The rapid technological advancement and higher demand for digital financial services drive the growth of India’s fintech industry. Many FinTech Companies in India are busy redefining how people manage their finances, payments, and access to financial services.
India is the second-largest fintech hub in the world. Being home to many innovative organizations it has completely refined the financial industry. What these companies offer includes a range of diverse services from digital payments to lending, insurance, and wealth management services. With this, let’s hop onto the Top 25 FinTech Companies in India.
Let’s get into the profiles of top fintech companies and discover the industry contribution.
Listing the Best 25 FinTech Companies in India 2024
1. Paytm (India’s Largest UPI Service Provider)
Paytm needs no introduction as it is India’s biggest mobile payments and commerce app. Besides, the platform also offers flight booking, ticketing, and investment services apart from bill payment and money transfer services. To help customers with finances, the company also partners with other financial institutions to offer microloans. Having more than 20,000 employees throughout India, the company is headquartered in Noida, Uttar Pradesh.
| Particulars | Details |
|---|---|
| Company Name | Paytm (Pay Through Mobile) |
| Founded | 2010 |
| Founder(s) | Vijay Shekhar Sharma |
| Headquarters | Noida, Uttar Pradesh |
| Industry | Financial technology, E-commerce |
| Valuation | $2.5 billion |
2. PhonePe (India’s Trusted Digital Payment Brand)
PhonePe offers a variety of services to its users, including paying their bills, investing, shopping, transferring money, and checking their credit scores all in one place. Headquartered in Bengaluru and owned by American retail giant Walmart, the company dominates transactions on the Unified Payments Interface. Moreover, after launching the app store, one of the best FinTech Companies in India has launched itself as a competitor to Google Playstore.
| Particulars | Details |
|---|---|
| Company Name | PhonePe |
| Founded | 2015 |
| Founder(s) | Sameer Nigam, Rahul Chari, and Burzin Engineer |
| Headquarters | Bengaluru, Karnataka |
| Industry | Fintech, Financial services, Payment gateway |
| Valuation | $12 billion |
3. Lendingkart Technologies Private Limited (Instant Business Loans for Small Enterprises)
Focusing on micro, small, and medium enterprise (MSME) finance, Lendingkart allows lenders to more efficiently assess borrowers’ creditworthiness and provide financial services. Since its founding in 2014, the company has disbursed more than $2 billion in loans to more than 4,000 Indian cities and towns. This Ahmedabad-based company is also present in Mumbai, Bangalore, and Gurgaon.
| Particulars | Details |
|---|---|
| Company Name | Lendingkart Technologies Private Limited |
| Founded | 2014 |
| Founder(s) | Harshvardhan Lunia |
| Headquarters | Ahmedabad, Gujarat |
| Industry | Financial, Technology |
| Valuation | $100 million |
4. Upstox (Making Investing Simple, Affordable & Fair)
An online trading app, Upstox allows users to invest in stocks, ETFs, IPOs, mutual funds, and more. According to one of the best FinTech Companies in India, it is certified with the market regulator Securities and Exchange Board of India (SEBI), and has exchange memberships with the country’s leading exchanges like BSE, NSE, and MCX. Primarily based in Mumbai, Upstox also operates an office in Bangalore and has a total workforce of approximately 2,000 employees.
| Particulars | Details |
|---|---|
| Company Name | Upstox |
| Founded | 2009 |
| Founder(s) | Ravi Kumar |
| Headquarters | Mumbai, Maharashtra |
| Industry | Financial, Technology |
| Valuation | $3.5 billion |
5. Policybazaar (Educating Insurers on Insurance Products)
Founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar – Policybazaar, an Indian insurance firm, is headquartered in Gurgaon. It is one of the biggest multinational financial technology companies in India, operating both a website and an app to enable customers to view and compare policies issued by leading insurance companies. Having expanded operations to the United Arab Emirates, the company is India’s largest insurance aggregator with the tagline – “Har Family Hogi Insured”.
