13 Top Fintech Startups in India

Man in India looking at the top fintech startups on a tablet.

If you’re an entrepreneur or business owner, it’s hard to ignore the buzz around fintech startups – especially in startup hubs like India. This wave of innovation is reshaping the financial industry and giving birth to a new breed of startups that are breaking down barriers and turning traditional banking systems on their head.

The importance of understanding and taking inspiration from these financial technology startups can’t be overstated. In this guide, we take a deep dive into the world of fintech startups in India, covering some of the most exciting up-and-coming companies.

Best Indian Fintech Companies

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up India’s top fintech startups that startup lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. Zolve

  • Founders: Raghunandan G
  • Founded In: 2020
  • Investors Include: DST Global, Community Investment Management

Zolve is an innovative fintech startup that is working to empower young dreamers looking for opportunities in the United States. They’re making it possible for individuals to navigate financial complexities smoothly, making the American Dream more accessible than it’s ever been. Their products, including US checking accounts, credit cards, and visa assistance, are crafted with a global citizen’s needs in mind. The best part? The entire application process is digital, leaving no room for unnecessary branch appointments.

Zolve is leading by example and showing us how financial tools can be made accessible and user-friendly. Their leadership team consists of experts in engineering, compliance, credit, and decision infrastructure who are driven by the common goal of helping individuals thrive in America. Their efforts have led to the creation of a product that is not just practical but also unique in its domain.

2. BharatPe

  • Founders: Ashneer Seth Grover, Bhavik Koladiya, Shashvat Nakrani
  • Founded In: 2018
  • Investors Include: InnoVen Capital, Tiger Global Management

BharatPe is an Indian fintech startup that’s making waves in the fintech industry with its highly tailored financial products for small businesses. Started in 2018, BharatPe has been instrumental in addressing the financing gap faced by small businesses. Their innovations include India’s first interoperable UPI QR payment solution with zero merchant discount rate (MDR), establishing themselves as a reliable one-stop fintech destination.

Their strategic moves don’t just stop at creating payment solutions, though, and their business strategy is equally commendable. In just a few years of operation, they have entered unsecured lending in partnership with RBI-approved non-banking financial companies (NBFCs), launched the BharatSwipe card machine, and became India’s third-largest P2M UPI payment player. They show no signs of slowing down as they currently facilitate over ₹7,000 crore ($842.3 million) in loans to merchants.

3. Grip Invest

  • Founders: Aashish Jindal, Nikhil Aggarwal, Vivek Gulati
  • Founded In: 2020
  • Investors Include: Stride Ventures, Venture Highway, AdvantEdge Founders

Grip Invest is changing the way individuals invest. With a focus on creating opportunities beyond stocks, fixed deposits, and gold, Grip is all set to redefine financial products in the Indian market. By offering detailed information on every opportunity’s commercial terms, returns, and partner profiles, Grip ensures the investor is well-informed and can make data-driven decisions.

What sets Grip apart is their use of technology combined with their rigorous due diligence process. Over 250,000 investors use the Grip platform, benefiting from their digital KYC, e-signing, and payment processes. The platform is committed to reimagining its users’ wealth creation journey completely and making it as simple as possible.

4. FinAGG

  • Founders: Nipun Kohli, Praveen Kumar, Srinivasan R.
  • Founded In: 2019
  • Investors Include: Tata Capital, Gray Matters Capital

FinAGG brings to the table an innovative solution for MSMEs in India: invoice-based financing. Through their “stock now pay later” model, FinAGG supports business growth by addressing a major challenge faced by small and medium enterprises in the country. Their leadership, with their extensive experience spanning banking, finance, supply chain, and technology, adds value to their mission.

Their partnerships with Tata Capital and SIDBI provide them access to affordable capital and a network within the Government of India. FinAGG’s strategic partnership with early investors such as Prime Venture Partners and others like BlueOrchard and BLinC Invest further strengthen their mission. With this robust support system, FinAGG hopes to propel the growth of MSMEs in India through its unique technology-driven product.

5. Jupiter

  • Founders: Jitendra Gupta
  • Founded In: 2019
  • Investors Include: Alteria Capital, Peak XV Partners

Fintech has become a game-changer in today’s digital era, and Jupiter is surely making its mark in the Indian market. With its slew of innovative features, it redefines how banking is perceived. A true embodiment of a digital bank, Jupiter provides a platform where one can manage their money as effortlessly as ordering food or chatting with friends. 

The ease and convenience it offers, ranging from digital account creation and real-time spend breakdowns to its unique rewards system called “Jewels,” is truly commendable. What’s more—there’s no minimum balance requirement or hidden fees, making it even more attractive for users.

6. KreditBee

  • Founders: Karthikeyan Krishnaswamy, Madhusudan Ekambaram, Vivek Veda, Wan Hong
  • Founded In: 2018
  • Investors Include: Advent International, India SME Investments

When it comes to instant personal loan platforms, KreditBee stands out from the crowd. Specially designed for both self-employed and salaried individuals, it offers loans ranging from ₹1,000 ($12) up to ₹50 lakh ($60,000). 

The beauty of this platform is in its simplicity and speedy approval process. Users can apply for a loan, and the cash is immediately transferred to their bank account upon approval—all within 15 minutes. What sets KreditBee apart is its focus on offering loans of varying sizes and repayment tenures, effectively catering to unpredictable financial needs without any compromise.

