Fintech Incubator Afthonia Lab Partners With YES BANK To Help Startups Develop APIs And Test Ideas
Afthonia Lab, an Indian fintech incubator, has partnered with YES BANK to helps its portfolio startups develop their APIs in a sandbox environment and test their solutions in real-time.
The partnership will not only help young startups test their models in a real-world scenario but also accelerate YES bank’s aim to become a tech-driven, digital-first national bank.
With this partnership, the startups under Afthonia Lab will also be able to access mentors at YES BANK. In exchange, the startups will help the bank digitise its processes.
Started by Tanul Mishra in 2019, Afthonia is a Bangalore based incubator that focuses on creating an ecosystem for fintech startups where they can thrive and prosper. In addition to space, Afthonia provides a mentorship team, an environment to test ideas and handholding to help raise funding.
Speaking on the development, Tanul Mishra says,
“I believe that while startups bring in the agility, banks can offer the power of scale. Partnering with like-minded, tech-driven leading banks such as YES BANK is a step forward in helping Indian fintech startups claim the stage of innovation and deliver on their ideas to create a lasting impact.”
Afthonia Lab, instead of charging companies a fee upfront, works on a percentage of equity. Currently, Afthonia Lab’s incubation programme has Niivo, Monech, Tarrakki, Earnvestt, and Blipstech in its portfolio.
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