The Finanacial technology, or simply called Fintech is an economic industry consisted of companies that uses technology for the effective procedures of financial services. The fintech ecosystem in India has significantly evolved over years with considerable efforts from startups, financial institutions, the government, venture capitalists, and regulators.

1. Top 10 Fintech Start-Ups in India
The fintech ecosystem in India has significantly evolved over years with considerable
efforts from startups, financial institutions, the government, venture capitalists, and
regulators.
According to a Yes Bank report, 2018, the transaction value for the Indian fintech
sector was estimated to be approximately US$33 billion in 2016 while it is forecasted
to reach US$73 billion in 2020 growing at a five-year CAGR of 22%.
Here is the list of India’s top10 fintech companies increasingly contributing to the
country’s fintech revolution:
PolicyBazaar
PolicyBazaar was initially founded in 2008 as an information portal to learn about
insurance; however, now it operates as India’s leading digital insurance brand and a
marketplace for aggregating and selecting deals from across the industry.
PolicyBazaar at present accounts for almost 25% of all life insurance policies in India
and processes nearly 300,000 transactions per month.
LendingKart
Founded in 2014, Lendingkart permits entrepreneurs to get easy access to working
capital finance options. Utilizing big data analysis and technology tools, the platform
creates a more competent and operative way to evaluate credit worthiness. The
company now aims for expanding its reach to over 1,200 cities across India.
PaySense
PaySense, founded in 2015, is a consumer lending platform giving users credit in a
customized manner. PaySense EMI, their custom-made line of credit, is similar to a
personal loan and can be used to make immediate purchases both online or offline,
through reasonable EMI plans.
MobiKwik
Founded in 2009, MobiKwik was initially started as a digital payment establishment,
providing a mobile phone-based payment system and digital wallet. Over the years,
the startup has grown into a digitalized financial services platform with a customer
base of around100 million. MobiKwik has also begun offering digital insurance on its
app.
Capital Float
Capital Float is owned by CapFloat Financial Services and offers specialized credit
and financial loans to businesses. It utilizes its own proprietary loan underwriting
system to lend to prospective borrowers. The company has over 50,000 customers
across 300 Indian cities. In August, 2018 the company acquired another major startup
Walnut.

2. Bank Bazaar
BankBazaar is a digital financial marketplace, where consumers get access to credit
cards, customized rate quotes on loans, or personal finance products such as insurance
policies, credit card, bank loans and such offers. The company operates in overseas in
Singapore and Malaysia.
InCred Finance
InCred Finance is a non-banking finance company providing consumers various loans
such as, home loans, small and medium-sized enterprise (SME) loans, education loans,
and two-wheeler loans.
Razorpay
Razorpay, founded in 2014, provides payment solutions to online merchants based in
India. It allows online business platforms to accept, process and distribute digital
payments through a number of payment modes like credit cards, debit cards, UPI, net
banking, and prepaid digital wallets.
ClearTax
ClearTax, founded in 2011, provides support to individuals and businesses file online
tax returns. The company is targeting around 4 million users by March 2019.
ZestMoney
ZestMoney, run by Camden Town Technologies, is a lending platform, where users
could buy products online using digital equated monthly instalments (EMIs). For
this, ZestMoney uses technologies like artificial intelligence (AI) and machine
learning to do risk profiling of e-commerce consumers and work with financial
institutions to offer loans.
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