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With fall of traditional financial services like banking, Indian financial market has undergone a radical transformation that has been brought about by technology and innovation. In India, hundreds of start-ups sprouted in the Fintech space across the country. The Fintech industry in India expected to touch USD 2.4 billion by 2020 from the USD 1.2 billion in the Financial Year (FY) 2016.
In this article, we will talk about top 15 Fintech companies in India.
Top 15 FinTech Companies in India
#1 One97 Communications
Famously known for its e-wallet “Paytm” is India’s leading mobile-internet company. One97 also provides mobile advertising, marketing, and payments for merchants. One Communication is headquartered in Noida and backed by some of the biggest investors like SAIF Partners, Intel Capital, SAP Ventures and Silicon Valley Bank and has offices in India, Middle East, and Africa.
This Gurgaon based Fintech startup is founded by Husband-wife duo Bipin Preet Singh with his wife Upasana Taku. Mobikwik is an Indian digital wallet company founded in 2009. Mobikwik provides a mobile-based payment system and digital wallet. You can transfer money from your bank account to Mobikwik digital wallet and use that money for bill payments, mobile recharge, and online shopping.
#3 Capital Float
This Fintech company in Bangalore is a digital finance company serving businesses in India. Founded by Sashank Rishyasringa and Gaurav Hinduja, the startup provides flexible and transparent working capital finance to businesses looking to grow their customer base, purchase inventory, or manage cash flows. Borrowers can apply online in minutes, and receive funds within 3 days.
BankBaazar is an online marketplace for Bank Loans, credit cards, and insurance policies. Users can compare and choose through various services from different banks over the platform. The platform can be accessed through the website as well as the app. The company was incorporated in 2008 and headquartered at Chennai, Tamil Nadu.
Incred is web-based financial services based in Mumbai. InCred, started its operations in April 2016, through its technology platform provides personal, consumer, home, and education loans besides lending to small and medium enterprises, or SMEs. The company uses technology and data-science to make lending quick, simple and hassle-free.
PolicyBazar is India’s online insurance aggregator. The Fintech company was formed in 2008 and headquartered at Gurgaon Haryana. The company began operations in 2008 as a key force in establishing an informative online financial services platform in India. PolicyBazaar was founded by Yashish Dahiya and Alok Bansal.
#7 Fino Payments Bank
Founded in 2006 Fino Payments Bank provides technology solutions for institutions like banks, governments and insurance companies. The startup were among the chosen few to receive an in-principle approval from RBI to set up a Payments Bank.
CCAvenue is a popular payment gateway which provides multiple options to the user to pay. It empowers thousands of e-Merchants with real time, multi-currency, multiple payment options online payment processing services. CCAvenue provides complete Payment gateway solution that has the unique ability to offer the full spectrum of Internet payment options.
Bangalore based Fintech company Razorpay offers a product suite that manages the entire payments lifecycle for all businesses, from startups to SMEs to large enterprises. They enable online merchants with any payment need to easily accept, process and disburse payments through the most developer-friendly APIs, easy integration, onboarding processes and truly involved customer support.
Founded in 2012, Bangalore headquartered is India’s one of the fastest growing full-stack transactional platform that is leading the democratization of payments & e-commerce for MSME merchants. It’s flagship products are ‘payment links’ & ‘free online store’.
JusPay is an another Bangalore based Fintech company which enable the billion people in India with secure 1-Click payments on Mobile. Juspay browser is a first in the world innovation, growing exponentially and processing around 650k transactions per day.
CreditMantri is the fintech startup from Chennai which empower consumers to know their Credit potential and benefit from this knowledge. On the CreditMantri site, customers can access their Credit Scores, learn how they can improve their Credit health, resolve past issues, reduce current borrowing costs and in the process discover products best matched to their credit profile.
Chillr is a revolutionary app thats lets you send money directly between bank accounts using just the mobile number. Chillr works with leading banks including HDFC Bank, Bank of Baroda to make payments super simple, secure & instant. Chillr is a mobile payment subsidiary of MobME Wireless.
#14 Mswipe Technologies
Mswipe is India’s largest independent mobile POS merchant acquirer & network provider in India. Mswipe link SMEs to mainstream financial services & digital commerce. Mswipe’s solution integrates with the existing apps of customers & can post payment details directly into the backend systems of customers to eliminate the task of reconciling payments against orders.
Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows.