In recent years, European fintech startups have expanded exponentially. Open banking is one of the main drivers of this development. This will lead to financial services and fintech partners supplying customers throughout Europe with more creative and user-friendly solutions. Government support for the banking and financial industries (fintech) is enormous, not just because of its scale (global funding = $111,8 billion), but also because of technology in part and, in particular, a growth in smartphone connectivity at a pace that remains unimaginable. The survey shows that Fintech adoption is well above the global average of 64% across Europe and has no indicators of slowing down, particularly in the Netherlands, the UK, Germany, Sweden, and Switzerland.
Revolut is a British financial technology company that offers banking services. Send money or divide expenses with families or friends immediately, whether they are on the table or worldwide. With Revolut you can send money overseas in 30+ interbank exchange currencies at a small 0.5% discount per month on anything exceeding £1,000. You can also save money every day by getting rewards. Set goals, receive immediate updates on expenses, and view weekly insights to keep track of your expenses.
Adyen is a Dutch payment firm that helps firms to collect payments on e-commerce, smartphone and point of sale. Foreign credit cards, local cash methods, such as the Brazilian Boleto, and Online banking activities, such as perfect in the Netherlands, are part of the payment mechanism. The use of cards, digital payments, and more are supported on every digital platform or device. Each checkout is completely configured and designed for additional conversions.
Many of the most forward-looking organizations in the world use Checkout’s unified system to shape their plans. They have a provision for a quicker, smoother, and more connected payment experience across countries with their linked payment technologies and payment options. In order to maximize payment flows and release complete value from any process, they give companies the data to identify patterns and make wise decisions.
Transferwise was set up in 2010, in order to achieve inexpensive, equal, and quick foreign money transfers. However, there is more to the story, as in numerous pioneering companies bank accounts exist worldwide, TransferWise gives the same services and also there is no extra overseas processing fees. Through Transferwise you can transfer or recieve money locally or internationally.
With a value of 2.8 billion USD OakNorth is the precious fintech in Europe. Without a credit default, it has lent $4 trillion to British firms. With its collaborators, OakNorth Analytical Intelligence has launched its data and technology network successfully in 8 new foreign markets. OakNorth has a good variety of savings accounts and has featured consistently in the top transactions since its introduction. In a brief amount of time, they are priced to adjust so that they can advise savers always to act fast to obtain a product if they see the appealing cost.
The N26 bank account is a free “deposit account,” opened directly from your phone or tablet in less than eight minutes. You can deposit cash or transfer cash from a separate account as many times as you want. You can store and spend money in your daily bank account as well.
Founder: Ric Larcheveque, Nicolas Bacca, Joel Pobeda, and Thomas France
Ledger Logo
At Ledger, they establish the highest degree of security for crypto-assets in hardware wallet technology. Their products integrate a Protected Element with a proprietary OS to protect your property. Ledger wallets allow you to own and manage your private info.
Rapyd lets corporations to give services with currency exchange round the world. They are designing a technology that reduces cross-boundary trading history complications while offering experience in local payments. Their fintech software for processing, billing and issuing, regional fintech, and payments capabilities is used by multinational e-commerce organizations, tech companies, industries, and financial institutions to easy integrable with their applications.
Qonto is a strategic solution for corporate finance. Qonto offers all the resources needed to handle the finances of a company. The tools range from dedicated accounting entry, integrations with over 80 accounting applications, and cost and reception management in real-time with categorized and personalized transactions. This involves custom marks. By linking your funds to your deposits, you can focus on your core business. For quick and stable payments you can link your Qonto wallet with Apple Pay. You can also send and receive international payments with Qonto.
Nexi
Founded: 2017
Nexi Logo
Nexi is a leading company in Italy, which involves issuing, selling, automation, interbank corporate banking, confirmation and payment services in a range of sectors. In the form of card payment acceptance technologies, cash transactions between businesses and private entities, and the management of increasingly complex technological facilities, including corporate banking, Nexi offers the most innovative payment options for banks and insurance agencies.
Conclusion
Since smaller and younger firms are not running at all, they are willing to adapt at an unparalleled price to the consumers’ wants and needs, which existing banks are battling for. The coordination of these emerging innovations, existing business and industry regulators (politicians) will in future decide landscape health overall. The landscape and digital experience that we have now will be very diverse.
FAQs
what are the best fintech companies in Europe?
Nexi
Revolut
Adyen
Checkout
Transferwise
N26
Qonto
OakNorth
Ledger
Rapyd
Which place is most attractive for a fintech startup in Europe?
The UK is one of the most attractive destinations for FinTech startups in Europe, and investments in the sector grew by 9.1 billion this year, a 24% increase from the same period in 2021.
How many fintech startups are there in the UK?
The FinTech sector in the UK is comprised of over 1,600 firms, a number that is projected to double by 2030.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Open.
Time and again, online services have been proving to be beneficial for many people. To ponder, is there anything left that is not available on the internet or cannot be utilized online? The answer is no. Yes, because we are living in the digital world.
Whenever we have something do to with banks, we always go to its nearest branch to get the work done, right? What if the same services can be availed through an online platform? That’s right, it can be operated digitally, and that is called a neo-banking platform.
Open is Asia’s first neo-banking platform based in Bengaluru. Founded in 2017, the company offers banking services for SMEs and startups under RBI’s regulations and policies.
Here is the story of Open which will tell you about its founders, how it works, its revenue and growth, its business model, funding and investors, and more.
Open – Company Highlights
Headquarters
Bengaluru, India
Legal name
Open Financial Technologies Pvt. Ltd.
Sector
Financial Services
Founder
Anish Achuthan, Mabel Chacko, Deena Jacob and Ajeesh Achuthan
As a neo-banking platform, Open provides a business account backed by fellow banks that allows small company owners to accept payments, auto-reconcile them, and make smooth disbursements. It offers a VISA card that permits to operate the banking activities in one place.
Not to get confused, Open is a digital technology platform, and not a bank or has any license related to banking. All the services such as VISA Cars, business current accounts, loans, and other related financial services offered by Open are provided by RBI-licensed banks and financial institutions.
Open is India’s 100th Unicorn startup as it had a valuation of more than $1 billion. The company has helped more than 25 lakh businesses just in India.
Unlike a traditional bank account, Open neobank’s platform has accounts that are designed to cater to the needs of small-scale businesses. It also serves freelancers, startups, developers, etc.
The intelligent and effective features of Open business accounts help any business to have a seamless and hassle-free banking experience.
Businesses can have better results with Open’s features like Collect Payments, Automate Accounting, Expense Management, Send Payouts, and Even integrate banking into their business workflow through powerful APIs. Along with these features, it offers tools to easily track and collect payments.
Through Open’s banking platform, a business can benefit in multiple ways. For instance, a business can directly make payments from its account without adding beneficiaries. It also gives the liberty to have separate personal & business spending.
Banking companies like Yes Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Smart Banking by SBM Bank, etc are partners of Open. The company boasts of empowering around 50,000 new SMEs and startups every month.
Open – Industry details
The financial services industry is one of the most important industries because it provides various offerings within the financial sector. The Indian financial sector has experienced tremendous growth over the last few years.
The worldwide financial services industry was predicted to develop at a compound annual growth rate (CAGR) of 10.8% from $23,319.52 billion in 2021 to $25,839.35 billion in 2022.
Open – Founders
Anish Achuthan, Mabel Chacko, Deena Jacob and Ajeesh Achuthan are the founders of Open.
Anish Achuthan is also the CEO of Open Financial Technologies. He has worked in the financial business for over 17 years. Other than Open, he co-founded Zwitch, which is India’s first developer-focused payment platform, in 2013, which was eventually bought by Citrus Payments. Anish was also a founding member of PayU India, serving as Vice President (New Initiatives) and business head (Payu Money- SME). The first company founded by him was Ifuturz Technologies, an internet & wireless value-added service provider.
Deena Jacob
Deena Jacob started her career as an Assistant Manager at Deloitte & Touche. She has an experience of more than 15 years of working in different roles in areas such as finance operations, purchase operations, HR and performance management systems, business strategy, financial planning & analysis, treasury, tax, pricing, legal, and compliance in companies like – ICICI Bank, Ernst & Young GSS, Aditya Birla Minacs, etc. Deena is presently the CFO at Open. She is the recipient of the CIMA Most Influential CFOs award in 2016 and the CFONEXT 100 in 2013, recognizing the top 100 finance executives in India, and being named to CFO India’s top 100 CFO roll of honor in the category of management controls in 2017.
Mabel Chacko
Mabel Chacko has a strong passion for startups and entrepreneurship and has over 15 years of experience in the field of financial technology space. Before, founding Open, she played a key role in starting many other companies. The first company co-founded by her is Touch2pay in 2006, which was a biometric payment start-up that worked in the area of financial inclusion in the remote villages of Gujarat. Mabel has worked in companies like Citrus Payment Solutions Pvt. Ltd and PayU. She graduated from IIM Bengaluru. Mabel Chacko was named “Startup Leader of the Year” in 2019 by MEITY and Nasscom, as well as being recognized in the financial field.
Ajeesh Achuthan
After graduating from the University of Kerala with a Bachelor’s degree in Electrical and Electronics Engineering, Ajeesh Achuthan has been listed in Forbes 30 Under 30. He is presently the CTO of Open Financial Technologies Pvt. Ltd. Ajeesh co-founded his first company called InLoc8, which was an indoor location-based ad-tech platform. He has been associated with companies like PayU and Citrus Payment Solutions Pvt. Ltd.
Open – Mission and Vision
Open’s mission statement is, “To deliver a truly seamless business banking experience and make managing finances a breeze.”
Open – Business & Revenue Model
Open operates on a dual business model – B2B and B2C model.
The company’s business operates on a neo-banking platform that offers various banking and financial services to small businesses or startups. Currently, Open serves more than 15,00,000 SMEs and processes $24 Billion in transactions annually. With the exception of assisting businesses in properly managing their client’s money, the platform also provides APIs for developers to incorporate banking and payments into their company activities.
It offers various products and solutions like – Current Accounts, Payment Gateway Solutions, Business Credit Cards, Corporate Cards, Accounting Automation Solutions, and Virtual Cards to manage online subscriptions, UPI Autopay, Cash Management Services, Invoice Management Systems, and Simplified Payouts. The latest addition to these services, Open has also started offering an integrated payroll system for companies to manage their payroll and TDS payments in just a few clicks without much hassle.
Open – Revenue Growth
The company reported having generated sales revenue of Rs 5.6 crores in FY21. The approximate revenue Open generates on a yearly basis is around $135.8 million.
Open – Funding and Investors
Over the course of eight rounds of investment, Open has raised a total of $190.8 million of funds. Their most recent funding came in the form of a Series D round on May 2, 2022. So far, 18 investors have contributed to the funding of Open. The most recent investors are Temasek Holdings and 3one4 Capital. A few other investors also include such as SBI investment, Google, Recruit, Bettercapital Angelist Syndicate, Tanglin Ventures,Tiger Global Management, and IIFL Finance.
