Leading Indian Fin-tech Companies
Paytm
Launched in 2010 by Vijay Shekhar Sharma, Paytm is a digital wallet company and the only company in India which has produced two decacorns (companies worth more than $10 Bn).
Initially, Paytm was started as a DTH and recharge platform, with a wallet service to make payments. It has since then forayed into different segments such as payment gateway, payments bank, investments and more.
Paytm’s turning point came with the demonetisation in November 2016, when its user base grew from 125 Mn users before demonetisation to 185 Mn three months after. Since then, it has continued to grow, hitting the 300 Mn mark in 2018. The company also launched an investments and trading platform called Paytm Money, and has also entered e-commerce with Paytm Mall.
PhonePe
Founded in 2015, headquartered in Bengaluru, PhonePe is a financial technology company. PhonePe offers a UPI-based payments app as well as support for billing, recharges, e-commerce and other online services. As per the UPI data released for August 2019, PhonePe was the leading app for UPI payments in India.
PhonePe offers just one app to enable users to send or receive money, make mobile or DTH recharges, paying utility bills from credit card to insurance premiums, shopping through online and offline vendors or travelling. The user just needs to link their bank account to the PhonePe app and make payments through the unified payments interface (UPI) platform.
MobiKwik
MobiKwik is an issuer-independent digital financial services platform, the company has forayed into various segments of the fintech ecosystem including digital wallets, wealth management, insurance and more.
Low customer acquisition cost, inbuilt scoring model, and quick disbursal of loans have been the key differentiators for MobiKwik. MobiKwik was one of the first to disburse a loan amount in a matter of 90 seconds.
PayU
PayU is a digital payments gateway and service provider focussed on simplifying payments for small and medium merchants by providing technology to fulfil online transactions. PayU has a multi-functional mobile app which allows online businesses to accept and process payments. Merchants can use the app to monitor their business performance and request for payments from customers and vendors. PayU provides its services in over 17 countries.
ETMoney
ETMONEY is India’s largest app for financial services that is simplifying the financial journey of new-age Indians. Consumers use ETMONEY to invest in Zero-commission Direct mutual funds for Free, protect their families with unique Insurance solutions & use ETMONEY Credit Card to take instant loans at low-cost. Growing at 340% yearly, combined with multiple innovative solutions, it has grown to 7Mn users from more than 1300+ Indian cities and is driving more than $500Mn of non-payment annual transaction volume on its platform.
PINE LABS
Pine Labs is an Indian merchant platform company that provides financing and last-mile retail transaction technology, founded in 1998. It is one of the unicorn companies, with a valuation of over US$1 billion.[2][3]
It provides a merchant platform and makes software for point of sale (PoS) machines.[4] The company has more than 70,000 retailers across India, including major retail outlets such as Mark’s and Spencer’s Retail, Pantaloons, Shoppers Stop and Westside.[5] It has a presence in India and Malaysia and other parts of Asia.[6]
POLICY BAZAAR
Policybazaar, is an Indian insurance aggregator and a global financial technology company based in Gurugram, India. It was founded in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. It provides a digital platform in the form of a website and an app where users compare financial services from major insurance companies. Policybazzar is India’s largest insurance aggregator. The group has also expanded operations to the United Arab Emirates.
FREECHARGE
Freecharge, is an Indian digital marketplace for financial services based in Gurugram, Haryana, India. Freecharge services are available across various financial instruments including savings, payments, insurance, investment and lending. The company’s objective is to create an ecosystem of innovative products and features that enables cashless transactions. Freecharge consumers can avail its services by paying utility bills (Electricity, Gas), Landline bills or Mobile recharges, Broadband, DTH and Metro cards. In addition, Freecharge powered by Axis Bank allows its users to invest in mutual funds and get easy credit through Freecharge EMI. Freecharge UPI and payment gateway enables consumers to instantly send or receive money, shop at leading offline and online merchants across categories movies, entertainment, food, shopping, travel to get cashback & discounts
LENDINGKART
Lendingkart Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India. The software Company aims to revive small business lending by making it convenient for SMEs to access credit easily. LendingKart uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. This startup has developed technology tools based on big data analysis which compliments lenders to evaluate borrower’s creditworthiness and provides other related services.
Lendingkart Group aims to make working capital finance accessible at the fingertips of its business oriented users and founders, so that they can focus on business instead of worrying about the gaps in their cash-flows.
BILLDESK
BillDesk is an Indian online payment gateway company based in Mumbai, India. It was founded M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000. In 2015, BillDesk received an investment of USD 200 million from General Atlantic and Temasek thereby giving the company a total valuation of USD 1 billion dollars. As of then, the net worth of BillDesk is USD 1 billion.
