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A new restaurant at the corner of the lane, online offers, sale season, and food applications make life easy by delivering in your footsteps; all of these are so tempting. With over a hundred reasons to spend, one might get concerned about the monthly expenditure. It is cumbersome to keep an account of our expenses in this life of hustle and bustle, but an application like Moneyview, which helps in monitoring day-to-day finances, is the answer to all our money-related issues.
Moneyview was launched in 2014 by two IIT friends, Sanjay Aggarwal and Puneet Agarwal. Moneyview caters to the user with personal finance management, to keep a check on everyday finances. Be it; electricity bills, or travel expenditures, it has a record of cash expenses and regularly reminds the users of payments that are due. Not only this, but Moneyview also provides loans. What more do we need from an application?
Moneyview has joined the unicorn club with a valuation exceeding $1 billion on 12 September 2024. After the latest allotment, its valuation has surged to INR 10,086 crore ($1.2 billion), marking a notable increase from its $900 million valuation in December 2022.
This article is all about this interesting startup that is helping millions of users manage their expenses and live a life of financial discipline.
Struggling with your monthly budget? Look no further. Moneyview is here to keep you sorted about your expenses. Moneyview is a personal money manager and expense manager app that focuses on making financial management simple, smart, and secure; thereby, enabling end-consumers to manage their day-to-day expenses and finances in a better way.
Founded in 2014, Moneyview is a versatile personal money manager app, which offers a snapshot of all your finances. It scans texts related to your bank accounts and spending on your mobile phones and gives you a well-organized view of your expenses. It also has a bill tracker, which ensures that you never miss a payment deadline. Recently they have also moved on to giving personal loans to the users.
According to the co-founders, Moneyview is an application designed to give you a single view of what’s happening with your money. It tracks all the daily expenses by sifting through the debit/credit card messages received from the bank on your phone. Thus, letting you know your expenditure on a daily, weekly, and monthly basis. Moreover, it tries to understand your spending pattern and reminds you to pay your bills on time. Unlike other apps, Moneyview organizes all the data through SMSs, without one having to manually segregate them.
Since 2016, Moneyview comes in 6 local languages, namely Hindi, Gujarati, Bengali, Tamil, Telugu, and Kannada. The main reason to have local languages is to be able to fully solve the users’ problems. Currently serving more than 10 million users, Moneyview assures to have a security system like the best banks in the country. The company uses personal client information only to provide a better experience. The information is encrypted which helps in avoiding any data loss or misuse.
The Moneyview App Has Three Big Features
The first feature gives the consumers a single view of where their money is. It lists out all the financial accounts that one has like bank accounts, credit card accounts, loan accounts, etc. Get a graphical view of your ‘Available to spend’ before you hit your budget.
The second features tell you where your money is going. How you are spending your money? It also auto-categorizes your spending; it assembles facts like out of 50,000 bucks you have spent so much on food, rent, and shopping.
The third feature is the app is integrated with tools for users to start making better financial decisions. The first tool is a budget management tool. It enables real-time budget management. You can set up your budget for a particular month and at any given point in time the app will tell you how much more you can spend in the remainder of the month.
Also, the company assures that the Moneyview app is safe. It uses 256-bit data encryption for data management, to keep the customer data safe and secure. Besides, it is important to know that the app decodes only the transaction-related messages on your phone, and not your OTP or other personal information.
Technological Tools
Technology is the backbone and the key facilitator in the app’s offerings. Moneyview makes use of sophisticated natural language processing and information retrieval techniques to create intelligent norms. These are then utilized by the app to produce a very accurate picture of the users’ financial data in a way that they can simply and effortlessly understand. Therefore, it uses its patent technology that systematizes the data from these messages to deliver a simple and smooth view of the users’ finances through the app.
All You Need to Know about Moneyview Personal Loan
Moneyview, a fintech startup, is a loan financer, which also helps in planning overall finances. It can provide loans ranging from INR.10,000 to INR. 5,00,000 within a day or less. The application pulls data about banking, bills, and expenses from the client’s SMS box. It provides the user with a view of their bank balance, income spent, and income dues. The application is designed for all smartphones and is also a lightweight application, which can run and be updated even without internet connectivity.
Moneyview offers personal loans of up to INR 5 lakh for a period of 3 to 60 months. You can simply download the Moneyview Loan app and apply for a Personal loan. You just need to fill in the required details and upload the documents required through the Moneyview Loan app. After your profile is verified, you receive the NACH (National Automated Clearing House) form and loan agreement on the app. After submitting a signed copy of the NACH mandate, and loan agreement, Moneyview disburses the amount to your bank account normally just within a few hours.
Eligibility criteria for receiving Moneyview Loans are:
Your age should be between 21-57 years
Your salary should come by bank transfer
Income criteria vary based on whether an applicant is salaried or self-employed, the applicant’s CIBIL score ( minimum 300 required), credit history, and the applicant’s location
Documents required for Moneyview Loans
ID proof (Aadhar card or PAN card)
Address Proof
Bank Statement of Salary Account
Income Tax Return Verification Form for the last 2 years, in case of self-employed persons
The best part about Moneyview Loans is that the entire process from documentation to verification is paperless and digital.
Moneyview Loan’s interest rates vary from 16% pa to 24% pa. EMI payment can be done manually through the app or one can also opt for the auto-debit option. Besides, users can go for foreclosure of Moneyview Loans anytime after payment of 3 EMIs.
Moneyview Loan Status Check
Moneyview offers its users the facility of loans ranging from INR 5,000 to INR 5,00,000. You can easily check the loan status in Moneyview. If you’re wondering about easy ways to Moneyview loan status check, then:
You first need to visit the website of Moneyview and then click on the Sign in option
You then need to log in to your loan account with the help of your registered email address
After that, you need to check out the Dashboard and then scroll down to the Application Status tab, where you will be able to check your loan application status.
Moneyview – Founders and Team
Moneyview was founded in 2014 by two IIT friends, Sanjay Aggarwal and Puneet Agarwal.