Here are the details of funding of Open:
Date
Funding Round
Funding Amount
Investors
May 2, 2022
SERIES D
$50 million
–
September 9, 2021
SERIES C
$100 million
Temasek Holdings
June 15, 2021
Debt Financing
₹250 million
Trifecta Capital Advisors
June 1, 2019
SERIES B
$30 million
–
February 12, 2019
SERIES A
$5 million
3one4 Capital, BEENEXT, Speedinvest
May 17, 2018
Seed Round
$2 million
Unicorn India Ventures
December 27, 2017
Pre Seed Round
$150K
ISME ACE – FinTech Accelerator
July 13, 2017
Angel Round
$250K
Amrish Rau, Jitendra Gupta
Open – Mergers and Acquisitions
Open has bought two companies. The details are:
Date
Organization Name
Amount
December 14, 2021
Finin
$10 million
February 18, 2021
Optotax
$5 million
Open – Partners
Open is the official digital banking partner of three IPL Teams – Royal Challengers Bangalore, Kolkata Knight Riders, and Sunrisers Hyderabad.
Open – Awards and Achievements
The awards and achievements of Open Financial Technologies are:
Open was the winner of the Startup of the Year Award at the Dhanam Business Summit and Award Nite 2022.
Open is India’s 100th unicorn startup company
Open is the world’s largest SME neo-banking platform
Open has been featured in Leading BFSI Startup 2021, Potential BFSI unicorns, and List of Startups with the most M&A deals in 2021.
We are living in an era where fintech is taking over the world. Technology has always given us a revolutionary form in every sector, now it is the turn for fintech. India has become a hub for startups. More and more people are showing their interest in being an entrepreneur. Fintech startups are showing immense growth in the country and as of now, India has over 2,100 Fintech companies. As per reports, by 2025 the fintech market in India is expected to reach $150-160 billion.
Now, any kind of business needs funds to function, without funds, the survival of a business is not possible. The fintech industry is booming with new business ideas and opportunities alike. Now Fintech startups are experiencing growth and one of the prime reasons is the investors. They are providing these startups with the required funds that their business needs. In this article, we will talk about the different investors in India that invest in fintech startups. So, without any further ado, let’s get started.
“FinTech is not only an enabler but the driving engine” -Pierre Gramegna
How Fintech Founders are Planning to Dominate the Indian Bond Market?
Elevation Capital which is formerly known as SAIF Partners is a venture capital firm known for investing in some of the most popular startups and is one of the biggest investors in India. The company was founded in the year 2002 by Ravi Adusumalli and since then it has never looked back and provided support to some of the biggest fintech startups in India. Some of the popular Indian fintech startups that have received funding from this venture capital firm are PayTm, FamPay, Uni, Jodo Anthem, Aye Finance, Acko, and more.
This Mumbai-based investment firm, founded in 2010 has been showing its grasp by investing in some of the seed-stage and early-seed-stage startups from all sectors of business. The venture capital firm has participated in more than 175 funding deals. Some of the Indian fintech companies it has invested in areInstamojo, Turtlemint, Slice, Zopper, Kaleidofin, Unicoin, smallcase, and more. Blume Ventures is one of the most popular venture capital firms in India that has generously invested in some of the most popular fintechs in India.
Better Capital is founded by Vaibhav Domkundwar and the firm is focused on building and investing in promising businesses. This India-based, venture capital firm has been showing its interest in fintech startups from the very beginning. Better Capital’s investment portfolio includes more than 200 companies among which 40 are related to fintech. The venture capital firm has invested in some of the popular fintech startups like Rupeek, Open, Slice, M2P, Jupiter, Rupify and others.
Kalaari Capital is a popular Indian Venture Capital firm that is founded by a woman, Vani Kola. The headquarters of the Kalaari Capital is situated in Bengaluru. The investment firm founded in 2006 mainly looks for promising and early seed-stage startups from multiple sectors to invest in. Kalaari Capital has invested in the likes of Threedots, Upstox, Toffee Insurance, AffordPlan, WeRize and other fintech startups.
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The venture capital firm mainly focuses on early-stage businesses and invests in them. The company focuses on multiple sectors including Fintech, Edtech, b2b sectors dealing with fintech, Health-tech, SaaS, consumer brands and others. The headquarters of the company is situated in Mumbai. The company has invested in more than 70 deals and among them, 9 are related to fintech startups. Some of the popular fintech startups that the venture has invested in areLendingkart, LoanTap, Upwards, Propelld, and more.
Prime Venture Partners
Founder – Amit Somani, Sanjay Swamy and Shripati Acharya
Prime Venture Partners – Fintech Investors in India
Prime Venture Partners was founded in the year 2011 and since then it has funded many fintech startups. The company was founded by Amit Somani, Sanjay Swamy and Shripati Acharya and the headquarters is situated in Bengaluru. The company has also invested in the sectors of Edtech, SaaS, and health care. Some of the major fintech startups that Prime Venture Partners have invested inareNiyo, AffordPlan, KredX, Knight FinTech, and more.
Pravega Ventures
Founder – Mukul Singhal, Rohit Jain and Vinay Menon
Another prominent fintech investor in India on the list is Pravega Ventures, founded by Mukul Singhal, Rohit Jain and Vinay Menon. The headquarters of the company is situated in Delhi. Pravega Ventures has contributed to more than 26 funding deals till now. The venture capital firm focuses on tech-related startups which include fintech as well. It has invested in fintech startups like ePayLater, Flexmoney, Mintoak, MyShubhLife, and more.
Titan Capital
Founder – Kunal Bahl and Rohit Bansal Founded – 2015 Investment Portfolio – LogiPe, Jupiter, Credgencies, Razorpay, Tinkerr, Astu Credit
Titan Capital – Fintech Investors in India
Titan Capital is a venture capital firm whose headquarters is situated in Gurugram. The most interesting thing is that the firm is founded by Kunal Bahl and Rohit Bansal who are the founders of Snapdeal. The firm focuses on funding seed-stage and pre-seed-stage startups. It was founded in the year 2015 and since then Titan Capital has participated in many funding deals related to different sectors of startups. Titan Capital has invested in fintech startups like LogiPe, Jupiter, Credgencies, Razorpay, Tinkerr, Astu Credit, and more.
For any kind of business, investment is necessary. Investors willingly provide businesses that they deem to be potential with the needed funds. Fintech startups are growing in numbers in India, and it seems like it’s just the start of the real game. Naturally, investors are also looking to invest in fintech startups as financial services have become an important need and the market is growing quite fast. With time, many other venture capital firms will also start investing generously in fintech startups.
FAQs
What is Fintech?
Financial technology is abbreviated to FinTech and it comprises companies that use technology to offer financial services.
How many fintech startups are there in India?
There are more than 2100 fintech startups in India as of 2022.
Fintech or financial technology in the last decade has been one of the world’s most promising sectors. FinTech has changed the way finances are conducted with mobile banking, investing, and blockchain apps. According to the Modern Knowledge World, the centerpiece of this technology trend is the United States where 1,491 startups and $58,5 billion invested in the sector.
Yet banks are not the only financial institutions that have changed technologies. Digital financial access is embedded in entire markets, including digital loans and mobile stock systems, e-commerce payment networks, and digital currency exchanges.
In this article, we will talk about some of the top Fintech startups in the USA. So, let’s get started.
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Fintech means Finance + Technology which refers to the amalgamation of both into software that seeks to improve and automate the delivery and use of financial services. Fintech defines any business offering financial services through software or other technologies, from smartphones to cryptocurrency payment applications.
Fintech firms have changed nearly every part of the finance sector in recent years. Ten years earlier, individuals had to visit a branch or bank to apply for a deposit, a credit or to transfer funds literally from one bank to another. At present, Fintech has made it possible, without having to ever step into a bank to spend, borrow, save, and move funds through online and mobile services. Although conventional institutions are picking up technologies from fintech steadily.
Evolution of Fintech in the USA
Fintech was even longer than most people believe. Though Fintech’s current version helps you to pay for a coffee cup with a smartphone app, financial infrastructure history goes back to the first credit cards accepted by the public at the end of the 1950s.
Financial technologies developed and implemented many significant milestones in the mass market after the credit card, such as ATMs, Electronic Shares, Mainframe Bank computers, and internet stock investment. Many modern technologies improved the financial system that most people used, but had to think seldom about every day.
Today, solutions from the Fintech industry challenge existing banking infrastructure, for example by using a payment app on the mobile wallet, rather than the carriage of physical credit cards in a physical wallet.
Fintech’s various markets have been revolutionized, particularly in the financial, commercial, insurance, and risk management industries. Fintech firms include startups, technology companies, and existing financial institutions leveraging digital innovations such as big data and artificial intelligence to enhance financial services usability and performance, blockchain, and edge computing.
List of Top Fintech Startups in the USA
Stripe
Founder – Patrick and John Collison
Founded – 2010
Stripe Logo | Top Fintech Startup in the USA
Stripe is an Irish-American financial service and SaaS company founded by Patrick and John Collison. Stripe provides payment infrastructure for businesses of all sizes from startups to large enterprises that use Stripe’s software, and APIs to accept payments, send payouts, and manage their businesses online.
Zoom, Shopify, and Amazon are some of their clients. Stripe claims to be the world’s most powerful and end-to-end API. In 2019, Stripe launched a new corporate credit card and small business loans, which are automatically repaid from payments it processes for borrowers.
Chime
Founder – Chris Britt
Founded – 2012
Chime Logo | Top Fintech Startup in the USA
An increasing crowd of startups bets on your smartphone for banking. Chime, headquartered in San Francisco, has experienced its sales explosion over the past year and provides a debit card with no annual or overdraft charge. According to a person familiar with the topic, it is set to hit almost $200 million in 2019, a fourfold increase over 2018. With many significant tactics, Chime has drawn 5 million clients – or about 3.3 million users, based on an annual average of 1.5 accounts per client. Chime allows you to pay for a direct deposit to control the main functionality.
Plaid
Founder – Zach Perret and William Hockey
Founded – 2013
Plaid Logo | Top Fintech Startup in the USA
Plaid was founded by Zach Perret and William Hockey. Plaid provides a simple front-end module that streamlines the onboarding experience. It can be implemented with 2-3 lines of coding. Plaid connects payment apps like Square Cash and personal finance apps like Acorns to users’ bank accounts to transfer and track funds. American Express, Venmo, Coinbase, and Betterment are some of their clients.
SoFi
Founder – Mike Cagney and Dan Macklin
Founded – 2011
SoFi Logo | Top Fintech Startup in the USA
SoFi began out as a small business with just one commodity by launching a fintech service mainly for refinancing student loans. The organization sells several items today, but refinancing student loans remains its flagship commodity. SoFi is a value-driven organization with a task to help our members earn a living. We develop new financial goods and services that can enable customers to borrow, save, buy, save and safeguard their cash more, gain financial freedom, and meet their ambitions—from homeownership to pension plans, to paying student loans, and more.
Coinbase
Founder – Brian Armstrong and Fred Ehrsam
Founded – 2012
Coinbase Logo | Top Fintech Startup in the USA
CoinBase has become a regular on-ramp for new crypto-investors as the leading mainstream cryptocurrency exchange in the United States. Coinbase provides a broad range of items, including cryptocurrency investment, an integrated trade network, institutional custody accounts, a retail investment wallet, and a secure U.S. dollar coin. Coinbase has taken the lead in offering crypto custody services to organizations since having developed its position as a stable and regulatory crypto-exchange and a personal wallet and new currencies tailored to cater to those wanting more anonymity. The company has become a pioneer in the crypto industry.
