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
|India Fintech Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
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.
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.