Moneyview Founders – Puneet Agarwal and Sanjay Aggarwal
Puneet Agarwal
Puneet Agarwal graduated from IIT-Delhi in 1995 and moved to the US to complete his MBA from Purdue University – Krannert School of Management. He was there for the next 17 years, working at different companies including McKinsey, Capital One, and Google, where he was a product management director. Puneet started his career working as a consultant for McKinsey for about three years. He then worked with Capital One, Bling Nation, and as a Product Management Director for Google. Puneet has been an entrepreneur for 7+ years now and also advises and invests in start-ups.
Sanjay Aggarwal
Sanjay Aggarwal, the co-founder of Moneyview, is an IITian who completed his BTech degree in 1993, from the Indian Institute of Technology, Delhi. Later, he continued working as an engineer at Ciena Corporation, and Yahoo, among others. Sanjay Aggarwalhas vast tech experience working with companies like Appian Communications Inc., Ciena Corporation, and Yahoo! After this, Sanjay founded minglebox.com, an education portal providing content on colleges, courses, exams, and admissions, in the year 2006.
Moneyview has a team that is of around 201-500 employees, which helps in securing the data of the clients. The company’s core value is to bring simple solutions and have control of your money at the same time.
Moneyview – Startup Story
It was a dream of both the co-founders, which started one day while sipping coffee at Starbucks. The dream was to make India financially fit through a mobile app. After Puneet came back to India in the year 2013, he moved to Bengaluru, to gauge the start-up scene and start something of his own. While looking for a place to stay in the city, he reunited with his IIT senior, Sanjay. It was the same time when Sanjay was exiting his venture, Minglebox. He along with Sanjay started Moneyview in the year 2014. They then realized at an early stage, in the year 2016, that providing the application in local languages would help solve the problems of users better. Their target is to provide young India with an application that helps to keep a check on their expenses.
In the beginning, Moneyview only provided the users with guidance to save, this helped in gaining data. In the year 2016, Moneyview became a complete fintech product. ‘We believe that access to financial services is a basic right to all individuals’ is the core belief of the start-up founders. Moneyview is now a paperless application, allowing users to set budgets, view their bank account details, manage bills, and record cash expenses.
Moneyview – Logo
Moneyview Logo
The logo design of Moneyview communicates trust and innovation, aligning with Moneyview’s mission of empowering users with financial control.
Moneyview – Business Model & Revenue Model
With Moneyview, Sanjay and Puneet are focusing on establishing a trusted brand in the personal finance management application segment. They are also looking at moving from just notifying users of their savings, to notifying them about potential investments that can be made.
“Our aim is to help our users stay on top of their finances with zero effort. With our focus continuously on adding features and offerings that help our users stay financially fit. For instance, one of the things the app helps the user with is to start saving more by managing his expenditure. The users will soon be able to find smart ways to invest their savings from within the app,” quotesMoneyview co-founders Sanajy and Puneet Agarwal.
Since Moneyview is a free application, the company does not have a fixed revenue model. It follows month-on-month metrics, and as claimed by the founders in a 2015 interview, the company was growing at almost 100 percent.
In 2016, Moneyview tied up with ICICI Prudential Mutual Fund and launched Green Account, a feature that lets the users of Moneyview App, invest through the app. Moneyview earns a commission on every investment made through the app.
Moneyview Financials
Moneyview Financials
FY22
FY23
FY24
Operating Revenue
INR 222 crore
INR 577 crore
INR 1,012 crore
Total Expenses
INR 240 crore
INR 515 crore
INR 1,190 crore
Profit/Loss
INR 17.7 crore
INR 163 crore
INR 171 crore
Moneyview Financials for FY22, FY23, and FY24
In FY23, Moneyview’s revenue increased by 160%, growing from INR 222 crore in FY22 to INR 577 crore in FY23. Expenses increased by 114%, from INR 240 crore to INR 515 crore. Even with higher costs, Moneyview made a strong profit of INR 163 crore in FY23, compared to just INR17.7 crore in FY22.
The company recorded a 20% growth in its revenue from operations, which became INR 98.45 crore in FY21 from INR 81.45 crore in FY20. The losses of Moneyview were also restricted by 31%, thereby making it stand at INR 46.81 crore (FY21) from INR 68.30 crore in FY20
In FY24, Moneyview reported a revenue of INR 1,012 crore, a notable increase of 75% from INR 577 crore in FY23. Total income also improved considerably, increasing from INR 677 crore in FY23 to INR 1,389 crore in FY24, representing a growth of approximately 105.6%.
Moneyview’s profit rose slightly from INR 163 crore in FY23 to INR 171 crore in FY24, an increase of about 4.9%. However, total expenses more than doubled, growing from INR 515 crore in FY23 to INR 1,190 crore in FY24, an increase of about 130.5%.
Moneyview – Funding and Investors
Moneyview has raised a total of $190.4 million so far. Its most recent funding came from a Series E-II round on September 12, 2024, where $4.6 million was invested by Accel India and Nexus Venture Partners. This new funding pushed Moneyview’s valuation up to $1.2 billion, making it a unicorn. Earlier, in a Series E round, the company raised $75 million, led by Tiger Global Management, at a valuation of $900 million.
Date
Stage
Amount
Investors
September 12, 2024
Series E- II
$4.6 Million
Accel India and Nexus Venture Partners
December 26, 2022
Series E
$75 Million
Apis Partners, Tiger Global Management
March 9, 2022
Series D Round
$75 Million
Tiger Global, Winter Capital, Evolvence India, Accel and more
December 14, 2018
Series C Round
$13 Million
Accel
January 31, 2016
Venture Round
$8.61 Million
–
April 1, 2015
Venture Round
$6.90 Million
Tiger Global, Accel India, Ribbit Capital
October 1, 2014
Series A
$1.32 Million
Accel
Moneyview is also looking at investing a part of this funding in consumer acquisition activities and building the brand. Moreover, looking at expanding their team size while looking at hiring, the co-founders aim to double their technical team strength by the end of this year. Starting with just the two of them, currently, the company can now boast of an active functioning team of 55+ individuals. Their primary spending remains to be on the technology they’re using to power the product.
Moneyview – Acquisitions
Moneyview acquired Jify on September 12, 2024. Jify is a platform offering on-demand earnings access, through a share swap. Jify’s investors, Accel and Nexus, received Moneyview shares in the deal. This acquisition will enhance Moneyview’s financial services and expand Jify’s reach, marking a significant step in Moneyview’s growth into various financial products.
