Top 10 FinTech Startups of India

1. Paytm

Paytm is the leading digital wallet company in India with its headquarters in Noida, Uttar Pradesh. Paytm mobile wallet is their flagship product which is used by millions of Indian consumers. Paytm has 9000+ employees. Paytm also specializes in online shopping. Paytm is a private company.

Paytm has raised a total of USD 2.20 billion in four funding rounds.
Paytm has acquired a total of 11 companies including Nearbuy, .
Founder and CEO of Paytm – Vijay Shekhar Sharma
Founded in the year – 2010
Revenue (2021-22) –
Backed by Investors Like – Soft Bank, Alibaba founder – Jack Ma ,Etc.

2. Razorpay

Razorpay is a digital payments technology company helping businesses of all sizes in accepting and managing payments from their customers. It’s headquarters is situated in Bengaluru, Karnataka, India. It has 500+ employees . Razorpay is a private company. Previous Venture – Harshil Mathur and Shashank Kumar are the Co-founders of Mobikwik.

Razorpay has raised a total of USD 816.30 Million in four funding rounds. (Razorpay – Crunchbase Company Profile & Funding)
Razorpay has acquired a total of 6 companies including Ezetap.
Founder and CEO of Razorpay – Harshil Mathur
Founded in the year – 2014
Revenue (2021-22) – INR 500 Crores +
LinkedIn –
Backed by Investors Like – Salesforce Ventures,  Moore Strategic Ventures, Lightspeed Venture Partners, TCV, Lone Pine Capital, Alkeon Capital, Y Combinator, Tiger Global Management, GIC, Sequoia Capital India, Etc.

3. Pine Labs

Pine Labs is an Indian merchant platform company that provides financing and last-mile retail transaction technology. Founded in 1998, it now has more than 1,00,000 retailers across India, including major retail outlets such as Mark’s and Spencer’s Retail, Pantaloons, Shoppers Stop and Westside.

4. Bill Desk

Bill Desk is an online payment processing services company and its headquarters is located in Mumbai, Maharashtra, India. PayU is the parent company of Bill Desk. It has 350+ employees and is a private company.

Previous Experience – Karthik Ganapathy, Ajay Murthy, and M.N Srinivasu are Co-founders of Bill Desk. The three previously worked at American accounting firm Arthur Andersen LLP.

Bill Desk has raised a total of 241 million USD over 4 funding rounds.
Bill Desk has acquired a total of 6 companies including Ezetap.
Founder and CEO of Bill Desk M.N Srinivasu.
Founded in the year – 2000
Revenue (2020-21) – INR 2124.20 Crores
Backed by Investors – In August 2021, PayU acquired Bill Desk for $4.7 billion in an all-cash deal, making it the largest fintech acquisition in India

5. Groww

Groww is an investment platform that allows individuals to invest and trade in stocks, mutual funds, US stocks, and Gold. it also has fixed deposit options for conventional investors.
Groww has become the unicorn in the fintech industry by raising $83 million in a funding round led by Tiger Global.
The company has raised $140 million as capital so far.
Backed by a huge force of investors such as Sequoia Capital India, Ribbit Capital, Y Combinator, Kauffman Fellows, Propel Venture Partners, and Kairos, Groww plans to deploy its funding into introducing financial educational content for its 1.5 crore registered users.
Founders: Lalit Keshre, Harsh Jain
Founded in the year – 2016.

6. BharatPe

BharatPe launched the India’s first UPI enabled interoperable QR code. The startup is focused on the merchant payments primarily, offering a single interface for existing UPI apps and other payment systems. Last year, BharatPe launched a BNPL card platform called PostPe.

This fintech startup entered the unicorn club after raising $370 Mn in its Series E equity round at a valuation of $2.85 Bn in 2021. According to company filings, it has posted a loss of INR 1,619 Cr in FY21.
BharatPe has raised a total of 700.5 million USD in 12 funding rounds.
BharatPe has acquired Payback on Jun 10, 2021 for US $27M.
Founder and CEO of BharatPe Ashneer Grover and Shashvat Nakrani
Founded in the year – 2018
Revenue (2021-22) – Around INR 700 Crores.
LinkedIn –
Backed by InvestorsSequoia Capital India, BEENEXT, Insight Partners, Ribbit Capital, Steadview Capital, Coatue, Alteria Capital, InnoVen Capital, Trifecta Capital Advisors, Northern Arc, Tiger Global Management, MAS Financial Services Ltd.

However, in the start of 2022, BharatPe controversies started spreading from cofounder Ashneer Grover’s audio clip in January, the Sequoia-backed unicorn has seen rough waters over the last few months, which has seen Grover and his wife ousted from the startup, along with many other key executives leaving the company, including founding member Satyam Nathani.

7. PolicyBazaar

PolicyBazaar is online life insurance and general insurance aggregator. It has its headquarters in Gurgaon, Haryana, India. Bankbazaar has 2600+ employees and a revenue of $21 Mn (2017-18). It was founded in the year 2008. Policybazaar is a private company.
PolicyBazaar has raised a total of 346 million USD over 7 funding rounds.
Co-founders – Yashish Dahiya, Avanish Nirjar, and Alok Bansal
CEO of Bankbazaar – Yashish Dahiya.

8. Cred

Cred is a fintech startup founded by Kunal Shah, the founder of FreeCharge. The app aims to make the payment of credit card bills simpler and full of rewards for paying them on time. The app allows its users to check their credit score with Cibil, CRIF and Experian for free once a month.

9. Digit Insurance

Digit Insurance is an Indian start-up insurtech which focuses on selling of insurance policies online.

10. CoinSwitch

CoinSwitch Kuber is an Indian cryptocurrency exchange platform where users can buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, etc. at live market prices.

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