PayU and IDFC FIRST Bank to Drive Innovation for Indian Startups

At the Global Fintech Festival (GFF) 2025, PayU, India’s leading diversified fintech platform, and IDFC FIRST Bank, one of India’s fastest-growing private sector banks, have signed a strategic Memorandum of Understanding (MOU) designed to transform access to tailored payment solutions,  investment, mentorship, and growth for both early-stage and growth-stage Indian startups. This MOU embodies PayU’s and IDFC FIRST Bank’s shared vision of nurturing India’s promising startups by providing them with the right platform and tools to grow and scale sustainably.

The collaboration will integrate PayU’s operational expertise into IDFC FIRST Bank’s flagship startup-oriented Founder Success Programs like Leap To Unicorn, FIRSTWINGS Connect, FIRST Symphony, etc. programs, to deliver cohesive go-to-market campaigns and integrated playbooks that combine payments technology and banking solutions and initiatives customized for startup founders. To begin with, PayU will serve as a payments solutions provider, investor, mentor, and corporate collaborator on IDFC FIRST Bank’s FIRSTWINGS Connect digital portal to empower startups registered on the portal.

Commenting on the partnership, Vineet Sethi, Chief Growth and Marketing officer, PayU said, “IDFC FIRST Bank’s startup initiative mirrors PayU’s commitment to nurturing and fueling early- and growth-stage startups in India. Given our expertise in mentoring startups through our own impactful startup programs, we now look forward to playing a pivotal role alongside IDFC FIRST Bank to scale the next-generation of startup unicorns and help them achieve success.”

Bhavesh Jatania, Head, Startup Banking, IDFC FIRST Bank said, “At IDFC FIRST Bank, we are deeply committed to building a founder-first ecosystem that empowers entrepreneurs at every stage of their journey. Through our FIRSTWINGS Program, we aim to give startups access not just to capital, but also to the right partners and mentors to succeed. Partnering with PayU strengthens this vision, as their expertise in fintech innovation and scaling businesses, combined with ours, will create a stronger support system for entrepreneurs and accelerate innovation in India’s startup ecosystem." 

This partnership will further explore opportunities for operational integrations and co-branded GTM campaigns through IDFC FIRST Bank’s startup-focused initiatives, driving deeper distribution and engagement for promising startups.