Top 10 Fintech Start-ups in India

Discover the Top 10 Fintech Start-ups in India revolutionizing the financial industry with innovative solutions in digital payments, lending, insurance, and more. Explore how these trailblazing companies are driving financial inclusion and transforming the way India manages money.

Volopay :

• Overview: Volopay, founded in 2019, is a rising star in India’s fintech landscape, offering a suite of financial services tailored for businesses. From expense management to corporate cards, it provides comprehensive solutions to streamline financial processes.
• Impact: Volopay’s impact lies in simplifying and automating financial tasks for businesses, saving them time and resources. By offering unlimited virtual corporate cards free of cost, it enhances convenience and flexibility in managing expenses.
• Innovation: Volopay stands out for its emphasis on user experience and cost-effectiveness. Its innovative approach includes seamless integration of various financial services into a single platform, making it a preferred choice for businesses seeking efficient financial management solutions.

Attribute	Description
Location	Singapore
Rank	Emerging Fintech Startup
Founder	Rajith Shaji, Rohit Bhageria
Stage	Early Stage
Investors	Tinder, Zhen Fund, Soma Capital

Paytm:

• Overview: Paytm, founded in 2010, is a trailblazer in India’s fintech industry, revolutionizing digital payments and financial services. It offers a wide range of services, including money transfer, bill payments, and investment opportunities, accessible through its user-friendly interface.
• Impact: Paytm’s widespread adoption has significantly contributed to the digitization of financial transactions in India. It has empowered millions of users, particularly in remote areas, by providing easy access to banking and payment services.
• Innovation: Paytm’s innovation lies in its ability to leverage technology to simplify financial transactions and expand its service offerings. Its pioneering efforts in digital payments have set the benchmark for other fintech startups in India.

Attribute	Description
Location	Noida, India
Rank	Top Fintech Company
Founder	Vijay Shekhar Sharma
Stage	Publicly Listed
Investors	SoftBank, Alibaba Group, Ant Financial

Razorpay :

• Overview: Razorpay, founded in 2014, caters to the payment needs of businesses and startups, offering a unified platform for managing debit cards, credit cards, UPIs, and mobile wallets.
• Impact: Razorpay has empowered businesses of all sizes to accept payments seamlessly, facilitating growth and expansion. Its user-friendly interface and robust security measures have earned the trust of thousands of merchants across India.
• Innovation: Razorpay’s innovation lies in its commitment to providing customizable payment solutions tailored to the unique needs of businesses. Its focus on enhancing payment experiences through advanced technology sets it apart in the competitive fintech landscape.

Attribute	Description
Location	Bangalore, India
Rank	Leading Fintech Startup
Founder	Harshil Mathur, Shashank Kumar
Stage	Growth Stage
Investors	Sequoia Capital, Tiger Global, Ribbit Capital

Bill Desk :

• Overview: Bill Desk, founded in 2000, has been a pioneer in online payment processing in India, facilitating secure and efficient transactions for individuals and businesses.
• Impact: Bill Desk’s impact extends beyond facilitating online payments, as it has played a pivotal role in shaping India’s digital economy. Its acquisition by PayU further strengthens its position in the fintech ecosystem.
• Innovation: Bill Desk’s innovation lies in its continuous adaptation to evolving technology and market trends. By integrating with other fintech platforms and expanding its service offerings, it remains at the forefront of digital payments in India.

Location	Mumbai, India
Rank	Leading Payment Gateway
Founder	M.N. Srinivasu, Ajay Kaushal, Karthik Ganapathy
Stage	Acquired (by PayU)
Investors	General Atlantic, Temasek, Visa

MoneyTap :

• Overview: MoneyTap, founded in 2015, is renowned for offering instant personal loans in India through a smartphone application.
• Impact: Its services have significantly eased access to credit for individuals, especially in emergencies, thereby enhancing financial inclusion.
• Innovation: MoneyTap’s innovation lies in its seamless and quick loan approval process, allowing users to obtain credit with just a tap on their mobile device, eliminating the hassle of traditional loan applications.

Location	Rank	Founder	Stage	Investors
India	N/A	Bala Parthasarathy	Established	Sequoia Capital India, Prime Venture Partners, and Global Founders Capital

Instamojo :

• Overview: Instamojo, established in 2012, specializes in providing payment solutions for MSMEs, startups, and independent businesses in India.
• Impact: It has empowered numerous businesses by facilitating easy and secure transactions, contributing to their growth and sustainability.
• Innovation: Instamojo’s innovation is reflected in its user-friendly payment platform, catering specifically to the needs of small businesses, thus fostering entrepreneurship and economic development.