| Particulars | Details |
|---|---|
| Company Name | Policybazaar |
| Founded | 2008 |
| Founder(s) | Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar |
| Headquarters | Gurgaon |
| Industry | Financial Technology, Insurance |
| Valuation | $5.9–6.2 billion |
6. Groww (Leading Online Investing Platform)
In 2016, four Flipkart workers, Lalit Kishore, Harsh Jain, Ishan Bansal, and Neeraj Singh, resigned from their positions to launch a business aimed at simplifying investing. Started in 2017, they named this venture Groww, which emerged as a beacon in India’s financial services landscape, making it easier to navigate through an array of investment solutions such as mutual funds, ETFs, US Stocks, IPOs, and Futures & Options.
| Particulars | Details |
|---|---|
| Company Name | Groww |
| Founded | 2016 |
| Founder(s) | Lalit Kishore, Ishan Bansal, Harsh Jain, and Neeraj Singh |
| Headquarters | Bengaluru, Karnataka |
| Industry | Financial, Technology |
| Valuation | $3 billion |
7. CRED (Making Credit Management Easy)
CRED is a Bangalore-based Indian FinTech company. It was introduced in 2018 by Kunal Shah and is an application providing a rewards-centered credit card payment feature. CRED allows its users to pay rent for their homes and provides short-term loan options. By 2021, it had gained 5.9 million users. One of the best FinTech Companies in India became the most popular among credit card users in India; it processed nearly 20 percent of all credit card bill payments in the country.
| Particulars | Details |
|---|---|
| Company Name | CRED |
| Founded | 2018 |
| Founder(s) | Kunal Shah |
| Headquarters | Bangalore |
| Industry | Financial Technology, Payments |
| Valuation | $6.4 billion |
8. Acko (India’s Leading Online Insurance Company)
Acko General Insurance, India’s leading insurance firm was established in November 2016. The company was then granted a license by the IRDAI in September 2017. Following an online-led model, all operations of the company are available through the digital platform. In October 2021, one of the best FinTech Companies in India locked its position as India’s 34th unicorn with a $255 million Series D funding round.
| Particulars | Details |
|---|---|
| Company Name | Acko |
| Founded | 2016 |
| Founder(s) | Varun Dua |
| Headquarters | Bengaluru, Karnataka |
| Industry | Financial Technology, Insurance |
| Valuation | $1.4 billion |
9. Zerodha (A Leading Stockbroker in India)
Zerodha Broking Ltd. is an Indian broking company providing financial services and a member of India’s National Stock Exchange, Bombay Stock Exchange, and Multi Commodity Exchange. It provides institutional and retail brokerage, currency and commodity trading, mutual funds, and bonds. This Bengaluru-based company was founded in 2010 with a significant presence across India.
| Particulars | Details |
|---|---|
| Company Name | Zerodha |
| Founded | 2010 |
| Founder(s) | Nithin and Nikhil Kamath |
| Headquarters | Bengaluru, Karnataka |
| Industry | Financial Technology, Trading |
| Valuation | $3.6 billion |
10. Pine Labs (Payment Products & Services Firm)
Pine Labs is an Indian company, a provider of point-of-sale systems and payment systems founded in 1998. It is reported that the valuation exceeds US $5 billion and producing Android-based PoS machines, with over 70,000 retailers in India, and retail stores, among Spencer’s Retail, Pantaloons, Shoppers Stop, and Westside. It also operates in other countries, mostly in Asia, including India, UAE, Singapore, and Malaysia. On 21 May 2024, the Singapore Court approved Pine Labs for the dissolution of its Singapore branch.
| Particulars | Details |
|---|---|
| Company Name | Pine Labs |
| Founded | 1998 |
| Founder(s) | Lokvir Kapoor, Rajul Garg |
| Headquarters | Noida, Uttar PradeshGurgaon, Haryana |
| Industry | Fintech |
| Valuation | $5.8 billion |
11. PayU (Digital Payment Solution)
PayU is a Dutch electronic payment service provider for Internet merchants. The company started in 2002 with headquarters in Hoofddorp. It has payment methods including web and mobile applications with which online businesses are processed. The company expanded its services to 17 countries in 2018. One of the best FinTech Companies in India is owned by the Naspers Group, which is partially owned by one of the sister companies, i.e. Tencent.