Ripple
Founder – Arthur Britto, Jed McCaleb and Chris Larsen
Founded – 2012
Ripple Logo | Top Fintech Startup in the USA
Ripple is both a peer-to-peer (RippleNet) and a digital currency transferrer (ripple XRP). The platform itself is a protocol for open-source transactions between two parties. All currencies, such as sterling currencies, bitcoins, and air miles, among others, can be traded on the site. In 2019, XRP sold $500 million to MoneyGram, using sales to raise and invest up to $50 million, currently using XRP in 10% of its Mexico purchases across borders.
Toast, Inc
Founder – Steve Fredette, Aman Narang and Jon Grimm
Founded – 2012
Toast, Inc. Logo | Top Fintech Startup in the USA
Toast, Inc. is a Boston, Massachusetts-based cloud restaurant tech firm. Toast, Inc. was one of the leading technology names when the calendar was turned towards 2020. In the secondary markets, shareholdings of the private enterprise that produces restaurant apps were in strong demand. In mid-February, current investors contributed about $5 trillion in investment, almost double the previous year.
Spur
Founder – Glenn Clayton
Founded – 2017
Spur Logo | Top Fintech Startup in the USA
Spur simplifies human capital by leveraging a digital interface to provide embedded financial services on an hourly basis for its staff. Your business plan saves time and resources and allows staff to improve their financial status. Spur was developed by companies who want to take up the responsibility of job management less time and more time for their enterprises, their clients, and their hourly employees.
Credit Karma
Founder – Kenneth Lin
Founded – 2007
Credit Karma Logo | Top Fintech Startup in the USA
Credit Karma is known best for its free credit and loan reports. It is however a platform that provides its customers with the ability to create a stronger financial future. If you wish to use Credit Karma you should give your name and the last four digits of your Social Security number. You should have simple personal information. Credit Karma can then view your loan report, and collect and make it available to you with your consent. For users who utilize credit card reviews, personal, home-and-auto loans, or auto insurance, Credit Karma earns a big reference fee.
Opendoor
Founder – Eric Wu, In Wong and Keith Rabois
Founded – 2014
Opendoor Logo | Top Fintech Startup in the USA
Home sellers in 21 cities can submit all-cash deals online from Opendoor and collect offers within 24 hours. The application initiated last year helps customers to arrange their own guided tours and deliver houses to sell in six cities, Dallas and Phoenix included. You only present details and pictures of your home through their website to sell your home with Opendoor. All these advantages Opendoor especially apply to veterans, openings, relocators, or people who have to sell their homes quickly. Opendoor also appreciates the ease of online and straightforward deals and costs for the youngest generation.
Root
Founder – Alex Timm and Dan Manges
Founded – 2015
Root Logo | Top Fintech Startup in the USA
Founded by Alex Timm and Dan Manges, Root raised $100 Billion for a $1 Billion valuation in 2018 and entered the unicorn club. Root provides car insurance to drivers. Root qualifies customers and sets their rates by first monitoring their driving with a smartphone app measuring 200 variables. After monitoring they provide a quote and allow their customers to change policy. Last year, Root brought claims processing in-house and expanded into renters’ insurance, offering to cover property whether stolen from a customer’s car, apartment, or hotel room.
Paydiant
Founder – Kevin Laracey, Chris Gardner and Joe Paratore
Founded – 2010
Paydiant Logo | Top Fintech Startup in the USA
Paydiant, Inc. is a PayPal-owned financial technology agency. It offers cloud-based services for supermarkets, insurers, point of sale, and ATM vendors. The enterprise is located in Auburndale, Massachusetts, and was founded in 2010. The North Bridge Investment Partners and General Catalyst Partners funded Paydiant for $ 7.6 million in 2011. In 2012 and 2013 Paydiant earned $12 million and $15 million in grants.
Kraken
Founder – Jesse Powell
Founded – 2011
Kraken Logo | Top Fintech Startup in the USA
Kraken was founded by Jesse Powell in the year 2011. This US fintech startup deals with the trading of cryptocurrency. It is a big marketplace where buyers, sellers and traders gather together for exchanging all kinds of digital assets. The platform has over 9 million customers from over 190 countries. The headquarters of the company is situated in California, The United States of America. Kraken also has released an app for its international customers in 2021.
Robinhood
Founder – Vladimir Tenev and Baiju Bhatt
Founded – 2013
Robinhood Logo | Top Fintech Startup in the USA
Robinhood is a fintech company that provides an online platform where you can invest and trade without giving any commissions. The company was founded by Vladimir Tenev and Baiju Bhatt in the year 2013. The company’s aim is to make investing familiar and easy for everyone. The headquarters of the company is situated in California, The United States of America.
Brex
Founder – Henrique Duburgras and Pedro Franceschi
Founded – 2017
Brex Logo | Top Fintech Startup in the USA
This fintech company mainly deals with technology companies and provides them with business credit cards and accounts for cash management. The company was founded in the year 2017 by Henrique Duburgras and Pedro Franceschi. The company also offers financial management tools to the business of its customers. The headquarters of the company is situated in California, the United States of America.
Conclusion
During the COVID–19 pandemic, particularly in emerging markets, the Fintech industry continued to help expand access to financial services with strong growth in digital financial services of all kinds. For poverty reduction and economic development, access to quality financial resources is important. The access and use of basic financial resources for poor people, in particular women, will increase wealth, strengthen resilience, and better their lives. Fintech developments aim to lower the costs of service supply, enable more customers to be served and reduce the need for face-to-face contact, critical to the pandemic’s continued economic activity.
FAQs
How does technology help finance?
The impact of technology on financial services allows the customer to avail of easy digital transactions.
How does technology affect the financial industry?
The arrival of smart analytics helps the financial industry to understand its customer better and provide services accordingly.
What are the new financial technologies?
Blockchain, Robotics, Artificial Intelligence, Cryptocurrency, and many more.
Is Chime a legit company?
Yes as they’re FDIC insured, so it’s a safe place to keep your money.
What are the top Fintech companies?
Square, PayPal, Goldman Sachs, Green Dot, MercadoLibre, and many more.
Do FinTech companies pay well?
Yes, the USA is the top earner making $169,000 annually.
Is Fintech a good career?
Fintech would be considered a good career opportunity for people who are seeking to build their career in the field of finance domain.
Which is the largest Fintech company in the world?
Ant Financial.
How do banks use Fintech?
Banks are using fintech technology in the form of mobile banking apps.
What are Fintech tools?
Artificial Intelligence, machine learning, mobile computing, and more enable borrowers to access funding.
Cred is a popular fintech company founded by Kunal Shah in 2018. It is a reward-based credit card payments startup. Recently, Cred raised $80 million in its latest funding round at a $6.4 billion valuation. Even after making a loss of Rs 524 crore in FY21 why is this company getting so many investors? Is Cred more than just a credit card payment app?
To find answers to these questions let’s see what acquisitions Cred has made in recent times. This will give us a clear idea of the future plans of Cred.
In October 2021, Cred acquired HipBar, an alcohol delivery and payment startup. Cred was interested in this deal because HipBar has a prepaid payment instrument license (PPI).
Now, what is PPI? It is a prepaid payment instrument that allows the payment of goods and services, including fund transfers against the value stored on the prepaid card. RBI has issued this license to only 37 firms in the country.
Using the PPI licence, Cred can issue cash vouchers and prepaid cards and can facilitate digital wallets for the Cred community.
Cred’s holding firm Dreamplug Technologies has held the share capital of Prasanna Natarajan, founder and CEO of HipBar and Rajalakshmi Natarajan, co-founder and director of HipBar.
Kunal Shah and his brother Rohan Shah have joined the board of HipBar as directors. Rajalakshmi has resigned from the company. Although Prasanna is still a director.
With this acquisition, Cred will now directly give cashback to the user’s wallet instead of their bank accounts. Users can then use the wallet to pay credit card bills and purchase products from its merchant partners.
This is a smart strategy by the company to make the customers stay connected with their ecosystem.
“It appears to be a smart move as the wallet would enable CRED to drive repeat transactions through its own payment instrument,” said one of the entrepreneurs who doesn’t want his name mentioned in the article.
Parfait Finance and Investment
In November 2021 Kunal Shah acquired a non-banking finance company, Parfait Finance and Investment. RBI has approved this acquisition and it will help the company to extend its lending services to its users.
This acquisition is part of Kunal Shah’s plans to provide a range of financial services to its exclusive Cred community. The company is already providing loans through a partnership with IDFC First Bank.
The company has also launched Cred Mint by partnering with LiquiLoans, an RBI-registered P2P non-banking lender. Cred Mint allows users to lend money to other Cred users.
The company has also applied for a payments aggregator license. Using this license Cred can process the payment of merchants with consumers online. The merchants can accept payments in the form of debit cards, credit cards, e-wallets, or bank transfers.
The payments aggregator license will help Cred to enable e-commerce on its platform.
Happay
Happay Logo
In December 2021, Cred acquired Happay, a corporate expense management platform, in a cash-and-stock deal at a valuation of $180 million.
Happay is a business expense, payments and travel management platform that manages work-related expenses for over 1 million users globally.
This deal allows Happay to work as a separate company but its employees will work closely with Cred to help the company scale its business and add new financial services for the Cred users.
The 230 member team of Happay will get all the benefits that the employees of Cred get, including its ESOP program.
“The move will bring in synergies between Cred, the majority of whose members are professionals who use it to manage personal payments across multiple credit cards, and Happay, the only unified platform for business expenses, payments, and travel bookings,” a statement by Cred said.
Happay’s in-house payments system will help the Cred users to manage their expenses on their credit cards.
“With professional expenses forming a significant portion of credit card spends, bringing professional expense management into the Cred ecosystem is a natural extension of our proposition,” Kunal Shah said.
Conclusion
As you can see Kunal Shah is making Cred future ready. The company is unveiling multiple revenue verticals in the form of house rental payments, lending and wallet payment business along with e-commerce.
These acquisitions show us that Cred in the future might become a banking institution for its exclusive users. It will make the platform an irreversible ecosystem for its exclusive Cred community.
FAQs
How many startups Cred has acquired?
In total, Cred has acquired 3 startups. HipBar, which is an alcohol delivery and payment startup, Parfait Finance and Investment, which is a non-banking finance company and Happay, is a corporate expense management platform which will allow users to manage their expenses on their credit cards using the Cred app.
Is Cred approved by RBI?
The services that Cred offers to its users do not require the approval of RBI. The credit score of the users is verified by a credit rating agency which is also authorized by the RBI.
Is Cred a unicorn startup?
Cred entered the unicorn club in 2021 after raising $215 million in funding, at a post-money valuation of $2.2 billion.
The Pink City of India and the capital of Rajasthan is famous for its forts, and markets, and I can’t forget to mention the celebs’ favourite “Annu Mobile Paan Bhandar”.But besides these, Jaipur is becoming famous for one more factor, it is in the Startup industry. These are the list of startup companies in Jaipur that are going to be successful in the future. Let’s have a look into it.
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CarDekho was founded in 2008. CarDekho helps users buy cars that are right for them. It gives rich automotive content such as expert reviews, detailed specs and prices, comparisons as well as videos and pictures of all car brands and models available in India on its website and app.
