About FinTech sector in India
The FinTech sector in India comprises 18.8K companies, including 2.9K funded companies having collectively raised $42B in venture capital money and private equity. Out of these, 821 are Series A+ funded, and 34 have achieved unicorn status.
FinTech sector in India has seen 318 acquisitions and 77 IPOs.
This sector includes companies providing tech-enabled financial services and IT infrastructure and software for offering and managing financial services.
FinTech sector is also known as BFSI Tech.
Companies providing tech solutions to provide financial services like lending, banking, fundraising, insurance, etc are included in this sector. Companies offering traditional financial services like Banks, NBFCs, Insurance Carriers, etc are excluded.
Top FinTech Companies in India
There are 18,821 FinTech startups in India which include Groww, Razorpay, BharatPe, PhonePe, ACKO. Out of these, 2,900 startups are funded, with 821 having secured Series A+ funding, and 34 achieving unicorn status.
2026 has seen the creation of 634 FinTech startups in India. Over the past 10 years, an average of 1,169 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, IIT Bombay and BITS Pilani.
Here is the list of top FinTech startups in India
1. Groww
Provider of digital brokerage services for stocks and mutual funds. This platform facilitates the purchase and sale of equity shares, exchange traded funds, and direct mutual fund schemes. It provides tools for tracking market indices, monitoring portfolio performance, and executing trades through an integrated interface. Users access analytical data, including price charts and financial indicators, to manage investment positions and systematic investment plans. The service supports margin trading facilities and commodity trading options.
Key facts about Groww
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Public
- Total Funding till date: $596M
- Investors: Lightbridge Partners, Ribbit Capital and 25 Others
- Latest Funding Round: Series F, Jun 13, 2025, $*****
- Tracxn Score: 88/100 What is this?
- Competitors Rank: 2 of 1,310 Competitors
2. Razorpay
Provider of a comprehensive financial platform for businesses to accept, process, and disburse payments. The platform enables organizations to manage banking operations, automate payroll compliance, and access credit facilities through a unified interface. It supports various payment modes, including credit cards, debit cards, netbanking, and digital wallets, while offering tools for payment gateway integration, payout management, and current account services.
Key facts about Razorpay
- Founded Year: 2014
- Location: Bengaluru (India)
- Stage: Series F
- Total Funding till date: $742M
- Investors: Peak XV Partners, GIC and 35 Others
- Latest Funding Round: Series F, Dec 19, 2021, $*****
- Tracxn Score: 86/100 What is this?
- Competitors Rank: 2 of 7,971 Competitors
3. BharatPe
Provider of payment solutions, lending, and investment opportunities for businesses. It offers tools for payment acceptance, including QR codes and card payment devices. Additionally, it facilitates business loans and provides an investment platform. The company aims to support businesses with financial products.
Key facts about BharatPe
- Founded Year: 2018
- Location: Gurugram (India)
- Stage: Series E
- Total Funding till date: $584M
- Investors: Ribbit Capital, Coatue and 61 Others
- Latest Funding Round: Venture Debt, Sep 23, 2026, $*****
- Tracxn Score: 86/100 What is this?
- Competitors Rank: 1 of 375 Competitors
4. PhonePe
Provider of digital payment, financial, and technology solutions for consumers. The company offers payment management, insurance, and investment services. Consumer and secured lending options are available. They provide digital gold and credit card services. Travel and commute booking services are also offered.
Key facts about PhonePe
- Founded Year: 2015
- Location: Bengaluru (India)
- Stage: Acquired
- Total Funding till date: $1.71B
- Investors: Walmart, General Atlantic and 25 Others
- Latest Funding Round: Series D, Jan 19, 2023, $*****
- Tracxn Score: 86/100 What is this?
- Competitors Rank: 1 of 290 Competitors
5. ACKO
Digital insurance platform offering car, bike, health, life, and travel insurance. Its platform enables customers to discover, compare, purchase, and manage insurance policies through digital channels, with features such as simplified pricing, rapid claims processing, cashless vehicle repairs, and 24/7 customer support. It also offers technology-enabled services such as vehicle insights, traffic fine payments, FASTag alerts, pollution certificate reminders, health emergency assistance, and policy analysis. Additionally, its digital automotive platform supports vehicle discovery, comparison, and online bookings.
Key facts about ACKO
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Series E
- Total Funding till date: $661M
- Investors: General Atlantic, Multiples Alternate Asset Management and 60 Others
- Latest Funding Round: Series E, Jul 10, 2026, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 51 Competitors
Companies founded year-on-year in the FinTech sector in India
634 new startups have been founded so far in 2026 in the FinTech sector in India. 1,997 FinTech startups in India were founded in 2021 - 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 | 634 |
2025 | 667 |
2024 | 1,038 |
2023 | 1,188 |
2022 | 1,243 |
2021 | 1,997 |
2020 | 1,617 |
2019 | 1,184 |
2018 | 1,074 |
2017 | 1,054 |
Stage-wise distribution of FinTech sector companies in India
Out of the total 18,821 FinTech companies in India, 2,900 have secured funding. Among them, 821 have reached Series A or higher, and 583 to Series B or beyond.
