10 Best Indian Fintech Startups in India
UPI, BHIM, Payment wallet, digital bank, and many other services are available and we are using them every day on a big scale. Which reflect how finances and technology are playing a crucial role in our life. If we talk about India’s FinTech ecosystem, it has developed very effectively with great effort from financial institutions, venture capitalists, startup and government and regulators to generate a supportive atmosphere for fintech innovation.
Here are following Indian’s top 10 Hottest FinTech start-up companies let’s watch closely.
In 2008, PolicyBazaar was founded by Yashish Dahiya and Alok Bansal. Initially, the company was working as an information portal for learning about insurance. Today, the company has become India’s largest leading digital insurance aggregator brand and a wonderful marketplace. This platformer allows users to compare financial services from major industries. The group has expended the operation in UAE as well. In 2018, The PolicyBazaar was listed in the top 100 leading Global fintech innovators by H2 Ventures and KPMG. According to Fintech, almost 300,000 transactions get processed in a month.
Fintech company Lendingkart provides business and working capital loans to those entrepreneurs who are running medium or small size enterprises. In 2014, the company was started by Mukul Sachan and Harshvardhan Lunia. This fintech company has developed tools to analyze big data in an efficient way. According to fintech news, in Feb 2018, the company had raised 76 million US dollars. Now the company has estimated to expend the operation over 1,200 cities all over the country. This company was also listed 100 Global fintech innovators in 2018.
Created in 2015, PaySense is customer leading company that offers credit to the consumer in a customized manner. The company claims that consumers can take a loan immediately with affordable interest. PaySense EMI and their personalized line of credit to a personal loan, and personal loan are so similar, you can use this money to make any payment whether online or offline. The instant amount could be RS 5000 to RS 2 Lakh. According to your story, In January 2015, over 2.3 million dollars has been raised by the PaySense. In July 2018, the company raised 18 million dollars in series B funding round.
Started in 2009, MobiKwik is a digital payment platform that allows users to make payments through a mobile app. The company also has a digital wallet facility. In 2016, the company stared small loans facility to consumers as part of the service. Today, MobiKwik has strong growth and annualized gross revenue is around 425 Crore rupees. According to Yourstory, the company invested 2 Crore rupees in Pune based data science company Pivotchain Solutions.
The company was started in 2013 by Gaurav Hinduja and Sashank Rishyasringa. Today Capital Float has become India’s largest digital lender company that addresses the Indian’s enormous credit issues by easily giving digital credit. The company has covered more than 300 cities and disbursed loans over 8500 Cr to more than 500000 customers. Capital Float finance loan within 3 days. The company has achieved plenty of awards like the SIDBI MSE Award, CII industrial innovation award, and 5th Assocham SME excellence award. Which indicates that the company has a pretty good future.
In 2015, the ZestMoney platform was created by Priya Sharma, Lizzie Chapman, and Ashish Acantharean. This fintech company is intended to make lives easier over 300 million households in India. The money can get for those who currently have no credit card or any other financing choice due to inadequate credit history. With the help of this platform, you can purchase high-cost items on EMI. The platform is run by Camden Town Technologies. The company prefers AI and Machine learning Tech to make a profile of an E-commerce consumer. ZestMoney is backed by global investors such as MI, Ribbit Capital, Flourish, Naspers, Goldman Sachs, Quona capital, Oreniventure, and Omidyar network.
ClearTax is Bangalore based financial platform that has given solutions for paying GST, filing income tax, and investing money in Mutual fund. The company was started by 3 friends Archit Gupta, Srivatsan Chari, and Ankit Solanki. The company has added investors and mentors such as Neeraj Arora of WhatsApp, peter Thiel’s founders’ funds, sequoia capital, and many others. SAIF Partners has funded 12 million dollars for this platform. In 2018, Composite has funded 50 million dollars. ClearTax has become one of the biggest tax filling platforms all over the country.
InCred Finance is a Mumbai based non-banking financial platform that finances different kinds of loans such as home loans, two-wheeler vehicle loans, education-related loans, and SME lending. The platform has been created by Bhupinder Singh Who is the ex-employee of Deutsche Bank. The company has the main motto to enable the common people to borrow money without any second thought. The company analyses the data through data science to make lending fast and simple. According to fintech news, from 2016 to 2017, InCred Finance has given loans around 16 million dollars to over 1000 people.
BankBazaar is a financial platform that offers credit cards, personal loans, home loans, car loans, and used car loans. The company checks your civil score, then finance the loans. Most interesting, the company is operating service in foreign countries Singapore and Malaysia, also has a plan to expand the company in Australia. It seems like a kind of well-growing company. In October 2018, S S Mundra (The former deputy governor of reserve bank) was appointed as an advisor to this company.
The Razorpay is an online payment gateway that allows you to make payment securely while connecting your bank account. Razorpay also accepts different types of payment modes during an online transaction such as credit card, or UPI or other wallets to transfer your money. According to fintech news, a year ago, the company has launched three new finical products such as Razorpay X, Razorpay capital, and Razorpay Flash. The company claims that over 170,000 SMEs have served through this platform.