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Neokred Joins Hands With Fintech Incubator Afthonia Lab

The partnership aims to innovate and infuse new solutions in the Indian financial environment, ushering growth.

Neokred, an Open Banking Stack that offers curated versions of issuance in the payment ecosystem, has partnered with Afthonia Lab, India’s foremost private FinTech incubator that helps early stage fintech start-ups become business ready and creates a safe space for them to innovate and infuse fresh solutions that usher in transformation in the Indian financial industry. This partnership will allow Afthonia Lab’s portfolio companies to access Neokred’s extensive network and provide their solutions. This partnership will also enable Neokred to gain access to Afthonia Lab’s distinctive fintech start-ups along with access to seasoned mentors and advisors empanelled with Afthonia Lab and augur opportunities for new areas of growth.  

Neokred and Afthonia Lab hope to grow together in this partnership with the vision of achieving the same goal: Strengthening India’s financial industry with innovation. The two organisations hope to encourage more innovators to create solutions for the current systemic gaps and create new digital pathways for legacy systems. The partnership is yet another more step in co-creating a collaborative environment something that Afthonia Lab has been pioneering, to help new start-ups test their ideas in new markets while being supported by a strong ecosystem.

Tanul Mishra, CEO, Afthonia Lab says, “We are pleased to partner with a like-minded fintech institution like Neokred and we view this partnership as a step forward in helping the Indian financial service ecosystem usher in rapid transformation and unlock hidden value with the innovations that are emerging through our start-ups. We at Afthonia Lab remain focused on further strengthening our leadership in the financial service industry through partnerships and exceed the expectations of our start-ups by helping them with the right mentorship and guidance to scale their products in the Indian and International markets through forward-thinking partnerships and strong networks that become the fertile ground for their ideas to take roots and create a lasting impact. “

Neokred is a Fintech infrastructure company that empowers corporates, fintech and start-ups to pioneer their own banking services with the help of innovative tools. Aiming to democratize banking infrastructure by lubricating its interior processes, Neokred, with its technological propensity bridges companies and employees through its new-age API & SDK banking offerings. The Bengaluru-based start-up, co-founded by Tarun Nazare and Rohith Reji in 2019, has issued more than 2 lakh cards since December 2020.

Rohith Reji, Co- Founder and CBO, Neokred says, “We are excited to be Growth Partners with Afthonia Lab and are looking forward to help develop India’s financial service ecosystem. Our goal has always been to “Democratize Open Banking” by providing more solutions and with this partnership, we are hoping to achieve mutual growth in the process. We are eager to work closely with the unique fintech startups of the Afthonia Lab network and democratize the banking infrastructure.”

Source: Business World

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