About FinTech SaaS sector in India
The FinTech SaaS sector in India comprises 783 companies, including 247 funded companies having collectively raised $2B in venture capital money and private equity. Out of these, 91 are Series A+ funded, and 2 have achieved unicorn status.
FinTech SaaS sector in India has seen 34 acquisitions and 8 IPOs. This represents almost 5.4% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes companies that provide SaaS-based Financial Services solutions.
Companies that provide SaaS-based Financial Services solutions to institutions are included in this sector. Companies that provide Non-SaaS based Financial Service solutions and Non-Financial Services solutions are excluded.
Top FinTech SaaS Companies in India
There are 783 FinTech SaaS startups in India which include Comviva, Infibeam Avenues, M2P Fintech, Zeta, IDfy. Out of these, 247 startups are funded, with 91 having secured Series A+ funding, and 2 achieving unicorn status.
Over the past 10 years, an average of 36 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, BITS Pilani and IIT Kharagpur.
Here is the list of top FinTech SaaS startups in India
1. Comviva
Provider of software platforms for telecommunications, digital payments, and digital experiences. The company offers solutions for financial technology, marketing technology, and digital technology. These platforms facilitate digital payments, marketing automation, and business support systems. The business also provides platforms for electronic recharge, voucher management, and network services.
Key facts about Comviva
- Founded Year: 1999
- Location: Gurugram (India)
- Stage: Acquired
- Total Funding till date: $13.5M
- Investors: Sequoia Capital, Cisco and 27 Others
- Latest Funding Round: Series A, 2005, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 1 of 1,365 Competitors
Provider of digital payment solutions and enterprise software platform. The company offers payment acquiring and issuance services, along with neo banking solutions for SMEs. It provides enterprise marketplace and bill payment platforms. Additionally, it offers a hospitality platform and various digital enablers, including money transfer software, data-center services, digital marketing, and domain registry services.
Key facts about Infibeam Avenues
- Founded Year: 2007
- Location: Gandhinagar (India)
- Stage: Public
- Investors: Capital 18, Network18 and 3 Others
- Latest Funding Round: Post IPO, Dec 17, 2018, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 4 of 1,060 Competitors
3. M2P Fintech
Provider of banking, lending, and payment solutions through custom application programming interfaces. The company facilitates customer onboarding, compliance, and regulatory adherence. It offers a core banking system, payment processing, and card issuance. The company extends credit lines and provides digital commerce capabilities. It also offers value-added services, including reconciliation, compliance, and rewards management.
Key facts about M2P Fintech
- Founded Year: 2014
- Location: Chennai (India)
- Stage: Series D
- Total Funding till date: $188M
- Investors: 8i Ventures, Beenext and 62 Others
- Latest Funding Round: Series D, Jun 30, 2025, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 1 of 133 Competitors
4. Zeta
Provider of technology platforms and integrated services for financial institutions. The company offers platforms to scale banking services, including processing, digital experiences, conversational AI, and data analytics. Integrated services include card operations, customer service, and bespoke software development. The company provides resources such as research, case studies, and blogs.
Key facts about Zeta
- Founded Year: 2015
- Location: San Ramon (United States)
- Stage: Series D
- Total Funding till date: $390M
- Investors: SoftBank Vision Fund, Mastercard and 16 Others
- Latest Funding Round: Series D, Feb 11, 2025, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 5 of 594 Competitors
5. IDfy
Provider of identity verification, background screening, fraud prevention, and risk solutions. They offer a suite of APIs for identification, verification, and onboarding. The company provides video solutions for remote verification and onboarding processes. It delivers technology-driven solutions for background screening, along with a no-code platform for onboarding journeys. They offer fraud and risk solutions, including transaction intelligence and legal history checks.
Key facts about IDfy
- Founded Year: 2010
- Location: Mumbai (India)
- Stage: Series E
- Total Funding till date: $38.4M
- Investors: Blume Venture, New Enterprise Associates and 36 Others
- Latest Funding Round: Series E, May 30, 2024, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 5 of 2,654 Competitors
Companies founded year-on-year in the FinTech SaaS sector in India
57 FinTech SaaS startups in India were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 18 |
2024 | 25 |
2023 | 35 |
2022 | 36 |
2021 | 52 |
2020 | 55 |
2019 | 57 |
2018 | 34 |
2017 | 48 |
Stage-wise distribution of FinTech SaaS sector companies in India
Out of the total 783 FinTech SaaS companies in India, 247 have secured funding. Among them, 91 have reached Series A or higher, and 57 to Series B or beyond.
