Paytm, PhonePe among most successful fintech startups in India. Here's the list of top 10

SUMMARY

India’s fintech space is expanding by leaps and bounds, and the segment has a strong growth potential going forward, noted Inc24, known for its end-to-end coverage of the Indian startups, in its latest report. The country’s adoption rate for fintech products stands at 59 percent, the world's second-highest pace, and significantly higher than the global average of 33 percent, according to an analysis by Inc42. Among the fintech businesses, startups play a very vital role as they have transformed commerce and payments in many ways in the country. Here are the top fintech startups in the country:

By CNBC-TV18Oct 8, 2019 1:03:09 PM IST (Published)

#1: Established in 2010 by Vijay Shekhar Sharma, Paytm, a digital wallet company, has over 30 crore users. (Photo: Twitter/@Paytm)

#2: At the second position is Paytm Money, the investments and trading platform launched by Paytm.

#3: PhonePe is a Bengaluru-based financial technology company, Founded in 2015, the company offers various services such as UPI-based payments app as well as support for billing, recharges, online shopping, etc.

#4: MobiKwik is an issuer-independent digital financial services platform that is involved in various areas such as digital wallets, wealth management and insurance among others.

#5: PayU is focussed mainly on simplifying payments for small and medium merchants. (Wikimedia Commons)

#6: Insurance aggregator PolicyBazaar provides transparent and accurate insurance information to consumers. The platform helps consumers understand and compare various products available in the market.

#7: LendingKart is largely focussed on MSME lending and capital space. It uses big data analytics to help lenders evaluate a borrower’s creditworthiness and completes the loan disbursal process quicker than traditional banks. (Wikimedia Commons)

#8: FreeCharge is a digital marketplace for financial services such as savings, payments, insurance, investment and lending. (Wikimedia Commons)

#9: Mswipe that develops point-of-sale (PoS) terminals for merchants works with smartphones, tablets, computers, and links to bank accounts. (Company Website)

#10: ezetap, a digital payment platform, tries to provide perfect customer experience through the app. (Company website)