Predict your next investment

Incubator/Accelerator
ismeace.com

See what CB Insights has to offer

Investments

8

Funds

1

About ISME ACE

ISME ACE is a startup accelerator program that helps startup entrepreneurs to create scalable business in the market with real customer data.

ISME ACE Headquarter Location

3rd floor, South Annex, Tower-2 One Indiabulls, Elphinstone

Mumbai, 400013,

India

+91 22 6263 5900

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest ISME ACE News

Micro Lending Company SmartCoin Raises $2 Mn In Pre-Series A Funding

Mar 28, 2018

Bengaluru-based micro lending company SmartCoin has raised $2 Mn in a Pre-Series A round of funding led by an undisclosed Chinese venture fund. Others that participated in the round include US-based Accion Venture Lab, Unicorn India Ventures and ISME ACE, a Mumbai-based fintech accelerator. The company will use the funding to upgrade its technology platform and grow the team as it continues its expansion plans and looks to acquire more customers. Commenting on the development, Rohit Garg, co-founder and CEO, SmartCoin said, “We believe that we have just managed to scratch the surface and this opportunity remains hugely untapped. Thus, bringing on board large investors who understand fintech better will help us extend our customer base over time.” Speaking on the funding, Michael Schlein, president and CEO, Accion Venture Lab said, “SmartCoin illustrates how innovative lenders are leveraging data, mobile access, and India’s digital infrastructure to extend loan access for the financially underserved.” SmartCoin is a mobile app-based lending platform that claims to assess the risk profile of a prospective borrower in real-time, by using data science and machine learning algorithms. SmartCoin’s proprietary credit underwriting engine aggregates thousands of data points on a customer’s smartphone, including financial transactions, device usage, and app behaviour, to build a customised credit score. The Growth Of Fintech Segment In the micro lending space, SmartCoin competes with players like KrazyBee, Buddy, Onemi, Finomena and Quicklo. Other startups in the lending space are Cash Suvidha, Creditas etc which also recently raised funds. Recently, Delhi-based online lending platform Cash Suvidha raised $1 Mn in a Pre-Series A funding round from Initia Holdings; Vipin Agarwal, Partner in India Industrial Growth Fund and others. Also, Gurugram-based fintech startup, Creditas Solutions, raised an undisclosed amount in a Pre-Series A funding round led by its existing investor 1Crowd, an equity crowdfunding platform. Prior to this, in February, Ahmedabad-based SME lending platform Lendingkart has secured over $87 Mn in an equity funding round as part of its Series C round. In December 2017, Bengaluru-based online SME lending platform Capital Float raised $45 Mn Series C funding, led by Silicon Valley-based Ribbit Capital. In October 2017, Bengaluru-based micro lending platform KrazyBee raised $8 Mn Series A equity and debt financing led by Xiaomi Technologies and Shunwei Capital. Overall, as per Inc42 DataLabs Indian Startup Funding report 2017, the Indian fintech industry has received $3.01 Bn across 111 deals in 2017. The rising investor’s interest in the online lending domain is on the back of increasing opportunities in the Indian fintech and lending segment. A NASSCOM report has earlier forecasted that the Indian fintech software market will touch $2.4 Bn by 2020, from the current $1.2 Bn. As even the central government has recognised the growth potential of the fintech sector, corporates and startups are now working extensively on their products. With the latest round of funding, the product portfolio of micro lending company SmartCoin will be worth keeping an eye on. [The development was reported by Livemint] Note: We at Inc42 take our ethics very seriously. More information about it can be found here.  Previous article

ISME ACE Investments

8 Investments

ISME ACE has made 8 investments. Their latest investment was in Open as part of their Seed VC on May 5, 2018.

CBI Logo

ISME ACE Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/17/2018

Seed VC

Open

$2M

No

2

1/25/2018

Seed VC - II

Subscribe to see more

$99M

Subscribe to see more

10

1/25/2018

Seed

Subscribe to see more

Subscribe to see more

10

1/25/2018

Seed - III

Subscribe to see more

Subscribe to see more

10

1/25/2018

Seed

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/17/2018

1/25/2018

1/25/2018

1/25/2018

1/25/2018

Round

Seed VC

Seed VC - II

Seed

Seed - III

Seed

Company

Open

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$2M

$99M

$99M

New?

No

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

10

10

10

10

ISME ACE Fund History

1 Fund History

ISME ACE has 1 fund, including ISME ACE Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

ISME ACE Fund I

1

Closing Date

Fund

ISME ACE Fund I

Fund Type

Status

Amount

Sources

1

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.