Founded - 783
Funded - 247
Series A+ - 91
Series B+ - 57
Series C+ - 47
Company Stage | No. of companies |
|---|---|
Founded | 783 |
Funded | 247 |
Series A+ | 91 |
Series B+ | 57 |
Series C+ | 47 |
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Funding Trends in the FinTech SaaS sector in India
Total funding year-on-year in the FinTech SaaS sector in India
The FinTech SaaS sector in India saw a total funding of more than $1.8B in the last 10 years. The most amount of funding was in 2021 at more than $434M. There has been a total funding of $24.6M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $24.6M |
2025 | $208M |
2024 | $273M |
2023 | $151M |
2022 | $356M |
2021 | $434M |
2020 | $79.6M |
2019 | $150M |
2018 | $82.5M |
2017 | $45.3M |
Recent Funding Rounds in FinTech SaaS in India
In the year 2026, till January 2026, FinTech SaaS companies in India have raised $24.6M in equity funding across 2 rounds.
In the same period last year (i.e. till January 2025), FinTech SaaS companies in India had raised $6.3M across 5 rounds.
So, 2026 has seen a 290.55% rise in funding in FinTech SaaS companies in India as compared to 2025.
Here are some recent, important funding rounds in FinTech SaaS companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 5669 | Jan 05, 2026 | and 2 more | |
Series A | 5281 | Jan 02, 2026 | ||
Series A | 5815 | Nov 27, 2025 | ||
Series A | 9585 | Nov 19, 2025 | and 2 more | |
Seed | 8678 | Nov 17, 2025 |
Top Investors in FinTech SaaS in India
Accel is the top investor in FinTech SaaS companies in India based on number of companies invested.
Here are some top investors in FinTech SaaS companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Redwood City (United States) | ||
Mumbai (India) | ||
New York City (United States) | ||
Santa Clara (United States) |
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M&A activity in FinTech SaaS sector in India
In the year 2025, till June 2025, 5 acquisitions happened in FinTech SaaS sector in India. Last year, in 2024, a total of 1 acquisition happened in FinTech SaaS sector in India.
Here are some recent, important acquisitions in FinTech SaaS sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jun 12, 2025 | ||
Business Acquisition | Apr 22, 2025 | ||
Business Acquisition | Mar 11, 2025 | ||
Business Acquisition | Mar 04, 2025 | ||
Business Acquisition | Feb 25, 2025 |
Acquisition trends in FinTech SaaS sector in India
Here are the acquisition trends in FinTech SaaS sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 5 |
2024 | 1 |
2023 | 4 |
2022 | 6 |
2021 | 7 |
2020 | 2 |
2019 | 4 |
2018 | 2 |
2017 | 4 |
IPOs in FinTech SaaS in India
In the year 2023, till July 2023, 1 IPO happened in FinTech SaaS sector in India.
Here are some recent, important IPOs in FinTech SaaS sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jul 05, 2023 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Oct 20, 2022 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Mar 31, 2021 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Oct 11, 2017 | Bombay Stock Exchange (BSE) | |
Apr 04, 2016 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) |
Colleges which produce the most FinTech SaaS companies in India
Companies founded by alumni from top colleges in the FinTech SaaS in India
Most number of FinTech SaaS startups in India have been founded by alumni from IIT Delhi, BITS Pilani and IIT Kharagpur.
College | No. of companies |
|---|---|
IIT Delhi | 20 |
BITS Pilani | 18 |
IIT Kharagpur | 18 |
IIT Bombay | 16 |
IIM Bangalore | 14 |
IIM Calcutta | 14 |
IIM Ahmedabad | 13 |
IIT Kanpur | 13 |
Indian School of Business | 11 |
IIT Madras | 9 |
Total funding in FinTech SaaS companies founded by alumni from top colleges in India
In the last 10 years, BITS Pilani graduates' FinTech SaaS companies in India have raised the most funding among top colleges. IIT Kharagpur alumni are second, and IIT Kanpur alumni are third.
College | Total Funding |
|---|---|
BITS Pilani | $636M |
IIT Kharagpur | $500M |
IIT Kanpur | $307M |
IIT Delhi | $168M |
Stanford University | $143M |
IIT Bombay | $93.1M |
IIM Ahmedabad | $80.7M |
IIT Hyderabad | $67M |
IIM Calcutta | $63M |
Indian School of Business | $62.6M |
Top News in FinTech SaaS in India
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Aduna and Comviva Partner to Drive Global Enterprise Adoption of Network Intelligence via NGAGE.aiMarTech Series•Nov 24, 2025•Comviva, Aduna
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Comviva Fintech Platforms processes $1 Bn daily transactions strengthening its fintech dominanceBusiness Review Live•Oct 08, 2025•Comviva
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86400 and Vegapay power the Next Leap in UPI Innovation.The Wire•Oct 01, 2025•Mobileware Tech, VegaPay
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Comviva Wins Gold at Brandon Hall Group™ HCM Excellence Awards® 2025PR Newswire•Aug 19, 2025•Comviva