Moneyview – Growth
Currently, Moneyview has a user base of over 10 million. The Moneyview app currently has customers across 400 Indian cities. Besides, Moneyview loan has also received positive reviews from customers. The Moneyview Loan app is rated 4.2 in the Google Play Store.
Moneyview currently boasts over 1 million app downloads per month and it takes pride in catering to more than 200 mn underserved customers. Currently, as per Moneyview, the business has grown 4X in the previous year and is presently disbursing loans at an annualized run rate of $700 million.
With the steady rise in the number of Indians opting for digital payments, Sanjay and Puneet are planning to take Moneyview to new heights.
Moneyview – ESOPs
Moneyview has expanded its ESOP pool, where it has added INR 72 crore worth of stock options, as of May 28, 2022. The earlier 1,33,338 stock options of Moneyview were increased to INR 1,75,390 options. Its new ESOP pool is now worth INR 300 crore ($40 million) including the recent expansion worth INR 72 crore.
Moneyview – Awards & Recognitions
To list, some of the major awards and recognitions that Moneyview witnessed in recent times are:
Moneyview has been ranked as the Best App in the year 2015 by Google, India.
It was also a runner-up in the IBM start-up challenge.
It was listed in the ‘Top 100 Startups in India 2018‘ by SutraHR.
Moneyview – Partnerships
Moneyview partners are many including the ICICI Prudential Mutual Fund, with which the company has collaborated to launch an app-based solution – the Green Account platform.
Through the Green platform, it will offer two exclusive products—Savings+ and Tax Saver+—allowing users to take a step ahead towards financial fitness by saving money and growing it faster.
Savings+ is designed as a suitable alternative to traditional saving options. It allows users to park them in Liquid Funds offered by ICICI Prudential Mutual Fund. Meanwhile, the Tax Saver+, the second product offered through this partnership, helps users save on their taxes by investing in Equity Linked Savings Scheme (ELSS) option provided by ICICI Prudential Mutual Fund.
Moneyview has tied up with more than 3 banks as lending partners. Moneyview is also inviting individuals to join them as loan partners. Interested individuals can visit the Moneyview website, register as a loan partner, and start earning by referring anyone who is looking for a Moneyview personal loan. The online credit platform has partnered with over 15 financial institutions to date to expand and better its credit offerings.
Moneyview – Competitors
As far as the financial management space is concerned, Moneyview is not the only personal assistant available. There are others such as ‘Walnut’ to track expenses, get bank balances, and split bills with friends; Times Internet-backed money management app, ‘Smartspends’; expense manager ‘Gullak’, which claims to have registered over 1 million downloads; and Aditya Birla’s ‘MyUniverse’.
As bigger and more applications are building at a high speed, the market is getting tougher. Moneyview believes to be competing with applications like:
In the coming months, it will be interesting to see how this company will bring the necessary differentiation to rise above its competition and generate a value proposition in the minds of its customers.
Moneyview – Future Plans
The company is currently looking to have $1 billion in assets under management (AUM) over the next 12 months. Moneyview is also eyeing to be more profitable in the upcoming fiscal.
Moneyview is a fintech company founded in 2014, which has an app that is user-friendly via which the users can track and organize expenses, bills, and account balances. Furthermore, with the Moneyview app, they can also avail of personal loans.
Who is the owner of the Moneyview company?
The Moneyview has been founded by Puneet Agarwal and Sanjay Aggarwal, who are among the Moneyview owners.
Does Moneyview provide loans?
Yes, in addition to helping you keep track of your daily finances, Moneyview also provides loans ranging from INR 10,000 to INR 5,00,000 within a day or less.
Who are some competitors of Moneyview?
Some Moneyview competitors are Faircent, Lendingkart, and Capital Float.
Does Moneyview provide loans?
Yes, in addition to helping you keep track of your daily finances, Moneyview also provides loans ranging from INR 5,000 to INR 5,00,000 within a day or less. Its instant loan can also be approved within 2 minutes.
Who are some competitors of Moneyview?
Some Moneyview competitors are Faircent, Lendingkart, and Capital Float.
Fintech, short for financial technology, has become a crucial part of the global economy., all financial tasks were completed through paperwork only, as a paper-based medium was considered to be the safest. But with the development of technology, the internet has emerged as the preferred platform for financial transactions.
It is essentially an economic industry composed of companies that use technology to make financial services more efficient. They are used mainly by individuals to help in mobile payments, insurance, cryptocurrency and blockchain technology, stock trading, digital lending and credit, budgeting and much more. Tech-focused startups and similar new market entrants are disrupting the way in which the financial services industry conducts its operations.
India has the world’s second-biggest fintech hub with more than 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.
Let’s look at the list of the top fintech companies in India.
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Paytm was founded in 2010 and is India’s largest payment company that offers consumers multi-source and multi-destination payment solutions. They allow consumers to make payments from any bank account to any other bank account free of cost, i.e., 0% 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 and is licensed by RBI. The Paytm app allows 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 on a global scale. They have investors like Berkshire Hathaway, SoftBank Group, and MediaTek and even raised an undisclosed amount from Ratan Tata in March 2015. It is arguably the biggest fintech startup in India.
2. Razorpay
Founder: Shashank Kumar, Harshil Mathur
Founded: 2013
Razorpay Logo
Founded in Bangalore, Razorpay focuses 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.
Thousands of clients use its service as it allows an online business to accept, process, and distribute digital payments through various modes like debit cards, credit cards, net banking, UPI, and prepaid digital wallets. It is one of the biggest fintech companies in Bangalore.
3. Upstox
Founder: Ravi Kumar, Kavitha Subramanian and Shrini Viswanath
Founded: 2009
Upstox Logo
Upstox provides financial services such as investments in stocks, mutual funds, derivatives, commodities, ETFs, and digital gold. It ensures full transparency in pricing by offering zero brokerage for equity trades and up to INR 20 per order for intraday, commodities, and currencies.
The founders, Ravi Kumar, Kavita Subramanian, and Srini Vishwanath conceived this idea of making trading and investing easier and cheaper and created Upstox for fellow young Indians. The Mumbai-based company is backed by industry giants like Tiger Global and Ratan Tata and currently has more than 250 employees and the fintech is striving to make trading a second nature for its users.
