Integration of technology offered by financial services companies to improve their usage and delivery to the customers is known as fintech technology. Top fintech companies in India use fintech technology innovation. It aims at competing with the traditional financial methods in the delivery of financial services. Fintech technology is an emerging industry. To improve many activities related to finance fintech startups India uses this technology. Top fintech companies in India make financial services accessible to a larger audience of consumers. Apart from providing all the traditional financial services like savings and investments, it also provides revolutionary financial technologies like blockchain and cryptocurrency. Due to fintech’s abilities and power, the Indian banking sector has seen a substantial financial shift.
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Fintech Startups In India
Best fintech companies in India are growing vertically and horizontally while increasing access to existing technologies for the consumer. Consumers are given new tools to trade, invest, save and restructure their finances with the help of fintech technology in top fintech companies in India. India is achieving new financial heights and maturity with both forms of growth vertical and horizontal. That leads to the unlocking of a lot of economic development along the way.
In recent times, due to Pandemic, India has witnessed fast development when it comes to fintech businesses that use fintech technology. Fintech startups India garnered around $2 billion investment in the first half of the year. That means digital payments are leading the way. Examples of fintech segments are payments, lending, wealth management, blockchain, etc.
Fintech Revolution- Transforming Indian Banking
Top fintech companies in India have started a fintech revolution that has transformed the Indian banking system. India has become amongst the fastest-growing fintech markets in the world because it has seen a wide range of sub-segments and segments that includes
payments of funds, lending of funds, and wealth technology (WealthTech). Segments like personal financial management, insurance technology (InsurTech), and regulation technology (RegTech) are also included.
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New Delhi, Hyderabad, Gurugram, and Bengaluru are India’s top fintech destinations. While Mumbai and Bangalore, are the country’s two biggest hubs of the best fintech companies in India. With the increase in digital financial services, banking is rapidly transforming. Because of fintech technology, the banking sector is going paperless and cashless.
Offering services like loan application payments, stock trading, and credit scoring, the fintech segment has become one of the fastest-growing technologies in India. With almost 87% of fintech adoption rate globally, India has become the most important country in terms of investment. FinTech includes both financial technology and financial services that are all automated.
10 Top FinTech Companies In India 2023
| S.no | Fintech Companies | Established in |
| 1 | Lendingkart | 2014 |
| 2 | MoneyTap | 2015 |
| 3 | Razorpay | 2013 |
| 4 | Instamojo | 2012 |
| 5 | Paytm | 2010 |
| 6 | Groww | 2016 |
| 7 | Shikha Finance | 1982 |
| 8 | Policybazaar | 2008 |
| 9 | Epay later | 2015 |
| 10 | PineLabs | 1998 |
We are listing some of the top fintech companies in India that use fintech technology that is powering their back-end systems of the banking industry. Listed fintech companies in India use a deadly combination of “financial technology” with “technology”.
1. Lendingkart
This startup was founded in 2014 by Harshvardhan Lunia and Mukul Sachan. They provide capital for two medium-sized businesses and small businesses. To deal with cash flow gaps, Lendingkart Provides entrepreneurs with capital funds.
2. MoneyTap
This fintech startups India provides a credit line based on a mobile application. Any customer with a smartphone and a pan card can determine how much cash they qualify for in under 15 minutes by downloading an application.
3. Razorpay
It is one of the best fintech companies in India that helps other companies to receive, process, and disburse payments. One can use all the digital payment modes to make payments and transactions possible.
4. Instamojo
This company was founded in September 2012 that allows companies to customize business tools to expand online while collecting fees, creating free online stores, shipping products, getting loans, and more.
5. Paytm
It is one of the best fintech companies in India that uses fintech technology that transacts money through multiple instruments like UPI, Net Banking, Credit card, Debit card, and Paytm wallet for kinds of merchants.
6. Groww
It was founded in 2017. This company uses fintech technology that provides financial services like stock trading, digital gold, ETFs, intraday trading, IPOs, etc. It achieved Unicorn status in April 2021.
7. Shiksha Finance
This company is India’s leading education finance company and is the best of the listed fintech companies in India. School fees of students are funded to reduce school dropout rates. These funds can be used for building construction, property acquisition, and working capital of education institutions.
8. Policybazaar
It was founded in June 2008. It provides an online platform that helps customers find out more about desired insurance plans by offering a price comparison tool and an online knowledge base.
9. EPayLater
It is a digital payment solution that offers regular online purchasers a 14-day interest-free credit limit. It does not require any collateral or hidden fees. Including IRCTC, PVR, MakeMyTrip, Yatra, EaseMyTrip, Tata Croma, and Travelyaari, this company has partnered with many other companies too.
10. PineLabs
It was established in 1998 to provide services like multiple payment options, risk assessments, multi-channel analytics, leasing and insurance, brand offers, cashback, and automated billing for retailers.
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Increasing Use Of FinTech In India- Future In India
Due to COVID-19, India has increased its digital payment systems in the past two years. That has made financial services accessible to all kinds of consumers easily. With the growth in Internet access, smartphones and faster Internet Networks, the fintech startups in India using fintech technology have seen quite tremendous growth. The government of India has already implemented various technologies like digital payment gateway, secure payment gateways, and mobile wallets.
That has led to an increase in fintech technology using top fintech companies in India, making it a hotbed of fintech startups in India. It is expected that the Indian fintech sector will generate about 150 to 160 billion USD. Therefore, Fintech companies have become a $100 billion opportunity sector. The top fintech companies in India are strengthening their partnerships with traditional financial institutions such as banks, insurance companies, and retailers.
With the Government of India initiative of Make India Digital India; fintech companies have reached their goal in promoting a cashless and paperless society by increasing electronic payments. Listed fintech companies in India will increasingly cater to changing customer needs, accelerating the FinTech technology footprint in the country. Fin-Tech technology has enormous growth potential, where the best fintech companies in India are poised to be widely embraced by all.
FAQs on Fintech startups India
Q1. What is a fintech technology?
A1. Integration of technology Offered by financial services companies to improve their usage and delivery to the customers is known as fintech technology.
Q2. What do Top fintech companies in India do?
A2. Shrink tech companies in India provides accessibility of traditional ways of financial services and new-age financial services to the consumers.
Q3. What are the categories of fintech?
A3. Payments, clearing, and settlement, deposits, lending and capital raising, insurance, investment management, etc. are the categories of top fintech companies in India.
Q4. What does FinTech business mean?
A4. Providing automated and improved financial services including traditional financial services is the fintech business model.
Q5. Name a few top fintech companies in India.
A5. Lendingkart, MoneyTap, Razorpay, Instamojo are some of the top fintech companies in India.
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Hello there, my name is Phulutu, and I am the Head Content Developer at Nivesh Karlo. I have 13 years of experience working in fintech companies. I have worked at Policybazaar, Paytm Money, Investopedia, and others. I love writing about personal finance, investments, mutual funds, and stocks. All the articles I write are based on thorough research and analysis. However, it is highly recommended to note that neither Nivesh Karlo nor I recommend any investment without proper research and read all the documents carefully.
