As its name suggests, fintech combines finance and technology. Technology is being used by many market participants to streamline financial services like loans, insurance, investment, trading, budgeting, and much more.
Numerous businesses are concentrating on specialized industries as the fintech sector grows. The development has been extremely quick. The second-largest population of internet users is in India. This directly affects how much people are looking for digital financial services. India is now, behind the US, the world’s second-largest fintech hub as a result of this. The payments industry in India has the most fintech companies.
1. MoneyTap
In India, MoneyTap MoneyTap is an expert in personal loans. Online, they provide credit lines up to 5 lakhs. Customers have the option of choosing convenient EMI repayment terms. The maximum period is 36 months. They also only have to pay interest on the amount used. For a range of personal use scenarios, they provide a variety of loan types. For example, there are loans specifically designed for refurbishment, consumer durables, weddings, vacations, and much more. For its flexible borrowing options, risk-free credit, and no-collateral business approach, MoneyTap stands out.
2. Policybazaar
One of the most well-known insurance fintech businesses in India is Policybazaar. Its extensive offering and user-friendly platform have elevated it to the top spot among Indian insurance fintech firms. Almost all insurance products are available through Policybazaar. Its extensive offering and user-friendly platform have elevated it to the top spot among Indian insurance fintech firms. Nearly every insurance product on the market is available with Policybazaar. But these are their most well-liked products:
3. Term Life Insurance
It is paid for a predetermined period each year. It provides cheaper premium costs and more insurance coverage. Health Insurance: For an affordable price, comprehensive medical insurance covers everything from surgeries to hospital stays to daycare services. Motor Insurance: Unexpected damage coverage for vehicles.
4. Unnati
Unnati uses digital technologies to increase efficiency in the farming industry. Their ultimate objective is to use technology to empower farmers. This Indian fintech company with an agricultural focus increases openness in the farming industry, lowering risks. One of the key contributing factors to farming losses is unpredictability. Crop-specific advice is offered through Unnati’s products, which also support farmers at every stage of the farming process.
5. Acquaconnect
India’s most reliable aquaculture platform is called Acquaconnect. Through the use of AI and satellite remote sensing technology, they want to assist shrimp and fish growers. Personalized data for various use cases. Additionally, they provide an omnichannel marketplace with cost-effective quality brands. They provide formal farm financing and insurance as a leading fintech in this field to reduce risk. Acquaconnect provides farmers with official credit as well as insurance. It assesses risk scores, keeps track of, and verifies portfolio performance using AI and satellite sensing. The AI-powered Acquaconnect app gathers data on aquatic health, water quality, and feed optimization. Acquastore is a store where you can get the finest deals on all of your aquaculture needs.
6. Razorpay
a Bangalore-based company specializes in meeting the payment demands of startups and businesses. Razorpay makes it simple for merchants to take payments from and send payments to their dealers. Shashank Kumar and Harshil Mathur launched it in 2014. As it enables an online business to collect, process, and distribute digital payments through a variety of mechanisms such as debit cards, credit cards, net banking, UPI, and prepaid digital wallets, its service is used by thousands of customers. It is among Bangalore’s largest fintech firms.
7. Upstox
Financial services offered by Upstox include investments in stocks, mutual funds, derivatives, commodities, exchange-traded funds, and digital gold. By providing zero brokerage for equities transactions and up to INR 20 per order for intraday, commodities, and currencies, it offers complete transparency in pricing. For other young Indians, the founders of Upstox, Ravi Kumar, Kavita Subramanian, and Srini Vishwanath, had the idea to make trading and investing simpler and more affordable. With more than 250 employees and backing from business titans like Ratan Tata and Tiger Global, the Mumbai-based fintech company aims to make trading easy for its users.
8. Paytm
It was established in 2010 and is India’s biggest installment organization that offers buyers multi-source and multi-objective installment arrangements. They permit shoppers to make installments from any financial balance to some other ledger liberated from cost, i.e., 0% expense charges. North of 8 million dealers has benefited from its extensive installment arrangements. Paytm was established by Vijay Shekhar Sharma and is claimed by One97 Communications and is authorized by RBI. The Paytm application permits clients to look for both physical and advanced merchandise, and pay for DTH plans, charge installments, and portable re-energizes.
9. ETMoney
ETMoney is a full-stack venture stage with a great many items in the spaces of speculations, Mastercards and credits, protection, and monetary devices. It intends to improve the monetary excursion of retail clients. ETMoney was established by Mukesh Kalra in 2015. An enthusiastic organization that enjoys individual accounting, has turned into the first fintech organization in Quite a while to present Aadhar-based SIP installments. With more than 100 crore financial balances connected to Aadhar, the organization intends to work on portion installments with Aadhar OTP checks.
