India's fintech industry is booming, with new startups popping up every day. In this article, we will be highlighting the top 20 Indian fintech startups to look out for in 2023. These startups are revolutionizing the way we handle our finances by introducing innovative products and services such as digital payments, lending, and insurance.
Top Indian Fintech Startups
From well-established companies to newer ventures, these startups are pushing the boundaries of what's possible in the fintech space. Whether you're an investor, a customer, or simply curious about the future of finance, this list is must-read.
- Arthan Finance ARTH: Arthan Finance is a new age LendingTech that aims to change small businesses by providing personalized "Fit to Purpose" financial products based on AI and Deep Learning.
- BankSathi: BankSathi is a cutting-edge digital advisory platform that allows financial advisers to establish a digital presence and begin selling financial products online.
- Bimaplan: Bimaplan's embedded insurance platform enables partners to easily give different insurance products to their consumers at the push of a button, resulting in an enhanced customer experience.
- Biz2X India: With improved loan management, servicing, risk analytics, and a customizable client journey, Biz2X assists banks in scaling their lending operations.
- CASHe: CASHe is a credit-enabled financial technology platform that uses its patented credit rating algorithm to offer a wide range of consumer lending products and services to salaried millennials, including personal loans, BNPL, Credit Line, payments, and transfer facilities.
- Cashfree Payments: Cashfree Payments provides payment collections, vendor payouts, wage payouts, fast loan disbursements, e-commerce refunds, insurance claims processing, expenditure reimbursements, loyalty and rewards payments to businesses in India.
- CredAble: CredAble is India's largest working capital software platform, serving the working capital needs of India Inc., which comprises major, mid, and developing corporates, as well as MSMEs and financial institutions.
- Decentro: Decentro is a full-stack API banking platform that allows users to choose preferred modules, integrate them in the sandbox, and launch their solution within a few weeks.
- Financepeer: Financepeer specializes in education fee financing, allowing educational institutes to manage their funds more efficiently by paying students' complete year's fees up front, while parents can pay back in easy EMIs.
- Fintso: Fintso is a full-stack wealthtech platform that enables Independent Financial Product Providers (IFPPs) to provide access to financial products, digital execution, and robo-advisory support to individual investors, particularly the NeXT Billion.
- Finverv: Finverv is a SaaS-enabled platform that allows companies embed credit in their ecosystem through a simple plug-and-play design, hence diversifying lending institutions' credit portfolios.
- GroMo: GroMo provides their partners with a single app via which they may recommend the best financial products to customers. GroMo is empowering thousands of micro-entrepreneurs by enabling them to earn a solid living by referring financial goods to their network.
- InsuranceDekho: InsuranceDekho is an online platform that allows clients to compare insurance quotations from top-rated insurance firms and buy the best insurance policy for their needs.
- KYC Hub: KYC Hub provides an integrated platform that uses AI and data insights to automate anti-money laundering compliance and customer due diligence. Their AML transaction solution includes capabilities such as PEP and sanctions screening, blacklist screening, and customer profiling.
- Multipl: Multipl provides a unique "Save Now, Pay Later" software that allows users to save for upcoming expenses. They obtain returns from the market and from renowned brands in order to achieve their objectives debt-free and at the lowest possible cost.
- New Street Technologies: MiFiX (Multi-interface Financial eXchange) is a pioneering blockchain-based ecosystem that connects banks, NBFCs, and other FIs seamlessly with their clients, business correspondents, and other stakeholders. The ecosystems enable stakeholders to manage a variety of services including as origination, KYC, Credit Bureau Referencing, underwriting, paperwork, account opening, disbursements, collections, reconciliation, reporting, billing, and settlement.
- Progcap: Progcap is revolutionizing financial access to underrepresented parts of the Indian retail economy. It underwrites credit and provides under-banked semi-urban and rural retailers with flexible, collateral-free working capital through technology and its innovative delivery strategy.
- Revfin: Revfin is a digital lending platform that makes loans more convenient and accessible to people who are financially disadvantaged. Its lending platform blends classic underwriting approaches with cutting-edge technologies such as biometrics, psychometrics, and gamification.
- Rupifi: Rupifi powers B2B transactions for SMEs. It is India’s first Embedded Finance company which operates in the B2B Payments space through its B2B BNPL product.
- Lentra: Lentra's cloud-based software-as-a-service reduces the time-consuming components of identifying borrowers, their credit histories, and past transactional activity by making much of it rule-based and automated, allowing banks to handle up to 95% of loan applications.
Want to know who the new top dogs of Martech are in 2023? Check this out.