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| Particulars | Details |
|---|---|
| Company Name | PayU |
| Founded | 2002 |
| Founder(s) | Jose Velez, Arjan Bakker, Nitin Gupta, Grzegorz Brochocki, Martin Schrimpff, Shailaz Nag |
| Headquarters | Hoofddorp |
| Industry | FinTech |
| Valuation | $4.2 billion and $7 billion |
12. BharatPe (Making Digital Payments Accessible & Affordable for Small Merchants)
BharatPe was founded in 2018 by Bhavik Koladiya and Shashvat Nakrani, with the vision of providing financial and digital services to small merchants and grocery stores and making financial inclusion a reality for Indian merchants. In 2021, the firm obtained Payback India, a “multi-brand rewards initiative.”
| Particulars | Details |
|---|---|
| Company Name | BharatPe |
| Founded | 2018 |
| Founder(s) | Ashneer GroverShashvat NakraniBhavik Koladiya |
| Headquarters | New Delhi, India |
| Industry | InternetE-commerceFinancial Technology |
| Valuation | $2.85 billion |
13. Razorpay (Transforming Money Management for Online Businesses)
Razorpay is one of the best FinTech Companies in India. Launched by Shashank Kumar and Harshil Mathur from IIT Roorkee in the year 2014, Razorpay came out to streamline online payment services for small to medium enterprises in India mainly the e-commerce industry. Given that a significant portion of SMEs were not easily integrating payment gateway through digital transactions, Razorpay designed an easy online payment gateway with ease.
| Particulars | Details |
|---|---|
| Company Name | Razorpay |
| Founded | 2014 |
| Founder(s) | Shashank Kumar and Harshil Mathur |
| Headquarters | Bengaluru, Karnataka |
| Industry | Financial Technology |
| Valuation | $7.5 billion |
14. Mswipe (Bringing Affordable POS Systems)
Mswipe is one of India’s best fintech companies; this company caters to a very growing merchant community using its diversified financial solutions, coupled with the availability of numerous POS terminals. Right from compact palm-sized devices to advanced Smart POS options, QR Code systems, and the recent innovator, Boombox—all informing merchants with sound as well as display—Mswipe leads the line by introducing market-first technology. It serves 16,000+ pin codes in more than 800 cities.
| Particulars | Details |
|---|---|
| Company Name | Mswipe |
| Founded | 2011 |
| Founder(s) | Manish Patel |
| Headquarters | Mumbai, Maharashtra |
| Industry | Financial Technology |
| Valuation | $290 million |
15. Chargebee (Helping Business to Spike UP Revenues)
Chargebee powers subscriptions for businesses of all sizes around the world, providing various accounting, billing, and analytics services to help companies mine more revenue from their subscribers and manage finances better. The company has in the past also acquired multiple startups to add to the list of its products like Numberz now Chargebee Receivables, and RevLock (now Chargebee RevRec).
| Particulars | Details |
|---|---|
| Company Name | Chargebee |
| Founded | 2011 |
| Founder(s) | Krish Subramanian, Thiyagarajan Thiyagu, Rajaraman Santhanam, Saravanan KP |
| Headquarters | Chennai, Tamil Nadu |
| Industry | Financial Technology |
| Valuation | $3.5B |
16. PayPal (Simplifying Online Monetary Transactions)
Paypal Holdings, Inc. is an American multinational financial technology corporation operating an online payment service in most countries that supports online money transfer and serves an electronic variant of traditional paper modes including checks and money orders. The company acts as an electronic payment processor for most web vendors, auction sites, and other commercial customers giving a fee to the corporation to accept their electronic payments.
