India’s financial technology (fintech) sector is booming, driven by a combination of innovative startups, a supportive regulatory environment, and increasing smartphone penetration. These startups are revolutionizing the way financial services are delivered, offering everything from digital payments and lending to insurance and wealth management. Here are ten of the top fintech startups in India making waves in the industry.
1. Paytm
Summary: Paytm, founded by Vijay Shekhar Sharma in 2010, began as a mobile recharge and bill payment platform. Over the years, it has evolved into a comprehensive digital payment and financial services ecosystem. Paytm offers a wide range of services including digital payments, money transfers, bill payments, online shopping, insurance, and investments. Its digital wallet, known as Paytm Wallet, allows users to store money securely and make cashless transactions across various platforms. Paytm has become one of the most widely used fintech platforms in India, catering to both consumers and merchants.
| ASPECT | DETAILS |
|---|---|
| Founder | Vijay Shekhar Sharma |
| Year Founded | 2010 |
| Key Services | Digital payments, financial services, e-commerce |
| Target Audience | Consumers, merchants |
| Unique Features | Comprehensive digital ecosystem |
Paytm– Top 10 Fintech Startups in India
Overview: Founded in 2010 by Vijay Shekhar Sharma, Paytm started as a mobile recharge and bill payment platform and has since expanded into a comprehensive digital wallet and payment ecosystem. It now offers services including e-commerce, insurance, and financial products.
Key Services:
Digital payments, Financial services, E-commerce
Also Read: Top 10 agriTech Startups in India
2. Razor pay
Summary: Razorpay, established in 2014 by Harshil Mathur and Shashank Kumar, is a leading online payment gateway provider in India. It offers a suite of payment solutions for businesses, including payment processing, subscription billing, and corporate cards. Razorpay’s platform is known for its simplicity, reliability, and scalability, making it a popular choice among startups, SMEs, and large enterprises alike. The company focuses on empowering businesses to accept digital payments easily and securely, thereby driving the growth of the digital economy in India.
| ATTRIBUTE | DETAILS |
|---|---|
| Founders | Harshil Mathur, Shashank Kumar |
| Year Founded | 2014 |
| Key Services | Payment gateway, subscription billing, corporate cards |
| Target Audience | Businesses |
| Unique Features | Comprehensive suite of payment solutions for businesses |
Razor pay- Top 10 Fintech Startups in India
Overview: Established in 2014 by Harshil Mathur and Shashank Kumar, Razorpay is a leading online payment gateway provider. It offers a suite of payment solutions for businesses, including payment processing, subscriptions, and a neobank for SMEs.
Key Services:
Payment gateway, Subscription billing, Corporate cards
Also Read: Top 10 CleanTech Startups in India
3. PhonePe
Summary: PhonePe, launched in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, is a digital wallet and payment platform that facilitates UPI transactions. Acquired by Flipkart in 2016, PhonePe has become one of India’s most popular digital payment apps. It allows users to link their bank accounts and make seamless transactions using their smartphones. PhonePe offers a wide range of services including money transfers, bill payments, recharges, and online shopping. With its user-friendly interface and innovative features, PhonePe has emerged as a leading player in India’s digital payments landscape.
| ATTRIBUTE | DETAILS |
|---|---|
| Founders | Sameer Nigam, Rahul Chari, Burzin Engineer |
| Year Founded | 2015 |
| Key Services | UPI payments, digital wallet, financial services |
| Target Audience | Consumers |
| Unique Features | Popular UPI-based payment platform, comprehensive financial services integration |
PhonePe– Top 10 Fintech Startups in India
Overview: Launched in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, PhonePe is a digital wallet and payment platform that facilitates UPI transactions. Acquired by Flipkart in 2016, it has become one of India’s most popular digital payment apps.
