Disruption dynamo of the emerging fintech companies in India

The expansion of state-of-the-art software and technology aided in unlocking boundless prospects for all the world’s booming sectors. One area where these changes have been most noticeable is in the banking and payments business which brought about a cluster of emerging fintech companies in India. In this blog we have compiled our list of Indian startup companies which majority deem as a legendary enterprise.

Top 5 Fintech Compaiens In India

Paytm

Paytm founder, Vijay Shekhar Sharma introduced his famous digital payment and financial service firm in India in 2010. With time, Paytm has grown beyond its original mission of simplifying online money transactions for both individuals and companies. In the future, it will provide banking services, online shopping, and help with recharging mobile phones and DTH devices. Due to its simplicity and ease of use, this platform has become popular among Indians. Paytm has grown over the years to incorporate stockbroking, the National Pension System (NPS), Paytm First Games, Paytm Insurance, and a micro app store, all with the aim of servicing Indian app developers and entrepreneurs. Investment tech is predicted to increase at a rate of 30% between 2022 and 2030, making it one of the emerging fintech companies in India. Over the same time period, the financial software as a service business is anticipated to expand at a CAGR (Compound Annual Growth Rate) of 27%.

Recently due to some dispute between Paytm and RBI, some of the paytm services are banned.

BharatPe

For offline merchants and business owners, BharatPe is a payment app that uses QR codes. Bharatpe Founder, Shashvat Nakrani has setup its headquarters in New Delhi, the company has roughly five additional offices spread out over the nation. Small business owners and operators of kirana stores stand to gain a great deal from the app, which enables users to accept UPI payments at no cost using the BharatPe QR code. Various reports from July 2021 indicate that BharatPe processes monthly transactions totaling over INR 1,400 crore using its network of more than 1 lacs BharatSwipe devices spread throughout 16 cities across the nation. The loan vertical of BharatPe has grown in the past 1.5 years at an exponential rate. With an outstanding loan book of over $100 million, the firm has successfully disbursed over $300 million in unsecured loans to 2 lacs+ merchant partners.

Zerodha

Zerodha is one of the Fintech Startup Companies which deals in financial technology and services that provides retail stock brokerage services at discounted rates for a variety of assets, including bonds, mutual funds, currencies, and commodities. In order to entice investors to use their platform, the organisation operates on the principle of discount broking, which entails charging a reduced commission or low brokerage on the transactions. This is the key reason why Zerodha has an active client base of 6.3 million and makes Zerodha recognised among traders. Operating revenue for the Zerodha Founder, Nikhil Kamath and Nitin Kamath-led firm was 2,729 crore INR in FY21, and it nearly tripled to 4,964 crore INR in FY22. In FY23, Zerodha recorded a revenue of INR 6,875 crore, showing that this revenue also saw a good development.

MobiKwik

It was in 2009 when Mobikwik founder, Bipin Preet Singh and Upasana Taku established the enterprise which became the top dog among fintech startup companies. The digital wallet based comapny which is situated in Gurugram, boasts more than 200 billers, 3 million merchants, and 107 million users. It is possible to take out loans and perform bank transactions. Firms such as DMI Finance, Bajaj Finance and Aditya Birla are associated with the business. Approximately $213.94 million has been raised in fundraising by MobiKwik. On August 4, 2022, the firm secured $35 million in debt financing from Blacksoil Capital in preparation for its first public offering (IPO). After more than a year since MobiKwik submitted its DRHP to SEBI, this debt fund finally arrived. According to MobiKwik’s regulatory filing, the firm was able to raise this capital by issuing 700 non-convertible debentures (NCD) for INR 5,00,000. According to recent reports, MobiKwik is aiming to raise about $100 million.

Razorpay

In 2014, Razorpay founder, Shashank Kumar and Harshil Mathur introduced their enterprise. With Razorpay’s suite of products, businesses in India can accept, process and distribute payments online.  Through its efficient integration process and developer-friendly APIs, Razorpay facilitates online payments. The Bangalore-based financial services provider has a high growth rate of 40% – 45% month-on-month and processes total payments worth over $50 billion yearly. The $7.5 billion valuation makes the firm the most valuable privately-held financial technology firm in the world, and it ranks second among Indian fintech service providers, behind only One97 Communications Ltd. Since its valuation of slightly over $1 billion in 2021, Razorpay’s valuation has increased sevenfold which places it amongst the emerging fintech companies in India.