2023 Wrapped - Fintech Edition

The past decade has witnessed a remarkable metamorphosis in India's financial service landscape. Fintechs, with their innovative approaches and tech-driven solutions, have made meaningful on-ground impact, capturing 3% of the large and growing financial services revenue pool.

Having witnessed the transformative power of fintech firsthand through our two-decade-long investment journey in this space, we are convinced that Indian fintechs stand at a critical juncture. The tailwinds underway convince us that fintechs are poised to play a pivotal role in propelling India's economic and social aspirations over the next decade.

Below, we share some of the reports and theses that we at Elevation's Fintech and Financial Services practice published in 2023. In these we have tried to share our point of view on where immense value can be unlocked, and what opportunities can audacious founders look to tap to create enduring companies in this space.

The Bottomline Series

The Bottomline series of reports capture our point of view on the future of fintech in India and the roadmap for the world’s third-largest fintech ecosystem.

“The Macro View”, our first report in the series, projects the fintech ecosystem to create $400bn in value by FY30 and identifies ten key themes that will unlock value over the coming decade.

Access the report here:

“Mapping a Billion”, our second report in the series, deep dives into four of those themes. India is a large country with 1bn+ addressable fintech users - these are heterogeneous users with nuanced needs and contexts. This report maps the unique context, identifies underserved areas, and outlines opportunities for fintechs to create value across different segments.

Access the report here:

Cents and Sensibilities: Fintech Optionalities For Consumer Tech

We strongly believe that every consumer tech company must have a fintech roadmap that can add meaningfully to both the profitability and engagement of their core consumer business. In this article, we have laid out thinking on the contexts where some of these fintech products can work best and how they can be operationalized.

Read the article here:

Fintech Infra: 10 Themes To Capture A $10B Revenue Opportunity

We believe the digitization enabled by modern fintech infra has a 10X growth and $10bn revenue potential by 2030. Large consumer distribution platforms, clarity in regulations, the success of large-scale public infrastructure, and the adoption of technology by financial institutions have together created the ingredients to supercharge large value creation. This article identifies ten themes in this space that will accrue value according to us.

Read the article here:

Fintech PM Mixer

We had the pleasure of hosting 100+ product managers from various fintech companies in a event where we discussed what it takes to build truly delightful product experiences in Fintech. We were joined by Brijesh Bharadwaj , Bhavik Kaul , Nitin Pulyani and Sripad Panyam , who shared their unique perspective and profound insights into building fintech products in India.

You can watch the video of the event here:

Investments Round Up

This year too, we had the opportunity to back truly audacious founders, looking to build category defining companies in spaces in Fintech that we are deeply excited about, and have covered in the aforementioned Bottomline reports.?

We were thrilled to partner Anil Goteti , and back his vision to make global travel accessible and delightful for millions of Indians through Scapia 's suite of financial products. The? consumer love that the company’s products and services have garnered in a very short time has been remarkable, and is a testament of the transformative power of fintech in making travel more accessible for Indians.

We were also thrilled to support Ram Naresh , Sandeep Arora and Sunil Mehta as they set out to expand credit access to semi-urban and rural Indians through Vridhi Finserv Home Finance Limited . Their mission to provide affordable housing finance to consumers that have traditionally been underserved by incumbents is a powerful one, that we are excited to back.?

We also partnered with Dale Vaz , someone who has deeply impressed us over the years with his mastery of business and tech. Through Sahi.com , Dale is looking to create a trading solution that gives investors and traders powerful tools without the complexity typical of these platforms, enabling millions to make informed decisions with more freedom than ever before.