India is a fast-growing Fintech market. 6,636 Indian FinTechs. Indian FinTech might reach $150 billion by 2025. Last decade, India had the most advanced digital payment landscape by volume and value. The number of fintech transactions is anticipated to rise by 20% from $66 billion in 2019 to $138 billion in 2023. These top Indian fintech companies are changing finance.
The Top 10 Fintech companies in India as of 2024– Paytm
Paytm is India’s biggest mobile payment and financial services company. Paytm was founded in 2000 by MD and CEO Vijay Shekhar Sharma. Paytm gives banking, financing, insurance, and payment services to customers and merchants. Online mobile recharges, utility bill payments, travel, movie, and event reservations.
Lendingkart
Lendingkart is a digital lending platform for SMEs. The business uses big data analytics and machine learning to assess client creditworthiness, identify dangers, detect fraud, and distribute loans within 72 hours. Lendingkart’s data scientists and engineers build key underwriting data models.
MoneyTap
MoneyTap provides fast personal loans of up to Rs 5 lakhs with mobile KYC. They collaborate with banks to deliver speedy and flexible personal loans. MoneyTap is the pioneering Indian startup that offers lifelong credit up to Rs. 5 lakhs. They provide paperless loans without requiring a visit to the bank. Interest is only charged on the borrowed amount. Through their app, they offer collateral-free loans for a duration of two to three years.
Instamojo
Instamojo, a comprehensive transactional platform, empowers small businesses by enabling them to establish an online presence. Recognized as India’s premier payment connection provider, Instamojo offers an effortless and seamless payment system that allows businesses to accept online payments. In addition to this, they provide a range of services and tools that facilitate the creation of online stores, provide valuable performance insights, and empower businesses to leverage that information for growth.
Razorpay
Razorpay, an Indian online payment solution platform, allows businesses to accept and distribute digital payments quickly, safely, simply, and affordably. It accepts credit and debit cards, net banking, UPI, and India’s top wallets, including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money, and PayZapp. Users can manage payments through online and mobile apps using the platform’s dashboard.
Shiksha Finance
Shiksha Finance provides loans to students and educational institutions for the creation of assets, working capital, and infrastructure. Study Loans and Asset Financing are its key offerings. To reduce school dropouts, it plans to create more branches in adjacent towns and villages. It finances education entrepreneurs that wish to promote excellent education for low and middle-income populations.
Pine Labs
Pine Labs created a retail gasoline loyalty and payment card. They’ve been adapting to merchant needs since 2012. A sophisticated, cloud-based, unified PoS platform followed. Pine Labs changed payments and fintech and built a global digital economy. Pine Labs has 100,000 Indian and Asian merchants. It powers 350,000 Indian PoS terminals.
ZestMoney
ZestMoney utilizes mobile technologies, digital banking, and artificial intelligence (AI) to simplify the process of obtaining loans. Credit history is not a prerequisite for borrowing from ZestMoney. The AI-powered decision engine of ZestMoney analyzes each borrower’s risk profile by incorporating machine-learning algorithms. By gathering further information, the Decision Engine of ZestMoney assesses the borrower’s reliability and provides them with the necessary funds.
PolicyBazaar
PolicyBazaar is India’s top insurance product aggregator. The startup began comparing insurance policy pricing and providing insurance information in 2008. The company grew rapidly and expanded into many areas. The insurance marketplace also assists with policy cancellation/renewal and claim resolution.
InCred
InCred is a non-bank financial institution (NBFC) that offers several types of loans to borrowers. Technology will be used to enhance analytics and risk management. Finance for Development Netherlands (FMO), Moore Capital, Elevar, and Alpha Capital are among its backers.
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