4. Cred
Founder: Kunal Shah
Founded: 2018
Cred Logo
Cred is a fintech startup founded by Kunal Shah, the founder of FreeCharge. The app aims to make paying credit card bills simpler and rewards you for paying them on time. The app asks for your phone number to check your credit score with Cibil, CRIF and Experian.
5. ETMoney
Founder: Mukesh P Kalra
Founded: 2005
ETMoney Logo
ETMoney is a full-stack investment platform with a wide range of products in the domains of investments, credit cards and loans, insurance, and financial tools. It aims to simplify the financial journey of retail customers.
ETMoney was founded by Mukesh Kalra in 2015. A passionate company that indulges in personal finance, has become the first fintech company in India to introduce Aadhar-based SIP payments. With more than 100 crore bank accounts linked to Aadhar, the company plans to simplify installment payments with Aadhar OTP verifications.
The company has also partnered with Google Pay for a simplified way to invest in Mutual Funds and National Pension System.
Sampad Swain, Akash Gehani and Aditya Sengupta co-founded Instamojo in September 2012. Instamojo started as a solution provider of digital payments which now has progressively grown into a robust online platform for enterprises like micro, small, and medium so that they start, manage, and grow their businesses online.
MojoCapital from Instamojo helps disperse bite-sized short-term credit loans which are worth around $2 million. MojoCapital caters primarily to its merchants on a monthly basis, and it has shown a projected growth of 25% on the month on month basis.
PolicyBazaar is an online insurance aggregator for comparative analysis of products that are offered by various insurers using parameters like price, quality, and key benefits. It helps users compare insurance policies and assists them in selecting the best or the most relevant policy that can be purchased online or offline.
PolicyBazaar was founded by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar in June 2008 in Gurugram. They have raised over $650 million as of 2020. The online platform began as a price-comparison website and an information portal for learning about insurance and related programs; it then expanded to become a marketplace for insurance policies.
PolicyBazaar has tied up with insurance brokers which helps it procure information such as price, benefit, insurance cover, etc. directly from the insurers for the customer to compare. They do not charge anything from the customer for their service. The revenue for the company is generated from the fees charged for the marketing and advertisement stints done by insurance companies on its platform.
MobiKwik is an Indian fintech company that was founded in 2009 by Bipin Preet Singh and Upasana Taku. It is headquartered in Gurugram. MobiKwik is a digital wallet service provider that offers services mobile and online payments, phone and DTH recharge, mobile transfers, online shopping and a lot more.
It allows users to store up to INR 50,000 in a MobiKwik wallet that can be used to recharge mobile, pay bills, and shop across various channels. Their users can also use the partial payment feature for ticket reservations and cash pick-up for bus tickets booking.
MobiKwik’s investors include Sequoia Capital, NET1, GMO Venture Partners to name a few. Post demonetization, MobiKwik has made it free to transfer money from your wallet to your bank account.
Before demonetization, they used to charge 4% for a non-KYC compliant user and 1% fee for a KYC (know your customer) compliant user. They have over 100 million users across India and many more are being added. Non-KYC compliant users can transfer from INR 1000 to INR 20,000 to their bank account. But once your KYC is done, you can store upto INR 1,00,000 in your MobiKwik wallet.
9. ZestMoney
Founders: Lizzie Chapman, Priya Sharma and Ashish Anantharaman
Founded: 2015
Zest Money Logo
Do you want to buy something offline on EMI but don’t own a credit card? Zest Money has a buy now pay later policy and offers an EMI option that you can use to purchase things online or offline from its partner merchants. It is another Bangalore-based startup founded by Lizzie Chapman, Ashish Anantharaman, and Priya Sharma.
10. Lendingkart
Founder: Harshvardhan Lunia and Mukul Sachan
Founded: 2014
Lendingkart Logo
Lendingkart is an online financing company founded by Harshvardhan Lunia and Mukul Sachan in 2014. Lendingkartprovides loans for working capital needs for SMEs (small and medium-sized enterprises); these loans are quick and collateral-free with minimal paperwork.
The company works across1300 cities and has disbused loans over INR 3,500+ crores till date (2020). Aditya Birla Capital, Saama Capital, Mayfield Fund, Bertelsmann India Investments (BII), and Darrin Capital Management are some of its prominent funding partners. In March 2016, Lendingkart entered into a strategic partnership with Mahindra’s SmartShift – a digitally enabled aggregator for cargo owners and transporters.
Lendingkart has access to a huge amount of data from data partners dispersed across the country. These data partners provide Lendingkart with diverse information about the vendor: educational qualification, family background, reputation, competitiveness in the market, etc.
Refrens is fairly new to the fintech industry in India. It was founded by Naman Sarawagi and Mohit Jain in 2019. Refrens provides a payment gateway system for freelancers to send and receive payments smoothly.
It offers free invoicing, payments, and expense management systems. For freelancers, it becomes easy to enable options like adding payment methods, offering discounts, etc. for their clients. It is so easy to use that it is possible to create an invoice in just 30 seconds.
Pine Labs is a Gurugram-based fintech platform that provides PoS (Point of Sale) software solutions for offline retailers and brands. It was founded in 1998 by Lokvir Kapoor, Rajul Garg and Tarun Upaday.
They initially offered a smart card-based payment and loyalty solution for the petroleum sector. It then introduced a PoS machine for offline merchants. Its ‘Plutus PoS’ solution is a cloud-based software that can be integrated with a generic POS terminal to allow retailers to accept debit and credit cards, e-wallets, QR codes, and UPI-based payments.
Pine Labs’ offerings include marketing tools, reporting and analytics, payment gateway API solutions, mobile payment solutions (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; it is present in Malaysia.
13. MoneyTap
Founders: Bala Parthasarathy, Kunal Varma, and Anuj Kacker
Founded: 2015
MoneyTap Logo
MoneyTap is India’s first app-based credit line. It provides you credit and you can repay your credit amount in flexible EMIs of 2 to 36 months. MoneyTap aims to make credit accessible to the Indians who use internet banking.
It uses customers’ details to evaluate the user’s eligibility and decide the credit limit. MoneyTap was launched in 2015 by Bala Parthasarathy, Kunal Verma, and Anuj Kacker.
