In this modern era, due to technology everything is changed and banking is also one of them. Today, most people don’t want to go for the traditional way instant for they go with online banking which is also known as digital banking and Neo-banking.
It not only helps people by saving their time but also customers can do any banking service in a few seconds at their places. In this article, we will see some Top 10 Neo Banks Startups in India.
Here is the list of the Top 10 Neo Bank Startups in India
Headquartered in Mumbai Kotak811 is one of the leading neo-bank startups in India. It was founded in 2016 where they offer personal accounts with debit cards for individuals. The Platform Started When demonetization happened and things changed.
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To help the people of India they started this bank. Users can easily open a bank account through mobile without any paperwork. It was founded by Uday Bank with a mission of offering seamless banking services.
Jupiter is one of the leading digital banking apps, where they help in providing their requirements. With the help of this platform, users can easily start opening their accounts and they easily manage accounts with the help of automated savings pots. It provides real-time data on your expenses and helps in saving your money.
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They also give rewards on every transaction. It was founded by Jitendra Gupta and backed by multiple investors such as BEENEXT, 3one4 Capital, Matrix Partners India, Sequoia Capital India, and others.
Open is a Bengaluru-based neo-banking start-up that started with a mission to simplify business banking. Its business accounts provide VISA business cards which help in managing banking, payments management, accounting, and others. It is trusted by more than 20,00,000 Indian businesses.
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It was founded by Anish and Mabel Chacko in 2017 to help small businesses. It is backed by multiple investors such as 3one4 Capital, BEENEXT, Speedinvest, Amrish Rau, Unicorn India Ventures, and others.
RazorPay is a Bengaluru-based fintech company that offers payment solutions to help small businesses in payments. It started as a payment gateway and then expanded its services and managed every type of service related to payments for small, large, and medium businesses.
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It was founded by Harshil Mathur in 2014 and backend by multiple investors such as Tiger Global Management, Matrix Partners, Sequoia Capital India, Y Combinator, and others.
Finin is a Bengaluru-based consumer-focused AI-powered neobank startup that offers easy account opening and management facilities via a comprehensive app.
It is specially built for students, millennials, and white-collar jobholders among others. By the help of Artificial intelligence, helps users to improve their finances. in December 2021 it was acquired by Open.
Headquarters in Hyderabad ZikZuk is a new banking platform that started with the aim of fostering the growth of Indian SMEs. Their mission is to build a sustainable & scalable financial ecosystem around SMEs that help manage and grow their business.
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Apart from this they also help business owners to secure unsecured credit to meet their financial needs. it is founded by Tarun Bansal and Rahul Rasa.
OCareNeo is a Mumbai-based Neo banking platform founded by Dr. Neeraj Sheth and Swarup Choudhury in 2015. The Platform helps its customers by giving instant access to their health as well as their families along with financial information.
It offers a Digital Card and Digital Piggy Bank for medical expenses or savings for health.
Fi Money is a Bengaluru-based startup that is specially designed with a secure digital banking service for working professionals to help them save, invest, and grow their money. It was founded by GPay, Sujith Narayanan, and Sumit Gwalani.
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It is backed by multiple investors such as Sequoia Capital, B Capital Group, Ribbit Capital, and others.
InstantPay is a Delhi-based neo-banking platform, it is one of the largest neo-banking platforms founded by Shailendra Agarwal in 2012.
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The Platform offers full-stack digital banking services for businesses and individuals. It is invested by RB Investments Pte. Ltd.
Niyo is one of the leading neo-banking startups founded by Vinay Bagri and Virender Bisht in 2015. It offers multiple digital banking solutions like cross-border travel payment debit cards, prepaid payroll cards, and multi-wallet tax benefit cards to customers.
It is backed by multiple investors such as Tencent Holdings, HORIZON VENTURES, Tencent Holdings, and others.
Neo-banking is one of the most impactful startups in India it helps people by helping them save their money. It helps to change people’s behavior and how they invest their money. It offers quick banking service and saves people time. Overall the future of neo-banking startups is very bright.
This was our selection of the Top 10 Neo Bank Startups in India. We hope this is useful to you. The order of this list is random.
Frequently Asked Questions (FAQs)
What is Neo-banking?
Neo-banking is a modern-era bank that doesn’t have a physical branch.
Who was founded by Finin?
Suman Gandham and Sudheer Maram founded it.
Which are the Top 10 Neo Bank Startups in India?
InstantPay, Jupiter, Niyo, RazorpayX, Fi Money, OcareNeo, ZikZuk, Kotak 811 are the Top 10 Neo Bank Startups in India.