Fintech in India

Funding Trends

 FinTech investments in Asia increased to $5.4 billion in 2016, up 12.5% from $4.8
billion in 2015, driven mainly by China and India.
Relevant Stakeholders
Below are the key stakeholders that define the success of this industry:
Start-ups: The start-up in Fintech space is not just limited to mobile wallets. Presently in
India there are over 600 start-ups in Fintech that belong to various segments like banking,
lending, document management, insurance etc.
Universities and Research Institutions: Academic bodies play a significant role in shaping
the mindset of prospective entrepreneurs. IIT Roorkee organised the Global Entrepreneur
Conclave to enhance entrepreneurial skills and recognised those students who displayed
exemplary skills in technology-related fields.
Government and Regulators: The Government, along with RBI and SEBI, are extending all
the support to Fintech companies, to realise the country’s vision to become a cashless
economy.
Investors: Angle, VC’s, private equity houses are all looking fintech as viable investment.
Financial Institutions: Various BFSIs are collaborating with Fintech start-ups on a variety of
platforms such as wallets and online client acquisition, among others. They are proactively
mentoring, supporting, and investing in innovative start-ups. For example, Bank of India
offers a wallet in collaboration with Paynimo that is powered by TechProcess.
Fintech companies in India

Top Fintech companies in India

1. Paytm: paytm is the largest mobile commerce platform in India. It has more than 100
million wallet users and transactions carried out by these are more than 75 million
per month. Total funding raised till date is $890M
2. MobiKwik: it is a largest independent mobile payment network that connects about
25 million users with 50,000 retailers. Mobikwik has more than 17 million wallet
users. Total funding raised till date is $86.8M
3. BankBazaar: BankBazaar is the online marketplace for instant customised
rate quotes on loans and credit cards. Total funding raised till date is $80M
4. Policybazaar: Total funding raised till date is $69.6M
 5. ItzCash: Total funding raised till date is $50.6M

Fintech revolution in India