Financial technology (Fintech) has become an important part of the global economy, with all financial operations carried out through paperwork only, as the paper-based medium was considered the safest.
But in today’s time with the development of technology, the Internet has emerged as the preferred platform for financial transactions.
At the same time, it is essentially an economic industry made up of companies that use technology to make financial services more efficient.
India has the largest share of fintech startups through ‘payments’, followed by Wealth Tech, Fintech, Insurtech, and others. Here is the list of the top 50 fintech startups in India.
Top 50 Fintech Startups in India
Here is the List of the Top 50 Fintech Startups in India:
1. Paytm
Headquartered in Noida (UP), Paytm was founded in 2010 by Vijay Shekhar Sharma.
It is India’s leading financial services company specializing in digital payment systems, e-commerce, and finance. Paytm was initially designed to help merchants and customers send and receive money online. It quickly became popular and expanded to include wallet services, e-commerce features, and more to make people’s lives easier.
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2. Pine Labs
Noida-based Pine Labs was founded in 1998 by Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay, It is an Indian merchant platform company that provides financing and last-mile retail transaction technology.
The company focuses on the needs of merchants, revenue generation strategies, last-mile retail transaction technologies, data analysis, and the experiences of its buyers and customers.
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3. Razorpay
Founded in 2014 by Shashank Kumar and Harshil Mathur, Bangalore-based Razorpay offers payment solutions that allow businesses to accept, process, and make payments.
The fintech company provides access to all payment modes including credit cards, debit cards, net banking, UPI, and popular wallets.
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4. Groww
Founded in 2016 by Lalit Keshre, Harsh Jain, and Ishan Bansal, the Bangalore-based Groww is an investment platform where users can find the best mutual funds to invest their money without any hassle.
Users log in via the web or app to manage their finances with a view to savings.
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5. Policybazaar
Founded in 2008 by Yashish Dahiya, Policybazaar is India’s leading platform to analyze, compare and buy insurance based on price, quality, and other key features to bring transparency and accountability to the Indian insurance policy segment.
Policybazaar became a unicorn on June 26, 2018, making it the second Indian unicorn in 2018.
It offers life insurance, health insurance, motor insurance, travel insurance as well as various group plans.
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6. BharatPe
Delhi-based BharatPe was founded in April 2018 by Ashneer Grover, Bhavik Koladiya, and Shashvat Nakrani.
It is a QR code-based payment app for offline merchants and retailers. Its app, which allows users to accept UPI payments through BharatPe QR codes for free, is extremely beneficial for small merchants and Kirana stores and their owners.
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7. CRED
The Bengaluru-based Cred was founded in 2018 by Kunal Shah, It is a fintech platform that allows its users to make credit card payments through its app and avail of special offers and other benefits online.
The company allows users to pay house rent and provides short-term credit lines.
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8. CoinSwitch
Founded in 2017 by Ashish Singhal, Vimal Sagar Tiwari and Govind Soni, It is an Indian cryptocurrency exchange platform where users can place and call cryptocurrencies like Bitcoin, Ethereum Ripple etc. with the best rates. CoinSwitch offers over 300 coins and 45,000 currency pairs.
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9. Digit Insurance
The Bengaluru-based Digit Insurance was founded in 2016 by Kamesh Goyal, It is an Indian Insurtech start-up which is created to make insurance a simple and fast experience for customers.
The platform focuses on selling insurance online and through partnership channels but maintains a human presence through its product support team, which it claims is also available during national holidays.
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10. Zeta
Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, It helps banks and financial organizations to provide next-generation financial services to their customers by using advanced technology.
Its clients include major banks and fintech companies like RBL Bank, IDFC First Bank, and Kotak Mahindra Bank.
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11. Bajaj Markets
Bajaj Markets, is a financial marketplace offering from Bajaj Finserv Direct. Bajaj Finserv Direct is a subsidiary of Bajaj Finserv.