Key Services:
UPI payments, Digital wallet, Financial services
Also Read: Top 10 healthTech Startups in India
4. PolicyBazaar
Summary: PolicyBazaar, founded in 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, is India’s largest insurance aggregator and comparison portal. It simplifies the process of buying insurance by providing detailed information and comparisons of various insurance policies. PolicyBazaar offers a wide range of insurance products including life insurance, health insurance, motor insurance, and travel insurance. The platform allows users to compare premiums, coverage, and features of different policies and choose the one that best suits their needs. With its user-friendly interface and unbiased recommendations, PolicyBazaar has revolutionized the way Indians buy insurance.
| ASPECT | DETAILS |
|---|---|
| Founders | Yashish Dahiya, Alok Bansal, Avaneesh Nirjar |
| Year Founded | 2008 |
| Key Services | Insurance comparison, policy management, claim assistance |
| Target Audience | Consumers |
| Unique Features | Simplifies insurance purchasing and management |
PolicyBazaar– Top 10 Fintech Startups in India
Overview: Founded in 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, PolicyBazaar is an insurance aggregator and comparison portal. It simplifies the process of buying insurance by providing detailed information and comparisons of various insurance policies.
Key Services:
Insurance comparison, Policy management, Claim assistance
Also Read: Top 10 healthTech Startups in India
5. Cred
Summary: Cred, established in 2018 by Kunal Shah, is a platform that rewards users for paying their credit card bills on time. It offers exclusive rewards, deals, and financial insights to encourage responsible credit behavior. Cred’s app allows users to track their credit card spending, manage their bills, and earn rewards for timely payments. The platform partners with various merchants to offer discounts and cashback rewards to its users. Cred aims to promote financial literacy and discipline among credit card users while providing them with value-added benefits for their responsible behavior.
| ATTRIBUTE | DETAILS |
|---|---|
| Founders | Kunal Shah |
| Year Founded | 2018 |
| Key Services | Credit card bill payments, rewards, financial insights |
| Target Audience | Credit card users |
| Unique Features | Rewards for timely bill payments, financial behavior improvement |
Cred– Top 10 Fintech Startups in India
Overview: Established in 2018 by Kunal Shah, Cred is a platform that rewards users for paying their credit card bills on time. It offers exclusive rewards, deals, and financial insights, aiming to improve financial behavior and literacy among users.
Key Services:
Credit card bill payments, Rewards and offers, Financial insights
Also Read: Top 10 govTech Startups in India
6. Zerodha
Summary: Zerodha, founded in 2010 by Nithin Kamath and Nikhil Kamath, is a leading discount brokerage firm in India. It revolutionized the Indian brokerage industry with its low-cost trading model and innovative trading platforms. Zerodha offers stock trading, commodities trading, mutual funds, and bonds at discounted brokerage rates. The company’s flagship platform, Kite, is known for its simplicity, speed, and advanced charting features. Zerodha has gained popularity among traders and investors for its transparent pricing, superior technology, and excellent customer support.
| ASPECT | DETAILS |
|---|---|
| Founders | Nithin Kamath, Nikhil Kamath |
| Year Founded | 2010 |
| Key Services | Stock trading, mutual funds, educational resources |
| Target Audience | Investors |
| Unique Features | Low-cost trading with innovative platforms |
Zerodha– Top 10 Fintech Startups in India
Overview: Founded in 2010 by Nithin Kamath and Nikhil Kamath, Zerodha is a leading discount brokerage firm. It revolutionized the Indian brokerage industry with its low-cost trading model and innovative trading platforms.
