Focusing exclusively on the fintech sector, Moscow based venture firm LifeSREDA has been working on expanding its image globally beyond just investing in firms outside of its geographical borders. This includes the opening of a Singapore office as well as producing a wide reaching fintech report that reviewed 2014 and provided predictions for 2015.
Expanding its presence again, LifeSREDA has announced the launch of a Singapore based fintech Accelerator , InspirAsia. The program is open to seed and series-A stage startups from any country in Asia. Continuing with where LifeSREDA has garnered expertise with their investments, the program will focus on admitting startups mainly in the mobile Payments and online banking sector as well as P2P lending.
The program is open to seed and series-A stage startups from any country in Asia
According to LifeSREDA, the accelerator will accept between 10-20 firms in the 90 day program. Participants will be able to receive investments between $50,000 to $300,000 based on the maturity of the firm, as well as benefitting from free office space and $200,000 in support services.
As part of its efforts to assist accepted firms, LifeSREDA will be presenting a Demo Day for its accelerator within the Money of the Future conference in Singapore, with top startups also invited to participate in Finovate in the US.
For LifeSREDA, the launch of the accelerator comes as they are stepping up their investment initiatives. Beginning with a $40 million fund, the venture firm announced in March that it was raising investments for a new $100 million fund. Previous investments include Fidor Bank, Moven, and Simple.
