It also plans to build a concentrated portfolio of a dozen fintech companies in a market valued at $75 billion, which is likely to touch $200+ billion by 2025. Beams was co-founded by fintech veterans Sagar Agarvwal, Dr Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. Naveen Surya, chairman of the FinTech Convergence Council and founder of ItzCash (now EbixInc), joined the core founding team as a fintech expert partner (non-executive).
Beams is already in advanced stages of its first close. In addition, it also assists in expediting the go-to-market strategy of its portfolio companies in India and abroad. Additionally, Beams would also provide access to Venture Catalysts’s 250+ portfolio companies and 195+ corporates for partnerships through IncubateHub. Fintech 3.0 Emphasising on the sectoral opportunities, Agarvwal said, “Fintech is consuming an increasingly large slice of the software pie. We are in fintech 3.0 right now in India. With the first wave of lending and payments companies having received a significant amount of capital, investments are moving to newer categories to solve the additional demand for financial services. We estimate that the maximum number of unicorns in India will be from the fintech space over the next decade.”
“Opportunities in fintech are huge in India, as it is the only tech segment that has created over $75 billion in value and $ 8 bi l lion in M&As. A testament to this has been BharatPe becoming the fastest unicorn and giving investors 90x return from the exit. We are creating more unicorns in this space with one of the best fintech investing teams in India while holding an excellent track record,” Golecha said.
Dr Sharma added, “We are a strong, thesis driven team of investors, and Covid has further strengthened us in the fintech space. We expect nearly $200 billion of new value creation through existing and new fintech startups in India over the next five to seven years. Beams will primarily focus on segments such as embedded finance, enterprise and SaaS products, neo banks and platforms catering to MSMEs.”
“The need for capital, knowledge, and support that’s required for fintech companies at their growth stages is much different than at an early stage. Beams provides an opportunity to support talented founders who are solving key problems for enterprises and consumers in the financial services space,” said Surya, who built India’s first digital wallet ItzCash and exited at $130 million.
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