Fintech, which is short for financial technology, has become a crucial part of the world. In the old days, all the financial work was done through the paperwork only, as it was considered as the safest mode. But with the development of technology, internet is emerging as the safer platform for financial transactions. Here's the list of the best fintech startups in India that we have in our country which are making the financial internet safe and easy to use.
Founded in Bangalore, Razorpay is focused on the payment needs of startups and enterprises. With Razorpay, merchants can easily accept, process and disburse money to and from their dealers. It was founded in 2014 by Harshil Mathur and Shashank Kumar and they have thousands of clients using their service. It allows an online business to accept, process and distribute digital payment through various segments modes like debit card, credit card, net banking, UPI and prepaid digital wallets.
Do you want to buy something offline on EMI, but don’t own a credit card? Zest Money offers an EMI option which you can use to purchase things online or offline from their partner merchants. It is another Bangalore based startup, founded by Lizzie Chapman, Ashish Anantharaman and Priya Sharma.
It is India’s first app-based credit line. Money Tap provides you credit and you can repay your credit amount in flexible EMIs of 2 to 36 months. Money Tap aims to make credit accessible to all the Indians who use internet banking. It uses a few details about customers to evaluate the user's eligibility and share the credit limit. Money Tap was launched in 2015 by Bala Parthasarathy, Kunal Verma, and Anuj Kacker .
Also read: Startup Story of Money Tap
Many students in our country have the potential to study hard and make their future but the fees of different institutions stop them to do so. To help those students, Shiksha Finance provide short-term loans to students for their fees. They also provide loans to private schools. The loan ranges from Rs. 10,000- Rs. 30,050 and must be paid between within 6-10 months, for Children's education. For a private school or college, the loan can range Rs 1 lakh - Rs 73.5 lakh and can be paid within 6 months to 5 years. It was founded by Jacob Abraham in 2014.
Rubique was first launched as BestDealFinance in 2014. It deals with financial products like all types of loans, health care insurance, etc. You can instantly apply for any of their products online, easily and hassle-free. Rubique was founded by Manav Jeet Singh in 2014.
Founded by Chandu Sohoni and Poorna Nayak, Amigobulls provide solutions to problems related to wealth management. You can get the daily stock analysis in the form of short and personalized videos. The personalized videos are created automatically using their technology which can create thousands of videos in a few minutes. It offers investment advice and news to stock market investors through a patent-pending video generation technology.
Founded by Ranjit Punja, Gowri Mukherjee and Rajasundaram Sudarshan in 2011, Credit Mantri is a credit facilitator which uses data and technology to help people make better financial decisions. It provides an Equifax credit score which is one of the four credit bureaus which are authorized in India by the RBI, as part of its credit score and analysis it for free. Anyone who needs credit can create a credit profile on the site to apply for the loans and credit card offers which are matched to them based on their credit profile.
Headquartered in Mumbai, MSwipe provides software solutions and payment devices to merchants. MSwipe works with all the bank accounts, so merchants don’t have to open a new account for their devices. The company has many popular clients and serves more than 25,000 merchants all across the country.
Active.ai provides chatbot solutions to all types of banks and other financial institutions. Although it is a Singapore based startup, it has a lab in Banglore and it was founded by 3 Indians in 2016. The main focus of the company is the banking sector particularly, maybe because all the founders were bankers. The founding members are Ravishankar, Shankar Narayan, and Parikshit Paspulati.
Finly lets other companies and startups to have a better look at their expenses. Besides expense management, they also ease the process of fund disbursement, Vendor payment, and collection automation. They build financial software products to save the companies’ money and time.
Most of the time, startups work hard on their product, marketing, and other business activity but forget about one crucial part of the business, finance. You have to learn about it to manage your finances. Business is all about money, you can’t run a business if you don’t think about money. Hire someone good, loyal and experienced to manage your finances. Or you can outsource all these headaches to other companies and then focus on your company only. You can try the services of the companies which are listed above for help in the financial aspect.