FinTech Landscape in India: Top companies to look out for
India’s Fintech sector attracted nearly $2.253 billion in investment in the first half of 2021. The industry witnessed a significant boost due to the COVID-19 norms of social distancing, digital account application, digital onboarding, and contactless payment. If you are discovering about Fintech Companies that are expected to make a stirring impact alongside global players this year, let’s take a look at them:
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Paytm was founded in August 2010 with an initial investment of US$2 million by its founder Vijay Shekhar Sharma in Noida, India. It started off as a prepaid mobile and DTH recharge platform and later added data card, postpaid mobile, and landline bill payments in 2013. It is a revolutionary name as a leading digital wallet company in India. As their website suggests: Paytm is India’s leading financial services company that offers full-stack payments & financial solutions to consumers, offline merchants, and online platforms. The company is on a mission to bring half a billion Indians into the mainstream economy through payments, commerce, banking, investments, and financial services. Its investors include Softbank, Ant Financial, AGH Holdings, SAIF Partners, Berkshire Hathaway, T Rowe Price, and Discovery Capital.
Bill Desk was founded in 2000 by Karthik Ganapathy, Ajay Murthy, and M.N Srinivasu and is known for grossing over revenue of $132 Mn per year.
Offering technology-based financial solutions, Pine Labs was the brainchild of Rajul Garg and Tarun Upadhaya and began in 1998.
PineLabs Website
As a popular name with countless online sellers, Mobikwik was founded in 2009 by Bipin Preet Singh and Upasana Taku.
Simplifying digital payments, Razorpay boasts of its expanse network of clientele and was founded by Harshil Mathur and Shashank Kumar in 2014.
From loans to mutual funds, Bankbazaar is a popular brand today and was founded by Adhil Shetty in 2008.
Going beyond as an online life insurance aggregator, founders Yashish Dahiya, Avanish Nirjar, and Alok Bansal saw their inception in 2008.
Founded in 2016 by Bhupinder Singh, Incred is a leading digital lending platform for small businesses and consumers.
Harshvardhan Lunia and Mukul Sachan founded Lendingkart in 2014 and is a well-known name in the field of working capital and business loans to SMBs.
One of the rising brands for online insurance aggregators and broking services, Coverfox was founded by Devendra Rane and Varun Dua and grosses over $2 Mn revenue annually.
Founders Sayali Karanjkar and Prashanth Ranganathan embark on this journey in 2015 and have fortified Paysense as a digital lending platform.
Sameer Nigam, Rahul Chari, and Burzin Engineer founded the brand in 2015 and have made it a household name for online money transfers and payments.
One of market leaders is indeed an accredited name that provides free equity investments and trading services, Zerodha was founded by Nithin Kamath and Nikhil Kamath in 2015.
Online Insurance service provider, Acko was founded by Varun Dua in 2017 is based out of Mumbai.
Lending instant cash for working professionals, EarlySalary was founded in 2015 by Akshay Mehrotra and Ashish Goyal.
The leading online payment gateway, Instamojo began in 2012 by Akash Gehani, Aditya Sengupta, Sampad Swain, and Harshad Sharma.
KrazyBee is a student credit platform and was founded by Karthikeyan Krishnaswamy, Madhusudan Ekambaram, Wan Hong in 2016.
Slicepay was founded by Deepak Malhotra and Rajan Bajaj in 2015 and provides payment cards with a pre-approved credit line.
ClearTax began with Archit Gupta, Ankit Solanki, and Srivatsan Chari founding it in 2010 and offered customers mutual fund investments and tax compliance.
Single-app payment, Simpl was founded by Nitya Sharma and Chaitra Chidanand in 2015.
We notice the digital payment is revealing of the new trend as Worldline India Digital Payments Report stated that UPI transactions jumped over 82% by volume and 99% by value in the second quarter of FY
Looking forward, we expect to see a massive expansion of Fintech Companies that are further expected to bring a rise in the revenue growth by 61.3% in 2022!
Also, it’s definite that we missed out on quite a lot of names in the FinTech space that should be on the list. Put them in the comments below and we’ll add them to our list.
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