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| NCOME Team |
Aiming to further disrupt the high-potential fintech landscape, the pre-seed investment round also saw participation from 9Unicorns, LetsVenture and PointOne Capital
Powered by one of India's largest private banks and a leading trusteeship company, NCOME provides enterprise and individual customers with fast, secure, and low-cost digital escrow service. It leverages cutting-edge technology to streamline conventional processes through online KYCs and digital escrow account openings. With an easy-to-use account management suite, it also enables its customers to manage their digital escrow accounts in a hassle-free manner.
Speaking on the investment, Vineet K. Singh, Co-Founder–NCOME, said, "We are over-whelmed by the response that we've got from Investors during these times. Escrow-as-a-Service is a huge, under-served opportunity and we feel privileged to be the amongst the First Movers in this space. Our initial traction is outstanding and more importantly industry-agnostic and it vindicates our belief that we are solving a large problem and a large, profitable business can be built in doing so."
Dr. Apoorva Ranjan Sharma, Co-founder & President – Venture Catalysts & 9Unicorns, said, "Fintech is one of the most promising and exciting sectors in India and played a major role in keeping the economy ticking during the COVID-19 outbreak. NCOME represents the next phase of the industry's exponential growth trajectory and is addressing a massive market white space with its unique service offering. We are confident that, with an experienced founding team at its helm, it will drive greater fintech disruption by democratising digital escrow transactions for all."
ArchanaPriyadarshini, General Partner-PointOne Capital said, "We believe NCOME will be democratizing the escrow service which is very much needed for gig economy and rise of marketplaces. It will usher in a new era of secure transactions for both buyers and sellers".
The founding team at NCOME comes with extensive industry experience and a proven track record of growing successful businesses. Over the last two decades, its Co-founder & CEO, Vineet Singh, has built several multi-crore businesses across domains as diverse as payments, real estate, e-commerce, jobs, matrimony, and travel. Some of these include MobiKwik, Buildzar, 99acres.com, Naukri.com, NaukriGulf, Naukri Fast Forward, and Jeevansathi.com.
On the other hand, Ritesh Tiwari (Co-founder & CPO – NCOME) has more than 10 years of experience in building innovative digital payments, prepaid card, neobanking, and investment banking products. Having worked with leading global organisations such as Omnio, Ensygnia, Barclays, and JP Morgan Chase, he was also selected by the UK government under the Exceptional Talent Visa scheme in the fintech vertical and was part of its fintech delegation to India in 2019.
Venture Catalysts is India's first integrated incubator. It invests $250K – $1.5 Million in early stage startups that have potential to create enduring value for over a long period of time. Venture Catalysts brings a lethal combination of Capital, Mentoring and Business Network to help investee companies to succeed. Their innovation provides value to startups through its extensive angel network, funding, community, services and co-working facility.
9Unicorns is India's First Accelerator VC providing acceleration support & seed funding to early-stage start-ups. The funding can be provided up to $100K per start-up in the first round, and may invest further $500K-$2Mn in successive rounds with its co-investors. From the idea stage to the angel stage, it supports start-ups across various themes & sectors.
9Unicorns' strength & focus is to provide a hands-on support ecosystem for start-ups, beyond capital. 9Unicorns, besides investment, opens doors to the startupsfor access to a wide network of successful founders, category-leadrs, CXOs of large corporations, seasoned angel investors & partners of global VC funds. Every portfolio company receives acceleration support for 3 months & post-investment support of 18 months.
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