Kotak Neo Launches Start-up Investment and Engagement Programme

Kotak Neo (Kotak Neo) today announced the launch of its maiden Start-up Investment and Engagement Programme. Through this programme, Kotak Neo will be incubating & investing into innovative fintech and technology start-up companies. Kotak Neo has set up an exclusive Corporate Development Department (CDD) for this initiative and an initial investment corpus of Rs 50 crore. Jaideep Hansraj, MD & CEO, Kotak Neo, said, “In today’s fast paced world of rapid advancements in technology, we need to be ahead of the curve in terms of product offerings to our customers. Broking and distribution business has become more of a technology play, and this has gained further prominence in the new normal. We strongly believe technology innovation will gauge the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in fintech companies that makes strategic sense to Kotak Neo.” Shripal Shah, President – Head Operations, Finance and Technology, Kotak Neo, said, “Kotak Neo will evaluate opportunities of investing, partnering and incubating start-ups and for the right idea, we are willing to back the promoters and take strategic equity stake in the startup. While we get access to some exciting technology plays, start-ups get the advantage of product validation, mentorship and institutional capital.”

Kotak Neo will launch incubation/accelerator programmes, hackathons, networking events, pitching sessions and demo day programmes for early stage start-ups in-house as well as with other incubator/accelerator groups. There will be a dedicated section on the Kotak Neo website where interested start-ups can register and submit innovative ideas and products for evaluation and find various updates under this programme.

About Kotak Neo

Kotak Neo (Kotak Neo) is a subsidiary of Kotak Mahindra Bank Limited and the stock broking arm of the Kotak Mahindra Group. As on 30th December 2020, Kotak Mahindra Bank Limited’s market capitalisation is close to Rs. 4 lakh crore. Further, with a net worth of Rs. 4,897 crore as on 30th September 2020, makes Kotak Neo the brokerage company with highest net worth in the Indian broking industry. Backed by top-of-the line research analyst team – fundamental as well as technical, large branch network, vast franchisee network and referral coordinators spread across Kona Kona of India, and its robust digital trading platform – Internet and App, and decentralized personal dealer services, Kotak Neo processes several lakhs of secondary market trades every day. Furthermore, Kotak Neo offers a wide range of financial products including Equity, Derivatives, Currency, Derivatives, Commodity Derivatives, IPOs, Mutual Funds and Insurance.