CarDekho has tie-ups with many auto manufacturers, more than 4000 car dealers and numerous financial institutions to facilitate the purchase of vehicles. The company has expanded to Southeast Asia with the launch of Zigwheels.ph, Zigwheels.my and Oto.com. It also has a presence in the UAE with Zigwheels.ae
CarDekho has received a total of $497.5 million in funding to date. Its investors include Google Capital, Tybourne Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata, and Times Internet.
2. Voylla
Founder: Vishwas Shringi & Jagrati Shringi
Founded: 2011
Industry: Jewelry Portal
Voylla Website
Voylla is a fashion jewellery brand based in Jaipur that was founded in 2011. It has a robust online presence and an expansive retail presence of 250+ Stores across India. Voylla started operations in 2012 in Bengaluru and then shifted its base to Jaipur in 2013, and started selling men’s accessories from its stores in 2015.
Voylla had raised a total funding of USD 15.5 million as of 2022. The company raised funding from a private equity firm, Peepul Capital last year. Prior to that, the company had raised two rounds of funds in 2012 and 2013 from Snow Leopard Technology Ventures.
3. Tax2Win
Founder: Abhishek Soni & Vertika Kedia
Founded: 2015
Industry: Fintech
Tax2Win Website
Tax2Win is the startup working to help other startups grow. Tax2Win can assist in all tax-related issues. They can handle everything related to tax on behalf of the firm. The startups don’t have to worry about ITR. They also provide CAs to assist you in filing ITR, if you wish to. Other than that, they have various kinds of financial tools available on their website. The company was acquired by Fidom in 2021.
Tax2Win was founded by Abhishek Soni and Vertika Kedia. Both the founders are Chartered Accountants. The idea of Tax2Win came to Abhishek’s mind when he used to travel a lot in shared cabs and people used to ask if he can file their returns. The company raised total funding of $1 million as of 2022.
Instacash is a website where people can sell their old phones. The company provide home pick-up service and a good price on the phone. They use an algorithm to determine the price of the device the user is selling.
The main factors are the market value and the current condition of the phone. After buying from the general public, Instacash then wipes out the data of the phone and sells it to further dealers who then sell it to people who are looking to buy second-hand phones.
Instacash was founded by Prateek Goel in 2017. Before starting Instacash, Prateek founded Zerowaste and co-founded Teramatrix and Codescape.
5. ScooNews
Founder: Ravi Santalani
Founded: 2017
Industry: Media
Scoo News Website
Scoonews is a news platform focused on news related to education. It is a website where teachers and other professionals in the education industry can keep a tab on their industry. Along with reading, people can also contribute by submitting their articles on their website. Moreover, they have listed some videos that anyone interested in the education field should watch.
Scoonews was founded by Ravi Santalani in 2017. Before starting Scoonews, Ravi was the CEO of AddADot Technologies.
6. KuberBox
Founder: Sourav Lodha
Founded: 2008
Industry: Jewellery
KuberBox Website
KuberBox is a Jaipur-based jewellery startup that deals with a vast variety of jewellery. Not just the jewellery for ladies, but they also have jewellery for men. This startup also gives an opportunity to other people to earn by selling their products to their family and friend circle.
KuberBox was founded by Sourav Lodha. Sourav also founded a company called PrintBooth in his engineering college. He sold his share and exited the company. Sourav did a Professional Diamond course before starting KuberBox.
7. Indibni
Founder: Nitin Jain & Ankit Jain
Founded: 2012
Industry: Gifting
Indigifts Website
Indibni is a gifting and designing company which delivers and brings gifts from and to all over India. According to one of the founders Nitin Jain, the three “I” in the name of the company stands for India, Innovation & Individuality.
Indibini was founded by Nitin Jain and Ankit Jain in 2012. Ankit did his Bachelor’s whereas Nitin did his Masters in Animation from Birla Institute of Technology.
Desi Diaries is a media company which has a collection of many media channels based on city news. They post local news related to all the main cities including Jaipur, on their Instagram pages. Their main focus is Jaipur but they have a particular page for many cities. The Instagram page of Jaipur Diaries (Sub company) has more than 150k followers.
Desi Diaries was founded by Anurag Bajoria. Anurag is an Investment Manager and started the company as a side project. He handles it full-time now.
9. Lexcart
Founder: Arvind Singh
Founded: 2016
Industry: Legal Tech
Lexcartsis a platform where you can find and hire the best lawyer in any city or court in India. Lexcart is very convenient to find a lawyer. We believe that you deserve to get professional legal advice from the best lawyers. The company aims to provide professional legal advice to everyone, only from the best lawyers.
Lexcart was founded by Arvind Singh in 2016. He supports the company as the Chief Legal Officer of Lexcart.
10. Oxy3
Founder: Dipankar Rabha
Founded: 2020
Industry: Gardening
If you love plants or if any of your family members do, then Oxy3 Plant is the online destination for them. You can request services like terrace gardening, vertical gardening, etc. One of their dozens of services is that you can leave your plant in their plant bank if you are going on a vacation. The transportation of those plants is their headache, you can just enjoy your vacation.
Oxe3 was founded by Dipankar Rabha. Dipankar has an MBA degree in Marketing and Finance.
11. KhanaGadi
Founder: Amit Deep Kumar
Founded: 2015
Industry- Food Delivery
KhanaGadi provides this special service to deliver food by train. Moreover, they deliver you the food from any restaurant and you can even ask for custom orders. However, you cannot order it online directly. But they take orders through calls. Their number is available on Google.
This Jaipur-based startup was founded by Amit Deep Kumar in 2015. KhanaGadi delivers food to more than 90 stations in India. Along with that, they also do home food delivery in Jaipur.
Mr n Mrs Pet is an online pet store. They offer each and every service related to pets. You can buy pets from their website and if you already have a pet then you can treat them well with Mr. & Mrs Pet’s services.
Mr n Mrs Pet was founded by Ashish Chanwal. Ashish is a bachelor of Arts from the University of Rajasthan.
13. Street Jumper
Founder: Ravi Poddar & Tarin Poddar
Founded: 2014
Industry: Logistics
Street Jumper is a logistic startup. It helps people to move local goods around the city. They can send or order anything from anywhere around the city. The company aims to create a logistic network where the user gets connected to a verified and validated Jumper, which offers personalized delivery service and completes the assigned task.
Street Jumper was founded by Ravi Poddar and Tarin Poddar in 2014. Later in 2016, the startup was acquired by a Mumbai-based entrepreneur, Sandip Modi.
14. eShiksa
Founder: Pravin Sharma
Founded: 2013
Industry: Educational, Training
eShiksha Website
eShiksa is an education management portal which simplifies the management and provides enormous facilities to an Institute. It provides all the facilities of educational business like administrative, academic and accounting activities. Institute can connect with students and parents easily with eShiksa.
eShiksa helps in students’ growth because it creates a single window for viewing various reports on the academic front and paying all kinds of institute fees online.
If you liked our list, check out other cities too. Share this post with all your friends.
FAQs
What business can I start in Jaipur?
Textile business, Art and painting, travel business, handicraft, sweet shop, and jewellery design are some of the businesses you can start in Jaipur.
What are some of the top startups in Jaipur?
CarDekho, Instacash, KuberBox, Tax2Win, and eShiksha are some of the top startups in Jaipur.
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
FSS Logo
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
BankBazaar Logo
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
Active.Ai Logo
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
Finly Logo
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
Ezetap Logo
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
Money View Logo
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
Cube Wealth Logo
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
Kuants Logo
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
Cashfree Logo
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
CoinDCX Logo
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
Recko Logo
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
Fyp Logo
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
Avail Finance Logo
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
Finin Logo
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
Sqrll Logo
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
Moneyfront Logo
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
ClearTax Logo
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
Revfin Logo
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
PayU Logo
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.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Consumer durable financing demand is expanding across India as the country’s urban population grows, brand awareness grows, and disposable income rises. Because it was the only secure and available choice for customers during the lockdown, internet options reported increased usage of financial services.
The Indian banking system is undergoing an unprecedented shift. Digital lending strategies are getting popular, putting banks’ conventional retail lending procedures on alert.
Even though the transition is pandemic-driven, the technology revolution that swept the financial world in the pre-Covid eras was on the verge of launching digital lending platforms. However, the virus made it grow at an incredible rate.
In 2018, Sachin Bansal and Ankit Agarwal formed a financial services firm based in India called Navi. The headquarters of the company are in Bangalore. Digital personal loans, home loans, healthcare insurance, mutual funds, and microloans are all available through Navi.
The business today has millions of users, more than 3 billion apps downloaded, 825 thousand or more investors, 36 lakh or more satisfied customers, and 105 thousand or more health insurance policies sold to date.
Navi is working on a digital lending platform that will make finance-based services more economical, simple, and relevant to everyone. Navi is a digital lending software that offers you loans up to Rs. 20 lakh in an entirely cashless approach. The company’s platform enables customers to access financial services at a low cost through customer-friendly and innovation-driven enterprises in the financial services, banking, and insurance spaces.
IT and consulting services, non-banking financial services such as loans and microfinance, insurance products, and mutual funds are among Navi’s integrated activities. The Securities and Exchange Board of India has also granted the business a stockbroking and investment advisory license, according to the regulatory filing (SEBI).
The duration of the loans offered by Navi ranges from 3 to 36 months. Navi Finserv also offers 2-wheeler, residential, local business, and educational loans in addition to consumer loans.
Navi works in three simple steps:
Select the loan and EMI amount.
Complete KYC using Aadhar and PAN.
Instantly, money is transferred to your bank account.
Navi – Industry
During the projected period, the digital lending market is estimated to grow at a CAGR of around 11.9% (2022–2026). Because of the COVID-19 outbreak, SMEs all around the world struggled to raise funds to keep their operations running during the crisis period.
An important driver that is driving the industry’s expansion is shifting customer expectations and behavior as a result of the numerous advantages provided by the digitalization of banking and financial services. Consumers come from various backgrounds and will need the loan for several reasons, including personal loans, SME financing, and house loans, among many others.
The lending environment has evolved dramatically over the years because of the fast implementation of digitalization in the BFSI business. In several areas around the world, conventional lending is still practiced. The advantages given by digital solution providers, on the other hand, are progressively paving the way for business adoption of digital lending solutions and services.
Furthermore, various technical improvements, such as the widespread usage of smartphones, have resulted in a rise in the acceptance of digital banking across a variety of end-user industries. Artificial intelligence, machine learning and cloud computing are also beneficial to financial institutions and banks because they can analyze large volumes of client data. This data and information are then compared to produce findings on the appropriate assistance that clients desire, thereby assisting in the development of customer relationships.
Navi – Founders and Team
Navi was founded by Ankit Agarwal and Sachin Bansal in 2018.
Sachin Bansal – Co-founder of Navi
Ankit Agarwal
Navi’s Chief Financial Officer is Ankit Agarwal. Ankit Agarwal studied computer science at IIT Delhi and then obtained an MBA from Ahmedabad’s Indian Institute of Management. Agarwal was previously the VP at Deutsche Bank. He also served as VP and Director at Bank of America before founding Navi with Sachin Bansal.