Founded - 18,821
Funded - 2,900
Series A+ - 821
Series B+ - 583
Series C+ - 490
Company Stage | No. of companies |
|---|---|
Founded | 18,821 |
Funded | 2,900 |
Series A+ | 821 |
Series B+ | 583 |
Series C+ | 490 |
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Funding Trends in the FinTech sector in India
Total funding year-on-year in the FinTech sector in India
The FinTech sector in India saw a total funding of more than $38.4B in the last 10 years. The most amount of funding was in 2021 at more than $8.81B. There has been a total funding of $3.32B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $3.32B |
2025 | $3.31B |
2024 | $3.59B |
2023 | $2.87B |
2022 | $5.7B |
2021 | $8.81B |
2020 | $2.98B |
2019 | $3.82B |
2018 | $1.86B |
2017 | $2.18B |
Recent Funding Rounds in FinTech in India
In the year 2026, till October 2026, FinTech companies in India have raised $2.46B in equity funding across 170 rounds.
In the same period last year (i.e. till October 2025), FinTech companies in India had raised $2.18B across 298 rounds.
So, 2026 has seen a 13.08% rise in funding in FinTech companies in India as compared to 2025.
Here are some recent, important funding rounds in FinTech companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 4040 | Oct 26, 2026 | ||
Series B | 8440 | Oct 19, 2026 | ||
Seed | 3992 | Oct 16, 2026 | ||
Series A | 6064 | Oct 15, 2026 | ||
Seed | 8533 | Oct 07, 2026 |
Top Investors in FinTech in India
Accel is the top investor in FinTech companies in India based on number of companies invested.
Here are some top investors in FinTech companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Menlo Park (United States) | ||
Cambridge (United States) | ||
Bengaluru (India) | ||
Redwood City (United States) |
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M&A activity in FinTech sector in India
In the year 2026, till October 2026, 13 acquisitions happened in FinTech sector in India. Last year, in 2025, a total of 24 acquisitions happened in FinTech sector in India.
Here are some recent, important acquisitions in FinTech sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 14, 2026 | ||
Business Acquisition | Sep 22, 2026 | ||
Business Acquisition | Jul 24, 2026 | ||
Business Acquisition | Jul 09, 2026 | ||
Business Acquisition | Jun 24, 2026 |
Acquisition trends in FinTech sector in India
Here are the acquisition trends in FinTech sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 13 |
2025 | 24 |
2024 | 30 |
2023 | 39 |
2022 | 44 |
2021 | 37 |
2020 | 12 |
2019 | 22 |
2018 | 33 |
2017 | 22 |
IPOs in FinTech in India
In the year 2026, till October 2026, 6 IPOs happened in FinTech sector in India.
Here are some recent, important IPOs in FinTech sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Oct 21, 2026 | National Stock Exchange (NSE) | |
Oct 20, 2026 | Canadian Securities Exchange (CSE) | |
Oct 01, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Aug 31, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Jun 29, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) |
Colleges which produce the most FinTech companies in India
Companies founded by alumni from top colleges in the FinTech in India
Most number of FinTech startups in India have been founded by alumni from IIT Delhi, IIT Bombay and BITS Pilani.
College | No. of companies |
|---|---|
IIT Delhi | 215 |
IIT Bombay | 185 |
BITS Pilani | 163 |
IIT Kanpur | 127 |
IIM Ahmedabad | 116 |
IIM Calcutta | 116 |
IIT Kharagpur | 111 |
Indian School of Business | 110 |
IIT Madras | 92 |
IIM Bangalore | 91 |
Total funding in FinTech companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' FinTech companies in India have raised the most funding among top colleges. IIT Bombay alumni are second, and IIM Ahmedabad alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $6.12B |
IIT Bombay | $4.59B |
IIM Ahmedabad | $2.81B |
Indian School of Business | $1.9B |
Wharton School | $1.88B |
University of Pennsylvania | $1.87B |
IIM Calcutta | $1.82B |
BITS Pilani | $1.78B |
NMIMS | $1.73B |
IIM Bangalore | $1.66B |
Top News in FinTech in India
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WazirX Crypto Sees 100% Growth in Monthly Trades Since Restart, Customer Satisfaction Over 90%Deccan Herald•Oct 26, 2026•WazirX
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PhonePe Rebrands Share.Market as PhonePe Invest, Launches Portfolio OptimiserViestories•Oct 19, 2026•PhonePe
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BUSY Infotech Targets 5-6x Revenue Growth to Rs 1,000 Crore in Five Years with AI-Powered Solutions for MSMEsMedia Bulletins•Oct 08, 2026•Busy
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Ramco Systems partners with Baker Tilly SM Envoy Consultancy LLC for payroll solutions in UAEUdaipur Kiran•Oct 07, 2026•Baker Tilly, Ramco
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CreditNirvana Launches India's First Integrated AI Suite for Voice Co-Browsing and Agentic Debt Collections OrchestrationBusinessnewsthisweek•Oct 06, 2026•CreditNirvana
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