Top 10 Fintech Unicorns in India

As we know India is one of the emerging economies and growing day by day. if we talk about startup then it is the third largest country in the world that produce startup. But starting a startup is not only enough they also want to become a unicorn. Every Startup owner dreams of becoming a Unicorn and India is also the third country in the world that gives unicorns.

India has more than 100 Unicorns, and if we talk about the specific fintech sector then there is also numbers of startup in this sector. In this article, we will see some top fintech startups.

10 Most Popular Fintech Unicorns in India

Here is the list of the 10 Best Fintech Unicorns in India

1. Zeta

Zeta is a Bangalore-based fintech startup founded by Bhavin Turakhia and Ramki Gaddipati in 2015. The Platform offers its products to banks, fintechs, and enterprises globally. It helps its users by providing payment solutions from vendors, employee payment management, and more.Top 10 Fintech Unicorns in India

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It also offers Tachyon Suite for launching neo bank and facilitating loan processing for payment solutions. In 2021, the company raised $250 Mn in its Series C funding round and entered the unicorn club. Zeta was founded by Bhavin Turakhia and Ramki Gaddipati in 2015 and backed by multiple investors such as SoftBank Vision Fund and Sodexo.

2. slice

slice is a Bengaluru-based fintech startup that provides Credit cards for consumers. It is specially designed for youth where they can easily use credit through a Slice-VISA card, an app to manage expenses. Users can make bill payments, cash withdrawals, and online or offline purchases through credit cards.

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According to the company it has more than 5 million active users. In 2021, the company raised $220 Mn in a Series B funding round and became a unicorn. Slice was founded by Rajan Bajaj in 2016 and backed by Das Capital, Insight Partners, Pegasus Wings Group, Tiger Global, and others.

3. PhonePe

PhonePe is a Bengaluru-based fintech startup where users can send and receive money. Apart from this, they can also pay mobile and DTH bills, check account balances, mobile recharges, and more. They also offer some other options like mutual funds, tax-saving funds, liquid funds, international travel insurance, SIP, etc.

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As per a report in May 2022, 49.9% of transaction happened with phone pay which make it India’s biggest UPI-based payments app. Just after three years, in 2018 the company became a unicorn. PhonePe was founded by Burzin Engineer, Rahul Chari, and Sameer Nigam in 2015. It is backed by Walmart, General Atlantic, and Flipkart.

4. open

open is a Banglore-based neo-banking start-up that provides business banking, payments, and expense management services. It helps small businesses to manage cash flows, automate accounting, and get easy access to the credit line.

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In May 2022. open became the 100th unicorn in the country. Open was founded by Anish Achuthan, Ajeesh Achuthan, Mabel Chacko, and Deena Jacob in 2017. It is backed by Temasek, BEENEXT, 3one4 Capital, Trifecta Capital Advisors and others.

5. Groww

Banglore-based Groww is a trading and investment platform. With the help of Groww users can invest and trade in stocks, futures & options, mutual funds, ETFs, IPOs gold, and more. Apart from this it also provides technical charts where users can track and analyze the market.

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It has secured $83 Mn in a Series D funding round and entered the fintech unicorns. Groww was founded by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal in 2017. It is backed by Sequoia Capital, Y Combinator, Ribbit Capital, Kairos, and others.

6. CRED

CRED is a Banglore-based platform that offers Rewards for paying credit card bills on time. It helps card users pay their bills and earn cred coins. It also manages multiple credit cards in a single platform. In 2021 it has raised $215 Mn at a valuation of $2.2 Bn and become unicorn.

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CRED was founded by Kunal Shah in 2018 and it is backed by multiple investors such as Ribbit Capital, DST Global, Falcon Edge Capital, Rainmatter Technology, Sequoia Capital India, Gemini Investments, and more.

7. CoinSwitch Kuber

CoinSwitch Kuber is a Bengaluru-based crypto platform where users can trade, buy, sell, and store 100+ coins in the platform. The company helps simplify crypto transactions. There a zero fees for trading, deposit, and withdrawal in the first 100 days.

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In 2021, the company raised $260 Mn in a Series C funding round and entered in the unicorn club. CoinSwitch was founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017.  It is backed by Tiger Global Management, Coinbase Ventures, Ribbit Capital, and others.

8. BharatPe

BharatPe is a Delhi-based fintech startup that provides QR code-based payment solutions for consumers and businesses. The company mainly focuses on merchant payments. Users can use the app to pay the bill in multiple areas such as groceries, restaurants, cabs, salons, mobile businesses, and energy bills.

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In 2021, the company secured  $370 Mn in a Series E funding round at a valuation of $2.85 Bn and entered the unicorn club. BharatPe was founded by Ashneer Grover and Shashvat Nakrani in 2018. It is backed by Sequoia Capital, Ribbit Capital, BEENEXT, Insight Partners, and others.

9. CoinDCX

CoinDCX is a Mumbai-based fintech platform that provides cryptocurrency exchange. The Platform helps its users buy and sell cryptocurrencies. They offer multiple features such as crypto deposit and withdrawal solutions, investing and trading solutions, and others. In 2021, it secured $90 Mn in a funding round and became Unicorn.

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CoinDCX was founded by Sumit Gupta and Neeraj Khandelwal in 2018. It is backed by B Capital Group, Mehta Ventures, Jump Capital, Uncorrelated Ventures, Coinbase, Polychain Capital and others.

10. OneCard

OneCard is a Pune-based fintech startup that offers Credit cards for consumer payments. It offers multiple services such as credit limit, online or offline transactions, contactless payments, instant rewards redemption, and more.

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Their service is available in more than 12 cities. In July 2022, the company secured $100 Mn and became Unicorn. OneCard was founded by Anurag Sinha, Vaibhav Hathi, and Rupesh Kumar in 2018. It is backed by QED Fund, Sequoia Capital, Matrix Partners, Temasek, Ocean View Investment and others.

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Conclusion

The fintech startup in India is growing exponentially, several fintech startups are contributing to the digital transformation of India. These Startups provide multiple solutions to their users as well as businesses. The future of fintech startups is very secure.

This was our selection of the Top 10 Fintech Unicorns in India. We hope this is useful to you. The order of this list is random.

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