Sachin Bansal
Sachin Bansal joined Techspan after finishing his degree and worked there for a few weeks. As a senior software engineer, he joined Amazon.com India in 2006. He quit Amazon in 2007 and co-founded Flipkart with Binny Bansal, his business partner. Bansal had served as the chairman of Flipkart for over 10 years before leaving the company in 2018. The ex-founder of Flipkart then founded Navi in the same year.
Navi Technologies chief Sachin Bansal announced that the company has appointed Vidit Aatrey as its independent director. The co-founder and CEO of Meesho, Aatrey’s appointment has been effective since April 9th, which is still subject to the completion of some formalities. Abhijit Bose, Shripad Nadkarni, and Usha Narayanan are the three other directors named by the company; Bose is the Head of India of WhatsApp and the founder of Ezetap; and Nadkarni has worked with reputed organizations previously like Coca-Cola, Johnson & Johnson, and more. and Narayanan has previous experiences with Lovelock & Lewes Chartered Accountants LLP, PricewaterhouseCoopers, and more.
Navi – Startup Story
After leaving Flipkart in December 2018, Sachin Bansal and an IIT-Delhi alumnus created BACQ Acquisitions Private Limited, which was eventually rebranded ad Navi Technologies Private Limited.
Soon after leaving Flipkart, the co-founder and chairman changed course to continue his mission to make his long-term dream happen. Sachin Bansal had his heart set on another great thing, even as his Flipkart dream came to an end. Bansal’s insatiable pursuit of something new can be observed in the fact that he has only spent a few months since leaving Flipkart without investing in or acquiring a firm, mostly for his current venture, Navi Technologies.
Despite the lockdown, Navi’s founder and CEO invested INR 3,000 crore in his firm and built a personal lending app. Flipkart, like Navi, which has acquired a series of businesses in the last 2 years, was built on a foundation of mergers.
Navi – Name, Logo, and Tagline
Navi stands for “new” which depicts what the company stands for.
The new India is becoming more and more accepting when it comes to the digitalization of financial services and banking, which is what Navi does.
Navi’s tagline says, “Get Instant Loan using Navi.”
Navi’s mission statement says, “Our mission is to provide financial products and services that are simple, affordable and accessible by building a customer-centric and technology-first organization.”
Navi – Business Model and Revenue Model
When it comes to Navi Technologies Business Model, the company has emphasized technology-enabled financial and banking services, as well as the seamless integration of the neo banking model with traditional banking services and assurance. To gain domain understanding, Sachin Bansal has teamed up with fellow IIT Delhi alumni Ankit Agarwal, who is a banker by profession.
“Building a universal bank is a reflection of our commitment to provide financial services to those who need them most. Our vision is to go beyond what hitherto has been broadly defined as ‘financial inclusion and provide access to formal financial services using technology that people can use intuitively and easily.” – Sachin Bansal.
It’s worth mentioning that Navi only operated for 3 to 4 months in FY19. Navi’s NBFC business provided over 72% of this income in the form of interest income and related fees. The remaining 8% and 20% of revenue came from the insurance industry and advisory services, respectively.
Navi – Funding, and Investors
Navi Technologies has raised funding in over 6 rounds the latest round of funding was raised on May 12, 2022.
Date
Round
Amount
Lead Investors
May 12, 2022
Debt Financing Round
$ 72.62 million
–
Apr 13, 2020
Private Equity Round
$26.51 million
Gaja Capital
Apr 2, 2020
Funding Round
$398.99 million
Sachin Bansal
Jan 10, 2020
Venture Round
$30 million
International Finance Corporation
Nov 14, 2019
Funding Round
$117.97 million
Sachin Bansal
Jan 31, 2019
Angel Round
$7 million
Sachin Bansal
Navi Technologies, a four-year-old financial business helmed by Sachin Bansal, is the latest Indian fintech startup to submit a DRHP with market regulator SEBI. The loan-providing fintech business plans to raise INR 3,350 crore in the public market.
According to the DRHP obtained, the IPO offer would be made only through a new share issued. This means that no firm shareholders will sell their shares during the Initial Public Offering.
While reading the DRHP, the fact that Navi Technologies’ promoter, Sachin Bansal, has a massive 97.39% interest in the business was found. Because the IPO offer does not contain an OFS component, he will keep 97.39% of the stock after the Public Offering. This implies he owns more of his firm than the well-known Nayar family, which runs Nykaa.
Navi – Investments
Navi Technologies has invested in 6 companies.
Date
Organization Name
Round
Amount
Feb 10, 2022
Infra.Market
Debt Financing
$30 million
Jul 24, 2019
Kissht
Debt Financing
$6.06 million
Jul 17, 2019
boAt
Debt Financing
$2.42 million
Jul 3, 2019
Bounce
Debt Financing
$1.2 million
Apr 24, 2019
KrazyBee
Series B
$12.10 million
Mar 29, 2019
Bounce
Debt Financing
$4 million
Navi – Acquisitions
Navi Technologies has acquired 2 businesses to date.
Acquiree Name
About Acquiree
Date
Amount
DHFL General Insurance
DHFL General Insurance. is a Third Party Car Insurance company.
Jan 2, 2020
–
MavenHive
MavenHive is a Bangalore based tech consulting firm.
Dec 26, 2019
–
Navi – Growth and Revenue
Sachin Bansal, who has also been the founder of Flipkart, after getting an offer of $16 billion from Walmart, decided to sell his 5.5% stake in the company for Rs 7650 crore. However, this time with Navi, which he founded with a vision to build a financial services behemoth over the next two decades, he remained steadfast, which is the primary reason behind the growth of Navi Technologies. The company is already in the segments of asset management, insurance, and lending and is further looking to expand its horizons. The founder currently owns 97.39% of the company’s stakes, as per the reports dated April 3, 2022.
The Navi company has launched a metaverse-based fund of funds scheme, Navi Metaverse ETF Fund of Fund, with the help of its mutual fund arm. Anmol Como Broking sponsors the Fund of Fund scheme of Navi, which will be managed by Navi Mutual Fund. The Fund of Fund scheme-owned assets will be managed by Navi AMC Limited.
According to the company’s current documents filed, Sachin Bansal-led Navi Technologies became profitable in the fiscal year 2021, achieving a combined profit of Rs 71 crore. In the previous fiscal year, the firm had lost Rs 8 crore.
On August 18, 2023, Navi reported revenue of Rs. 438.7 crore for the first quarter of FY24 and the previous quarter (Q4 FY23). However, there was a 2.3X increase when compared to the first quarter of the previous fiscal year (Q1 FY23).
Navi Technologies Revenue Breakdown
Navi Technologies Revenue Verticals
FY21
FY20
Interest Income
INR 451 cr
INR 143.02 cr
Other Operating Revenue
INR 235.6 cr
INR 40.3 cr
Insurance Business Revenue
INR 92.4 cr
INR 15.7 cr
Navi’s sales increased by over 143% as the firm’s operations developed and the usage of banking and financial services via internet channels soared during the pandemic. The income was Rs 137 crore, up from Rs 56 crore the previous year, 2020.
The company’s total earnings increased by 251% from Rs 199 crore in FY20 to Rs 779 crore in FY21, demonstrating the company’s expansion.
The expenditures of Navi have increased by 217% year on year, from Rs 219 crore to Rs 673.8 crore (YoY).
Navi Technologies Expenses Breakdown
Navi Technologies Expenses Verticals
FY21
FY20
Employee Benefit Expenses
INR 169.7 cr
INR 61.6 cr
Advertising and Promotional Expenses
INR 38.7 cr
INR 1 cr
Other Operating and Admin Expenses
INR 190 cr
INR 95.58 cr
Impairment Loss on Financial Assets
INR 187.2 cr
INR 23.8 cr
Finance Cost
INR 88.2 cr
INR 37.02 cr
Navi Technologies Financials
Navi Technologies Financial Breakdown
FY21
FY20
Operating Revenue
INR 779 cr
INR 199 cr
Total Expenses
INR 673.8 cr
INR 219 cr
Profit/Loss
Profit of INR 71.2 cr
Loss of INR 8.07 cr
EBITDA Margin
30.15%
22.02%
The EBITDA of Navi improved positively. On a unit level, Navi Technologies has been reported to have spent Rs 0.86 to earn a single rupee of revenue during FY21.
Navi Financials – FY19-FY21
Bansal had broken down the lending business, stating that the company’s microfinance loan book was worth Rs 1,500 crore and its non-microfinance loan book was worth Rs 600 crore. According to Bansal, the company was disbursing loans of Rs 350 crore each month.
“We are now comparing ourselves with banks and NBFCs. That is why we describe ourselves as a financial services company that happens to be good in technology. I don’t like the word fintech, lot of fintechs don’t have (lend from) their own books,” Bansal had said.
Navi – Products and Services
Navi App
Navi app was released in 2020, and according to latest news the Navi Mutual Fund has effectively empowered 1 million Indians on October, 2023 by making investing money on the Navi app simple and reasonable.
Navi – Layoffs
According to sources, Navi just let go of 200 employees across the divisions of technology, products, and analytics on July 13, 2023. Employees had no prior knowledge of layoffs, according to sources. Meanwhile, a recruiter reported that the upper management had downsizing plans and that HR policies were in place to make sure that not much severance was needed to be paid.
Company spokeperson said, “Navi conducts performance appraisals twice a year, which results in expected departures from the company. However, Navi continues to have multiple open positions and the company is expected to continue hiring many new employees this year, including a batch of 150+ campus hires who will be joining in August.”
Navi Technologies, owned by Sachin Bansal, is allegedly aiming to file a draft red herring prospectus (DRHP) with SEBI for a 4,000 crore initial public offering (IPO) shortly.
According to sources, the firm plans to make its initial public offering (IPO) in June of this year. The IPO will be conducted purely through fresh share issuance, with no component of an OFS (offer for sale). Bansal owns almost 97% of the firm and will not dilute his holdings in the IPO.
The IPO is intended to aid Navi’s expansion in personal loans, microfinancing, and mutual funds, in addition to its mutual fund operations. Navi is also expected to utilize the funds to fund its expansion goals, which include creating a loan book of 20,000 crores in the next two years and obtaining roughly 15,000 crores in debt from the public markets over the same time frame.
Navi became a public company in February 2022, in preparation for an initial public offering. The fintech firm has enlisted the aid of ICICI Securities, BofA Securities, and Axis Capital to manage its public offering.
FAQs
Who founded Navi?
Sachin Bansal and Ankit Agarwal founded Navi.
When was Navi founded?
Navi was founded by Ankit Agarwal and Sachin Bansal in 2018.
Is Navi NBFC registered?
Navi Finserv (Navi) is an RBI-registered non-banking financial company (NBFC).
How does Navi operate?
IT and consulting services, non-banking financial services such as loans and microfinance, insurance products, and mutual funds are among Navi’s integrated activities. The Securities and Exchange Board of India has also granted the business a stockbroking and investment advisory license, according to the regulatory filing (SEBI).
Who are Navi founders?
The Navi startup founders are Sachin Bansal and Ankit Agarwal.
Customers tend to purchase their products with various options when they buy through an e-commerce website. This could be through the various debit cards the customer has in their possession, through net-banking accounts, or through cash-on-delivery where they would pay for their products in form of cash once they receive the product you can pay for it next month when you have the money to do so.
