New Delhi, March 11 : SCOPE VC, the investment banking arm of the invite-only networking platform SCOPE, on Monday, said that it has invested $450,000 in fintech startup AuthPay.

This investment follows SCOPE VC's recent launch of a $45 million venture capital (VC) fund dedicated to fueling innovation in the fintech and gaming sectors.

"Our investment is not just about capital; it's about fostering an ecosystem where startups like AuthPay can thrive, redefine industry norms, and contribute significantly to the evolution of fintech," Appalla Saikiran, Founder and CEO of SCOPE, said in a statement.

This collaboration aims to drive AuthPay's growth, enabling the startup to leverage cutting-edge technologies and transformative business models within the fintech sector, the company said.

"Collaborating with Saikiran and SCOPE has been an enriching experience, and we anticipate this partnership to continue strengthening as we progress further," said Mike Yoo, Co-founder, AuthPay.

With this partnership, the company said that AuthPay will gain more than just financial backing. The startup will benefit from mentorship, industry insights, and operational support from seasoned professionals within the SCOPE ecosystem.

By leveraging SCOPE's vast resources and networks, AuthPay is poised to achieve sustainable growth and success in the fintech sector, it added.

/IANS