IDC Financial Insights today unveiled a list of 10 fast growing fintechs in India as part of the broader IDC FinTech 101 list for Asia/Pacific.
IDC’s “FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region.
10 Fast Growing Fintechs in India
BankBazaar is the world’s first neutral online marketplace that helps people compare and choose financial products such as loans, insurance, credit cards, fixed deposits, saving accounts, mutual funds etc., – over a highly secure, user friendly, and intuitive platform.
Capital Float is an online platform that provides working capital finance to SMEs in India. We offer flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms and receive funds in their bank accounts in 3 days with minimal hassle.
FreeCharge is India’s No.1 payments app. Customers across the country use FreeCharge to make prepaid, postpaid, DTH, metro recharge and utility bill payments for numerous service providers. We launched our wallet in September 2015 and customers are already using it to pay across all major online platforms and offline stores like Shoppers Stop, McDonalds, Cinepolis, HomeStop, Crosswords, Hypercity and even for E-Rickshaws, the list is growing by the day.
Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows. Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
MobiKwik is India’s largest independent mobile payments network connecting 55 million users with more than 1,500,000 retailers. It enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and then start paying them with 1-tap.
Mswipe is India’s largest independent mobile POS merchant acquirer & network provider. We believe in serving the smallest of merchants. India currently has 12-15 million SMEs and mobile POS is the only channel which can efficiently link these SMEs to mainstream financial services & digital commerce. Today less than 500,000 SMEs have any type of POS. Mswipe aims to provide seamless mobile POS solutions to such merchants across India and create India’s largest financial services platform for SMEs.
Paytm is India’s largest mobile payments and commerce platform. It started with online mobile recharge and bill payments and has an online marketplace today. In a short span of time, we have scaled to over 250 Mn registered users. Paytm is the consumer brand of India’s leading mobile internet company One97 Communications. One97’s investors include SoftBank, SAIF Partners, Alibaba Group, Ant Financial (Alipay) and Mediatek. We strive to maintain an open culture where everyone is a hands-on contributor and feels comfortable sharing ideas and opinions.
Policybazaar is an Indian online life insurance and general insurance comparison portal.
For a long time, we have felt that enabling frictionless transactions is a major problem and nobody seems to be doing it right. We decided to tackle it ourselves. Founded by IIT Roorkee alumni, Razorpay aims to revolutionize online payments by providing clean, developer-friendly APIs and hassle-free integration. We offer a fast, affordable and secure way for merchants, schools, ecommerce and other companies to accept payments online.
A Rubik’s cube has more than 43 million billion configurations but only one solution. Rubique (Rubik + Unique) aims to mine every possibilty to offer a unique solution to our customers’ complex financing problems through advanced technologies and data science.
Note: List is arranged alphabetically. Source: IDC, 2017
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