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Market Research Report

India Fintech Market - Growth, Trends, and Forecast (2020 - 2025)

Published by Mordor Intelligence LLP Product code 925447
Published Content info 120 Pages
Delivery time: 2-3 business days
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India Fintech Market - Growth, Trends, and Forecast (2020 - 2025)
Published: February 1, 2020 Content info: 120 Pages
  • The India Fintech Market is estimated to grow at a CAGR of approximately 12% during the forecast period.
  • Fintech Industry in India has shown huge growth over the past few years. India is gradually becoming a hub for many Fintech startups, the prominent names in the list are Paytm, Pine labs, PayU, and Faircent. SoftBank has been actively investing in many potential fintech startups. India has secured the second position in the world with the largest fintech startups following the US in 2018, Over 1300 Startups were added between 201 to 2018 period. Government initiative towards promoting digitization of financial systems and cashless economy has been helpful in shifting consumer focus towards digital alternatives for financial transactions and services.
  • The adoption of Fintech worldwide grew at 64% in 2019, in emerging markets China and India are at 87%. Funding from a diverse set of domestic and international stakeholders also contributed to the growth in digital payments, The rise of digital commerce, innovation in payments technology using AI, blockchain, the Internet of Things (IoT) and real-time payments and the introduction of mobile point of sale (POS) devices have also contributed to growth. 80 % of the banking activities at top banks in the country run on digital channels, the country also has its own remittance programs that include FXNetworks, InstaReM and Remitly. Many of these companies launch innovation labs, partnering with fintech firms to develop Proof of Concept (POC) and to roll out products. Reserve Bank of India helps finance startups with loans for technology, while Government approved new banking licenses and increased the FDI limit in the insurtech sector.

Key Market Trends

Increase in Mobile Banking Payments

Digital payments are rapidly growing across India. The Increase in Digital payments and wallets triggered after demonetization and continued to run the payments landscape in the country, India is one of the largest markets in the world for mobile phones. Government initiative for cashless economy boost the digital payments in the country, This exponential growth of the digital payment sector is driven by multiple factors including convenience to pay, the ever-growing smartphone penetration, rise of non-banking payment institutions (payments bank, digital wallets, etc.), progressive regulatory policies and increasing consumer readiness to the digital payment platform. Another key driver of digital payments is positive policy framework changes and government initiatives like the launch of new payments systems like - UPI, Aadhar linked electronic payments and improvement of the digital infrastructure.

Increase in Fintech Deals in Indian Startups:

The number of Fintech deals has been increased in the country. In the second quarter of 2019, India saw 23 deals and china 15 deals in the same period. Some of the large Indian Fintech deals in 2019 are payment firm Razor Pay raised USD 75 million in June by Sequoia and Ribbit Capital and a digital insurance startup Acko raised USD 65 million from Binny Bansal (Co-Founder of Flipkart), SAIF Partners and others. Investors have invested more than USD 13.3 Billion in Fintech companies since 2014 in India. In 2019, ZestMoney a consumer lending startup raised USD million from Goldman Sachs and their existing investors are Naspers Fintech, Quona Capital and Flourish. The business-to-business (B2B) fintech space attracted $657 million, surpassing the $617 million flowing into business-to-consumer (B2C) fintech startups so far in 2019. 11 FinTech startups raised around USD 365 million in July 2019 that puts the total investments coming into this sector at USD 1.16 billion, almost equaling the entire year's FinTech funding at USD 1.4 billion in 2018.

Competitive Landscape

The report covers the major players operating in the India Fintech Market. The India Fintech Market is fragmented, Due to the increase in the number of startups in the fintech market. Fintech startups are funded by global investors are actively participating in the market competition and giving challenges for established market players in India. Government initiatives towards a cashless economy, smartphone penetration, and many other factors drive the market.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 68039

Table of Contents


  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study




  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porters 5 Force Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry


  • 5.1 Application
    • 5.1.1 E-Commerce
    • 5.1.2 Utilities
    • 5.1.3 Travel
  • 5.2 Type
    • 5.2.1 Digital Payments
    • 5.2.2 Alternative Lending
    • 5.2.3 Personal Finance


  • 6.1 Vendor Market Share
  • 6.2 Mergers & Acquisitions
  • 6.3 Company Profiles
    • 6.3.1 Paytm
    • 6.3.2 MobiKwik
    • 6.3.3 Policy Bazaar
    • 6.3.4 PayU
    • 6.3.5 Kissht
    • 6.3.6 Shubh Loans
    • 6.3.7 Lending Kart
    • 6.3.8 Phonepe
    • 6.3.9 Faircent
    • 6.3.10 ET money



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