Kotak Securities launches programme to invest in fintech startups

Jaideep Hansraj, MD and CEO of Kotak Securities said broking and distribution business has become more of a technology play and this has gained further prominence in the new normal.

New Delhi: Kotak Securities Ltd (KSL) on Tuesday announced the launch of its startups investment and engagement programme to invest in fintech companies. For this initiative, KSL has set up an exclusive Corporate Development Department (CDD) with an initial investment corpus of Rs 50 crore. “Through this programme, KSL will be incubating and investing into innovative fintech and technology startup companies,” it said in a statement.

Jaideep Hansraj, MD and CEO of Kotak Securities said 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 Securities,” he said.