Bajaj Markets is one of the fastest-growing fintech companies in India. It was established in 2018. It offers a wide range of financial products like loans, credit cards, insurance, and investments, all in one digital marketplace. The fintech has teamed up with some of the most trusted brands in the BFSI industry to give their customers plenty of options to reach their financial goals.
Bajaj Markets is a marketplace that offers multiple financial products across all categories – Loans, Cards, Insurance, Investments, Payments, Pocket Insurance, and VAS. Bajaj Markets has partnered with trusted financial brands to offer “India ka Financial Supermarket”. A one-stop destination where its customers can explore a host of products that can help them achieve their financial life goals.
12. Acko
Founded in 2016 by Ruchi Deepak, Vishwanath Ramarao and Varun Dua, It is one of the leading digital insurance providers in India, whose entire operations are conducted through digital platforms.
Acko has various products and opportunities across key insurance pillars such as personalized insurance products based on the consumption behavior of the user.
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13. CoinDCX
The Mumbai-based CoinDCX was founded in 2017 by Neeraj Khandelwal and Sumit Gupta, It is India’s most secure cryptocurrency exchange, and its vast liquidity, powerful wallet and impenetrable security make the trading experience fast, reliable and seamless.
It also offers spot, margin, futures and fiat-to-crypto trades, making it an all-inclusive ecosystem for all types of traders.
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14. Upstox
Founded in 2010 by Ravi Kumar, Kavita Subramanian, and Srini Vishwanath, Upstox is a fintech company that provides financial services such as investing in stocks, mutual funds, derivatives, commodities, ETFs and digital gold.
Backed by industry stalwarts like Tiger Global and Ratan Tata, it ensures complete transparency in pricing by offering zero brokerage for equity trades and up to Rs 20 per order for intraday, commodity and currencies.
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15. Instamojo
Instamojo was founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta.
Started as a solution provider for digital payments, Bengaluru-based Instamojo has grown into a robust online payment gateway for enterprises like Micro, Small and Medium to start, manage and grow their business online .
The company primarily serves its merchants on a monthly basis and has shown an estimated growth of 25% on a month-to-month basis.
16. ETMoney
Gurugram-based ETMoney was founded in 2015 by Mukesh Kalra, It is a full-stack investment platform with a wide range of products in the fields of investments, credit cards and loans, insurance and financial instruments.
The fintech platform has also partnered with Google Pay for an easier way to invest in mutual funds and the National Pension System.
17. ZestMoney
The Bengaluru-based ZestMoney was founded in 2016 by Lizzie Chapman, Ashish Anantharaman, and Priya Sharma, It is an AI-powered EMI financing and Buy Now, Pay Later platform in India.
It has created a platform that integrates mobile technology, digital banking and artificial intelligence, allowing people to apply and get a digital credit line within seconds.
18. Refrens
Founded in 2019 by Naman Sarawagi and Mohit Jain, The Bengaluru-based Refrens is a fintech startup that provides payment gateway systems to freelancers so that they can easily send and receive payments, providing free invoicing, payment and expense management systems.
19. Lendingkart
Ahmedabad-based Lendingkart was founded in 2014 by Harshvardhan Lunia and Mukul Sachan, it is an online financing company that provides loans for working capital needs for SMEs.
It uses technology and analytics tools, analyzing thousands of data points from a variety of data sources, to rapidly and accurately assess the creditworthiness of small businesses.
20. MoneyTap
The Bengaluru-based MoneyTap was founded in 2015 by Bala Parthasarathy, Kunal Verma, and Anuj Kacker. This is India’s first app-based credit line.
Through its mobile app it offers instant personal loan up to Rs 5 lakh with full KYC process. It aims to provide quick and flexible personal loans to individuals easily and efficiently in partnership with banks.
21. Capital Float
The Bangalore-based Capital Float was founded in 2013 by Gaurav Hinduja and Sashank Rishyasringa.
It provides working capital loans and term loans to small businesses through technology-based loan origination and credit underwriting platform. It offers loans up to INR 1 Lakh-INR 1 Crore with tenors ranging between 1 to 12 months and the loans offered are based on cash flow, expected receivables, financials, CIBIL score, and bank statements.
