
Cedar-IBSi Capital’s Approach
- The Rs 240-crore fund has already invested in two BankTech sector startups.
- Cedar-IBSi Capital aims to grow its portfolio to 10-15 early-stage startups in the near future.
- The objective is to financially empower 8-10 top-performing enterprises within the banking technology ecosystem.
