Monday, July 22, 2024

Top 10 Fintech Companies In India 2024

Top 10 Fintech Companies In India Offering Financial Growth And Digitization

The fintech industry in India has seen incredible development in recent years due to the fast adoption of digital technologies and growing need for frictionless financial transactions. Among others, payment firms have been at the forefront of this change by completely changing how Indians carry out money-related activities. These establishments have come up with new ways that address various customer wants as well as business requirements thereby promoting financial inclusivity and simplifying entrepreneurship.

Still, even though it is May 2024 now, leading Indian fintech payment companies are continuing on their path towards revolutionizing digital payments in this country through such things like state-of-the-art payment solutions, strong safety measures and unmatched convenience. Therefore let us discuss about these top ten Indian Fintech Payment Companies which are shaping the future of digital payments in our nation today.

1. Paytm

Address: Skymark One, Shop No.1, Ground Floor, Tower-D, Plot No. H-10B, Sector 98, Noida, UP, India. PIN: 201301

Employees: 10,487

Funding Raised: $5B (raised $300M in 2016)

Investors: Sameer Brij Verma, Ravi Adusumalli, MediaTek, Alibaba

About Paytm:

Paytm was established in 2000 and is derived from “pay through mobile” and it is one of the forerunners when it comes to Indian mobile payments as well as financial services industry. Payments comprise only a part of what they do since there are also banking services such as loans and insurances that customers can avail from this company which provides everything needed by any individual for their financial needs.

It has its own QR code system which is widely used all over India making it possible for people to recharge phones online pay utility bills book tickets etcetera and make payments while shopping at stores among other places using just their mobile phones or tablets with internet connection facilities enabled on them This year saw an initial public offering (IPO) by its parent organization one97 Communications Limited being listed at various stock exchanges across India thereby becoming biggest ever IPO till date.

USP: When e-wallets were introduced into our country by payTM nobody knew how far reaching digital transactions would become but even then payTM decided not to stop at supporting unified payment interface alone up until now they have continued maintaining a separate transfer system alongside their very own.

Customer Testimonial:

“Mostly works without any glitch.. UI has come long way since beginning days & app could be made simpler to navigate though .. I use it almost everywhere for payments .. Also sending credit from wallet to banks privilege is insane no other e-wallet company gives this option” – Priyanshu Raj (via Google Play)

2. Credit Dispenser

Directions: 6th floor, B block, The first, After Keshavbaug Party Plot, Vastrapur, Ahmedabad, Gujarat – 380015, IN

Staff: 930 employees

Funding Raised: $215.4M ($15M raised a year ago)

Investors: Alteria Capital, Anicut Capital, Ashvin Chadha , Bertelsmann India Investments , Darrin Capital Management , FMO , Fullerton Financial Holdings , India Quotient , Mayfield Capital , Saama Capital , Shailesh Mehta (Saffron Advisors), Sistema Asia Fund / JSFC Bank / Naka Holdings / Yota Devices (Alexander Chachava) / SBI Group (Hemant Kanawala) / JSC Capman (Andrey Shirben) / KTCT Venture Fund (Kazuhiro Asako), State Bank of India (SBI), Yes Bank

About Us:

Lendingkart was founded in October 2014 by Harshvardhan Lunia and Mukul Sachan to provide quick and easy loans to small businesses across the country. By evaluating creditworthiness through big data analytics and machine learning algorithms within seconds, we ensure that our users receive funds within 72 hours of application submission.

Our Unique Selling Point:

We are one of the few platforms that use AI/ML based underwriting automation systems for lending money which enables even those without traditional credit scores get access to credit facilities on fair terms.

3. CashStream

Directions: Sigma Soft Tech Park Whitefield Main Road Bangalore Karnataka India – 560066

Employees: 151 Employees.

Funding Raised: $82.4M ($70.05M raised 3 years ago)

Investors: Aquiline Technology Growth; MegaDelta; NEA; Prime Venture Partners; RTP Global; Sequoia Capital


MoneyTap was founded in 2015 by Bala Parthasarathy, Kunal Varma and Anuj Kacker with the aim of providing instant personal loans up to Rs 5 lakhs through their seamless mobile app process. They have partnered with banks to offer quick, flexible and paperless loans charging interest only on borrowed amount.

Unique Selling Point :

MoneyTap enables individuals without credit scores to access instant collateral free loans at reasonable rates.

4. QuickCard

Directions: 302, 3rd Cross 9H Main Rd, HRBR Layout 1st Block, HRBR Layout, Kalyan Nagar Bangalore Karnataka India – 560043

Employees: 152 employees

Funding Raised: $14M ($944K raised two years ago)

Investors: 500 Startups, AnyPay, Blume Ventures, Kalaari Capital, Rajan Anandan, Times Internet

About Instamojo:

Instamojo is a transactional platform that brings small businesses online. It was the first to introduce the payment link concept in India and provides easy-to-integrate payment solutions. Apart from this, it also gives tools for store setup on the internet, insights into performance and growth of business.

USP: Instamojo enabled flexible online payments for businesses by being the pioneer in payment link services in India.