Key Services:
Stock trading, Mutual funds, Educational resources
Also Read: Top 10 govTech Startups in India
7. Lendingkart
Summary: Lendingkart, established in 2014 by Harshvardhan Lunia and Mukul Sachan, is a fintech startup that provides working capital loans to small and medium-sized businesses. It uses technology and data analytics to assess the creditworthiness of borrowers and offers quick loan approvals and disbursements. Lendingkart’s platform streamlines the loan application process and enables SMEs to access funds without the need for collateral. The company aims to bridge the credit gap for small businesses and fuel their growth by providing hassle-free financing solutions.
| KEY DETAILS | DESCRIPTION |
|---|---|
| Founders | Harshvardhan Lunia, Mukul Sachan |
| Year Founded | 2014 |
| Services | SME loans, working capital finance, credit evaluation |
| Target Audience | Small and medium-sized businesses |
| Unique Features | Quick loan disbursement using big data |
Lendingkart– Top 10 Fintech Startups in India
Overview: Established in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart provides working capital loans to small and medium-sized businesses. It uses big data and machine learning to evaluate creditworthiness and disburse loans quickly.
Key Services:
SME loans, Working capital finance, Credit evaluation
Also Read: Top 10 finTech Startups in India
8. BharatPe
Summary: BharatPe, launched in 2018 by Ashneer Grover and Shashvat Nakrani, is a financial technology company that provides merchants with a range of financial services. It offers QR code-based payments, merchant loans, and point-of-sale systems to simplify transactions and financial management for merchants. BharatPe’s app allows merchants to accept digital payments from customers, manage their business transactions, and access working capital loans. The company focuses on empowering small merchants and kirana store owners with innovative fintech solutions to drive their business growth.
| KEY INFORMATION | DETAILS |
|---|---|
| Founders | Ashneer Grover, Shashvat Nakrani |
| Year Founded | 2018 |
| Key Services | QR code payments, merchant loans, point-of-sale systems |
| Target Audience | Merchants |
| Unique Features | Simplified merchant financial services |
BharatPe– Top 10 Fintech Startups in India
Overview: Launched in 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is a financial technology company that provides merchants with a range of financial services, including QR code-based payments, lending, and point-of-sale systems.
Key Services:
QR code payments, Merchant loans, Point-of-sale systems
Also Read: Top 10 insurTech Startups in India
9. Groww
Summary: Groww, founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, is an investment platform that aims to make investing simple and accessible for millennials and new investors. It offers a wide range of investment options including mutual funds, stocks, and digital gold. Groww’s app provides users with tools and resources to research, invest, and track their investments effortlessly. The platform’s user-friendly interface, low fees, and educational content have made it popular among young investors looking to build wealth over the long term.
| FEATURE | DESCRIPTION |
|---|---|
| Investment Options | Stocks, Mutual Funds, ETFs, Gold |
| Account Types | Individual, Joint, NRI, Corporate |
| Fees | Zero commission on mutual funds |
| Platforms | Web, iOS, Android |
| Features | SIP, Tax Saving, Goal-based investing |
Groww– Top 10 Fintech Startups in India
Overview: Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww is an investment platform that allows users to invest in stocks, mutual funds, and gold. It focuses on making investment simple and accessible for millennials.
Key Services:
Mutual fund investments, Stock trading, Digital gold
Also Read: Top 10 legalTech Startups in India
10. Pine Labs
Summary: Pine Labs, established in 1998 by Lokvir Kapoor, is a merchant platform that provides financing and last-mile retail transaction technology. It offers point-of-sale solutions, merchant financing, and loyalty programs to support retail transactions and enhance the customer experience. Pine Labs’ platform enables merchants to accept digital payments, manage inventory, and access working capital loans. The company focuses on driving digital transformation in the retail sector and empowering merchants with innovative fintech solutions to grow their businesses.
| CATEGORY | DETAILS |
|---|---|
| Name | Pine Labs |
| Headquarters | Noida, India |
| Industry | Financial Technology (FinTech) |
| Products | Payment Solutions, Point of Sale (POS) Systems |
| Founded | 1998 |
Pine Labs– Top 10 Fintech Startups in India
Overview: Established in 1998 by Lokvir Kapoor, Pine Labs is a merchant platform that provides financing and last-mile retail transaction technology. It offers point-of-sale solutions and merchant commerce services.
