20 Best Fintech Startups in India

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. Tech-focused startups and similar new market entrants are disrupting how the financial services industry conducts its operations.

India has world’s second biggest fintech hub with 2,565 startups operating currently, there were only 737 in 2014. India’s largest share from fintech startups is through ‘payments’ and is followed by lending, wealth tech, personal finance, insurtech, regtech and others.

Here's the list of the top fintech companies in India that we have in our country which are making the financial internet safe and easy to use.

Zest Money
Pine Labs
Money Tap
Financial Software Systems (FSS)
Shiksha Finance
Capital Float
Credit Mantri
Active Ai


Paytm | Payment Startups in india

Paytm was founded in 2010 and is India’s largest payment company that offers consumers multi-source and multi destination payment solutions. It allows consumers to make payments from any bank account to any other bank account at free of cost i.e. zero percent fee charges. Over 8 million merchants have availed its comprehensive payment solutions.

Paytm was founded by Vijay Shekhar Sharma and is owned by One97 Communications. It is licensed by RBI. The app allows its users to shop for both physical and digital goods, and also pay for DTH plans, bill payments and mobile recharges.

The company partnered with Alibaba’s cloud computing arm – ‘AliCloud’ to expand its payment network at a global scale. Paytm has investors like Berkshire Hathaway, SoftBank Group, MediaTek and even raised undisclosed funding from Ratan Tata in March 2015.

Following are the steps to use Paytm:
1.    Create a Paytm account using your mobile number and email ID
2.    You have 3 options, netbanking, debit card, or credit card to add money to Paytm Wallet
3.   You can transfer money to someone else by selecting the 'Pay or Send' option
4.   You can make payments to others or to bank accounts on Paytm by scanning a QR code
5.    You can also send money to another Paytm user via their phone number

Also Read : 10 Best Payment Gateways in India


PolicyBazaar | Fintech Startups in Gurgaon

PolicyBazaar is an online insurance aggregator for comparative analysis of products that are offered by various insurers like its price, quality and key benefits. It helps the users compare insurance policies and help and assist them in selecting the best one, or the most suited on that they can buy online.

It was founded by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in June 2008 in Gurugram. PolicyBazaar has raised over a $238 million as of 2018. The online platform began as a price-comparison website and an information portal for learning about insurance and related insurance programs, and then later it expanded to a marketplace for insurance policies.

PolicyBazaar has tied up with insurance brokers which help them procure information such as price, benefit, insurance cover etc directly from the insurers for the customer to compare. PolicyBazaar does not charge anything from its customer for their service. The revenue for the company comes from fixed fees for marketing and advertisement from the insurance companies.


Razorpay Logo | Bangalore based Fintech Startup

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.


MobiKwik | Indian Fintech Startup

MobiKwik is an Indian fintech company that was founded in 2009 by Bipin Preet Singh and Upasana Taku, and its headquarters is in Gurugram. MobiKwik is a digital wallet service providers that provides services like mobile and online payments, phone and DTH recharge, mobile transfers and shopping online. It allows users to store up to Rs 50,000 in wallet and recharge mobile, pay bills and shop across merchants in India across various channels like Apps, website, mobile website, SMS or even IVR. The users can also use the partial payment feature for ticket reservation and cash pick up for bus tickets booking.

Its investors list include Sequoia Capital, NET1, GMO Venture Partners and eight other investors too. Post demonetization, MobiKwik has made it free to transfer money from your wallet to the bank account. Before demonetization, MobiKwik used to charge 4 percent for a non-KYC compliant user and 1 percent fee for a KYC compliant user. Mobikwik has 25 million users across the country and many more in the adding. Non-KYC compliant users can transfer from Rs 1000 to Rs 20000 to bank account. But, after KYC, you can store Rs 1,00,000 in your MobiKwik wallet.

Zest Money

Zest Money Logo | Fintech Startups in Bangalore

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.


LendingKart | Lending Fintech Companies in india

LendingKart is online financing company. LendingKart was founded by Harshvardhan Lunia and Mukul Sachan in 2014. LendingKart provides loans for working capital needs for SMEs (Small and Medium sized Enterprises), which are quick and easy collateral free with minimal paperwork.

The company works across 462 cities and disbursed close to 6500 loans. They are targeting to disburse loan over Rs 1600 crores by the end of 2018. Aditya Birla Capital, Saama Capital, Mayfield Fund, Bertelsmann India Investments (BII) and Darrin Capital Management are some of its prominent funding partners. In the March of 2016, LendingKart entered into strategic partnership with Mahindra’s SmartShift – a digitally enabled aggregator for cargo owners and transporters.

LendingKart has access to huge amount of data from data partners dispersed across the country. These data partners provide Lendingkart with various kind of information about the vendor including his educational qualification, family background, reputation, competitiveness in the market etc.
How does Lendingkart work?
1. Lendingkart does marketing through referrals, print releases, news releases.
2. SMEs or Vendors visit the website to apply for the loan.
3. They need to provide full information and upload documents.  
4. The documents are verified. analytics team generates two codes through machine learning.
5. Based on that, decision whether to provide loan or not and if then by what amount is made.
The best part about the whole process is that it just takes 4 hour. Bank generally needs weeks and months for the same process. But, with integration of technology – Lendingkart does the same process within only 4 hours.