5. Razorpay

Address: SJR Cyber Laskar, Hosur Road, Adugodi, Bengaluru – 560030 Karnataka India

Employees: 2,219

Funding Raised: $385M ($160M raised a year ago)

Investors: GIC Sequoia Capital Tiger Global Y Combinator and others

About Razorpay:

Razorpay has credit/debit cards net banking UPI top wallets etc as part of its comprehensive online payment solutions. Its products include Subscriptions Invoices etc under the platform like Razorpay Route Smart Collect which cater to different business requirements ranging between collection of payments to managing cash flow.

USP: Razorpay provides end-to-end payment solutions and aims at launching its own NeoBank soon. consumers, and its growth and revenue numbers reflect its success in the Indian fintech market.

6. Shiksha Finance

Website: Shiksha Finance

Address: 497, Kattima Isana Mall, 3rd Floor, Poonamallee High Road, Arumbakkam, Chennai – 600106, India

Employees: 128

Funding Raised: $33.9M ($4.24M raised three years ago)

Investors: Aspada, Michael & Susan Dell Foundation, Northern Arc, Triodos Investment Management

About Shiksha Finance:

Shiksha Finance is a company that lends money to schools and students for their fees. Its goal is to increase the number of people who can get good education by supporting education entrepreneurs and expanding branches in small towns and villages so that more children don’t drop out from school.

USP: The most important thing for Shiksha Finance is not the profit but the welfare of communities with low and average incomes through education.

7. Pine Labs

Website: Pine Labs

Address: 2 Candor Techspace Plot No. B2, Industrial Area, Sector 62, Noida – 201309, India

Employees: 1,449

Funding Raised: $911.2M ($600M raised a year ago)

Investors: Actis; BlackRock; Fidelity Investments Worldwide; Mastercard; PayPal Holdings Inc.; Sequoia Capital India Advisors Private Limited; Temasek Holdings (Private) Limited.

About Pine Labs:

Founded in 1998 as a card-based payment solutions provider company called Pine Solutions Ltd., it has evolved into an omnichannel merchant platform powered by cloud technology which serves over 100K merchants across Asia with multiple payment acceptance options including card payments on traditional POS terminals as well QR code based transactions at retail points using smart phones or other devices connected through internet.

USP : Pine labs were one among pioneers who introduced cards based payments acceptance solution for merchants very early when such systems were not so common.

8. ZestMoney

Website: ZestMoney

Address: Site No. 19 & 20, Koramangala 1A Block, Bangalore, Karnataka, India. PIN: 560034

Employees: 303

Funding Raised: $117.6M ($50M raised about 10 months ago)

Investors: Goldman Sachs; Naspers Ventures Limited; Omidyar Network Fund Inc.; PayU Global BV; Xiaomi Corporation Limited.

About ZestMoney:

ZestMoney is a technology company which uses mobile phones and AI (Artificial Intelligence) to provide credit access for people without any credit history at all in digital banking platforms using its own decision engine based on machine learning algorithms that take into account various parameters related to borrower’s profile like income level etc.

USP : AI/ML based underwriting of loans enables individuals with non-existent traditional credit histories get access to credit facilities through their mobile devices powered by zestmoney application software.

9. PolicyBazaar

Website: PolicyBazaar

Address: 123, Sector 44, Gurugram, India. PIN: 122003

Funding Raised: $616.6M ($75M raised a year ago)

Investors: SoftBank Vision Fund II L.P.; Temasek Holdings (Private) Limited; Tencent Holdings Ltd; Tiger Global Private Investment Partners XI LP

About PolicyBazaar:

Policy Bazaar is an online aggregator for insurance products in India which was established back in the year of two thousand eight. It provides comparison services among different policies available from various insurers along with renewal option and claim settlement facility thereby democratizing this financial product landscape for public use making it easier than ever before to make informed choices and select suitable plans based on individual needs without having any bias towards particular company or agent involved in selling these policies.

USP : Easy comparisons help people understand what they need before buying anything related to money matters thus promoting financial inclusion.

10. InCred

Website: InCred

Address: Level 3 & 7, The Capital, Plot No. C-70, G Block, Bandra Kurla Complex (East), Mumbai, India. PIN: 400051

Employees: 875 people.

Funding Raised: $177.2 million (raised $2.1 million three years ago).

About InCred:

InCred is an NBFC that provides personal loans for education, homes and SMEs; applying technology to augment analytics and risk management while extending credit access to people without conventional credit history.

USP: InCred uses technology as a tool for expanding credit access by giving personal loans to individuals who may not qualify under traditional bank systems.”


These fintech payment companies in India among the top 10 have changed how digital payments are done in this country by making them more convenient and hassle-free for both customers and businesses. These enterprises are setting up the future of fintech in India with their use of advanced technology and creative solutions. In fact, as the fintech industry continues its expansion we should expect even greater innovations from these organisations that will turn India into a global centre for digital financial services provision.

And every one of those firms has got an interesting history behind it; besides, it shows us how much people want to pay through different digital systems instead of using cash here. Perfios offers personalized tools for managing finances while PineLabs provides smooth payment experience – all these things contribute to development within Indian Fintech sector.

Moving ahead, what more can be said about such companies’ contribution towards innovation or shaping future directions for Indian Fintech? The answer lies with us but one thing is clear that Government’s thrust on Digital Payments coupled with Financial Inclusion drive will only make brighter days come closer still. However, let me tell you this now – those ten names mentioned earlier are just tip of an iceberg when it comes down to new wave of transactions via electronic means which we are about witness during coming years here in India!


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