Key Services:
Point-of-sale solutions, Merchant financing, Loyalty programs
Frequently Asked Questions (FAQs) about Fintech startups in India
Q: What services does Paytm offer?
A: Paytm offers a wide range of services including mobile recharges, bill payments, digital wallet, online shopping, insurance, and various financial products.
Q: Is Paytm safe to use for transactions?
A: Yes, Paytm uses advanced security measures and encryption technologies to ensure the safety and security of user transactions.
Q: What is Razorpay?
A: Razorpay is an online payment gateway provider that facilitates payment processing for businesses, offering solutions like payment gateways, subscription billing, and corporate cards.
Q: Can individuals use Razorpay for personal transactions?
A: Razorpay is primarily designed for businesses to handle their payment processing needs. However, individuals who run small businesses or freelance can also use its services.
Q: How does PhonePe work?
A: PhonePe is a digital wallet and payment platform that allows users to link their bank accounts and make payments through UPI, as well as pay bills and shop online.
Q: Is PhonePe available on all mobile platforms?
A: Yes, PhonePe is available for both Android and iOS platforms.
Q: What can I do on PolicyBazaar?
A: On PolicyBazaar, you can compare various insurance policies, buy insurance, manage your policies, and get assistance with claims.
Q: Does PolicyBazaar charge for its services?
A: PolicyBazaar does not charge users for comparing insurance policies. The platform earns commissions from insurance companies.
Q: What is Cred?
A: Cred is a platform that rewards users for paying their credit card bills on time with exclusive rewards, offers, and financial insights.
Q: How can I join Cred?
A: You can join Cred by downloading the app and signing up with your credit card details. Membership is usually available to users with a good credit score.
Q: What services does Zerodha provide?
A: Zerodha offers stock trading, mutual fund investments, and educational resources through its discount brokerage platform.
Q: Why are Zerodha’s trading fees lower than traditional brokers?
A: Zerodha uses a discount brokerage model, which leverages technology to reduce operational costs, passing on the savings to users in the form of lower trading fees.
Q: Who can apply for a loan with Lendingkart?
A: Lendingkart provides loans to small and medium-sized businesses that need working capital, and the application process is open to SMEs across various sectors.
Q: How quickly can I get a loan from Lendingkart?
A: Lendingkart uses big data and machine learning to evaluate applications and can disburse loans within 72 hours if all criteria are met.
Q: What does BharatPe offer to merchants?
A: BharatPe offers QR code-based payments, merchant loans, and point-of-sale systems to simplify transactions and financial services for merchants.
Q: Can BharatPe be used for personal transactions?
A: BharatPe is designed specifically for merchants to manage their business transactions. For personal transactions, other consumer-focused platforms may be more suitable.
Q: What investment options are available on Groww?
A: Groww offers investment options including stocks, mutual funds, and digital gold, aimed at making investing simple and accessible.
Q: Is there a minimum investment amount required to use Groww?
A: No, Groww does not require a minimum investment amount, making it accessible to users with various investment capacities.
Q: What solutions does Pine Labs provide?
A: Pine Labs provides point-of-sale solutions, merchant financing, and loyalty programs to support retail transactions and merchant services.
Q2: How can I become a Pine Labs merchant?
A2: To become a Pine Labs merchant, you can contact their sales team through their website or customer service to set up an account and acquire the necessary hardware.
Conclusion
India’s fintech landscape is vibrant and rapidly evolving, with startups like Paytm, Razorpay, and PhonePe leading the charge. These companies are leveraging technology to make financial services more accessible, efficient, and inclusive, driving significant changes in how Indians transact, save, and invest. As the sector continues to grow, these startups are likely to play a crucial role in shaping the future of finance in India.
Also read:
Top 10 agriTech Startups in India
Top 10 CleanTech Startups in India
Top 10 healthTech Startups in India
Top 10 govTech Startups in India
Top 10 finTech Startups in India
Top 10 retailTech Startups in India
