Top 10 FinTech Companies in India

Top 10 Fintech Companies in India

India’s fintech landscape is booming, with innovative startups transforming how financial services are delivered and consumed. Here’s an in-depth look at the top 10 fintech startups in India, leading the charge in this dynamic sector.

1. Paytm

Founded: 2010
Founder: Vijay Shekhar Sharma
Headquarters: Noida, Uttar Pradesh

Paytm started as a mobile recharge and utility bill payment platform and has since evolved into a comprehensive digital financial services provider. It offers mobile wallets, payment gateway services, e-commerce, and financial services like loans and insurance.

Growth & Impact:
Paytm boasts over 350 million users and more than 21 million merchants. It has played a pivotal role in promoting digital payments in India, especially post-demonetization in 2016. Paytm’s entry into financial services has made banking and insurance more accessible to the masses.

Also read : Top 10 E-commerce Startups in India

2. Razorpay

Founded: 2014
Founders: Harshil Mathur, Shashank Kumar
Headquarters: Bengaluru, Karnataka

Razorpay provides payment solutions for businesses, enabling them to accept, process, and disburse payments with its product suite. It offers a wide range of services, including payment gateways, neobanking, and lending.

Growth & Impact:
With over 8 million businesses using Razorpay, the company has become a critical enabler of the digital economy. It has processed billions in transactions and continually innovates with products like RazorpayX and Razorpay Capital, furthering financial inclusion.

Also read : Top 10  AI Startups in India

3. PhonePe

Founded: 2015
Founders: Sameer Nigam, Rahul Chari
Headquarters: Bengaluru, Karnataka

PhonePe is a digital payments platform that provides a Unified Payments Interface (UPI) based payment system. It offers services ranging from money transfers to bill payments, recharges, and investments.

Growth & Impact:
PhonePe has over 400 million registered users and handles billions of transactions annually. It has significantly boosted UPI adoption in India, making cashless transactions more mainstream and fostering financial inclusion.

Also read : Top 10 Blockchain Startups in India

4. PolicyBazaar

Founded: 2008
Founders: Yashish Dahiya, Alok Bansal
Headquarters: Gurugram, Haryana

PolicyBazaar is an online insurance aggregator, helping users compare and purchase insurance policies, including life, health, motor, and travel insurance.

Growth & Impact:
PolicyBazaar has insured millions of lives and processed a substantial volume of premiums, revolutionizing the insurance sector with transparency and ease of access. It has also facilitated financial literacy regarding insurance products among Indian consumers.

Also read : Top 10  IoT Startups in India

5. Cred

Founded: 2018
Founder: Kunal Shah
Headquarters: Bengaluru, Karnataka

Cred is a platform that rewards users for paying their credit card bills. It provides various incentives, including exclusive offers and access to premium products and services.

Growth & Impact:
Cred has attracted over 7.5 million users within a short span, rewarding timely credit card bill payments and promoting financial discipline. It has also ventured into personal loans and e-commerce.

Also read : Top 10 Robotics Startups in India

6. ZestMoney

Founded: 2015
Founders: Lizzie Chapman, Ashish Anantharaman, Priya Sharma
Headquarters: Bengaluru, Karnataka

ZestMoney offers consumer financing solutions, enabling consumers to buy now and pay later without a credit card. It integrates with e-commerce platforms to provide instant financing options.

Growth & Impact:
With millions of users, ZestMoney has empowered many who lack access to traditional credit facilities. It has partnered with numerous merchants, making consumer financing more accessible and supporting the broader goal of financial inclusion.

Also read : Top 10  SaaS Startups for Software  in India

7. Groww

Founded: 2016
Founders: Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal
Headquarters: Bengaluru, Karnataka

Groww is an investment platform that allows users to invest in mutual funds, stocks, ETFs, and digital gold through a user-friendly interface.

Growth & Impact:
Groww has over 20 million registered users and has simplified investing for the average Indian consumer. It has significantly contributed to the democratization of investment opportunities, particularly among young and first-time investors.

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8. Pine Labs

Founded: 1998
Founders: Rajul Garg, Lokvir Kapoor
Headquarters: Noida, Uttar Pradesh

Pine Labs provides point-of-sale (POS) solutions and merchant commerce platforms. Its offerings include payment acceptance, loyalty programs, and working capital loans.

Growth & Impact:
With a presence in several countries and over 150,000 merchants, Pine Labs processes billions of transactions annually. It has been a major player in enabling digital payments at retail points and has driven the adoption of electronic payment methods.

Also read : Top 10  Augmented Reality Start-ups in India

9. NiYO Solutions

Founded: 2015
Founders: Vinay Bagri, Virender Bisht
Headquarters: Bengaluru, Karnataka

NiYO Solutions offers digital banking products tailored for salaried employees, including payroll processing, benefits management, and expense management.

Growth & Impact:
NiYO serves over a million users and thousands of companies, improving financial wellbeing through its innovative solutions. It has made significant strides in modernizing payroll and benefits management, enhancing employee satisfaction and financial health.

Also read : Top 10 Health and Wellness Startups in India

10. Lendingkart

Founded: 2014
Founders: Harshvardhan Lunia, Mukul Sachan
Headquarters: Ahmedabad, Gujarat

Lendingkart provides working capital loans to small and medium enterprises (SMEs) through a digital platform, leveraging data analytics and AI for credit assessment.

Growth & Impact:
Lendingkart has disbursed over INR 6,500 crore in loans to more than 120,000 SMEs across India. It has been instrumental in supporting small businesses, especially those with limited access to traditional banking, thereby driving economic growth and employment.

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FAQs for Top 10 Fintech Startups in India

Q: What are the top fintech startups in India?
A: The top fintech startups in India are Paytm, Razorpay, PhonePe, Cred, PolicyBazaar, Lendingkart, ZestMoney, Groww, Pine Labs, and BharatPe.

Q: What common services do these fintech startups provide?
A: These startups provide a range of services including digital payments, investment platforms, lending solutions, insurance aggregation, and merchant services. Specific offerings include mobile payments, UPI transactions, credit card bill management, personal loans, and business banking.

Q: Which startup is known for UPI-based payment systems?
A: PhonePe is known for its UPI-based payment system.

Q: Which company rewards users for paying their credit card bills on time?
A: Cred rewards users for paying their credit card bills on time.

Q: What is PolicyBazaar known for?
A: PolicyBazaar is known for being an insurance aggregator, simplifying the process of comparing and buying insurance policies.

Q: Which fintech startup focuses on providing loans to small and medium enterprises (SMEs)?
A: Lendingkart focuses on providing quick and easy loans to small and medium enterprises (SMEs).

Q: What does ZestMoney offer?
A: ZestMoney offers digital lending solutions, including EMI options without a credit card, personal loans, and Buy Now, Pay Later (BNPL) services.

Q: Which startup provides an easy-to-use investment platform for mutual funds and stocks?
A: Groww provides an easy-to-use investment platform for mutual funds and stocks.

Q: What services does Pine Labs provide to merchants?
A: Pine Labs provides financing, POS terminals, merchant loans, and gift card solutions to merchants.

Q: Which fintech startup focuses on small merchants and kirana stores, offering UPI payments and QR codes?
A: BharatPe focuses on small merchants and kirana stores, offering UPI payments and QR codes along with lending products.

Q: Which startup has a significant user base for digital wallets and cashless transactions in India?
A: Paytm has a significant user base for digital wallets and cashless transactions in India.


These fintech startups have not only transformed the financial landscape in India but have also made financial services more accessible, efficient, and user-friendly for millions of Indians. Their innovative solutions continue to drive the digital economy and foster financial inclusion across the country.

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