India's fintech market is ballooning thanks to several factors within the country, including favorable demographics, growing technology adoption among its citizenry, higher disposable incomes, supportive regulators encouraging innovation, and more savvy and aware customers.
The sector is estimated to reach $1 trillion in assets under management by 2030, according to a report published by Chiratae Ventures and EY. This is a tenfold increase from its AUM of roughly $100 billion in 2021.
Earlier today, here at International Business Times, we received the announcement that all-rounded technology ecosystem provider, YUSE (YUSE.io), has been awarded a substantial, undisclosed investment amount into the company by notable financial technology (FinTech) influencer, Herbert Sim; and will personally be joining the company as an advisor too.
Hailing originally from Kolkata, India, founder, and chief operating officer Umesh Pandey shared with International Business Times: "We are deeply honored to have one of the world's most renown FinTech influencers to have had invested and even joined us as an advisor. With Herbert's wealth of knowledge and experience in the industry, our community can expect exponential growth of the company in the near future."
Speaking about the investment to International Business Times, Herbert Sim said: "We get pitched to by countless projects and startups daily, and we have personally handpicked YUSE Tech, for various reasons. They have multiple functioning apps within its ecosystem such as decentralized finance (DeFi), digital art marketplace, entertainment app for Video creators, gaming in metaverse, cloud storage services, artificial intelligence (AI) powered dating app and more."
Sim is among the world's less than 100 verified 'blue tick' figures across all major social media platforms - Facebook, Twitter, Instagram (by the handle of @HerbertRsim) in the FinTech industry.
Sim also involved with many philanthropic activities championing World Vision's children living in poverty. In addition to that, Sim has an impressive academical background, equipped with a MBA from the University of Wolverhampton, UK, and a BA in Mass Communications from Oklahoma City University, USA.