LIST OF TOP FINTECH STARTUPS IN INDIA.

India is a country with a large number of growing startups. We have startups across EdTech, FinTech, HealthTech, and many more industries. Since the last decade, many brands have revolutionized industries by adding tech to their operations. We all have used applications like Paytm, PhonePe, and other brands that come under the fintech category. They have changed our experience with financial activities. Over the years, we have seen top brands like Zerodha, Upstox, Groww, and many more who have helped get into the stock market. The credit has gone to a few brands because of which there are more investors buying stock. Fintech companies are helping people with financial literacy and persuading them to manage their wealth. Fintech brands have helped us begin our journey with investment and finances.

Lately, because of Web 3.0, we are now being welcomed to the new range of financial products called crypto-currency. Cryptocurrency is a digital currency that has been a new add-on as a financial product. Crypto has turned into headlines because of the features and growth potential for the investor. Cryptocurrency and NFT [Non-Fungible Transfers] are the most recent developments of blockchain technology. They are the most successful products of recent times.

What is FinTech in simple words?

FinTech is a mixture and a blend of two words Finance and Technology. It refers to software or technology used for automated and improved financial services. It involves innovative processes for the existing products to make it easy for the user. For example, we have online payments over scanning the QR. Interbank transfers can happen within a fraction of second. Technological advancements have made international financial transfers easy. The Fintech startups have been driving the economy of India and influenced our lifestyle in the way we make payments. The funding for these startups has crossed over USD 8 Billion, scaling the valuation to new heights. India has become a hub for more than 17 fintech unicorns grossing with a high financial value. The entire world's financial companies are setting up their offices in India. Silicon Valley startups are now heading to India and launching their blockchain offerings in the market. With stronger foundations with the modern trend and favorable regulations, India has become a leading opportunity for FinTechs.

The use of tech in any industry has made it prosper to any heights. We can witness the revolution in finance markets quite transparently.

Nearly 2000 Companies are operating with their financial products in the FinTech Industry. Let's have a closer look at some of the startup brands that are emerging in India within the FinTech area.

1. Slice

Slice is a leading startup founded by Mr. Rajan Bajaj that began its operations in 2016. The company is headquartered in Bangalore. It has a product such as a credit card powered by VISA. It helps in online and offline payments. The slice super card helps with loans and makes repayments in installments.

The company is one of the Unicorn startups in the FinTech background. Slice has overall raised an investment of $270 Million. The company value has crossed over more than $1 Billion.?

The company has an app on Android and iOS platforms for consumers. It has over 5 Million users who are actively using the application. The company has its projection to have 150 Million user acquisitions over the upcoming financial years.

2. Groww

Groww is a startup that began operations in the year 2016. The company was set up by Mr. Harsh Jain, Mr. Ishan Bansal Dean, Mr. Lalit Keshre, and Mr. Neeraj Singh. The company is headquartered in Bangalore. They have a platform that helps users invest in Stocks, Mutual Funds, Digital Gold, and FDs, and manage a savings portfolio.?A user can monitor the companies and decide to invest in their stocks. They can then select and start their stock investment journey. Groww is one of the genuine certified stockbroking companies in India.?

Groww is a company that has raised $393 Million since its inception. The company had a last round of funding done on 24th October 2021 with the Series E Round. The company has projected to raise more than $150 Million in the upcoming rounds.?

Groww is a company that has more than 1.5 Crore users in India. The users are in more than 900+ cities in India. It has customers from Tier 1, Tier 2, and Tier 3 cities of India. The application is available for free on Android and iOS app stores.

3. CoinSwitch

CoinSwitch is a startup that began operations in the year 2017. The company was started by Mr. Sharan Nair, Mr. Ashish Singhal, Mr. Govind Soni, and Mr. Vimal Sagar Tiwari. The company has its headquarters in Bangalore. CoinSwitch is an app-based trading platform to invest in Cryptocurrency. A user can buy, sell, and swap multiple cryptocurrencies through the trading platform.?

