Cedar-IBSi Capital is paving the path to transform the financial technology space in India. It has plans to invest in about 10 to 15 startups which are focused on banking and insurance technology. It is taking a bold step to modernize an outdated system.
Its ₹240 crore early-stage fund was launched in 2023 and has already garnered commitments of ₹50-75 crore. Cedar-IBSi Capital plans to invest ₹4-10 crore in each selected startup. It is basically focusing on high-potential companies that can deliver meaningful change. Founder and Managing Partner Sahil Anand said that the goal is clear and it is that they are looking to back startups offering unique as well as innovative technology to improve efficiency in financial institutions.
Its first investment is in Cogniquest that specializes in intelligent document processing and this reflects the vision of Cedar-IBSi. More investments are on the horizon and it is keen on supporting early-stage startups in their Seed to Series A rounds.
The problem Cedar-IBSi aims to address is both urgent and widespread. The core infrastructure of banks, insurance companies and other financial players is outdated. Anand said that they aim to fill the gap in the space and signalled the commitment of the fund to tackle the challenges.
Cedar-IBSi Capital is also focusing on startups led by experienced entrepreneurs as they understand the complexities of the BFSI (Banking, Financial Services and Insurance) sector. The firm hopes to strengthen solutions that are efficient and also scalable by prioritizing innovation in areas like enterprise fintech and banking technology.
The strategy is about investing in companies and also about driving a larger shift in the financial ecosystem. Cedar-IBSi Capital is helping to modernize legacy systems and bring much-needed efficiency to the industry by supporting startups with transformative ideas.
