India’s fintech sector is one of the fastest-growing in the world. Driven by mobile adoption, digital identity initiatives, and regulatory reforms, the Indian fintech ecosystem is reshaping financial services not only at home but increasingly abroad. This article highlights the top 10 Indian fintechs making significant waves across payments, lending, wealth management, and embedded finance.
No list of Indian fintechs would be complete without Paytm.
Founded in 2010, Paytm started as a mobile recharge platform but evolved into a sprawling digital financial ecosystem.
Today, the company offers mobile payments, digital wallets, insurance, personal loans, and even a stockbroking service.
Despite facing stiff competition, Paytm remains a dominant force, with millions of merchants and consumers using its app daily.
Its IPO in 2021, one of India’s largest, underlined its ambitions, although profitability remains a key challenge.
Razorpay has revolutionised digital payments for businesses in India.
Founded in 2014, it offers a full-stack payments platform, from gateway solutions and subscriptions to corporate cards and payroll automation.
Razorpay focuses on solving payment complexities for India’s burgeoning SME and startup ecosystem. It is also expanding into embedded finance, offering banking services under the RazorpayX brand.
Its strong growth trajectory and international aspirations have made it one of India’s most admired fintech success stories.
Owned by Walmart-backed Flipkart, PhonePe is a leader in India’s digital payments market.
Built on the Unified Payments Interface (UPI) rail, PhonePe allows peer-to-peer money transfers, bill payments, mobile recharges, and investments.
PhonePe’s massive reach in tier-2 and tier-3 cities helped drive the broader adoption of digital payments beyond urban centres.
Its move into insurance, mutual funds, and wealth management signals an ambition to become a full-spectrum financial services platform.
Zerodha is India’s largest stockbroking platform by active clients.Launched in 2010, it disrupted the traditional brokerage model with zero-commission trades and a user-friendly, transparent platform.
Zerodha’s focus on technology, low pricing, and investor education has helped it capture a large share of India’s new generation of retail investors. It operates without external funding, making it one of the most profitable fintechs globally.
CRED focuses on India’s affluent credit card users, rewarding them for paying their bills on time. Founded by Kunal Shah, CRED offers cashback, discounts, and access to exclusive experiences.
Beyond rewards, CRED is building a financial ecosystem around its loyal user base, including personal loans, rent payments, and merchant offers.
It has sparked debate about fintech valuations, yet its brand power and user engagement remain undeniable.
Groww is democratising investing for millennials and Gen Z in India. Starting with mutual funds, it expanded into stocks, ETFs, fixed deposits, and more.
With a mobile-first approach, transparent pricing, and a focus on financial literacy, Groww has become one of India’s most popular investment platforms.
It continues to innovate in wealth management, tapping into India’s fast-growing middle-class aspirations.
BharatPe powers digital payments for India’s small merchants and kirana stores.It offers QR code-based payment acceptance, working capital loans, and merchant-focused financial services.
Its aggressive expansion into offline merchant networks gives BharatPe a strong foundation to build further fintech services.
Partnerships with NBFCs and traditional banks position it well to become a significant player in embedded lending.
Policybazaar is India’s largest online insurance aggregator. It allows users to compare and buy life, health, motor, and travel insurance from multiple providers.
Launched in 2008, it played a pivotal role in shifting insurance buying behaviour from agents to online channels.
Policybazaar’s parent company, PB Fintech, went public in 2021, raising substantial capital to fuel its next stage of growth.
Pine Labs started as a point-of-sale (POS) solutions provider but has evolved into a major merchant commerce platform. It offers payment acceptance, financing solutions, loyalty programmes, and prepaid issuance for retailers.
Its stronghold in offline merchant payments and partnerships with global investors like Temasek and Mastercard bolster its expansion plans in Southeast Asia and beyond.
Founded by Flipkart co-founder Sachin Bansal, Navi is taking a tech-first approach to lending, insurance, and mutual funds. Navi offers personal loans, health insurance, and investment products through a seamless digital platform.
By using data-driven underwriting and operating entirely online, Navi aims to serve India’s underbanked populations with efficiency and scale.
It stands out for its ambition to build a full-stack digital financial services platform tailored to India’s unique market dynamics.
Top Indian Fintechs in The Future
These top 10 Indian fintechs showcase the depth, diversity, and dynamism of India’s financial innovation. From payments and lending to wealth management and insurance, Indian fintechs are setting global benchmarks.
As smartphone penetration increases, regulatory frameworks mature, and financial literacy spreads, the Indian fintech opportunity will only expand.