| Particulars | Details |
|---|---|
| Company Name | PayPal |
| Founded | 1998 |
| Founder(s) | Ken HoweryMax LevchinLuke NosekYu PanPeter ThielElon MuskHarris FrickerChristopher PayneEd Ho |
| Headquarters | San Jose, California, U.S. |
| Industry | Financial Technology |
| Valuation | $90,108 million |
17. Intuit (Best Credit Monitoring Service)
Bangalore, California-based Intuit employs nearly 2,000 people and has its principal India office there. Fintech company Intuit serves over 100 million customers around the globe, offering a suite of products that includes tax preparation assistant TurboTax, credit monitoring service Credit Karma, and accounting program QuickBooks. One of the best FinTech Companies in India also provides Software for small businesses and accountants to handle payrolls, taxes, and other digital payments.
| Particulars | Details |
|---|---|
| Company Name | Intuit |
| Founded | 1983 |
| Founder(s) | Scott D. Cook, Tom Proulx |
| Headquarters | Mountain View, California, United States |
| Industry | Financial Technology |
| Valuation | USD 180.95 Billion |
18. Reorg (Helping Legal & Financial Professionals)
Headquartered in New York, with offices across three continents, Reorg provides legal and financial professionals with crucial reporting and data analysis. The firm offers its subscribers professional insights on businesses, timely news, legal and regulatory updates, exclusive data, and additional essential information. With more than 30,000 professionals globally, such as investment bankers, capital market attorneys, and portfolio managers, the company operates an office in Pune.
| Particulars | Details |
|---|---|
| Company Name | Reorg |
| Founded | 2012 |
| Founder(s) | Kent Collier |
| Headquarters | New York |
| Industry | Financial Technology |
| Valuation | $400 million |
19. Aspire (Empowering Medium-Sized Businesses)
Aspire is a Singapore-based B2B fintech firm catering to over 15,000 small and medium-sized businesses throughout Southeast Asia and the Asia Pacific. According to its website, Aspire has everything from business multi-currency accounts to corporate credit cards, all designed to help companies get rid of the usual banking bottlenecks, stacks of hidden fees, and other paperwork required to run their businesses. Aspire currently has offices across India – Bangalore and Gurgaon.
| Particulars | Details |
|---|---|
| Company Name | Aspire |
| Founded | 2018 |
| Founder(s) | Gowri Shankar Subramanian, Shankar Krishnamoorthy, Bhoovarahan Thirumalai |
| Headquarters | Singapore |
| Industry | Financial Technology |
| Valuation | $15.1M |
20. SmartRecon (A Generic Transaction Reconciliation Company)
SmartRecon offers solutions for companies in payment reconciliation, bank reconciliation, tax reconciliation, and account reconciliation. It claims the company can automate most work with a manual effort decrease of about 80% in data collection, but it also gives detailed analytics reporting. Established in 2017 in Hyderabad, one of the best FinTech Companies in India, SmartRecon is partnering with hundreds of companies around the world in various industries from banking to telecommunications, manufacturing to hospitality.
| Particulars | Details |
|---|---|
| Company Name | SmartRecon |
| Founded | 2017 |
| Founder(s) | Ananta Panda |
| Headquarters | Hyderabad |
| Industry | Financial Technology |
| Valuation | NA |
21. Yubi (A Complete Corporate Debt Solution)
Formerly CredAvenue, Yubi runs a marketplace for lending to small and medium enterprises seeking quick-turnaround finance solutions and is considered one of the best FinTech Companies in India. So far, the Chennai-based firm has enabled more than ₹140,000 crore in credit, as per its website, which is driven by 80 percent of India’s top public and Private banks and more than 150 of the country’s largest non-banking financial institutions.
| Particulars | Details |
|---|---|
| Company Name | Yubi |
| Founded | 2020 |
| Founder(s) | Gaurav Kumar |
| Headquarters | Chennai, Tamil Nadu |
| Industry | Financial Technology |
| Valuation | $1.5 billion |
22. Stripe (Online Payment Solution for Global Merchants)
Stripe powers digital payment services for more than a thousand companies operating in diverse categories from e-commerce sites, or subscription-based businesses. Payments can be accepted in an in-person, online mode, or through a mobile app. It supports payments made via more than 135 currencies, enabling the business to be transacted anywhere in the globe. Besides its dual headquarters found both in San Francisco and in Dublin, Stripe has a huge Bangalore office.