Location	Rank	Founder	Stage	Investors
Bangalore, India	N/A	Sampad Swain, Akash Gehani, Aditya Sengupta, Harshad Sharma	Growth	AnyPay, Kalaari Capital, Gunosy Capital, Base, Blume Ventures, 500 Startups, and Bharat Inclusion Seed Fund

ZestMoney :

• Overview: ZestMoney, a fintech company founded in India, offers digital EMI solutions, revolutionizing the way consumers shop on EMI without credit cards.
• Impact: It has democratized access to credit, enabling individuals without credit cards or high credit scores to make purchases on flexible EMIs.
• Innovation: ZestMoney’s innovation lies in its alternative credit assessment methods and partnerships with leading retailers, expanding access to affordable credit and boosting consumer spending.

Location	Rank	Founder	Stage	Investors
Bangalore, India	N/A	Lizzie Chapman, Priya Sharma, and Ashish Anantharaman	Growth	Ribbit Capital, Xiaomi, Omidyar Network, Quona Capital, and Reinventure Group

Cred :

• Overview: Cred, established in 2018, operates as a members-only platform rewarding users for timely credit card bill payments.
• Impact: It has incentivized responsible financial behavior among credit card users, fostering a culture of timely payments and improving creditworthiness.
• Innovation: Cred’s innovative model of rewarding users with cred coins for bill payments, redeemable for exclusive offers, encourages financial discipline and enhances user engagement.

Location	Rank	Founder	Stage	Investors
India	N/A	Kunal Shah	Established	Sequoia Capital, Ribbit Capital, DST Global, Tiger Global, and Coatue Management

Zeta :

• Overview: Zeta, founded in 2015, is a cloud-based banking technology company offering BNPL, core banking, and card issuance solutions.
• Impact: Its innovative products have modernized banking operations, enhancing efficiency and customer experiences for financial institutions and businesses.
• Innovation: Zeta’s innovation lies in its comprehensive suite of cloud-based fintech solutions, catering to various banking needs and driving digital transformation in the financial sector.

Location	Rank	Founder	Stage	Investors
India	N/A	Bhavin Turakhiya and Ramki Gaddipati	Growth	Sodexo Ventures, Blackstone, Temasek, and Softbank Vision Fund

Pine Labs :

• Overview: Pine Labs, established in 1998, is a unicorn company valued at over $5 billion, providing cloud-based payment solutions.
• Impact: Its payment infrastructure has streamlined transactions for businesses and consumers, contributing to economic growth and financial inclusion.
• Innovation: Pine Labs’ innovation is evident in its diverse range of payment services, including unified payment interfaces and card access, offering convenience and security in digital transactions.

Location	Rank	Founder	Stage	Investors
India	N/A	Lokvir Kapoor	Growth	Mastercard, Actis, Temasek, PayPal, and Sequoia Capital

FAQ on Top 10 Fintech Startups in India

1. What is MoneyTap?

• Answer: MoneyTap is an app-based fintech startup in India that provides instant personal loans of up to Rs 5 lakh with flexible terms and reasonable interest rates. Founded in 2015 by Bala Parthasarathy, it offers personal credit lines to users with just a tap.

2. How does Instamojo help businesses?

• Answer: Instamojo provides MSMEs, independent businesses, and startups with satisfactory payment solutions. Founded in 2012 in Bangalore, it has served over 800,000 businesses across India and has over 10 million registered users.

3. What services does ZestMoney offer?

• Answer: ZestMoney offers digital EMIs, allowing customers to shop on EMI without needing a credit card or a good credit score. This Bangalore-based company operates under RBI guidelines and has partnerships with leading companies like Amazon and Flipkart.

4. What is Cred and how does it work?

• Answer: Cred is a members-only platform that rewards users for paying their credit card bills on time. Founded in 2018 by Kunal Shah, it offers cred coins for bill payments, which can be used to unlock exclusive offers and rewards from premium brands.

5. What are the key products of Zeta?

• Answer: Zeta, founded in 2015 by Bhavin Turakhiya and Ramki Gaddipati, provides cloud-based banking technology, BNPL (Buy Now Pay Later) solutions, core banking facilities, and easy issuance of credit and debit cards.

6. Why is Pine Labs significant in the fintech industry?

• Answer: Pine Labs, founded in 1998 and valued at over $5 billion, is a cloud-based solution offering unified payment interfaces, credit and debit card access, and other payment facilities. It has significantly contributed to the development of the global economy.

7. What makes Razorpay a top fintech startup in India?

• Answer: Razorpay is a comprehensive payment solution provider that allows businesses to accept, process, and disburse payments with its product suite, including payment gateway, payment links, invoices, and subscription management.

8. How does PolicyBazaar assist customers?

• Answer: PolicyBazaar is an online platform that helps customers compare and purchase insurance policies across various categories, including health, life, auto, and travel insurance, offering convenience and transparency.

9. What does Paytm offer beyond mobile payments?

• Answer: Paytm offers a range of financial services, including digital wallets, mobile recharges, bill payments, and ticket booking, along with Paytm Payments Bank, which provides banking services to its users.

10. What is unique about PhonePe?

• Answer: PhonePe is a UPI-based app that offers a range of financial services, including money transfers, bill payments, investments, and insurance. Its integration with UPI makes transactions fast, secure, and seamless for users.