There is a new trend that is emerging by the name of Buy Now Pay Later(BNPL). Say you find a good mobile phone worth say 10,000 rupees, but you don’t want to pay for it as it goes out of your budget for the time being (due to a cash crunch or whatever reasons it may exist). But say by opting for the BNPL alternative, the third-party BNPL company would pay the e-commerce site the 10,000 rupees and then you can pay the BNPL company the same 10,000 later.
There are various BNPL companies in India like Lazypay, ZestMoney, Simpl, MobiKwik, etc. Some companies, like Amazon in Amazon Pay Later and Ola in Ola Money Postpaid, have an intrinsic BNPL system built within them.
But then doesn’t it make you think, how do these BNPL companies make money in the first place, given the various instabilities associated with it potentially? How is it different from the conventional credit card? What is the market scenario of companies which offer the BNPL service in India? We will discuss all of these in this article.
BNPL companies make money mainly from two avenues:
Revenue from Sellers
For vendors, BNPL is an alternative payment method (others including credit & debit cards/wallets/Cash-On-Delivery) and thus, they have to incur a transaction fee like any other medium at a particular rate. However, a rate of 2-8% is higher than a normal credit-card discount rate, which is usually around 2.9% for e-commerce transactions and about 1 percent less for transactions made by credit cards in-store.
Thus, BNPL companies have to position their service offering in such a way that it convinces future customers of how enticing their service is, and this would further convince more vendors to buy into the BNPL service they are offering thus increasing the customer traffic.
Revenue from Customers
Most third-party BNPL providers do have their soft-credit checks to avoid giving money to people who have a poor record for repaying obligations, but this is not universal. Here is how BNPL provides monetizing from consumers:
1)Interest- This varies depending on the company. Some providers like Lazypay charge an interest of 10-30% on the “loan” amount, depending on the customer’s credit and duration of repayment. There are other organizations like Split in America which do not charge any interest rate as long as the installments are paid in due time.
2) Late fees- This forms a major chunk of the revenues of the BNPL organization (as high as 30%). Late fees occur when a charge is imposed on a customer for not paying the due amount on time and he thus has to pay later. Think of it like borrowing a book from a library, and then the various fines accumulated for not returning the book.
Difference between BNPL companies and Banks offering Credit cards
In India, there are mainly three differences between BNPL companies and banks that offer credit cards.
1)Eligibility Criterion- Banks have more stringent criteria to give out credit cards (such as their CIBIL credit score, whether they are earning above a certain criterion or not). BNPL companies are relatively less stringent in their criteria. This helps many consumer segments, such as self-employed people and lower-income category sections.
2) Accessibility- Unlike credit cards, where you have to fill various online forms going through multiple levels of authentication, we can get access to the BNPL option through a one-stop authentication using our UPI ID. Another fact to be noticed is there is no waiting time to avail of the BNPL option unlike say credit cards, where we have to wait 2-3 weeks after applying for one.
3)Interest Rates- BNPL companies tend to offer an interest rate of around 28-30% and as mentioned earlier, interest rates are only applied when the customer opts for a longer duration of repayment. Whereas for credit cards, this tends to be way higher than 36-42% annually. Cases of high-risk borrowers do exist in which BNPL companies offer their services at interest rates similar to credit cards.
Currently, as it stands, unlike other developed nations, BNPL in India is still in its infancy. But it has been widely speculated that it could take off in the future.
A market research firm by the name of Redseer estimates that India’s BNPL market will stand at 45-50 billion dollars by 2026 from the measly 3-3.5 billion dollars as it stands right now. The research firm also predicts that the number of BNPL users in the country could rise to 80-100 million customers by that time, from the 10-15 million users it currently has.
As per Upasana Taku, co-founder of MobiKwik, “Only 60-70 million Indians have access to credit today, which means 93% of India has no access to credit”. Thus, there are a lot of opportunities to be exploited by BNPL companies in the Indian market, where millions of people have little access to formal credit. The poor access to formal credit has further been exacerbated by the COVID-19 pandemic.
These things can be noticed in the fact that about one-fifth of the revenue of MobiKwik is due to the BNPL transactions and there has been a 45x growth in BNPL transactions for MobiKwik. Similar trends can also be noticed in other BNPL companies.
Currently, the major obstacle is, unlike those behemoth banks that offer credit cards, BNPL companies can only offer a maximum credit of 100,000 rupees (which roughly equates to 1310.17 dollars). But this can be overcome as long as the reach of BNPL companies spreads all-over India, especially in the tier-2 cities and villages of India.
Conclusion
Thus, this article documents how BNPL companies get to make their revenue in India, how they are different from banks that offer credit cards, and what is their scope in our country. In a country where a lot of people are transitioning from the lower-income group to the middle-class group, this appeals a lot to the Gen-Z and millennials of our country. The more people get access to credit, the more they spend on various goods which leads to the growth of the economy.
FAQs
Which are the BNPL apps in India?
Some of the best BNPL companies in India are:
Lazypay
ZestMoney
Simpl
MobiKwik
ePayLater
Flexmoney
Paytm Postpaid
Sezzle
What is the BNPL market in India?
According to the Q4 2021 BNPL Survey, BNPL payment in India is expected to grow by 89.5% on annually. It will reach US$ 6927 million in 2022.
Which are the E-Commerce website that allows Buy Now Pay Later option?
Top e-commerce websites that provide the payment option of Buy Now Pay Later for complete range of products are:
In a diverse country like India, where over 1.38 billion people are living, sports have always been an important factor in the country. From Football to Volleyball, there is hardly any sport that is not played in the country. Among all those, the most popular sport is Cricket in the country.
Here, Cricket is literally a religion and almost everyone follows that religion earnestly. Several cricket events are hosted in the country but the most popular one is The Indian Premier League (IPL).
If Cricket is a religion in India, then IPL has to be one of the biggest festivals in the country. Almost everyone is a fan of IPL, the less 2 months event is a big source of entertainment for the cricket-loving audience in the country.
IPL is the biggest T20 event all across the world, started in 2008; it has been serving as a source of entertainment for over 14 years. Such is the popularity of IPL that several billion-dollar companies want the sponsorship right of the event. In this article, we will talk about all the IPL sponsors of 2022. So, let’s get started.
Sponsorship is about putting your name and reputation on the line for someone else. It could be as simple as recommending someone for a new role, yet it’s one of the most powerful cultural tools any organization has. -Lynne Doughtie
Tata is an Indian multinational conglomerate; it is considered one of the oldest and largest industrial groups in the country. It was founded in the year 1868 by Jamshedji Tata. There is hardly anyone who is not aware of Tata as it is everywhere, from automobiles to consumer’s products, you name it and they have it.
Tata bagged the title sponsorship rights of IPL this year. The company replaces the Chinese smartphone brand Vivo and has grabbed the spot for two seasons as of now, 2022 and 2023 as their title sponsor. For this season, TATA will pay over INR 300 Crores for the sponsorship rights.
Official Partners of IPL
RuPay
RuPay is the first Indian multinational financial service and payment service system. It was started by the National Payments Corporation of India in 2012. As announced by BCCI, RuPay is an official sponsor of the Indian Premier League of 2022, although the sponsorship is going to be for multiple years. RuPay is going to pay INR 140 Crores for the sponsorship and is one of IPL’s official partners.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. The company was founded in 2008 by Harsh Jain and Bhavit Sheth. Dream11 has become an official partner and has grabbed the sponsorship rights of IPL 2022. It is the first Indian gaming company that has become a Unicorn.
Unacademy
Unacademy is one of India’s largest Ed-Tech companies whose headquarters is situated in Bangalore, India. It is an online platform where one gets to learn from educational videos and lectures. The Ed-tech firm became an official partner of IPL in 2020; this year as well it is sponsoring IPL 2022. As it was a three-year deal, as per reports Unacademy will pay INR 120 to 130 Crores for the sponsorship rights.
Tata Safari
Tata Safari is the SUV that is produced by the subsidiary of TATA Group, automobile manufacturer Tata Motors. TATA Safari becomes an official partner of IPL in 2021, this year is not any different, they are sponsoring IPL.
Cred
CRED is an Indian Fintech company, whose headquarters is situated in Bangalore, India. It was founded in the year 2018 by Kunal Shah. The company is popular for offering rewards to their customers, who uses CRED as a platform to pay their credit card bills. CRED enter into a three-season partnership with IPL in 2020, so this year as well they are sponsoring IPL and is an official partner of the event. As per reports, BCCI roped CRED at INR 120 Crore deal.
Upstox
Upstox is an Indian fintech company that provides interesting investment options to its customers. It was founded in the year 2010 by Raghu Kumar, Ravi Kumar, and Shrinivas Viswanath and the headquarters is situated in Mumbai, India. Upstox joins the list of sponsors of IPL in 2021 and this year as well it is an official partner of the event. The deal is for two seasons and the cost is INR 45 Crore per season.
On-ground sponsor of IPL
Swiggy
One of India’s most popular food delivery apps, Swiggy was founded in the year 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini. It has partnered with a wide range of restaurants all over the country and serves its customers with various range of cuisines.
Swiggy is now going to be a part of one of the biggest events in the country, as BCCI has signed the online food delivery platform as one of IPL 2022 sponsors. As per sources, it is a deal for 1 year and Swiggy is paying INR 35 Crores for the sponsorship and has become the on-ground sponsor of IPL.
Official Broadcaster of IPL
Star Sports
Star Sports is an Indian television sports channel that is under Star India, a subsidiary of Walt Disney Company. The channel first launched in the year 1991 and Star Sports is an official partner and is on the list of sponsors of IPL 2022 and is the official broadcaster of the event.
Official Digital Streaming Partner of IPL
Disney+Hotstar
Disney+Hotstar is an online streaming platform and is a subsidiary of Walt Disney. The OTT platform was launched in 2015. The streaming platform is an official sponsoring partner of IPL 2022. It is the Official Digital Streaming Partner of IPL.
Official Umpire Partner of IPL
Paytm
Paytm is an Indian multinational fintech company that provides digital payments system services and other financial services. The company was founded in the year 2010 by Vijay Shekhar Sharma and the headquarters is situated in Noida, India. Paytm became the official umpire partner in 2019 of IPL. It was a 5-year deal and so in 2022, it is still on the list of sponsors of IPL as well. It has signed a deal for INR 326.80 Crore.
Official Strategic Timeout Partner of IPL
Ceat
CEAT is an Indian multinational tyre manufacturing company, it was founded in the year 1958. CEAT is an official sponsor of IPL 2022 and is the Official Strategic Timeout Partner.
Chennai Super Kings Sponsors List
The four-time Champion is one of the most valuable teams of the T20 Cricket League with a brand value of ₹2,500 Crores, there are many brands that have grabbed the chance of sponsoring them.
Principal Partners of CSK
Principal Partners of IPL
TVS Eurogrip
TVS Eurogrip is the tyres for bikes that are developed by the company TVS Shrichakra which is an Indian Motorcycle tyre manufacturing company. TVS Motors was founded in the year 1982. The brand TVS Eurogrip was launched in 2019 by TVS Shrichakra. It is the Principal Partner of Chennai Super Kings in IPL 2022.
India Cements
This company founded in the year 1946 is one of India’s prominent cement manufacturing companies. It has included its name as the Principal Partners of CSK in IPL 2022
Gulf Oil
One of the major global oil companies is Gulf Oil. It was founded in the year 1901. Gulf Oil is one of the Principal Partners of CSK for the IPL 2022.
