500 Startups is adding a couple new micro-funds as it looks to further grow its investments in India and FinTech Markets. The $25 million funds, named 500 FinTech and 500 Kulfi (after a popular Indian frozen dairy treat), will continue to focus on early stage investments in those spaces.
500 Startups currently has over 80 FinTech investments that have made over the past six years, including investments in CreditKarma and Flywire.
In a post on 500’s blog, Partner Sheel Mohnot, who will be heading up the fund, detailed a few insights learned, including the importance of the proliferation of smartphones to cutting costs associated with financial services and the fact that “traditional” financial institutions are not innovating quickly enough.
500’s tagline for the new…