22. Khatabook
The Bengaluru-based Khatabook was founded in October 2018 by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, Jaideep Poonia, and Ravish Naresh, It has become India’s leading business management app for MSMEs with over 50 million downloads in a remarkably short span of time.
Its mobile app service lets users share WhatsApp and SMS reminders when money is to be paid or collected. The startup enables micro, small and medium merchants to track business transactions safely and securely.
23. Shiksha Finance
Founded in 2014 by Jacob Abraham, Chennai-based Shiksha Finance is a RBI licensed Non-Bank Finance Company (NBFC), incorporated under the Companies Act 2013, which provides short-term loans to students for their fees.
The loan provided ranges from INR 10,000-INR 30,050 to be repaid within 6-10 months and for a private school or college, the loan can range from INR 1 Lakh-INR 73.5 Lakh and can be paid within 6 months to 5 years can be repaid.
24. KredX
The Bengaluru-based KredX was founded in 2015 by Anurag Jain and Manish Kumar, It is an online invoice discounting platform where business owners get an opportunity to raise funds for their working capital needs.
The objective of the company is to facilitate short-term working capital for a network of financiers to SMEs mobilized against blue-chip companies.
25. EnrichVideo
Founded in 2018 by Chandu Sohoni and Poorna Nayak, EnrichVideo is a fintech company that provides solutions to wealth management-related problems.
Users can get daily stock analysis in the form of short, personalized videos. It provides investment advice and news to stock market investors through a patent-pending video generation technology.
26. CreditMantri
Chennai-based CreditMantri was founded in 2012 by former bankers Ranjit Punja, Gowri Mukherjee, and R. Sudarshan.
It is a credit facilitator that uses data and technology to help people make better financial decisions. The fintech company provides an Equifax credit score which is one of the four credit bureaus authorized in India by the RBI.
27. Financial Software Systems (FSS)
Chennai-based Financial Software Systems Pvt Ltd. was founded in 1991 by Nagaraj Mylandla.
It is a global leading payment technology provider with issuance, acquisition, ATM, Reconciliation, security and real-time payment solutions. The fintech company’s products include card management, merchant management, mobile payments, financial inclusion, messaging middleware and value-added solutions and also provides software services that include systems integration, offshore development, project management and implementation, and 24/7 global Helpdesk support is included.
28. Mswipe
Mumbai-based Mswipe was founded in 2011 by Manish Patel. It is India’s leading mobile PoS (Point of Sale) machines and mobile payment solutions provider.
The startup equips merchants with mobile PoS machines so that they can accept payments through credit and debit cards or other payment methods such as UPI. These PoS machines accept payments from all major card companies including VISA, MasterCard, RuPay and others.
29. BankBazaar
Founded in 2008 by Adhil Shetty, Arjun Shetty and Rati Shetty, the Chennai-based BankBazaar is an online financial platform that gives customers instant customized quotes on loans, credit cards, mutual funds, and insurance products.
BankBazaar offers great deals by partnering with leading financial institutions and insurance firms in India.
30. Finly
The Bengaluru-based Finly was founded in 2015 by Vivek AG and Veekshith Rai, It is digitizing the accounts payable process with a scalable AP automation system.
Its products streamline invoice approvals, automate reminders, auto-update GL on accounting systems, and ensure audit compliance and governance with a system designed and built for financial teams.
The company’s product suite automates and streamlines finance operations including expense management, vendor payments, e-procurement systems, and budgeting and insights.
31. Active.Ai
Founded in 2016 by Ravishankar, Shankar Narayan, and Parikshit Paspulati, Active.Ai is a Singapore-based Fintech company, and it has also a lab in Bangalore.
It provides chatbot solutions to all types of banks and other financial institutions.
32. Ezetap
Founded in 2011 by Abhijit Bose, and Bhaktha Keshavachar, Ezetap is fintech company based in Bengaluru.