14. Khatabook
Founders: Ravish Naresh, Dhanesh Kumar, and Jaideep Poonia
Founded: 2017
KhataBook Logo
Founded in October 2018, by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, Jaideep Poonia, and Ravish Naresh, Khatabook is the world’s fastest-growing SaaS company. It has become India’s leading business management app for MSMEs with 20M+ downloads in a remarkably short period of time.
This Bangalore-based mobile app service shares WhatsApp and SMS reminders to users when money is due to be paid or collected. Khatabook enables micro, small and medium merchants to track business transactions safely and securely.
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 INR 1 lakh–INR 1 crore with terms between 1 – 12 months. The offered loans are based on cash flows, expected receivables, financials, CIBIL scores, and bank statements. Individuals can apply online for the loan and once the loan is approved, it is disbursed to their bank account.
If you have ordered from well-reputed corporate customers, you can borrow up to 80% of the value of an outstanding invoice, and repay only after you receive payment from your customer. The company has partnered with startups like Shopclues, Paytm, and Uber.
16. Shiksha Finance
Founders: V L Ramakrishnan and Jacob Abraham
Founded: 2014
Shiksha Finance Logo
Many individuals have the potential to become great students but the exorbitant tuition fees of educational institutions hinder them from pursuing education. Shiksha Finance provides short-term loans to students for their fees. The loan ranges from INR 10,000-INR to 30,050 and must be paid within 6-10 months. For a private school or college, the loan can range from INR 1 lakh-INR 73.5 lakh and can be paid within 6 months to 5 years. It was founded by Jacob Abraham in 2014.
Founded by Chandu Sohoni and Poorna Nayak in 2013, Amigobulls provides solutions to wealth management-related problems. You can get the daily stock analysis in the form of short, personalized videos.
The personalized videos are created automatically using Amigobulls’ technology; thousands of videos can be created in a few minutes. This fintech company offers investment advice and news to stock market investors through a patent-pending video generation technology.
18. KredX
Founders: Manish Kumar and Anurag Jain
Founded: 2015
KredX Logo
KredX isIndia’s first invoice discounting marketplace platform. It 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 low-risk high returns through a unique short-term investment.
Founded by Anurag Jain, the company provides a technological platform that connects investors, both institutional and individual, with high-growth businesses looking for working capital through invoice discounting.
KredX’s objective is to facilitate short-term working capital to the SMEs raised against blue-chip companies to a network of financiers. KredX’s recent acquisition of Hummingbill, a New York-based startup – to strengthen technological capability has assisted the former to progress its growth curve in the lending space.
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 that is one of the four credit bureaus authorized in India by the RBI.
Anyone who needs credit can create a credit profile on CreditMantri’s website to apply for loans and credit card offers based on his or her credit profile. The Equifax score is used by CreditMantri to analyse the individual’s credit profile
Headquartered in Mumbai, Mswipe provides software solutions and payment devices to merchants. Mswipe works with all kinds of bank accounts; hence, merchants don’t have to open a new account for their devices. The company was founded in 2011 by Manish Patel.
21. Financial Software Systems (FSS)
Founders: Nagaraj Mylandla
Founded: 1991
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Financial Software Systems Pvt. Ltd. was founded in 1991 and is a Chennai-based fintech venture that provides electronic payment and financial transaction processing solutions and services globally. Financial Software Systems records all of the financial activities 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 that include systems integration, offshore development, project management and implementation, and 24/7 global helpdesk support services.
22. BankBazaar
Founder: Rati Rajkumar
Founded: 2008
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BankBazaar is a Chennai-based online financial platform founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty for product distribution and comparison analysis. It enables users to buy personal loans, home loans, auto loans, and education 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 application-based commissions from banks. Customers don’t need to pay any charge.
23. Active.Ai
Founder: Ravi Shankar, Parikshit Paspulati, Shankar Narayanan
Founded: 2016
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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 was founded by 3 Indians – Ravishankar, Shankar Narayan, and Parikshit Paspulati in 2016. The main focus of Active.Ai is on the banking sector.
24. Finly
Founder: Vivek Alike Ganapathy
Founded: 2017
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Finly lets companies and startups analyse their expenses. Besides expense management, Finly also eases the process of fund disbursement, vendor payment, and helps with the automation of collection. It builds financial software products to save the companies money and time. It was founded in 2015 by Vivek AG.
25. Ezetap
Founder: Byas Nambisan
Founded: 2011
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Ezetap, co-founded by Abhijit (Bobby) Bose and Bhaktha Keshvachar, 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 to the headphone jack of the device.
Financepeer helps to pay the entire year fees upfront to the School in one installment and collects fees in 3 to 12 monthly installments from parents at 0 Interest and 0 Cost. It is a Google incubated School (K-12) Fee Financing Company.Rohit Gajbhiye, Naveesh Reddy, Sunit Gajbhiye and Debi Prasad Baral launched Financepeer in 2017 to cater to an audience that cannot afford to pay the school fees all at once.
Loanwalle.com was founded by Sachin Mittal in 2015. It deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for. To fulfill the fast money requirements of the customers, the loan approval process is fully automated and is based on an algorithm that assesses the applicant’s creditworthiness.
28. Money View
Founder: Puneet Agarwal and Sanjay Aggarwal
Founded: 2014
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Money View was launched in 2014 by two IIT friends, Sanjay Aggarwal and Puneet Agarwal. Money View is a loan financer, and also helps in planning overall finances. Itcaters for the user with personal finance management, to keep a check on everyday finances and also provides loans ranging from INR 10,000 to 5,00,000 within a day or less. The application provides the user with a view of their bank balance, income spends, and income dues by pulling from their SMSes.The app runs and is updated even without internet connectivity.
29. Cube Wealth
Founder: Satyen Kothari
Founded: 2016
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Cube Wealth was founded by Satyen Kothari in 2016, who had previously founded Citrus Pay. Cube Wealth provides comprehensive portfolio management solutions to help busy professionals achieve their goals through investments.
The app helps individuals to invest in multiple asset classes including equities, mutual funds, P2P lending, gold, and even charitable investing to build a well-rounded portfolio. It is a subscription-based automated wealth technology application that works on the concept of disciplined long-term wealth creation.