10. Refrens
Refrens is genuinely new to the fintech business in India. It was established by Naman Sarawagi and Mohit Jain in 2019. Refrens gives an installment passage framework to specialists to easily send and get installments. It offers free invoicing, installments, and cost administration frameworks. For specialists, it turns out to be not difficult to empower choices like adding installment techniques, offering limits, and so on for their clients. It is so natural to involve that making a receipt in only 30 seconds is conceivable.
11. Khatabook
Established in October 2018, by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, Jaideep Poonia, and Ravish Naresh, Khatabook is the world’s quickest developing SaaS organization. It has turned into India’s driving business the board application for MSMEs with 20M+ downloads in a surprisingly brief timeframe. This Bangalore-based portable application administration shares WhatsApp and SMS suggestions to clients when cash is expected to be paid or gathered. Khatabook empowers miniature, little, and medium vendors to follow deals securely and safely.
12. Capital Float
Capital Float is a Bangalore-based computerized finance organization established by Sashank Rishyasringa and Gaurav Hinduja that gives working capital advances and term credits to private companies using innovation drove credit to start and credit endorsing stage. Capital Float offers credits going from INR 1 lakh-INR 1 crore with terms between 1 – a year. The offered advances depend on incomes, anticipated receivables, financials, CIBIL scores, and bank explanations. People can apply online for the advance and when the credit is supported, it is dispensed to their ledger.
13. Amigobulls
Established by Chandu Sohoni and Poorna Nayak in 2013, Amigobulls gives answers to an abundance the executive-related issues. You can get the everyday stock examination as short, customized recordings. The customized recordings are made consequently utilizing Amigobulls’ innovation; a large number of recordings can be made shortly. This fintech organization offers venture counsel and news to securities exchange financial backers through a patent-forthcoming video age innovation.
14. KredX
KredX is India’s most memorable receipt limiting commercial center stage. It assists organizations with acquiring fast admittance to working capital in around 24 to 72 hours by selling their neglected receivables while giving financial backers a potential chance to procure generally safe exceptional yields through remarkable momentary speculation. Established by Anurag Jain, the organization gives a mechanical stage that interfaces financial backers, both institutional and individual, with high-development organizations searching for working capital through receipt limiting.
15. Monetary Software Systems (FSS)
Monetary Software Systems Pvt. Ltd. was established in 1991 and is a Chennai-based fintech adventure that gives electronic installment and monetary exchange handling arrangements and administrations universally. Monetary Software Systems records every one of the monetary exercises inside a business association. Its items incorporate card the executives, dealer the board, portable installments, monetary consideration, informing middleware, and esteem added arrangements. FSS additionally offers programming administrations that incorporate frameworks reconciliation, seaward turn of events, project the board and execution, and day in and day out worldwide helpdesk support administrations.
16. Finly
Finly lets organizations and new businesses break down their costs. Other than cost administration, Finly additionally facilitates the course of asset dispensing, and seller installment, and assists with the robotization of assortment. It assembles monetary programming items to set aside the organization’s cash and time. It was established in 2015 by Vivek AG.
17. Financepeer
Financepeer assists with paying the whole year charges forthright to the School in one portion and gathers expenses in 3 to 12 regularly scheduled payments from guardians at 0 Interest and 0 Cost. It is a Google brooded School (K-12) Fee Financing Company. Rohit Gajbhiye, Naveesh Reddy, Sunit Gajbhiye, and Debi Prasad Baral sent off Financepeer in 2017 to take care of a crowd of people that can’t bear to pay the school charges at the same time.
18. Cash View
Cash View was sent off in 2014 by two IIT companions, Sanjay Aggarwal and Puneet Agarwal. Cash View is a credit financer and helps in arranging by and large funds. It cooks for the client with the individual budget the board, to keep beware of regular funds and gives credits going from INR 10,000 to 5,00,000 in a day or less. The application furnishes the client with a perspective on their bank balance, pay spends, and pay duty by pulling from their SMSes. The application runs and is refreshed even without web availability.
19. Goal Teller
Objective Teller established by Vivek Banka in 2020 is a monetary arranging stage that permits clients to construct their monetary plans. It is a fintech startup in the venture arranging space and is working in the B2C space.
20. ePayLater
Akshat Saxena, Aurko Bhattacharya, and Uday Somayajula are the organizers behind ePayLater. ePayLater gives credit at the retail location. It offers a straightforward checkout experience by furnishing clients with the capacity to close exchange with only a single tick of a button. It is a ‘Purchase Now, Pay Later’ arrangement through which clients can gain admittance to a moment credit breaking point to make quicker buys.