| Particulars | Details |
|---|---|
| Company Name | Stripe |
| Founded | 2010 |
| Founder(s) | John and Patrick Collison |
| Headquarters | San Francisco and Dublin |
| Industry | Financial Technology |
| Valuation | $70 billion |
23. WISE (Innovation & Low Fees)
Wise, formerly known as TransferWise, allows users to send money internationally with real exchange rates and no fees. With a digital wallet, it is possible to hold over 50 currencies, send payments to over 160 countries, and make transactions using a branded debit card. Founded by co-founders of PayPal and Skype, one of the best FinTech Companies in India, WISE has headquarters in London with offices across the globe, including in Mumbai.
| Particulars | Details |
|---|---|
| Company Name | WISE |
| Founded | 2011 |
| Founder(s) | Taavet Hinrikus and Kristo Käärmann |
| Headquarters | London |
| Industry | Financial Technology |
| Valuation | $11 billion |
24. Perfios (Helping Financial Institution)
Perfios offers real-time credit underwriting services for banks and non-banking financial institutions, enabling them to automate loan decisions, assess customers’ financial worthiness, and aggregate data. It also uses AI and machine learning to learn on its own and predict new market trends. The company is based in Bangalore and operates over a dozen regions in India, the Middle East, and Southeast Asia, and plans to go public in 2025.
| Particulars | Details |
|---|---|
| Company Name | Perfios |
| Founded | 2008 |
| Founder(s) | V.R. Govindarajan and Debasish Chakraborty |
| Headquarters | Bangalore, Karnataka |
| Industry | Financial Technology |
| Valuation | $1 billion |
25. Northern Arc (Offering Finance Solutions to Underserved Households & Businesses)
Founded in Chennai in 2008, Northern Arc is headquartered across India with offices in Mumbai, Gurgaon, and Bangalore. The firm offers debt finance solutions to under-served households and businesses through products such as deposit-free finances, syndication and structuring, and fund management. It enables credit across a few areas that include microfinance, consumer finance, vehicle finance for commercial vehicles, two-wheelers, and electric vehicles, affordable housing finance, and agriculture finance.
| Particulars | Details |
|---|---|
| Company Name | Northern Arc |
| Founded | 2008 |
| Founder(s) | Ashish Mehrotra |
| Headquarters | Chennai, Tamil Nadu |
| Industry | Financial Technology |
| Valuation | ₹4,080 crore |
Also Read: List of Top-Rated Health Insurance Companies in India 2024
Bottom Line
By reading the whole thread, it is understood the FinTech industry in India is booming and how. The rapid increase and demand of FinTech Companies in India indicates its scope in the upcoming years. Truly, FinTech industries changed the way people manage their money, make payments, and access financial services. With this, we end this guide here hoping that readers get some insightful insight into the FinTech industry.
FAQs
1. What does a FinTech company do?
Ans. Fintechs, which stands for financial technology, are firms that utilize technology to perform essential functions of financial services, influencing how individuals save, store, invest, borrow, pay, move, and secure their money.
2. Is FinTech a good career?
Ans. The Fintech industry keeps expanding swiftly, providing many chances for career progression and the possibility of making a substantial difference.
3. Why is FinTech so successful?
Ans. Fintech prioritizes customer satisfaction through streamlining processes and removing complex terminologies. They emphasize favorable user experiences, advocating an effortless method of managing finances.
4. What is the rank of India in FinTech?
Ans. Reportedly, India has the third-highest registered FinTech globally.
5. How many FinTech companies operate in India?
Ans. The count of registered Fintech startups in India has increased nearly fivefold over the last three years, rising from 2,100 in 2021 to 10,200 in 2024.