Goal Teller founded by Vivek Banka in 2020 is a financial planning platform that allows users to build their own financial plans. It is a fintech startup in the investment planning space and is operating in the B2C space.
31. Kuants
Founders: Ayush Gangwar, Mohit Bansal
Founded: 2017
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Kuants was founded in the last month of 2017, by Ayush Gangwar and Mohit Bansal. Their inspiration for the startup was to ensure that technology never acts as a barrier to a stock trader while exploring the domain of algorithmic trading. Kuants is a Fintech startup based in Gurugram, making algorithmic trading easy for those who cannot code themselves.
Akshat Saxena, Aurko Bhattacharya and Uday Somayajula are the founders of ePayLater. ePayLater provides credit at the point of sale. It offers a simple checkout experience by providing customers with the ability to conclude a transaction with just one click of a button. It is a ‘Buy Now, Pay Later’ solution through which customers can get access to an instant credit limit to make faster purchases.
PayKun was launched by Nikunj Yadav, Prashant Kambad, Vijay Yadav, Deepak Dabhi and Nirav Solanki, who were five friends from Gujarat. It was founded in the year 2018, with the primary intention to introduce ease and integrity into the online payment system. PayKun is an online payment gateway integrator that allows merchants to integrate any payment gateway they prefer. It is an affordable and secure solution for sellers. And what’s more, it does not require the user to have any technical skills to use it.
PaisaDukan was established by Rajiv M Ranjan in 2017 . It is a P2P platform that acts as a mediator between investors and borrowers. The company serves as a digital marketplace to enable borrowers to meet their financial needs, provide investors with a safer and smarter investment option and aid financial inclusion.
35. Cashfree
Founders: Reeju Datta, Akash Sinha
Founded: 2015
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Cashfree, a full-stack payments solution is incubated and backed by PayPal and YCombinator respectively. Cashfree helps global and Indian businesses collect and disburse payments via 100+ payment methods including MasterCard, Visa, RuPay, UPI, NEFT, IMPS, Paytm, and other wallets.
It also claims of being India’s leading API banking platform. Other than payment gateway products, Cashfree has products such as UPI auto pay, Refunds Suite, Auto collect options and Marketplace settlements. Cashfree has integrated with major platforms such as Shopify, Amazon Pay, PayPal, Google Pay, and Ola Money.
36. CoinDCX
Founders: Sumit Gupta, Neeraj Khandelwal
Founded: 2018
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Founded by IIT Bombay alumni Sumit Gupta and Neeraj Khandelwal in April 2018, CoinDCX is a beginner-friendly crypto exchange platform.Investment in cryptocurrency has been made easy by CoinDCX. The platform also enables users to access a wide range of financial products and services backed by insurance protection.
The crypto platform with 1 lakh active users has a more than $40 million trading volume. Backed by hedge fund giant Polychain Capital, the platform offers crypto transactions at no cost to investors. For those who trade, it charges a fee of 0.1%.
The company recently launched CoinDCX Go. This product runs on the 7M framework which studies and analyses the depths of the crypto market and predicts future threats. On this platform, crypto assets are listed with uncompromising listing criteria. The product accommodates currencies like Bitcoin, Ripple, Ethereum, Tron, Bitcoin Cash, Matic, Litecoin, etc.
Easy Home Finance is a housing finance company that offers home loans through a paperless route. The Mumbai-based company was founded by Rohit Chokhani. It is registered under National Housing Bank Act as a housing finance company and aims to tap the market using a paperless experience.
Its products include home loans, home construction/extension loans, loans against property, and loans through Pradhanmantri Awas Yojana. They also have a pre-approved property database for home options and instant loan approvals.
The company, backed by Harbourfront Group, aims to streamline the onboarding, assessment, and management of home loans through an AI-based lending platform. Easy Home Finances is focused on providing home loans to first-time buyers and women who wish to enter the property market and also targets customers in Tier 2 and Tier 3 cities across India. It is also set to launch a Product-as-a-service (PaaS) with co-lenders and other financing companies.
38. Recko
Founder: Saurya Prakash Sinha
Founded: 2017
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Recko is a Bangalore-based fintech startup that is into the reconciliation of companies. It offers financial services to e-commerce companies, banks, and insurance providers who have huge volumes of transactions. It is a third-party transaction layer that ensures authenticity and transparency in all recorded transactions. Recko’s workings mainly rely on AI models to comprehend and collect data, connecting payment gateways, banks, and customer management systems.
Backed by Prime Ventures Partners and several angels, Recko was founded by Suarya Prakash Sinha and Prashant Borde. The fintech company claims to have reconciled accounts worth $5 billion to date and has integrated with big names in the fintech industry such as Myntra, Pharmeasy, Meesho, Dunzo, Townscript, and Grofers.
39. FypMoney
Founder: Kapil Banwari
Founded: 2021
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Owned by Pockket Payment Technologies Ltd, FypMoney is a platform introduced for financial literacy in teenagers. The platform aims to target the age group 11-19 who comprise 15-20% of smartphone users. In a seed funding round, it has raised $2 million from angel investors including Leberatha Kallath, Mukesh Yadav, and Dinesh Nagpal.
FypMoney takes into consideration the concerns of parents with teenagers and has introduced features like instant pocket money transfers, tracking spending patterns with real-time transaction alerts, and setting transaction limits.
As for teenagers, it is equipped with quick transfer options like UPI, referral bonuses, Fyp Debit card, online investments in Mutual funds, savings, and a social community to interact with FypMoney users. The founder, Kapil Banwari believes that this platform will make teenagers aware of financial aspects, get them into a habit of saving and educate them about personal finance.
40. Avail Finance
Founder: Ankush Aggarwal
Founded: 2017
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Avail Finance is a fintech startup based in Bangalore that exclusively focuses on the blue-collar workforce and aims at introducing credit facilities and financial literacy to them since they’re seldom aware of it. It provides them with a neo-banking platform and includes every individual on a credit hunt, under the financial umbrella.
The startup aims to reach that segment in the financial market that is oblivious to credit card penetration, has no credit history, and has a low to almost zero CIBIL score. The platform offers other financial services including savings, insurance, and investment products. Founded in 2017 by Ankush Agrawal and Tushar Mehndiratta, the startup has raised around INR 85 crore in a funding round led by Alpha wave Incubation.