Users can start through their basic details of verification. A user can monitor multiple cryptos on the platform and make the desired investment. It is a platform that allows you to invest in popular cryptos like Bitcoin, Ethereum, Ripple, and many popular ones. A user has to go through a basic KYC/AML process before they can start with trading. The application is available for users on the iOS and Android platforms. It has gained popularity among young investors that help them create wealth.?

Since its inception, the company has raised its investments to a whopping $300 Million. They had a series C round of funding on 6th October 2021. The company is a Unicorn startup that is the fastest-growing brand. The company’s valuation is around $1.9 Billion as per the reports of the previous financial year. Experts forecast more user acquisition in the upcoming financial year.

4. BharatPe

BharatPe is a startup that began its operations in the year 2018. The company was set up by Mr. Ashneer Grover, Mr. Bhavik Koladiya, and Mr. Shashvat Nakrani. The company headquarters are in Delhi. BharatPe has truly revolutionized payment methods.?

Users can pay the merchants by a simple QR Code scan. The application allows merchants to collect payments from their customers in digital format. The feature also allows consumers to apply for a loan. The signup process is quite simple, similar to other financial apps. KYC and AML guidelines have to be followed by the users. The company was the first to bring a UPI that was an interoperable QR code. BharatPe is the first UPI payment-supported merchant cash service.?

Since the year 2019, the company has shown a 30x multiplied growth in the market. BharatPe has raised $142 Million until the present day. Since its inception, the company has raised over $700 Million as funding. The company also facilitated the disbursement of INR 500 Crore to the merchants since its launch. BharatPe has an estimated value of around $4 Billion.

5. Zolve

Zolve is a company that began its operations in 2020. The company was started by Mr. Raghunandan G and is headquartered in Bangalore. Zolve has created a financial product that removes obstacles with a financial perspective for the people traveling abroad.?

Zolve shall help you to create a bank account in the USA. It enables users to get a credit card even before stepping into the country. There are no application fees involved. It takes around 5 minutes of your time to complete an online process for the application. It helps the users to get a credit up to $10k. The application proves to be safer than carrying real cash.

Zolve has already caught the attention of young students who are traveling abroad for their studies. We have a bunch of professionals who keep traveling to the USA for professional work intermittently. Zolve is a brand people have begun to trust.

Since its inception, the company has raised around $55 Million. The brand is backed by 12 investors like Accel and Tiger Global Management. The company had raised its last funding in October 2021 from the Series A round.?

6. GetVantage

GetVantage is a company that began operations in 2019. The company is set up by Mr. Amit Srivastava, Mr. Bhavik Vasa, and Mr. Sachin Tagra. The company has a business model for financing eCommerce companies with a revenue-based finance model.?

GetVantage is a brand that has a tech to evaluate marketing levels, sales, and accounting data to offer capital to the founder based on current and forecasted revenue in a fraction of time. The company has accomplished data-driven investments from USD 25k to USD 250k. It has helped businesses scale up and function to their full potential.?

GetVantage has an ecosystem that assists business owners with growth solutions through capital, intelligence, efficiency, and support. The company until the present date has backed more than 60+ brands across multiple sectors. The company has boarded more than 700 brands. They are on track for funding over 250+ brands in the next 18 months.

GetVantage has forecasted its expansion into new markets like Southeast Asia and Singapore. In October 2020, the company raised USD 5 Million in a seed round led by Chiratae Ventures and Dream Incubators based in Japan.?

7. Jupiter

Jupiter is a fabulous application that was found in 2019. They are headquartered in Mumbai. The application allows you to undertake banking operations online. It is launched as a bank application in itself named as Jupiter Bank. The app allows you to have a savings account with a Zero-Balance account.?

The application was found by Mr. Jitendra Gupta and Mr. Vishnu Jerome. The company has raised around $155 million since they have launched. It is an emerging unicorn startup and is advertised by a Bollywood actor Mr. Rajkumar Rao.

