Switzerland-based EST Group announced on September 27 that it will invest $250 million in the next 18 months into various Indian Fintech companies.
EST Group said in a release that it is very bullish about the Indian market due to great potential for new opportunities.
CEO and Director at EST Group Sindhu Bhaskar noted:
“India’s largest asset is its intelligent and educated human capital and it is important to use these resources by allowing them to innovate in a problem area and then giving access to capital.”
EST Group’s investment will go toward the organization’s vision of “building an aggregated platform for capital, that will allocate impactfully to help growth sectors in [India’s] economy,” according to an official statement.
Sajid Jamal, who leads EST Group’s venture fund, stated that the amount of capital invested is sufficient, however, it’s scattered. He explained that EST is planning to aggregate unused capital by investing in financial technology, while using AI voice command technology to allocate capital to small and medium-sized businesses (SMEs), startups and agriculture verticals.
“For this, we have decided not to start from scratch but to invest in existing platforms and then connect this platform to one larger ecosystem platform that will help in enhancing growth in the economy by solving grassroots problems.”
EST Group provides asset management and financial advisory services. The company also conducts semi-banking operations, and offers custodial, clearing and settlement and security issuance services.
EST Group has business offices in Europe, London, Latin America, and southeast Asia.
The group’s recently established UK-based fintech arm is planning to invest in financial markets, banking operations, AI-enabled wealth management services, machine learning and blockchain technology.