Mumbai-based fintech startup finpin has been selected for Facebook’s developer-focused programme “FbStart” which caters to the early-stage, mobile-focused startups.
As part of the programme, the startup will be provided with services & credits worth $40,000. The services include mentorship from Facebook’s engineering teams and services from its partners like Amazon Web Services, Dropbox, Adobe, and MailChimp.
Currently operating in a beta phase and bootstrapped to date, the startup was launched in late 2016 by Dhruv Arora and Apurva Parekh. finpin is being designed to be an Intelligent Financial Navigator and is based on their own proprietary four stage financial engagement process. The team create a personalised and optimal spending, saving and investment strategy.
As Dhruv stated, “We are a fintech firm but not into lending, payments, budgeting, robo-advisory or investment tech. Users will eventually want all financial services to be personalized. We believe intelligent PFM is the way forward in fintech.”
The platform provides users with a dedicated certified financial planner, who can respond to the queries via mail or phone. Personalised dashboards, 24×7 access to finpin via Android app & web portal, reports & reminders on ‘To Do’ action points, are some other benefits a user will get with finpin.
Also, the founders plans to run an online library of articles and blogs to help users understand their finances better.
Facebook launched FbStart in 2014 with an aim to help early-stage mobile startups build and grow their apps. It provides an exclusive community, worldwide events, and mentorship from Facebook to the startups along with $80K in free tools and services.
FbStart includes three tracks, viz., Pre-launch (up to $15K benefits), Bootstrap (up to $30K benefits), and Accelerate (up to $80K benefits). The programme provides free access to more than 25 services including open source tools like React Native, FB Login and Account Kit and App Analytics.
India is the largest market for FbStart outside the US. According to the product partnerships team at Facebook, over 75% of top-grossing apps in India get integrated with Facebook.
Other startups accepted to FBStart programme this year include Video Vibe, FoodCloud, Healofy, AsepsisLife, Partiko, Flicksup, CoutLoot, XPrep, Fixu and more.