India is currently one of the most active FinTech markets in the world. As a result, it has drawn the maximum investments in the sector, along with China. Two important missions led by the Government of India, one of Financial Inclusion and the other of a Digital India, are driving innovation. Thus, such initiatives have facilitated many start-ups to grow and become India’s top FinTech companies.
Although turning India into a completely cashless economy may be a challenge due to its large population and scattered geography, digital payments have grown quickly. This growth is attributed to the rapid increase in smartphone and e-commerce penetration. In a country where cash had traditionally been the primary mode of transactions, a digital world of financial services has found a place to flourish. So, here let’s discuss India’s top FinTech companies.
Consequently, earlier this year we shared our list of Top 11 FinTech Startups in India. We decided to include more companies on this list to introduce them to fintech stakeholders in Asia and elsewhere. Furthermore, Fintech Asia has spoken to several Indian companies in detail. They aim to understand more about the business, the team’s vision, and their perspective of the operating ecosystem as part of the Fintech India series.
Top 50 FinTech Companies in India
Top 18 Fintech Companies in India – Subcategory- Lending
| Company | Website | Funding | Subcategory | Founder/s / MDs |
| InCred | incred.com | 75 million | Lending | Bhupinder Singh |
| Lendingkart | https://www.lendingkart.com/ | 64.4 million | Lending | Harshvardhan Lunia; Mukul Sachan |
| Capital Float | www.capitalfloat.com | 45.8 million | Lending | Sashank Rishyasringa; Gaurav Hinduja |
| NeoGrowth Credit | https://www.neogrowth.in | 36.7 million | Lending | Dhruv Khaitan; Piyush Khaitan |
| Flexiloans | https://flexiloans.com/ | 15 million | Lending | Deepak Jain; Abhishek Kothari; Ritesh Jain; Manish Lunia |
| MoneyTap | https://www.moneytap.com/ | 12.3 million | Lending | Kunal Varma; Anuj Kacker; Bala Parthasarathy |
| CreditMantri | www.creditmantri.com | 10.21 million | Lending | Sudarshan R; Gowri Mukherjee; Ranjit Punja |
| Indifi Technologies | www.indifi.com/ | 10 million | Lending | Sundeep Sahi; Alok Mittal; Siddharth Mahanot |
| ZestMoney | zestmoney.in | 8.5 million | Lending | Elizabeth Chapman; Priya Sharma; Ashish Anantharaman |
| LoanTap | loantap.in | 7 million | Lending | Satyam Kumar; Vikas Kumar |
| Rubique | www.rubique.com | 6 million | Lending | Manavjeet Singh |
| Faircent | faircent.com | 5.75 million | Lending | Vinay Mathews; Rajat Gandhi; Nitin Gupta |
| Early Salary | earlysalary.com | 5.5 million | Lending | Akshay Mehrotra |
| IndiaLends | indialends.com | 5 million | Lending | Gaurav Chopra; Mayank Kachhwaha |
| RedCarpet | www.redcarpetup.com | 2.6 million | Lending | Sandeep Srinivasa; Kartik Venkataraman |
| Loan Frame Technologies | https://www.loanframe.com | 2.25 million | Lending | Shailesh Jacob |
| CreditVidya | creditvidya.com | 2 million | Lending | Abhishek Agarwal; Rajiv Raj |
| ePaylater | epaylater.in | 2 million | Lending | Aurko Bhattacharya; Uday Somayajula; Akshat Saxena; |
Top 17 Fintech Companies in India – Subcategory- Payments
| Company | Website | Funding | Subcategory | Founder/s / MDs |
| (Paytm Wallet; One97 Communications) | paytm.com | 2.77 billion | Payments | Vijay Shekhar Sharma |
| ItzCash Card | itzcash.com/ | 174 million | Payments | Naveen Surya |
| MobiKwik | mobikwik.com | 161.8 million | Payments | Bipin Preet Singh; Upasana Taku |
| Financial Software & Systems | www.fsstech.com/ | 99.5 million | Payments | Nagaraj V. Mylandla; J. Rudhraapathy (Full-time Director) |
| Ezetap Mobile Solutions | https://corp.ezetap.com/ | 66 million | Payments | Shripati Acharya; Sanjay Swamy; Abhijit Bose; |
| Fino Payments Bank (Fino PayTech) | http://www.finopaytech.com/ | 59.3 million | Payments | Rishi Gupta |
| Mswipe Technologies | www.mswipe.com | 56 million | Payments | Manish Patel |
| Electronic Payments and Services | electronicpay.in | 40 million | Payments | Mani Mamallan |
| CCAvenue | https://www.ccavenue.com/ | 31.3 million | Payments | Vishwas Patel |
| Razorpay Software | razorpay.com | 11.5 million | Payments | Shashank Kumar; Harshil Mathur |
| Chillr | chillr.com | 7 million | Payments | Sony Joy; Anoop Sankar; Mohamed Galib; Lishoy Bhaskaran |
| ChargeBee Technologies | https://www.chargebee.com/ | 6.2 million | Payments | KP Saravanan; Thiyagarajan T; Rajaraman Santhanam; |
| Juspay | https://juspay.in/ | 5.8 million | Payments | Vimal Kumar; Ramanathan RV |
| AirPay Payment Services | airpay.co.in | 3.6 million | Payments | Kunal Jhunjhunwala; Amit Kapoor; Rohan Deshpande |
| Instamojo | instamojo.com | 3.1 million | Payments | Sampad Swain; Akash Gehani; Harshad Sharma |
| Paynear | paynear.in | 2.5 million | Payments | Anil Bharadwaj; Priti Shah |
| TruPay | http://trupay.in/ | 2.3 million | Payments | Rahul Gochhwal; Narender Kumar |
Top 12 Fintech Company in India – Subcategory- Personal Finance Management
| Company | Website | Funding | Subcategory | Founder/s / MDs |