Upwards is a fintech company that offers personal loans up to INR 2 lakhs within 24 hours to salaried individuals with no credit history and whose earning capacity is at least INR 15000 per month. The fintech has a wide range of personal loans that cover weddings, travel, studies, medical emergency, and home renovation. The company charges an interest rate of 18-32% on its financial products.
The Mumbai-based startup is currently active in more than 30 cities including Tier 2 and Tier 3 towns. Founded in 2017 by alumni of IIT Delhi Abhishek Soni and Nimesh Verma, the company has disbursed INR 4 crore since its year of inception and is 40% of its credit demand coming from smaller towns of Karnataka, Rajasthan, and Tamil Nadu.
KreditBee is a personal loan platform for self-employed and salaried professionals where they can avail of a loan starting from INR 1000 to INR 2 Lakhs with minimal paperwork and tenures from two to fifteen months. It offers loans to even those without a credit history. It hosts multiple non-banking financial companies (NBFC) that are licensed by the Reserve Bank of India. This includes KrazyBee Services Pvt Ltd which is a non-deposit financial institution that offers innovative technology and availability of credit.
Founded in May 2018 by a bunch of intellectuals from various IITs across India, KreditBee currently has more than 1200 employees and a user base of 20 million. Through its holding entity Finnov, KreditBee has recently raised $70 million which it says will be utilized towards scaling up the lending portfolio beyond personal loans.
43. Finin
Founders: Suman Gandham and Sudheer Maram
Founded: 2019
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Finin is a fintech startup that has launched itself as a “neobank”, in partnership with SBM bank, a wholly-owned subsidiary of the State Bank of Mauritius in India. It is a platform that focuses on saving rather than lending. The “neobank” has an AI-driven experience for its users which gets insights from your spend-save behaviour. It can be linked to all your bank accounts and keeps a track of your transactions and budgets. Users also receive customized investment options and hyper-personal financial tips that take into consideration your pay cheque, lifestyle, marital status, and more.
Finin users have to rely on SBM branch networks for banking activities and the physical branches which are currently operating in Mumbai, Chennai, Bengaluru, and Hyderabad. Going against the flow, founder and CEO Suman Gandham believes Finin will make more revenue from wealth management services rather than lending services.
Founders: Samant Sikka, Sanjeev Sharma and Dhananjay Singh
Founded: 2016
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Sqrrl is an investment and wealth management platform for young individuals and professionals. The company is registered under AMFI and SEBI and is available in 9 Indian languages. It encourages Indians to save and invest better while guiding them towards building an investment portfolio with baby steps.
The company uses machine learning, AI, and data science to offer one-on-one assistance encouraging users to invest in high-performing mutual funds based on the risks, their goals, and requirements.
Based in Gurgaon, Haryana, Sqrrl has a team of 40 people including the founders namely Dhananjay Singh, Sanjeev Sharma, and Samant Sikka.
45. Moneyfront
Founders: Mohit Gang, Anil Bang, and Puneet Mehta
Founded: 2015
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Moneyfront is a wealth management platform that allows you to invest in funds and keep a track of them. While many other platforms offer the same, Moneyfront uses a comprehensive database, news, and statistics and lays out the best options for its users. It provides model portfolios so that you have more options and you can measure your risk appetite and choose what’s best suited for your goals.
The fintech company tied hands with Niyogin Fintech, which provides collateral-free credit to MSMEs. Reportedly, Niyogin has acquired a 50.1% stake in Moneyfront for INR 12 crore.
Founders: Archit Gupta, Srivatsan Chari, Ankit Solanki, Raja Ram Gupta
Founded: 2011
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ClearTax is a financial services platform that helps individuals, tax experts, SMEs, and enterprises streamline income tax returns, GST, Invoicing, Billing solutions, and more. Cleartax helps businesses save 2-7% of their net GST every month while individuals have saved up to INR 86000 by filing their tax returns through them.
The company recently launched a GST-compliant billing and e-invoicing product called ClearOne. ClearOne is an easy, affordable, and compliance-proof solution for all the challenges faced by SMEs. Founded by Archit Gupta, Srivatsan Chari, and Ankit Solanki, ClearTax is helping millennials pay their own taxes in a simple and hassle-free manner.
47. Groww
Founders: Lalit Keshre, Harsh Jain
Founded: 2016
Groww has become the unicorn in the fintech industry by raising $83 million in a funding round led by Tiger Global. The company has raised $140 million as capital so far. With a freshly acquired unicorn status, Groww is an investment platform that allows individuals to invest and trade in stocks, mutual funds, US stocks, and Gold. it also has fixed deposit options for conventional investors.
Backed by a huge force of investors such as Sequoia Capital India, Ribbit Capital, Y Combinator, Kauffman Fellows, Propel Venture Partners, and Kairos, Groww plans to deploy its funding into introducing financial educational content for its 1.5 crore registered users.
LoanTap is an NBFC registered under RBI that offers flexible personal loans which are EMI-free (partial repayments of principal amounts), and allows personal overdraft and debt consolidation loans that are best suited for your lifestyle and requirements. Whether it’s an upcoming holiday, a wedding, a loan repayment, a new vehicle purchase, or a business loan, LoanTap covers it all.
The Pune-based company recently tied hands with the Bank of Maharashtra into a co-lending agreement. This agreement would help the bank meet its priority lending target through a digital lending platform like LoanTap by avoiding visits to the branch and easier loan disbursals.
49. RevFin
Founder: Sameer Aggarwal
Founded: 2018
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Founded by an alumnus of IIT Kharagpur, Sameer Agarwal, RevFin is a digital lending platform that offers loans through its own NBFC. Its products include regular personal loans and Revloans, which is an unsecured credit limit that a customer can use at any time as per their convenience. RevFin has currently financed E-Rickshaws in several towns across India which include Kolkata, Jhansi, Dehradun, Hisar, and Delhi.
Headquartered in Delhi, RevFin was founded in 2018 and has captured the sector of vehicle loans for three-wheelers and two-wheelers. The fintech is backed by several angel investors including Harsh Jain, Anil Goyal, Anil Lamba, and Krishna B Singh.
