British banking group Barclays has launched Rise, its physical and virtual global start-up community, in Mumbai, India.
The hub, launched in collaboration with 91springboard, will offer a physical site for innovative fintech firms. It will include a co-working environment, world-class event spaces and meeting rooms.
Plans for the new Mumbai fintech hub were first announced by the lender in March 2016.
Rise Mumbai is the lender’s sixth Rise hub, with other hubs located in London, Manchester, New York, Cape Town and Tel Aviv.
Barclays India CEO and country head Jaideep Khanna said: "The startup ecosystem is witnessing a steep increase in activity and interest from investors with even large corporates looking to invest in this space. Rise provides us with the opportunity to leverage our client relationships and experience to play a relevant role in the growth of the fintech community in India."
Barclays head of Rise and group innovation office Lubaina Manji added: "At Barclays we are embracing the opportunities and expertise of the startup ecosystem, working together to drive innovation in financial services. Rise Mumbai will give technology entrepreneurs in India access to a global network of experts, businesses and partners, setting them up for rapid scale and growth."