| BankBazaar | bankbazaar.com | 79 million | Personal Finance Management | Adhil Shetty (CEO); Arjun Shetty (COO); |
| ClearTax | cleartax.in | 15.42 million | Personal Finance Management | Archit Gupta; Srivatsan Chari; Ankit Solanki |
| FundsIndia | www.fundsindia.com | 15.24 million | Personal Finance Management | CR Chandrasekar; Srikanth Meenakshi |
| MoneyView | http://www.moneyview.in | 10.1 million | Personal Finance Management | Sanjay Aggarwal |
| Scripbox.Com India | www.scripbox.com | 2.5 million (disclosed) | Personal Finance Management | Sanjiv Singhal; Ashok Kumar E R |
| Fisdom | www.fisdom.com | 1.6 million | Personal Finance Management | Anand Dalmia |
| BankBazaar | bankbazaar.com | 79 million | Personal Finance Management | Adhil Shetty (CEO); Arjun Shetty (COO); |
| ClearTax | cleartax.in | 15.42 million | Personal Finance Management | Archit Gupta; Srivatsan Chari; Ankit Solanki |
| FundsIndia | www.fundsindia.com | 15.24 million | Personal Finance Management | CR Chandrasekar; Srikanth Meenakshi |
| MoneyView | http://www.moneyview.in | 10.1 million | Personal Finance Management | Sanjay Aggarwal |
| Scripbox.Com India | www.scripbox.com | 2.5 million (disclosed) | Personal Finance Management | Sanjiv Singhal; Ashok Kumar E R |
| Fisdom | www.fisdom.com | 1.6 million | Personal Finance Management | Anand Dalmia |
India’s top FinTech companies – Subcategory- Insurance, Cryptocurrency, Online Trading Platform & AI
| Company | Website | Funding | Subcategory | Founder/s / MDs |
| Active.ai | active.ai | 3.5 million | AI | Shankar Narayanan; Parikshit Paspulati; Ravi Shankar |
| Active.ai | active.ai | 3.5 million | AI | Shankar Narayanan; Parikshit Paspulati; Ravi Shankar |
| UnoCoin | Unocoin.com | 1.75 million | Cryptocurrency | Sathvik Vishwanath; Abhinand Kaseti; Sunny Ray; Harish B V |
| Zebpay | www.zebpay.com | 1.13 million | Cryptocurrency | Sandeep Goenka; Saurabh Agrawal; Mahin Gupta |
| UnoCoin | Unocoin.com | 1.75 million | Cryptocurrency | Sathvik Vishwanath; Abhinand Kaseti; Sunny Ray; Harish B V |
| Zebpay | www.zebpay.com | 1.13 million | Cryptocurrency | Sandeep Goenka; Saurabh Agrawal; Mahin Gupta |
| PolicyBazaar | www.policybazaar.com | 69.78 million | Insurance | Yashish Dahiya; Alok Bansal; Avaneesh Nirjar |
| SecureNow TechServices | https://securenow.in/ | 3 million | Insurance | Abhishek Bondia; Kapil Mehta |
| Easypolicy | easypolicy.com | 2.2 million (disclosed) | Insurance | Alok Bhatnagar; Neeraj Aggarwala; Divyanshu Tripathi |
| RenewBuy | www.renewbuy.com | 1.5 million | Insurance | Indraneel Chatterjee; Balachander Sekhar; Sandeep Nanda |
| PolicyBazaar | www.policybazaar.com | 69.78 million | Insurance | Yashish Dahiya; Alok Bansal; Avaneesh Nirjar |
| SecureNow TechServices | https://securenow.in/ | 3 million | Insurance | Abhishek Bondia; Kapil Mehta |
| Easypolicy | easypolicy.com | 2.2 million (disclosed) | Insurance | Alok Bhatnagar; Neeraj Aggarwala; Divyanshu Tripathi |
| RenewBuy | www.renewbuy.com | 1.5 million | Insurance | Indraneel Chatterjee; Balachander Sekhar; Sandeep Nanda |
| Upstox | upstox.com | 4 million | Online Trading Platform | Ravi Kumar; Raghu Kumar; Shrini Viswanath |
| Upstox | upstox.com | 4 million | Online Trading Platform | Ravi Kumar; Raghu Kumar; Shrini Viswanath |
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FAQs
1. What are fintech companies?
Fintech companies are companies that leverage technology to provide financial services, such as online banking, mobile payments, peer-to-peer lending, and robo-advisors. They aim to make financial services more efficient, accessible, and user-friendly.
2. How are fintech companies different from traditional banks?
Fintech companies often operate digitally and have a strong focus on innovation and customer experience. They are typically more agile and responsive to market trends compared to traditional banks. Fintech companies also tend to offer specialized services and products that cater to specific financial needs.
3. How are fintech companies different from traditional financial institutions?
Fintech companies differ from traditional financial institutions in that they typically operate solely online, have lower overhead costs, and are often more agile and customer-centric. They use technology to streamline processes, offer personalized services, and cater to the evolving needs of consumers in the digital age.
4. How many fintech companies are there in India?
Numerous fintech companies are operating in India, with the industry experiencing rapid growth in recent years. While the exact number may vary, some reports suggest that there are over 2,000 fintech companies in India across various sectors such as payments, lending, wealth management, and insurance. Some of the well-known fintech companies in India include Paytm, PhonePe, Razorpay, Policybazaar, Zerodha, CRED, Pine Labs, and Lendingkart, among others.
5. What skills are typically required for jobs in fintech companies?
Common skills required for jobs in fintech companies include proficiency in programming languages, data analysis, financial modeling, regulatory compliance knowledge, and strong communication skills.