50. PayU
Founders: Jose Velez, Martin Schrimpff, Arjan Bakker, Grzegorz Brochocki, Nitin Gupta, Shailaz Nag
Founded: 2002
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PayU is one of the best fintech companies in India that provides a payment gateway and payment solutions for online merchants. The platform provides a seamless experience when users check out a particular website or mobile app. It integrates various gateways such as net banking, Visa and MasterCard, UPI, and wallets.
PayU has integrated with giants like Netflix, Myntra, and Cred with unique payment solutions where customers can choose any payment option on any platform or website. It also enables customers to accept payments outside India from 100-plus countries.
PayU India is the flagship company of Naspers Group, based in London. It has also launched an alternate lending platform called LazyPay to offer credit solutions such as Small ticket credit (Buy now pay later), App-based Loans, and Point of sale credit (Merchant EMI).
Conclusion
Startups work hard on their products, marketing, and other business activities but forget about one crucial aspect: finance. Managing one’s finances is of utmost importance. Business is all about money, you can’t run a business if you don’t think about money. This list of fintech startups in India should help you understand the advancements in the world of Finance and give you an insight into India’s biggest and top fintech to keep an eye out for.
There are more than 2000 fintech startups in India as of 2022.
What are some of the biggest fintech startups in India?
Some of the biggest fintech startups in India are,
Paytm
Cred
Razorpay
Instamojo
Lendingkart
MoneyView
Paykun
PaisaDukan
Mswipe
Kredx
What is FinTech Company India?
Financial technology is abbreviated to FinTech and it comprises companies that use technology to offer financial services. It has emerged as a relatively new industry in India.
What are examples of FinTech?
Some examples of FinTech are mobile banking, mobile payments, trading, cryptocurrency, insurance, trading, and lending to name a few.
Over the last four years, the Indian entrepreneurship ecosystem has risen from 35K startups in 2016 to more than 55K startups in 2020 with more than $48.7 billion being raised during the revealed rounds of investment. As a result of the exponential growth in consumer demand and the increased use of digital goods and services by individuals and firms, more than 15+ unicorns have arisen in India since 2018. The word Soonicorn applies to start-ups that could become Unicorns whereas a unicorn is a startup carrying a value of up to $ 1 billion.
Now let’s take a look at a list of the Soonicorns of India:
MobiKwik is an Indian organization founded in 2009 offering a digital wallet and a mobile payment system. Online wallets may be used for purchases to add money to their clients. The Bank of India reserve approved MobiKwik’s e-wallet to be used by the company in 2013 and began providing customers with small loans for its service in May 2016.
CRED was founded by Kunal Shah in November 2018, after an investment of $1 M in Bangalore, India. CRED is an Indian credit card bill transferring app. CRED has been mentioned among the future unicorns by CB Insights in June 2020.
PayMate provides a cloud-based network for big businesses and SMBs to move from slow, expensive forms, such as cash and checks, to digital payments in real-time. It digitizes the entire payment period to boost overall performance and minimize time, commitment, energy, and costs by more than 50 percent.
BharatPe plans to make the deal via (15-day) deposits due to the dealer commercializing interest. In case of an emergency, dealer partners can, in 15 days from the deal, cancel the settlement by paying a withdrawal charge of 1 percent.
5. Capital Float
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Capital Float was formed in 2013 and became the country’s largest digital lender. SMEs working in sales, trade, and logistics are given working capital loans. They also fund online and offline customer transactions by way of various A-list alliances.
6. Acko
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Acko is an Indian general insurance company that is in the private sector. In line with a digital model, Acko offers a digital forum for all market activities for the company. The business seeks to promote startups as well. Acko expanded the financing of Amazon, Accel Partners, SAIF Partners, and Catamaran Ventures by 274 crores in 2018.
7. Lendingkart
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Lendingkart Finance aims to ensure credit availability for SMEs who either have no or currently lack capital access to credit. The organization plans to pay out loans within 72 hours with limited paperwork. It seeks to transform small business loans by making it easier for small and medium-sized enterprises to access lending. Data security is very important for Lendingkart Community. All the details are kept private.
KhataBook is a smartphone application that helps small business owners and Kirana stores handle their books in India by helping them track the money owing by means of a digital directory. Both data collected on the Khata Book App are kept safely in the maintained database. Password-protected access to the database is tightly restricted. In accordance with technical advances, the security procedures are checked and revised periodically.
9. Fino Paytech
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Fino Paytech is an innovator, industry pioneer, and entrepreneur for organizations such as banks, government, and insurance companies.
They are a corporate and technical banking network in combination with a wide variety of services. They even facilitate end-to-end consumer procurement and maintenance as an alternative banking platform. Innovation has tackled the problems of the serviceability and scalability of existing banking networks.
The goal of Vivriti Capital is to build the largest and most significant financial network service that serves a customer base for institutions, corporations, small businesses, and people lacking efficient access to financial services. Their site CredAvenue is a one-stop solution to prospect, assess, conduct, and track debt. It’s an interactive business debt network.
Soonicorns are tech companies, fintech, or businesses with the potential to become Unicorns in the future.
What is a startup unicorn?
In the venture capital industry, the term unicorn refers to any startup that reaches the valuation of $1 billion. The term was first coined by Aileen Lee, founder of Cowboy ventures when she referred to the 39 startups that had a valuation of over $1 billion as unicorns.
Is there any Unicorn in India?
India now has 37 unicorns, having added 16 to the list in 2020. It stands third in global country rankings, well behind the US and China, but ahead of the UK and Germany.
What is a tech unicorn?
Unicorn is the term used in the venture capital industry to describe a startup company with a value of over $1 billion. Some popular unicorns include Airbnb, Uber, SpaceX, Robinhood, and SoFi.
Conclusion
In 2021 the startups that are performing well and are the most profitable will turn soonicorns. By the market size of these startups, we can expect new startups emerging as unicorns this year. Startups into Fintech, EdTech, and MedTech domains are in much demand due to the Covid-19. There is high demand for these startups and have the potential to grow in the coming days. We are seeing more startups in the field of FinTech. Fintech is the lead because digital payments have profoundly infiltrated metro and Tier 1 cities and now, other financial digital assets, such as finance, insurance, and neobanking, are more likely to become the addressable basis. In particular, lending firms and payments have been the main contributors to our soon-to-be-finished list.
Shubham Kumar
