Link Copied

These are the 20 Indian startups in the CB Insights list of 250 world’s most promising fintech companies

These are the 20 Indian startups in the CB Insights list of 250 world’s most promising fintech companies
  • There are currently over 2,174 fintech startups, according to a recent MEDICI Global report.
  • From Bharatpe to Cred to Razorypay, here are the startups that have been counted among the world’s most promising fintech cos.
The Indian fintech startup ecosystem has seen a wave of changes in the past few years -- first, with demonetization in 2016 and second, with the coronavirus pandemic. Both the events have forced not just companies to go digital and take their payments online but also India’s thousands of small merchants join the bandwagon.

This has led to a boom of fintech startups in the country – there are currently over 2,174 fintech startups, according to a recent MEDICI Global report.

And now, 20 of these fintech cos have made it to CB Insights 2020 250 of the world’s most promising startups in financial technology.



Bharatpe

Bharatpe
Bharatpe

Digital payments startup Bharatpe has been upping its game in the fintech landscape. The startup claims to have 40 lakh merchants across 35 cities in India. In 2019, the startup claimed to have grown by 30 times. It currently accounts for a total payment volume of $3.5 billion. The three-year old startup has raised a total of $142.5 million so far.

Advertisement

ClearTax

ClearTax
ClearTax

The fintech platform offers tax solutions and services to its customers. The company claims that it has helped over 5 million Indian taxpayers to e-file their tax returns and about 6 lakh businesses, 60,000 CAs and tax professionals, 1000 large enterprises in their GST filing. The 9-year old startup founded by Archit Gupta has raised $65 million till date.

Advertisement

CRED

CRED
CRED

Kunal Shah’s comeback startup CRED has been in the news since it was founded. The almost two-year old startup is already rumoured to be in the soonicorn list. It has raised $145.48 million so far and most recently, the startup became an official partner of the Indian Premier League.

Advertisement
Advertisement

Digit Insurance

Digit Insurance
Digit

The insurtech startup was founded by Kamesh Goyal and is backed by the Prem Watsa-led Fairfax Group, one of the largest financial services groups in the world. So far, the startup has raised $189 million. “We are honoured to have made it to this prestigious list of CB Insights Fintech 250 Fastest-Growing Fintech Start-ups, not once but twice. We are continuously working towards reimagining products and processes in line with our mission of simplicity. We have been able to earn the trust of over 90 lakh customers,” said Vivek Chaturvedi, Chief Marketing Officer, Digit Insurance.

Advertisement

Fyle

Fyle
Fyle

The Bengaluru-based expense management startup Fyle too made it to the prestigious list. The four-year old startup has so far raised just $10.35 million. It uses Artificial Intelligence to track expenses and create audit ready reports as well.

Advertisement

Groww

Groww
Groww

Groww is a stockbroking startup founded by former Flipkart employees – Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. Based out of Bengaluru, the company has over 40 lakh registered users. The startup has raised $35.8 million so far.

Advertisement

INDwealth

INDwealth
INDwealth

INDwealth is the latest entrepreneurial venture of the founder of the Ibibo group – Ashish Kashyap. He founded the company in 2018, and it is an AI driven financial advisory engine. The startup has raised $57 million in funding so far.

Advertisement

Juspay

Juspay
Juspay

The eight-year old payments technology firm helps simplify the payments processes for merchants. The full stack payments solution startup claims to have a 4 million daily volume of transactions. The startup has raised $27.4 million so far.

Advertisement

Khatabook

Khatabook
Khatabook

Khatabook, just like its literal meaning in Hindi, is an account book for small and medium businesses. The business app helps business owners keep a check on their accounts, digitally. The startup claims to have 8 million merchants on its platform and said that “1 Million merchants are uploading data and engaging with the Khatabook app daily while adding $200 Million worth of transactions every day. High engagement and utilization of the platform has resulted in more than 25% of the total active merchants joining the platform through word-of-mouth and referrals.”

Advertisement

Kissht

Kissht
Kissht

Kissht is a lending startup which was founded in 2015 by former McKinsey consultants Krishnan Vishwanathan and Ranvir Singh. The startup is backed by Sachin Bansal’s Navi technologies and has raised $49.25 million so far.

Advertisement

MoneyTap

MoneyTap
MoneyTap

The five-year old lending startup MoneyTap offers an instant credit line of upto ₹5 lakh and even allows users to withdraw as low as ₹3,000 . The startup has so far raised $89.7 million.

Advertisement

Moneyview

Moneyview
Moneyview

Another lending startup Moneyview made it to the list. The six-year old startup claims to have over 1 crore users across 5000 cities in India. The startup has raised $17 million so far.

Advertisement

Niyo solutions

Niyo solutions
Niyo

Niyo is a personal finance management startup. Founded in 2015, the startup has over 800 employees and has raised $49 million in funding.

Advertisement

Paytm Payments Bank

Paytm Payments Bank
BCCL

The Vijay Shekhar Sharma-led Paytm Payments Bank has attracted a large number of users to create fixed deposit accounts with a high interest rate at 7%. It also offers flexibility as customers can instantly redeem the partial/complete amount from their fixed deposit at any time free of charge. Recently, the bank had also crossed ₹1000 crore in savings accounts, with over 57 million account holders.

Advertisement

Perfios

Perfios
Perfios

Perfios offers data-driven solutions for consumer lending, sme lending and wealth management. The 12-year old product technology platform works with 200 lenders in India, including the top 10 banks and NBFCs. The startup has raised $58 million so far.

Advertisement

Pine Labs

Pine Labs
Pine Labs

The merchant commerce platform Pine Labs was founded in 1998. Over time, the company has ridden the technology wave and offers point-of-sale machines and solutions to merchants. The startup has raised over $207 million.

Advertisement

PolicyBazaar

PolicyBazaar
Policybazaar

The unicorn startup PolicyBazaar is an insurtech leader. Led by Yashish Dahiya, the startup was founded in 2008 and has till date raised over $558 million from leading investors. The startup on its website claims to get about 2,73,973 visitors in a day and about 11,416 visitors every hour.

Advertisement

Razorpay

Razorpay
Razorpay

The mobile payments solutions startup Razorpay claims to have a 35% monthly growth rate. Razorpay plans to increase the count of its partner businesses to 15,00,000 by the end of this year, while also expecting a 4x growth in its revenue. “We were a group of less than 10 people when we started Razorpay in a small room with a sole purpose to make online payments easier particularly for the underserved segments, SMEs. Fast forward to five years later, we are a 900 strong team today with a 500% growth, making this a tremendous journey for our partner businesses, their consumers and ourselves,” said CEO Harshil Mathur about the inclusion in the CB Insights list.

Advertisement

Rupeek

Rupeek
Rupeek

The gold loan startup claims to provide online gold loans at the lowest interest rates. The startup has raised over $81 million so far.

Advertisement

Zestmoney

Zestmoney
Zestmoney

The five-year old startup ZestMoney was founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman. The consumer lending startup aims to enable users who have no access to credit cards or any other formal financing options due to insufficient credit history. The startup has raised over $56 million so far.

Advertisement