Launched in 2018, EzeSmart, which is based on Ezetap’s global payment acceptance platform, is the first POS terminal in the country that can accept all forms of payments including UPI, Bharat QR, and Aadhaar Pay.
It provides tailor-made payment solutions for various sectors such as small and large retail outlets, eCommerce and logistics companies, and government organizations.
33. Loanwalle
The New Delhi-based Loanwalle.Com was founded in 2015 by Sachin Mittal, it is a fintech Startup.
It deals with payday loans which are instant emergency loans that are disbursed within 30 minutes from the time of applying for it. It is short-term lending in which the startup offers high-interest loans to salaried customers with the understanding that they will pay the loan amount along with interest on the day they receive their salary.
34. Financepeer
Founded in 2017 by Rohit Gajbhiye, Naveesh Reddy, Sunit Gajbhiye and Debi Prasad Baral, It is a Google incubated School (K-12) Fee Financing Company.
It helps the school to pay the fees in one installment for the whole year and collect the fees in 3 to 12 monthly installments at 0 interest and 0 cost from the parents.
35. Money View
Bengaluru-based Money View was founded in 2014 by Puneet Agarwal and Sanjay Aggarwal.
It is a loan financier and also helps in planning the overall finances. It provides personal finance management to the user to keep track of daily finances and provides loans up to Rs 10,000-5,00,000 in a day or less.
36. Goal Teller
The Bengaluru-based Goal Teller was founded in 2020 by Vivek Banka.
It is a financial planning platform that lets users create financial plans. A result of state-of-the-art technology that guides users at every stage of their journey, the company simplifies the process of investment planning.
37. Cube Wealth
Founded in 2016 by Satyen Kothari, Cube Wealth provides comprehensive portfolio management solutions to help busy professionals to achieve their goals through investing.
Its app helps people invest in multiple asset classes including Equity, Mutual Funds, P2P Lending, Gold, and even Charitable Investments.
38. ePayLater
ePayLater was founded by Akshat Saxena, Aurko Bhattacharya, and Uday Somayajula in 2015. The Mumbai-based ePayLater is a fintech company that provides credit at the point of sale.
It provides a simple checkout experience to the customers by providing them the ability to conclude transactions with just the click of a button.
Through its Buy Now, Pay Later (BNPL) solution, customers can get access to an instant credit limit to make purchases faster, without paying at the same time.
39. PaisaDukan
Mumbai-based PaisaDukan was founded in 2017 by Rajiv M Ranjan, it is a Peer-to-Peer (P2P) lending platform.
It provides an opportunity to the investors (lenders) to deploy their investible surplus in the loan application applied for by the borrowers, whose creditworthiness and risk assessment are assessed by the company.
The company is leading the transition from requiring collateral through digitally sound and enabled processes through e-KYC, electronic credit appraisal, electronic bank statement analysis, payment gateways etc.
40. PayKun
Bhavnagar, Gujarat-based PayKun was founded in 2018 by Nikunj Yadav, Prashant Kambad, Vijay Yadav, Deepak Dabhi and Nirav Solanki.
The fintech company provides an easy solution for online payments for all types of businesses from small, and medium to large. It is an online payment gateway integrator that allows merchants to integrate any payment gateway of their choice.
41. Cashfree
The Bengaluru-based Cashfree was founded in 2015 by Akash Sinha, Reeju Datta, it is a fintech company that is backed by PayPal and YCombinator.
It helps global and Indian businesses to collect and disburse payments through 100+ payment methods including MasterCard, Visa, RuPay, UPI, NEFT, IMPS, Paytm and other wallets. It has integrations with major companies like Shopify, Amazon Pay, PayPal, Google Pay and Ola Money.
42. Recko
Founded in 2017 by Prashant Borde and Saurya Prakash Sinha, Mumbai-based Recko is a fintech company that provides support to enterprises, banks, and financial institutions that are finding it difficult to keep track of the money flowing throughout the organization due to the sudden explosion of digital transactions.
It is building products that enable them to handle and monitor such transactions.
