Discover the top 10 fintech companies in India across different sectors in 2025. Explore how they are transforming payments, lending, wealth management, and more

Introduction to the Indian Fintech Landscape

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India has become the third-largest fintech market in the world with 26 unicorns and 87 soonicorns. With over 350 million online transacting users doing around 600 billion transactions, India has quickly established itself as a leading market for fintech fueled by regulatory support, digital adoption and innovation.

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Such rapid growth can be attributed to the fast adoption of UPI to make digital payments, low costs of data and increased adoption by rural and suburban areas.

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For fintech in India, the sky is the limit, with growth projections expecting a revenue of 200 billion USD by 2030 with over 150 unicorns in the ecosystem.

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While the market is booming, it is not without its challenges to overcome to continue the uptrend.

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Challenges:

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1. High Regulatory Oversight: Due to the rise in scams and frauds in the digital ecosystem, the RBI has tightened its regulatory framework, posing an entry barrier for many new players and a scaling challenge for key players.

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2. Increased Competition: With relatively fewer barriers to the industry compared to others, many players have found themselves competing in the fintech sector, making the market cutthroat.

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3. Funding slowdown: Since, 2021, FIIs have pulled out of the Indian market with record numbers, causing a funding slowdown.

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Fintech in India can be divided into the following sectors:

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Payments
Lending
WealthTech
InsurTech
NeoBanking
Fintech Infrastructure (BFSI SaaS)

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Here’s a sector-wise breakdown of the top 10 fintech companies in India.

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1. Top 10 Payments Fintech Companies in India

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Company	Founded	Founders	Valuation	Business Model
PhonePe	2015	Sameer Nigam, Rahul Chari	$12B	UPI, merchant payments, bill payments, lending
Paytm	2010	Vijay Shekhar Sharma	$5B+	Payments, wallet, BNPL, financial services
Razorpay	2014	Harshil Mathur, Shashank Kumar	$7.5B	Payment gateway, neobanking, lending
Pine Labs	1998	Lokvir Kapoor	$5B	POS payments, BNPL, merchant solutions
MobiKwik	2009	Bipin Preet Singh, Upasana Taku	$750M	Wallet, UPI, credit solutions
BharatPe	2018	Shashvat Nakrani, Ashneer Grover	$2.85B	Merchant payments, BNPL, credit
Open	2017	Anish Achuthan, Mabel Chacko	$1B	SME neobanking, expense management
Niyo	2015	Vinay Bagri, Virender Bisht	$500M	Digital banking, forex, payroll solutions
Zaggle	2011	Avinash Godkhindi	$700M	Corporate expense management, cards
Instamojo	2012	Sampad Swain, Akash Gehani	$250M	Payment gateway, e-commerce solutions

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2. Top 10 Digital Lending Fintech Companies in India

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Company	Founded	Founders	Valuation	Business Model
Cred	2018	Kunal Shah	$6.4B	Credit card payments, BNPL, lending
BharatPe	2018	Shashvat Nakrani, Ashneer Grover	$2.85B	Merchant lending, BNPL, payments
Lendingkart	2014	Harshvardhan Lunia, Mukul Sachan	$1.2B	SME loans, working capital finance
ZestMoney	2015	Lizzie Chapman, Priya Sharma	$470M	BNPL, consumer credit
EarlySalary	2015	Akshay Mehrotra, Ashish Goyal	$300M	Salary advance loans, credit cards
Rupeek	2015	Sumit Maniyar	$635M	Gold loans, secured lending
CASHe	2016	Ketan Patel	$250M	Instant personal loans, BNPL
KreditBee	2018	Madhusudan E, Ranvir Singh	$680M	Short-term loans, credit line
MoneyTap	2015	Bala Parthasarathy	$700M	Personal credit line, BNPL
Faircent	2013	Rajat Gandhi	$100M	P2P lending marketplace

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3. Top 10 WealthTech Fintech Companies in India

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Company	Founded	Founders	Valuation	Business Model
Zerodha	2010	Nithin & Nikhil Kamath	$2B	Stock brokerage, mutual funds, trading
Groww	2016	Lalit Keshre, Harsh Jain	$3B	Mutual funds, stocks, gold, FDs
Upstox	2009	Ravi Kumar, Shrini Viswanath	$3.5B	Stock trading, derivatives, IPOs
INDmoney	2019	Ashish Kashyap	$600M	Wealth management, stock advisory
Smallcase	2015	Vasanth Kamath	$400M	Thematic stock investing, ETFs
ET Money	2015	Mukesh Kalra	$350M	Personal finance, mutual funds, SIPs
Paytm Money	2017	Vijay Shekhar Sharma	$200M	Investment platform, stock trading
Scripbox	2012	Sanjiv Singhal	$250M	Financial planning, mutual funds
WealthDesk	2016	Ujjwal Jain	$200M	PMS and wealth management solutions
Kuvera	2016	Gaurav Rastogi	$150M	AI-based wealth management

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4. Top 10 InsurTech Fintech Companies in India

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Company	Founded	Founders	Valuation	Business Model
Acko	2016	Varun Dua	$1.1B	Digital-first general insurance
Digit Insurance	2017	Kamesh Goyal	$4B	Online insurance, paperless claims
PolicyBazaar	2008	Yashish Dahiya	$2.5B	Insurance aggregation, advisory
Plum	2019	Abhishek Poddar	$200M	Group health insurance
Turtlemint	2015	Dhirendra Mahyavanshi	$900M	B2B insurance distribution
OneAssure	2020	Apurva Patel	$150M	Embedded insurance for businesses
RenewBuy	2015	Balachander Sekhar	$500M	Digital insurance broker
Toffee Insurance	2017	Rohan Kumar	$100M	Microinsurance products
BimaPe	2020	Rahul Mathur	$50M	Insurance management app
DigitLife	2021	Kamesh Goyal	$400M	Life insurance

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5. Top 10 NeoBanking Fintech Companies in India

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Company	Founded	Founders	Valuation	Business Model
Jupiter	2019	Jitendra Gupta	$710M	Digital banking, investments, credit
Fi Money	2019	Sujith Narayanan	$500M	Savings, spending analytics
Niyo	2015	Vinay Bagri	$500M	Forex, payroll, digital banking
Open	2017	Anish Achuthan	$1B	SME banking, accounting
Freopay	2020	Archit Agarwal	$100M	UPI-linked banking
Hylo	2021	Krishnan Menon	$50M	Student-focused banking
EpiFi	2019	Sujith Narayanan	$350M	AI-driven digital banking
North Loop	2020	Tahem Veer Verma	$80M	NRI-focused digital banking
Walrus	2020	Prateek Mehta	$70M	Teen banking solutions
InstantPay	2013	Shailendra Agarwal	$200M	SME banking, corporate finance

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Top 10 Fintech Companies in Different Sectors in India in 2025

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