About FinTech sector in India
The FinTech sector in India comprises 18.7K companies, including 2.88K funded companies having collectively raised $65.1B in venture capital money and private equity. Out of these, 821 are Series A+ funded, and 33 have achieved unicorn status.
FinTech sector in India has seen 315 acquisitions and 78 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 18,691 FinTech startups in India which include Groww, BharatPe, PhonePe, Razorpay, ACKO. Out of these, 2,878 startups are funded, with 821 having secured Series A+ funding, and 33 achieving unicorn status.
2026 has seen the creation of 586 FinTech startups in India. Over the past 10 years, an average of 1,157 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 1,563 Competitors
2. 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 427 Competitors
3. 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: 2 of 2,448 Competitors
4. Razorpay
Provider of payment and business banking solutions for enterprises. The company offers tools for payment acceptance, automated payroll, and business banking. Solutions include payment gateways, current accounts, and corporate credit cards. It also provides developer resources such as API documentation and integration tools.
Key facts about Razorpay
- Founded Year: 2014
- Location: Bengaluru (India)
- Stage: Series F
- Total Funding till date: $742M
- Investors: Peak XV Partners, GIC and 36 Others
- Latest Funding Round: Series F, 2022, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 3 of 8,883 Competitors
5. ACKO
Provider of digital insurance products including car, bike, health, life, and travel coverage. The company offers a range of insurance solutions through a digital platform, enabling users to purchase policies and manage claims online. Its offerings include comprehensive coverage for vehicles, health plans for families and individuals, term life insurance, and international travel protection. The service focuses on simplifying the insurance process by providing digital tools for policy management, claim filing, and real-time assistance.
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 59 Others
- Latest Funding Round: Series E, Jul 10, 2026, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 24 Competitors
Companies founded year-on-year in the FinTech sector in India
586 new startups have been founded so far in 2026 in the FinTech sector in India. 1,992 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 | 586 |
2025 | 600 |
2024 | 983 |
2023 | 1,200 |
2022 | 1,246 |
2021 | 1,992 |
2020 | 1,629 |
2019 | 1,201 |
2018 | 1,072 |
2017 | 1,063 |
Stage-wise distribution of FinTech sector companies in India
Out of the total 18,691 FinTech companies in India, 2,878 have secured funding. Among them, 821 have reached Series A or higher, and 581 to Series B or beyond.
Founded - 18,691
Funded - 2,878
Series A+ - 821
Series B+ - 581
Series C+ - 485
Company Stage | No. of companies |
|---|---|
Founded | 18,691 |
Funded | 2,878 |
Series A+ | 821 |
Series B+ | 581 |
Series C+ | 485 |
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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 $61.5B in the last 10 years. The most amount of funding was in 2025 at more than $26.5B. There has been a total funding of $2.58B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $2.58B |
2025 | $26.5B |
2024 | $3.58B |
2023 | $2.88B |
2022 | $5.63B |
2021 | $8.96B |
2020 | $3.43B |
2019 | $3.91B |
2018 | $1.92B |
2017 | $2.13B |
Recent Funding Rounds in FinTech in India
In the year 2026, till September 2026, FinTech companies in India have raised $2.23B in equity funding across 149 rounds.
In the same period last year (i.e. till September 2025), FinTech companies in India had raised $1.91B across 256 rounds.
So, 2026 has seen a 17.03% 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 | 2757 | Sep 24, 2026 | ||
Seed | 2359 | Sep 22, 2026 | ||
Series C | 9069 | Sep 18, 2026 | and 1 more | |
Angel | 8474 | Sep 17, 2026 | and 7 more | |
Series B | 6303 | Sep 10, 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 September 2026, 11 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 | Sep 22, 2026 | ||
Business Acquisition | Jul 24, 2026 | ||
Business Acquisition | Jul 09, 2026 | ||
Business Acquisition | Jun 24, 2026 | ||
Business Acquisition | May 19, 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 | 11 |
2025 | 24 |
2024 | 29 |
2023 | 39 |
2022 | 44 |
2021 | 37 |
2020 | 12 |
2019 | 22 |
2018 | 33 |
2017 | 21 |
IPOs in FinTech in India
In the year 2026, till August 2026, 3 IPOs happened in FinTech sector in India.
Here are some recent, important IPOs in FinTech sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Aug 31, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Jun 29, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
May 08, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Dec 19, 2025 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Nov 14, 2025 | 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 | 219 |
IIT Bombay | 183 |
BITS Pilani | 166 |
IIT Kanpur | 124 |
IIM Calcutta | 119 |
IIM Ahmedabad | 116 |
IIT Kharagpur | 116 |
Indian School of Business | 110 |
IIT Madras | 94 |
IIM Bangalore | 93 |
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 | $6.05B |
IIT Bombay | $4.66B |
IIM Ahmedabad | $3.18B |
Indian School of Business | $2.28B |
BITS Pilani | $2.08B |
Wharton School | $1.88B |
University of Pennsylvania | $1.87B |
IIM Calcutta | $1.83B |
IIT Kharagpur | $1.81B |
IIM Bangalore | $1.76B |
Top News in FinTech in India
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Zest partners with Heart of England Co-op to roll out chargers in the UKMobilityplaza•Sep 09, 2026•ZestMoney
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PhonePe to launch UAE operations in maiden global foray, gets central bank licenceMoneycontrol•Sep 09, 2026•PhonePe
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PhonePe and Visa Launch Three New Payment Solutions to Enhance Digital TransactionsTimes Now News•Sep 09, 2026•PhonePe, Visa
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Kairne Capital Trust Announces US$500 Million India-Focused Investment SchemeThe Tribune•Sep 05, 2026•Kairne Capital IFSC
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SoFi and Payward Partner to Connect Banking and Digital Asset MarketsBusiness Wire•Sep 03, 2026•Payworld, SoFi
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WazirX AMA addresses recovery, but 34% INR freeze timeline remains unclearThe Crypto Times•Sep 02, 2026•WazirX