British Empire
The brand of SNJ Distilleries signed the sponsorship deal with CSK and has become one of the Principal Partners of the team.
SNJ 10000
SNJ 10000 is an alcohol beverage company and it is one of the Principal Partners of the team CSK.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Principal Partner of CSK.
Nippon Paint
Nippon Paint is a Japanese that produces high-quality paints and the company is serving the people of India since 2006. The paint company is one of the Principal partners of CSK.
Astral Pipes
Astral Pipes is a pipe and fitting manufacturers company in India, the company was founded in the year 1996, it is one of the Principal Partners of CSK.
Equitas
Equitas works as a microfinance lender, it is a finance bank founded in the year 2016 and its headquarters is situated in Chennai, India. It is a Principal partner of CSK.
Official Partner of CSK
Official Partner of CSK
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Official Partner of CSK.
Digital Partners of CSK
Digital Partner of CSK
Amazon Pay
Amazon Pay is an Online Payments service of Amazon launched in 2007. It is the digital partner of CSK for the IPL 2022.
Aqilliz
Aqilliz helps marketers to create campaigns properly which helps them in connecting with the consumers, it is a blockchain solutions provider. Aqilliz is the digital partner of CSK.
Pouring Partner of CSK
Pouring Partner of CSK
Amul Kool
Amul Kool is a brand of refreshing beverage drink under Amul Company, It is the official Pouring partner of CSK.
Radio Partners of CSK
Radio Partner of CSK
Fever FM
Fever FM is one of the most popular radio stations in India. It is one of the Radio partners of CSK.
Hello FM
Hello FM is a private radio station that operates in Tamil Nadu, it is the Radio Partner of CSK for IPL 2022.
Merchandise Partner of CSK
Merchandise Partners of Chennai Super Kings
ICICI Bank
ICICI is a multinational bank that provides financial services, it is one of the Merchandise Partner of CSK,
Fan Craze
Fan Craze is a platform where one can get NFTS related to Cricket, they are in a partnership with International Cricket Council, they are the Merchandise Partner of CSK.
Christy Textiles
Christy Textiles is a textile company established in 2004, it is mainly popular for manufacturing soft cotton towels, they are the Merchandise Partner of CSK for 2022.
Fan Play
It is a gaming platform where one can get real money while playing games. It is one of the Merchandise Partners of CSK.
Fully Filmy
Fully Filmy is founded in the year 2015, it is a lifestyle brand that makes cool and trendy merchandise and T-Shirts for its customers. It is one of the Merchandise Partners of CSK in IPL 2022.
Atlas Ware
Atlas Ware is an Indian company that focuses on making flasks and water bottles. It has added its name to the Merchandise Partner’s list of CSK.
Levista Instant Coffee
Levista is an Indian brand that produces instant coffee and is sold in the areas of Tamil Nadu. It is also the Merchandise Partner of CSK.
NAC Jewellers
NAC Jewellers is a jewellery store famous for carving South Indian style accessories. It is the Merchandise Partner of CSK.
Nasher Miles
Nasher Miles is a brand that develops trolley bags, it is the Merchandise Partner of CSK for IPL 2022.
The Souled Store
It is an online retail shop that sells various fashion items such as apparel and accessories. It is the Merchandise Partner of CSK.
Mumbai Indians Sponsors List
Considered as the most successful team of IPL with 5 trophies Mumbai Indians with their brand value of ₹2,700 Crores. The team owner of Mumbai Indians is one of India’s biggest companies, Reliance Industries. The sponsors of Mumbai Indians are:
Official Partners of Mumbai Indians
Mumbai Indians Official Partners
MX TakaTak
MX Taka Tak is a short video making platform, where creators can create fun and trendy videos. It is one of the Official Partners of MI.
PhonePe
PhonePe is an Indian Fintech company that provides digital payments services. PhonePe is also an Official Partner of MI in IPL 2022.
USHA
USHA is an Indian company famous for manufacturing consumer durables, it is one of the Official Partners of MI.
ACKO
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Official Partners of MI.
Cadbury Dairy Milk
Cadbury Dairy Milk is a brand of milk chocolate made by the company Cadbury. It is the Official Partner of MI.
Colgate
Colgate is one of the most popular toothpaste brands used in India. It is one of the Official Partners of MI in IPL 2022.
Kotak
Kotak is one of Indi’s major financial service providing companies. It is also the Official Partner of MI in IPL 2022.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Official Partner of MI.
Balkrishna Industries Limited
BKT is an Indian tyre manufacturing company founded in the year 1987, it is one of the Official Partners of MI.
Men of Platinum
It is one of the premium brands of wristwear and bracelets for men. It is also one of the Official Partners of MI
Amul Kool
Amul Kool is a brand of refreshing beverage drink under Amul Company, It is the OfficialPartner of MI.
boAt
boAt is an Indian consumer electronics brand famous for its earwear. It has included its name in the list of Official Partners of MI.
Performax
Performax is an Indian brand known for sportswear, it is the Official Partner of MI.
DNA Networks
DNA Networks is an event management company and it is also the Official Partner of MI.
Radio City 91.1 FM
Radio City 91.1 is India’s first private FM. It has become one of the Official Partners of MI.
Fever 104 FM
One of India’s prominent FM channels and is available in 13 cities. It has also become an Official Partner of MI in the IPL 2022.
Principal Partners of Mumbai Indians
Principal Partners of Mumbai Indians
Slice
Slice is an Indian fintech company based in Bangalore. It is a credit card challenger company and it is the Principal Partner of MI.
DHL
DHL is a logistics company based in Germany. It provides courier, package delivery and express mail service. It is a Principal Partner of Mumbai Indians
Associate Partners of Mumbai Indians
Associate Partners of Mumbai Indians
Marriott Bonvoy
Marriott Bonvoy is a program where when you stay in Marriott hotels, it earns you rewards and points. It is one of the Associate Partners of MI.
Astral Pipes
Astral Pipes is a pipe and fitting manufacturers company in India, the company was founded in the year 1996, it is one of the Associate Partners of MI.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users, Reliance Jio is the Associate Partner of MI.
Royal Challengers Bangalore Sponsors List
RCB with a brand value of ₹536 Crores is another popular franchise team of IPL. Some of the sponsors of this team are:
Title Sponsor of Royal Challengers Bangalore
Royal Challengers Bangalore Title Sponsor
Muthoot Fincorp
Muthoot Fincorp is a company that provides loans in exchange for gold to those customers who are in urgent need of funds. It is the Title sponsor of RCB.
Principal Partners of Royal Challengers Bangalore
Principal Partners of Royal Challengers Bangalore
DP World
DP World is a Dubai-based multinational logistic company, it has become the Principal Partner of RCB.
Exide
Exide is the country’s biggest battery selling company, it has collaborated with RCB and became one of its Principal Partners.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Principal Partner of RCB.
Associate Partners of Royal Challengers Bangalore
Associate Partners of Royal Challengers Bangalore
PUMA
Puma is the multinational German sportswear brand, it has become of the Associate Partners of RCB.
MPL
MPL is the biggest e-sports and gaming platform in India. MPL has listed itself as the Associate Partner of RCB.
PhonePe
PhonePe is an Indian Fintech company that provides digital payments services. PhonePe is also an Associate Partner of RCB in IPL 2022.
boAt
boAt is an Indian consumer electronics brand famous for its ear wears. It has included its name in the list of Associate Partners of RCB.
MAX Life Insurance
MAX Life Insurance company is a life insurance company in India. It is also an Associate Partner of RCB in IPL 2022.
Nippon Paints
Nippon Paint is a Japanese that produces high-quality paints and the company is serving the people of India since 2006. The paint company is one of the Associate Partners of RCB.
Official Partners of Royal Challengers Bangalore
Official Partners of Royal Challengers Bangalore
Myntra
Myntra is one of the most popular e-commerce websites providing some cool and trendy fashion items. It is one of RCB’s of Official Partner.
Socios.com
Socios.com is one of a kind app that helps you get connected to your favourite team. It is one of the Official Partners of RCB.
JAIN Deemed-to-be University
It is one of Bangalore’s private universities and is the Official Partner of RCB for IPL 2022.
Nestle MILO
It is chocolate flavoured beverage drink that is produced by Nestle. It is the Official Partner of RCB.
Balkrishna Industries Limited
BKT is an Indian tyre manufacturing company founded in the year 1987, it is one of the Official Partners of RCB.
Herbalife Nutrition
Herbalife Nutrition is a global organisation that focuses on selling dietary supplements. It is the Official Partner of RCB.
Kotak
Kotak is one of India’s major financial service providing companies. It is also the Official Partner of RCB in IPL 2022.
Sosyo
Sosyo is an Indian soft-drink manufacturing company in India. It has added its name to the list of Official Partners of RCB.
MX TakaTak
MX Taka Tak is a short video making platform, where creators can create fun and trendy videos. It is one of the Official Partners of RCB.
DNA Networks
DNA Networks is an event management company and it is also the Official Partner of RCB.
iB cricket
It is a virtual reality cricket sport. It is also the Official Partner of RCB.
Fever 104 FM
One of India’s prominent FM channels and is available in 13 cities. It has also become an Official Partner of RCB in the IPL 2022.
SunRisers Hyderabad Sponsors List
Sunrisers Hyderabad also known as SRH won the IPL 2016 and its brand value is ₹442 crore, it is also quite a big franchise and the sponsors of this team are:
Title Sponsors of SunRisers Hyderabad
Title Sponsor of SunRisers Hyderabad
Cars 24
Cars 24 is an online platform where one can sell their cars and also buy preowned vehicles. It is the Title Sponsor of SRH.
Principal Sponsors of Sunrisers Hyderabad
Principal Sponsors of SunRisers Hyderabad
Kent Mineral RO
Kent Mineral RO is a water purifier which is a product of KENT a company of home appliances specialised in Water purifiers. It is one of the Principal Sponsors of SRH.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Principal Sponsor of SRH.
TCL
TCL is a consumer electronics company. It is one of the Official Sponsors of SRH in IPL 2022.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Official Sponsor of SRH.
ACKO
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Official Sponsors of SRH.
Partners of Sunrisers Hyderabad
SunRisers Hyderabad Partners
Wrogn
Wrogn is an Indian luxury brand that deals with fashion items and apparel. It is the Associate Partner of SunRisers Hyderabad.
Fan Code Shop
Fan Code Shop is a brand that sells official merchandise. It has already included ints name in the list of Partners of SunRisers Hyderabad.
Kotak
Kotak is one of Indi’s major financial service providing companies. It is also the Partner of SunRisers Hyderabad in IPL 2022.
Munch
Munch is a chocolate bar sold in India made by Nestlé. Nestlé is an official crunch partner of SunRisers Hyderabad.
Red FM 93.5
Red FM is one of the most popular radio stations in India. It is the official Radio partner of SunRisers Hyderabad.
McDowell’s
McDowell’s is a whisky brand manufactured by United Spirits Limited (USL). McDowell is the celebration partner of SunRisers Hyderabad.
Electrorush
Electrorush is a brand that sells read to drink energy drinks. It has partnered with SunRisers Hyderabad and is an ORS partner of SRH.
