Top 10 Fintech Startups in India

Fintech is a portmanteau of the expressions “money” and “innovation” and alludes to any business that utilizes innovation to improve or automated monetary services and processes. The term incorporates a quickly developing industry that serves the interests of the two buyers and organizations in more ways than one. From portable banking and protection to digital currency and venture applications, fintech has an apparently unending exhibit of utilizations. The industry is immense — and will keep on extending for quite a long time to come.

According to CB Insights, there are 41- VC backed fintech unicorn worth a combined $154.1B. Here are the top 10 Fintech Indian Startups in India which are extending the boundaries.

  1. Paytm Payment Banks

Paytm was established by Vijay Shekhar Sharma and is possessed by One97 Communications and is authorized by RBI. Paytm has many partners such as Uber, BookMyShow, Foodpanda, MakeMyTrip and many more. Its investors include Softbank, Ant Financial, AGH Holdings, SAIF Partners, Berkshire Hathaway, T Rowe Price, and Discovery Capital.

The company partnered with Alibaba’s cloud computing arm – ‘AliCloud’ to expand its payment network at a global scale. They have investors like Berkshire Hathaway, SoftBank Group, and MediaTek and even raised an undisclosed amount from Ratan Tata in March 2015. It is arguably the biggest fintech company in India.


CRED is a fintech startup that offers rewards to customers who use its platform to pay their credit card bills. The startup is committed to safeguarding the data and information of its members. It functions on the guiding principle of opt-in consent and full transparency. CRED’s security processes and technology applications unified with regulatory compliance enables it to access, store, and utilise user data.

Founders: Kunal Shah, Founding Year: 2018, Headquarters: Bengaluru, Karnataka, Funding received: US$ 256.5M

Investors: General Catalyst, Tiger Global Management, Sequoia Capital India, Hillhouse Capital Group, Coatue, DST Global, Ribbit Capital, RTP Global, Dragoneer Investment Group, Greenoaks Capital and 16 other investors.

3. LendingKart

Lendingkart is an online financing company founded by Harshvardhan Lunia and Mukul Sachan in 2014. Lendingkart Finance offers working capital loans and company loans to small and medium-sized businesses throughout India. They provide capital fully online, a fast process with minimal documentation and no collateral necessary. The goal of the company is to make capital funding accessible at their fingertips so that entrepreneurs can concentrate on business instead of thinking about their cash-flow gaps. As of now, they are based in Ahmedabad, Bangalore, and Mumbai, but work across India.

4. Razorpay

Razorpay is a payment solution in India that helps companies with its suite of products to receive, process, and disburse payments. It gives you access to all payment modes, including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money, and PayZapp, including credit card, debit card, net banking, UPI, and common wallets. It was started by Harshil Mathur and Shashank Kumar in 2014. Businesses can handle the marketplace, simplify money transactions, receive regular fees, exchange client invoices, and take advantage of working capital loans from a single platform.

5. Pine Labs

Pine Labs is a fintech platform that provides financing and last-mile retail transaction technology to merchants. These solutions are aimed at helping merchants increase their revenue, reduce expenditure, complexity, and risk. The startup connects financial establishments and consumer brands to enable merchants to deliver value to their retail customers. Its cloud-based platform powers 3,50,000+ POS terminals spanning 3700 cities and towns in India and Malaysia. Over 1,00,000 merchants across the electronics, food and beverage, fashion, airlines, and other industries use Pine Labs’ solutions. The Pine Labs’ platform claims to be associated with over 15 major banks, 7 financial organizations, and 100+ brands.

6. Policy Bazaar

PolicyBazaar was founded in June 2008 in Gurugram by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar. is now India’s largest insurance aggregator and one of the world’s top fintech players. The online platform originated as a website for price comparison and a knowledge source to learn about insurance and related programs. It later grew to become an insurance policy marketplace. The revenue for the organization is created by the fees paid for the promotion and advertisements of insurance providers on its website.

7. Instamojo

In September 2012, Sampad Swain, Akash Gehani, and Aditya Sengupta co-founded Instamojo. Instamojo collects fees, creates free online stores, ships goods, get loans, and more to boost your business. Micro-entrepreneurs, start-ups, small and medium-sized businesses are using Instamojo to start, market, run and expand instantly, using our suite of services such as payments, free online stores, logistics, credit and finance, and more through mobile and web platforms. Instamojo allows personalized business tools to help a business expand on the Internet.

8. Groww

Groww is an investment platform that has invented a new way of investing money with stockbroking and direct mutual funds. Its platform provides insights about mutual funds, efficient investment planning, equity-linked savings, and everything from the personal finance world, simplifying the investing process for new investors. Users can also invest in gold and US stocks through the Groww platform. The startup was also a part of Y Combinator’s winter 2018 batch.

Founders: Harsh Jain, Ishan Bansal, Lalit Keshre, Neeraj Singh, Founding Year: 2017, Headquarters: Bengaluru, Karnataka, Funding received: US$ 59.2M

Investors: Y Combinator, Sequoia Capital India, Ribbit Capital, K50 Ventures, Insignia Ventures Partners, Propel Venture Partners, Friále, Y Combinator Continuity Fund, Cypher Capital, David Langer and 5 other investors.

9. Cashfree

 Cashfree is a payment and banking technology startup that enables Indian enterprises to collect payments online and make disbursements. It has so far helped 50K businesses with payment collections, vendor payouts, salary and instant loan disbursements. Its clients include renowned internet companies such as Cred, BigBasket, Zomato, HDFC Ergo, Ixigo, Acko, Zoomcar, and Delhivery among others.

Founders: Akash Sinha, Reeju Datta, Founding Year: 2015, Headquarters: Bengaluru, Karnataka, Funding received: US$ 40.9M. Investors: Y Combinator, Smilegate Investment, Apis Partners, Vellayan Subbiah, George Osborne.

10. OPEN

OPEN develops and provides an online space for banking and intercompany settlement. It offers digital banking services to startups and SMBs (small and medium businesses) that provide digital bank accounts which include a current account integrated with tools for bookkeeping, invoices, moving money, and accessing credit. Its API interface platform lets financial organizations merge banking and payments into their applications and accounting systems. 

Founders: Anish Achuthan, Founding Year: 2017, Headquarters: Bengaluru, Karnataka, Funding received: US$ 7.4M

Investors: Speedinvest, BEENEXT, AngelList, 3one4 Capital, Recruit Strategic Partners, Kishore Ganji, Unicorn India Ventures, Jitendra Gupta, Amrish Rau, BetterCapital AngelList syndicate, ISME ACE – FinTech Accelerator.

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