Pine Labs

Pine Labs | Fintech Startups in india

Pine Labs is a Gurugram-based merchant fintech platform that provides POS (Point of Sale) software solutions for offline retailers and brands. Initially, during 1990s to 2004, Pine Labs was a smart card-based payment and loyalty solution for the petroleum sector. Then, they introduced PoS machine for offline merchants.  Its Plutus POS solutions is a cloud-based software solution which can be integrated with a generic POS terminal and it allows retailers to accept debit and credit cards, e-wallets, QR codes and UPI based payments.

Pine Labs features include marketing tools, reporting and analytics, and offers payment gateway API solutions, mobile payment solution (via myPlutus), loyalty and gift card programs, value-added solutions like EMIs, discounts, pay by points, loyalty solutions, e-wallets, and others. The mobile app of Pine Labs is available on Android and iOS and can be used for targeted promotions, dynamic currency conversion and more. In 2017, Pine Labs launched its complete suite of services in Southeast Asian markets, and has a presence in Malaysia.

Money Tap

Moeny Tap Logo | Fintech Startups in India

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

Financial Software Systems (FSS)

FSS | Financial Services Startups in india

Financial Software Systems Pvt. Ltd. was founded in 1991 and is a Chennai based fintech that provides electronic payment and financial transaction processing solutions and services globally. Financial Software Systems records all the financial activity within a business organization.

Its products include card management, merchant management, mobile payments, financial inclusion, messaging middleware and value added solutions. FSS also offers software services which include systems integration, offshore development, project management and implementation and 24/7 global helpdesk support services. Financial software is divided into two categories:
1. Financial management (money management) - it typically provides the tools to manage banking, income flow, investing and planning.
2. Tax software - it provides importing tools, tax form preparation and e-filing of your taxes.

Shiksha Finance

Shiksha Finance Logo | Fintech Loan Companies in India

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, startup 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 Logo | Fintech Startups in India

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.

Capital Floats

Capital Float | Finance Startup in India

Capital Float is a Bangalore based digital finance company founded by Sashank Rishyasringa and Gaurav Hinduja that provides working capital loans and term loans to small businesses via a technology-led loan origination and credit underwriting platform. Capital Float offers loans ranging from Rs 1 lac – Rs 1 Cr, with terms between 1 – 12 months. The offers loans are based on cash flows, expected receivables, financials, CIBIL score and bank statements and the users can apply online and once the loan is approved it is disbursed to their bank account.

If you have orders from well-reputed corporate customers, you can avail borrow up to 80% of the value of a outstanding invoice, and repay only after you receive payment from your customer. The SME Lending platform distributed about 1,000 crore as of January 2017. The company has partnered with startups like Shopclues, Paytm and Uber. The company has raised more than $45 million in NCDs (Non-Convertible Debentures) and its funding partners include George Soros’s Aspada Investment Co., SAIF Partners and Sequoia Capital among others.


Amigobulls Logo | Fintech Startups in India

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. This fintech company offers investment advice and news to stock market investors through a patent-pending video generation technology.  


KredX | Financial Technology Startups in India

KredX is India’s first invoice discounting marketplace fintech platform that helps businesses gain quick access to working capital in around 24 to 72 hours by selling their unpaid receivables while providing investors with an opportunity to earn a low-risk high returns through a unique short-term investment. The company provides a technological platform that connects investors, both institutional and individual, with high-growth businesses looking for working capital through invoice discounting.

Its objective is that of facilitating short term working capital to the SMEs raised against blue-chip companies to a network of financiers. Their recent acquisition of Hummingbill – a New York based startup, to strengthen their technological capability has helped in their growth curve by lending space.

How does it work :
1. They ask the SME to submit certain documents and check on the credit health of the SME through their balance sheets, etc.
2. Physical verification, where the team checks on the office and credentials provided by the company.
3. KredX calculates the risk involved with the invoices uploaded by the SME, while relaying this information to the financiers of the ecosystem.

Credit Mantri

Credit Mantri Logo | Fintech Startups in India

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.


MSwipe Logo | Fintech Startups in Mumbai

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.


BankBazaar | Personal Finance Startups in Chennai

BankBazaar is a Chennai based online financial platform founded in 2008 by Adhil Shetty, Arjun Shetty and Rati Shetty for products distribution and comparison analysis. It enables users to buy personal loan, home loan, auto loan, and education loan. Besides these various loans.

BankBazaar also offers debit and credit cards, life insurance, health insurance, auto insurance, travel insurance products, mutual funds, fixed deposits and savings accounts. With multiple offers from multiple banks, you can compare offers and check your eligibility in minutes. Users only need to provide basic details to apply for a product online and can track its status. BankBazaar’s revenue comes from applications-based commission from banks. Customers dont need to pay any charge. BankBazaar had a total investment in the company of more than $110 million as of 2018.


Active.ai Logo | Financial Startups in India

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 startup is the banking sector particularly, maybe because all the founders were bankers. The founding members are Ravishankar, Shankar Narayan, and Parikshit Paspulati.


Finly Logo | Financial Startups in India

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.


Ezetap Logo | Financial Services Startup in India

Ezetap, cofounded by Abhijit (Bobby) Bose and Bhaktha Keshvachar. Ezetap provides businesses and financial institutions with smart technological transaction solutions. The Company develops and commercializes a mobile point of sale (PoS) solution that allows mobile devices to be converted into PoS terminals by connecting a card-reader into the headphone jack of the device.

Also read: 10 Best Payment Gateways in India


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. Hope above list of top Indian fintech startup companies help you in understanding financial terms. You can try the services of the companies which are listed above for help in the financial aspect.

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About Ashwini

  • Maharastra
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