7. Finhaat

  • Founders: Navneet Shrivastava, Sandeep Katiyar, Vinod Singh
  • Founded In: 2021
  • Investors Include: Omnivore, Kettleborough VC

Paving a unique path in fintech, Finhaat is working to extend formal financial services to those residing in rural and semi-urban areas of India. It has identified a significant gap in these areas where people lack access to essential financial services like insurance. 

With a vision of making finance more inclusive, Finhaat offers a range of curated financial products to cater to these financially overlooked populations. The platform not only offers insurance solutions but also savings and investment services customized to meet the specific financial goals of these clients.

8. Velocity

  • Founders: Abhiroop Medhekar, Atul Khichariya, Saurav Swaroop
  • Founded In: 2020
  • Investors Include: Valar Ventures, Presight Capital

Setting the bar high in the fintech space, Velocity aims to offer better, faster, and more flexible financial products than traditional banks. The startup’s main focus currently is ecommerce brands. With its revenue-based financing model, it offers financing options of up to ₹2 crore ($240,000) with no equity dilution or personal guarantees, making it an attractive option for new businesses. 

By facilitating easy access to funding through the sharing of online data, Velocity empowers entrepreneurs to realize their dreams. Its headquarters are in Bangalore, with additional offices in Gurgaon and Mumbai.

9. Mylapay

  • Founders: Mohan Raj Ravi, Ram Kumar, Santhana Kumar, Sriharsha Ramayanam, Sundar Balasubramanian
  • Founded In: 2019
  • Investors Include: CDM Capital, 77 Capital, Saison Capital

As a pioneer in fintech startups in India Mylapay has carved a niche for itself in the financial technology market of the nation. Specializing in online payments, Mylapay offers a 3DS Server product that facilitates fast and secure authentication, thereby simplifying digital transactions. One of its unique products is IntelleEngine, which streamlines post-payment processes like clearing, settlements, and risk management. 

Mylapay’s partnership with Razorpay tipped the scales of profitability in their favor, creating new revenue opportunities through a simplified workflow. The expertise of the Mylapay team has been recognized and appreciated by numerous partners, making it an emerging force to reckon with within the space of fintech startups in India.

10. Credgenics

  • Founders: Aditya Gupta, Anand Agrawal, Mayank Khera, Nitin Upadhyay, Rishabh Goel
  • Founded In: 2018
  • Investors Include: Accel, Tanglin Venture Partners, Westbridge Capital

Credgenics has made its mark in the fintech startup landscape with its award-winning loan collections platform, being named India’s best-selling platform for both 2022 and 2023. The platform is engineered to automate communications such as emails and SMS along with facilitating the tracking of calls and follow-ups. 

Using the power of AI Credgenics creates a detailed analysis of recovery chances, costs, and timelines for loan accounts. But what sets this platform apart is its integrative dashboard and mobile app features that collate all digital and physical notices in one place and streamline in-app calling and navigation to reach borrowers. Impeccable organization combined with a great customer experience places Credgenics far ahead of the crowd among other fintech startups in India.

11. INDmoney

  • Founders: Ashish Kashyap
  • Founded In: 2018
  • Investors Include: Dragoneer Investment Group, Steadview Capital

INDmoney is a fintech firm with its stock broking activities registered under SEBI. INDmoney has thrived through Finzoom Investment Advisors, which operates as a separate investment advisory unit delivering diverse financial services. Finzoomers Services Private Limited is another one of their subsidiaries that exists under the umbrella of INDmoney, offering various services from facilitating fixed deposits, savings accounts, and digital lending to foreign remittance. 

Despite its “multifaceted” operations, INDmoney maintains its transparency with its investors; with INDmoney’s broad portfolio of services, entrepreneurs and business owners alike have no shortage of options, making this startup really stand out in the fintech market.

12. Niro

  • Founders: Aditya Kumar, Sankalp Mathur
  • Founded In: 2021
  • Investors Include: Elevar Equity, InnoVen Capital, Rebright Partners

Niro is actively working to provide users with a variety of competitive financial services products. The primary philosophy governing Niro’s operation is to engage users more deeply with financial products that are competitive and frictionless. 

The concept of building one’s own financial services franchise with limited or no cost is fundamental to Niro’s vision. With the backing of Elevar Equity and leading angel investors, Niro seeks to build a successful franchise using engagement data from users. As a result, Niro is reshaping the fintech landscape and making it a prime choice among the fintech startups in India for potential investors and users alike.

13. Stable Money

  • Founders: Harish Reddy, Saurabh Jain
  • Founded In: 2022
  • Investors Include: Lightspeed India Partners, Matrix, Titan Capital

India’s fintech landscape continues to flourish, with promising startups like Stable Money making waves in the sector. Stable Money is a unique platform designed for investing in fixed deposits (FDs). This startup has revolutionized the traditional process of investing in FDs, making it more secure and user-friendly.

One of the innovative aspects of Stable Money is its inherent safety. Instead of holding funds like traditional financial systems, the money invested through Stable Money goes directly to the bank. This ensures that investors’ funds are never at risk, adding an extra layer of security to the investment process. Even better, Stable Money does not charge any fees for using its platform, making it an affordable solution for investors.

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