43. Easy Home Finance
Mumbai-based Easy Home Finance was founded in 2017 by Rohit Chokhani, It is a housing finance company that offers home loans through the paperless route.
Its AI lending platform offers to include home loans, home construction/extension loans, loan against property and loans through Pradhan Mantri Awas Yojana.
44. Upwards
The Mumbai-based Upwards was founded in 2017 by alumni of IIT Delhi Abhishek Soni and Nimesh Verma.
It is a fintech company that provides personal loans up to Rs 2 lakh within 24 hours to salaried individuals with no credit history and a potential to earn at least Rs 15000 per month. The company has a wide range of personal loans that cover weddings, travel, studies, medical emergencies, and home renovation.
45. Finin
The Bangalore-based Finin was founded in 2019 by Suman Gandham and Sudheer Maram. It provides users with a savings account operated by SBM and issues a VISA debit card.
Its users have to depend on the SBM branch network for banking activities and physical branches which are currently operating in Mumbai, Chennai, Bengaluru and Hyderabad.
46. KreditBee
The Bangalore-based KreditBee was founded in 2018 by Madhusudan Ekambaram, Karthikeyan Krishnaswamy and Vivek Veda.
It is a full-stack digital lending platform for self-employed and salaried professionals, where they can apply for personal loans ranging from INR 1,000 to INR 2 Lakh as per their requirement.
It hosts a number of Non-Banking Financial Companies (NBFCs) that are licensed by the Reserve Bank of India and also provides loans to people with no credit history.
47. Sqrrl
Gurgaon-based Sqrrl was founded in 2017 by Samant Sikka, Sanjeev Sharma and Dhananjay Singh.
It is a wealth management platform that aims to help young Indians save their earnings while keeping things simple. The fintech company uses machine learning, AI and data science to encourage users to invest in high-performing mutual funds based on their risk appetite, goals and requirements.
48. ClearTax
The Bengaluru-based ClearTax was founded in 2011 by Ankit Solanki, Archit Gupta and Srivatsan Chari.
It is a fintech platform that provides solutions for Income Tax Filing, GST and Mutual Fund investments.
Recently it launched a GST-compliant billing and e-invoicing product called ClearOne, which is an easy, affordable and compliance-proof solution to all the challenges faced by SMEs.
49. RevFin
Headquartered in Delhi, Revfin was founded in 2018 by Sameer Agarwal, an alumnus of IIT Kharagpur.
It is a digital lending platform that provides loans through its own NBFCs.
The fintech company’s products include regular personal loans and Revloans, which is an unsecured credit limit that the customer can use at any time as per his convenience.
50. Avail Finance
The Gurugram-based Avail Finance was founded in 2017 by Ankush Agrawal and Tushar Mehndiratta.
It is a fintech company that focuses exclusively on the blue-collar workforce and aims to provide them with credit facilities and financial literacy as they know very little about it.
Avail Finance provides them with a neo banking platform and it covers every individual on credit hunt under the financial umbrella.
51. Kuants
Gurgaon-based Kuants was founded in 2017 by Ayush Gangwar & Mohit Bansal.
It is a fintech startup that enables retail traders to conduct algorithmic trading in the Indian stock markets in a cost-effective manner through its Algolab. The startup’s vision is to ensure that technology never acts as a hindrance for a stock trader to discover the domain of algorithmic trading.
Frequently Asked Questions (FAQs)
What is a Fintech Startup?
Startups that use technology to make financial services more efficient.
Which are the Top Fintech Startups in India in 2024?
Cred, Razorpay, Paytm, Instamojo, Kredx, MoneyView, Paykun, Lendingkart, PaisaDukan, and Mswipe, etc. are the Top Fintech Startups in India in 2024.
What are examples of Fintech?
Mobile banking, mobile payments, trading, cryptocurrency, insurance, trading, lending etc, are examples of fintech.
What are the payment aggregator startups in India?
Razorpay, GPay, PhonePe, Paytm, PineLabs, etc. are the common payment aggregator startups in India.