8. Jar

Jar is an application with a very noble idea to cultivate the idea of savings to the young generation. The company is founded by Mr. Nischay AG and Mr. Misbah Ashraf. They are headquartered in Bangalore. The company was founded in 2021. Jar app has raised around $87 Million as funding.

The company helps with the Auto-Invest facility and round-off facility while helping with savings. It will detect your expenses and round off to the nearest selected value in 5 or 10. For example, if there is a UPI payment of INR 22 it will detect the nearest value. If selected 5, it takes INR 25 and the remaining INR 3 goes to the Jar app as savings. If selected 10, it takes as INR 30 and the remaining INR 8 goes to the Jar app as savings. These savings are nothing but the Digital Gold you accumulate. Eventually, if you happen to save an amount, you get free home delivery of the Gold Bars of the invested amount. The company is popularly advertised by Bollywood actor Mr. Nawazuddin Siddiqui.

9. CRED

CRED is an application that helps you with Credit Card Payments. It helps you with smart reward points if you pay your credit card bills on time. You can earn CRED coins and get exciting rewards. It is one of the top-ranked startups in India. It has raised a funding of about $1 Billion. The company was started by Mr. Kunal Shah. They are headquartered in Bengaluru.?

The company began their operations in the year 2018. The brand quickly got famous due to its reward structures. It helped banks get payments on time. The reward system, encouraged people to pay their credit card bills on time. The idea and the company got famous in a very short span of time. The startup is currently advertised by the celebrity Mr. Jim Sarabh.

10. SmallCase

SmallCase is a company that began its operations in the year 2015. The company is founded by Mr. Anuragh Shrivastava, Mr. Rohan Gupta, and Mr. Vasanth Kamath. SmallCase is a company headquartered in Bengaluru. The idea of the company is to democratize equity investment. It has a platform for people to go around with investment in Indian Equities.?

The company offers Stocks/ETFs that are intelligently weighted that helps people invest wisely.

SmallCase now gives people a chance to invest in fresh business ideas in smaller amounts. It collectively raises funding for startups as well as gives a chance of investment and good returns to the investors. The company has raised around $40 Million in the Series C Rounds of funding.

11. Zerodha

Zerodha was started by Mr. Nikhil Kamath and Mr. Nithin Kamath in 2010. The company is headquartered in Bengaluru. The company helps with brokerage-free equity investment. A user can invest in retail, currencies, commodities trading, and institutional broking.?

Zerodha is in Bengaluru with its presence in nine other cities of India. The company is valued at around $2 Billion until the present date. The company’s ideas have been very strong enough to have made it valued so strongly without any fund-raising.?

12. WazirX

WazirX is one of the most trusted apps when it comes to trading with bitcoin and cryptocurrency exchanges. They have a team that masters the entire trade with blockchain technology. WazirX helps you to buy, sell, and trade digital assets. Irrespective of whether you are an experienced trader or a fresher, WazirX has it all covered.

WazirX began operations in the year 2017 and is going strong in the market. The company had been in the headlines in previous years. But, it has emerged to be a leading brand name for Crypto trading.

These are companies that have been in the limelight due to their innovative business models. Brands like Fi and Niyo Global have changed the way of carrying out financial activities. FinTech companies are a boon for making finance activities simpler. It has promoted financial transparency that reduced the black money dealings. FinTech companies are a boon to the youth as they provide financial literacy. It also gives people a platform for an innovative setup with their financial products. For example, we have a term called Digital Gold that helps you invest in Gold in installments as low as INR 1. We have come across digital insurance being a product. Insurance with the help of tech can get generated within minutes of application.?

There are more startups with more ideas in the industry. A lot may be in the testing phase while you read this blog. The future has more exciting products than ever imagined. India is a favorable market for startups in the present times due to the best talent available and an environment full of ideas.?

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