Delhi Capitals Sponsors List
One of the strongest teams of IPL, Delhi Capitals or DC is also considered as the dark horse. With a brand value of ₹370 crores some of the sponsors of the brand are:
Principal Sponsors of Delhi Capitals
Principal Sponsors of Delhi Capitals
APL Apollo Steel Pipes
APL Apollo Steel Pipes is the steel manufacturing company that is the largest producer of steel tubes. It is the Principal Sponsor of DC
Octa FX
Octa FX is a trading platform where one can trade forex, cryptocurrencies. It is one of the Principal Sponsors of DC.
BOLT
BOLT deals with EV infrastructure, it is the Principal Sponsor of DC in IPL 2022.
Associate Sponsors of Delhi Capitals
Associate Sponsors of Delhi Capitals
Acko
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Associate Sponsors of DC.
Royal Stag
Royal Stag is the brand of Indian Whiskey, it is the Associate Sponsors of DC.
Rapi Pay
RapiPay is a payment service through which online money transfer, mobile recharge, online booking can happen. It is one of the Associate Sponsors of DC.
Evolut
Evolut is a wellness centre where it focuses on yoga, exercise and healthy eating to keep one healthy. It is one of the Associate Sponsors of DC.
Cup Noodles
Cup Noodles is a brand of instant noodles. It has become an Associate Sponsor of DC.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Associate Sponsor of DC.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Associate Sponsor of DC.
Wrogn
Wrogn is an Indian luxury brand that deals with fashion items and apparel. It is the Associate Partner of DC.
Partners of Delhi Capitals
BKT
BKT is a tyre manufacturing company that is famous for developing tyres for agricultural and industrial vehicles. It is the Partner of DC in the IPL 2022.
boAt
boAt is an Indian consumer electronics brand famous for its earwears. It has included its name in the list of Partners of DC.
Fan Code Shop
Fan Code Shop is a brand that sells official merchandise. It has already included ints name in the list of Partners of DC.
Fever 104 FM
One of India’s prominent FM channels and is available in 13 cities. It has also become a Partner of DC in the IPL 2022.
Amul Kool
Amul Kool is a brand of refreshing beverage drink under Amul Company, It is the official Pouring partner of CSK.
Kotak
Kotak is one of Indi’s major financial service providing companies. It is also the Partner of DC in IPL 2022.
My Fitness
MyFitness is a Peanut Butter Brand that sells different flavoured peanut butter. It is a partner of CSK.
Optimum Nutrition
Optimum Nutrition is one of the popular brands that sell protein powders. It is a partner of CSK.
Bira
Bira is an Indian beer brand founded in 2015. It is also a partner of CSK in IPL 2022.
Kolkata Knight Riders Sponsors List
One of the most popular franchises of IPL KKR has won the trophy two times. With a brand value of ₹543 Crores, the sponsors of the team are:
Principal Sponsors of Kolkata Knight Riders
Principal Sponsors of KKR
Winzo sports
Winzo sports is a fantasy gaming app where you can win real cash. It is the Principal Sponsor of KKR.
Unacademy
UnAcademy is one of India’s largest Ed-Tech companies, it is an online platform where one gets to learn from educational videos and lectures. It has become one of the Principal Sponsors of KKR.
Official Sponsors of Kolkata Knight Riders
Official Sponsors of Kolkata Knight Riders
Lux Cozi
Lux Cozi is an Indian Men’s Innerwear brand. It is one of the Official Sponsors of KKR.
TV9 Bharatvarsh
It is an Indian Hindi language news channel that was launched in 2019. It is the Official Sponsor of KKR.
Joy
Joy is an Indian cosmetic brand especially known for its skin-care products. It is one of the Official Sponsors of KKR.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Official Sponsor of KKR.
One Finance
One Finance is a financial institution, that provides banking services through community banking. It is one of the Official Sponsors of KKR.
ACKO
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Official Sponsors of KKR.
Wrogn
Wrogn is an Indian luxury brand that deals with fashion items and apparel. It is the Official Sponsor of DC.
Official Partners of Kolata Knight Riders
Official Partners of KKR
McDowell’s No.1 soda
It is an Indian alcoholic beverage brand and also supplies water and soda. It is the Official Partner of KKR.
Nestle Munch
Nestle Munch is a brand of a chocolate bar, the product is made under Nestle. It is the Official Partner of KKR.
LG
LG is a South Korean multinational consumer electronics brand. It is ONE OF the Official Partners of KKR.
BKT
BKT is a tyre manufacturing company that is famous for developing tyres for agricultural and industrial vehicles. It is the Official Partner of KKR in the IPL 2022.
Thumbs UP
It is one of the most popular brands of cola in India. It is one of the Official Partners of KKR in the IPL 2022.
Kotak
Kotak is one of Indi’s major financial service providing companies. It is also the OfficialPartner of KKR in IPL 2022.
Mio Amore
Mio Amore is one of the largest bakery shops in India. It offers various cakes and snacks to its, customers. It has become an Official Partner of KKR in Ipl 2022.
Rollick
Rollick is a Kolkata based icecream brand. It is the Official Partner of KKR for the IPL 2022.
Punjab Kings also known as PBKS has a brand value of ₹318 crores. Some of the franchise’s sponsors are:
Title Sponsor of Punjab Kings
Title Sponsor of Punjab Kings
EBIX Cash
EBIX Cash is one of the major platforms where the travel-related financial transaction is possible. It is the Title Sponsor of PBKS.
Principal Sponsors of Punjab Kings
Principal Sponsors of Punjab Kings
BKT
BKT is a tyre manufacturing company that is famous for developing tyres for agricultural and industrial vehicles. It is the Principal Partner of PBKS in the IPL 2022.
Lotus Herbals
Lotus Herbals is one of the prominent brands of cosmetics in India, known for its skincare products. It is the Principal Sponsor of PBKS.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Principal Sponsor of PBKS.
Oasis All Seasons
Oasis All Seasons is a premium Whiskey brand. It is a Principal Sponsor of PBKS.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Principal Sponsor of PBKS.
boAt
boAt is an Indian consumer electronics brand famous for its ear wears. It has included its name in the list of Principal Sponsors of PBKS.
Official Partners of Punjab Kings
Official Partner of Punjab Kings
Bodycare
Bodycare is an Indian apparel brand known for innerwear and underwear. It is the Official Partner of PBKS.
Kotak
Kotak is one of Indi’s major financial service providing companies. It is also the OfficialPartner of PBKS in IPL 2022.
Official Kit and Merchandise Partner of Punjab Kings
Official Kit and Merchandise Partner of Kings Punjab
T10 Sports
T10 Sports is a sportswear brand. It is the Official Kit and Merchandise Partner of PBKS in IPL 2022.
Fan Merchandise PArtner of Kings Punjab
Fan Merchandise Partner of Kings Punjab
Fan Code Shop
Fan Code Shop is a brand that sells official merchandise. It is the MerchandisePartners of PBKS in IPL 2022.
Rajasthan Royals Sponsors List
Rajasthan Royals (RR) brand value stand at ₹249 crores now. The sponsors of the team are:
Title Sponsor of Rajasthan Royals
Title Sponsor of Rajasthan Royals
Happilo
Happiolo is a popular Indian dry fruits brand. It is the Title Sponsor of RR.
Principal Sponsor of Rajasthan Royals
BKT
BKT is a tyre manufacturing company that is famous for developing tyres for agricultural and industrial vehicles. It is the Principal Sponsor of RR in the IPL 2022.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Principal Sponsor of RR.
Dollar
Dollar is the brand of innerwear for men and women in India. It is the Principal Sponsor of RR.
Associate Sponsors of Rajasthan Royals
Studds
Studds is a brand of helmets and motorcycle accessories. It is the Associate Sponsors of RR.
One Moto
One Moto is a brand of electric scooters and bikes. It is the Associate Sponsor of RR.
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Official partner of RR.
Barbados
It is an online fashion brand. It is one of the Official Partners of RR in IPL 2022.
Gujarat Titans Sponsors List
Gujarat Titans are one of the new franchises that have been included in IPL 2022. The sponsors for this team are:
Principal Partner of Gujrat Titans
Principal Partner of Gujarat Titans
Ather Energy
Ather Energy is an Indian electric vehicle company founded in the year 2013. It is the Principal Partner of Gujarat Titans.
Associate Partners of Gujarat Titans
Associate Partners of Gujarat Titans
Capri Global
Capri Global is a global company that provides financial services. It is one of the Associate Partners of Gujarat Titans.
BKT
BKT is a tyre manufacturing company that is famous for developing tyres for agricultural and industrial vehicles. It is the Associate partner of Gujarat Titans in the IPL 2022.
Reliance Jio
The most popular Indian telecom company that has over 1.15 billion users is the Associate Partner of Gujarat Titans.
Astral Pipes
Astral Pipes is a pipe and fitting manufacturers company in India, the company was founded in the year 1996, it is one of the Associate Partners of Gujarat Titans.
Simpolo Ceramics
Simpolo Ceramics is an Indian sanitaryware and Tiles manufacturer. It is the Associate Partner of Gujarat Titans
Acko
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Associate Sponsors of Gujarat Titans.
Toothsi
Toothsi is a brand known for oral hygiene and braces treatment. It is an Associate Sponsor of Gujarat Titans.
Meesho
Meesho is an online shop known for selling affordable apparel, cosmetics and other items. It is the Associate Sponsor of Gujarat Titans.
Official Partners of Gujarat Titans
Dream11
Dream11 is an Indian gaming company where the users can create their imaginary team; the users can earn cash, depending on the performance of the players that they have selected in their team. Dream11 is the Official partner of Gujarat Titans.
boAt
boAt is an Indian consumer electronics brand famous for its earwears. It has included its name in the list ofOfficial Partners of Gujarat Titans.
Kotak Cards
Kotak Cards is one of India’s major financial service providing companies that give credit and debit cards. It is also the Official Partner of Gujarat Titans in IPL 2022.
Amul
Amul is an Indian dairy company that provides every kind of dairy product. It is the Official Partner of Gujarat Titans.
Radio Mirchi
Radio Mirchi is one of the most popular FM stations in India. It is one of the Official Partners of Gujarat Titans.
Lucknow Super Giants is the other new franchise that was included in the IPL 2022, the sponsors of this team are:
Title Sponsor of Lucknow Super Giants
Lucknow Super Giants Title Sponsor
My11Circle
My11Circle is a fantasy gaming platform founded in the year 2019. It is the Title Sponsor of Lucknow Super Giants.
Associate Sponsors of Lucknow Super Giants
Lucknow Super Giants Associate Sponsors
ACKO
Acko is a general insurance company it is founded in the year 2016. Acko has included its name in the list of Associate Sponsors of Lucknow Super Giants.
Aorus
Aorus is a brand famous for providing high-quality motherboards. It is the Associate Partner of Lucknow Super Giants.
Gigabyte
Gigabyte is a leading global tech company that provides computer hardware. It is the Associate Partner of Lucknow Super Giants.
Conclusion
This completes the IPL sponsor’s list for 2022. It wouldn’t be wrong to say that IPL itself has become a brand right now. This T20 league is one of the most popular cricket leagues in the world and it has reached the mark of 380 million viewership count. So, it is natural that the world-known brands want to collaborate with IPL.
FAQs
What is IPL?
IPL is the men’s T20 cricket league. It stands for the Indian Premier League.
Ashwini
