Top Fintech Companies in India

Did you know? India is the world’s second-largest digital population after China. In other words, we have the second most internet users globally. Thanks to this paradigm, the penetration of digital financial products, technologies, and services, or ‘Fintech’ products in our nation, has skyrocketed beyond measure, especially in the last five years, making India the second biggest fintech hub after the United States of America. A case in point is India’s unified payments interface, UPI, which has clocked over 5 billion transactions in the last five years, an unprecedented feat for any fintech product thus far.

Every Fintech product or company in India is aspiring or working towards transforming age-old financial processes such as lending, business loans, equity investments, payments, wealth management, and the latest financial systems like cryptocurrency, NFTs, and more, through algorithms, real-time data analysis, artificial intelligence, and a product experience.

For instance, Zerodha, one of India’s leading equity and investment trading platforms, has redefined equity transactions and investments with a few buttons, making it accessible for anybody with a valid bank account. Earlier, what used to be a complicated, cumbersome process is now digitized and presented to us on our phones, making it easy to understand and interact with.

What is the solution distribution of India’s Fintech landscape?

With over 2000 Fintech companies in India, 19% of those companies are into digital payment technology such as – UPI, Pinelabs, Razorpay, and more. Today, these have become household names. Payments technology is closely followed by lending platforms, products such as Cred, Zest Money, Simplipay, etc., and wealth management technology platforms like Groww, Zerodha, Scripbox, and others.

Top fintech companies in these three categories:

Let us now explore fintech companies in the Payments Technology


A household name, ‘We’ll PayTm the money to you’ has become a common transactional phrase in India. Having gone IPO last year, PayTm is arguably India’s leading payment services product, offering services like digital payments, digital ticket bookings, digital bill payments, digital money transfers, and more at the click of a button. Integrated with India’s UPI, they are accessible to all sects of India’s financial strata, from Kirana store owners to owners of large shopping complexes. 


A Walmart-owned digital payments company, PhonePe is a UPI integrated ecosystem that accepts payments across all modes, such as UPI, credit cards, debit cards, etc. Diversifying into PoS machines, they have a deep-reaching presence across the country. 


When a company thinks ‘payment gateway,’ they immediately think ‘RazorPay,’ such is the impact of this product. It is a converged payment solutions stack that enables businesses to accept, process, and disburse payments via its product suite. Razorpay accepts all modes of payment, including credit cards, debit cards, digital wallet transactions, and more; it is an ideal product for organizations to enable online payments.


Cred is a reward-based credit card bill payment product that provides users with rewards every time they transact using their credit cards. One of India’s forerunning fintech unicorns, Cred, with its maverick advertising, gamified, interactive product experience, and exciting rewards such as offers and discounts, has positively impacted the credit scores of thousands of users. 

Now, let us move into exploring the world of lending platforms in the Indian fintech space


It is increasingly cumbersome for owners of MSMEs to secure business loans in the nick of time to grow their organizations. However, products like LendingKart are solving the same problem by providing MSME entrepreneurs with easy access to loans up to 1.5 crores with minimal documentation, procedures, and steps. It is a great way to promote a healthy entrepreneurial spirit in the country.


A fully digitized personal line of credit provider, MoneyTap provides easy access to personal loans and lines of credit for anybody with a bank account, mobile number, and PAN card upon verification. With minimal steps, a completely paperless application procedure, competitive interest rates, and quick disbursement of loans, they are redefining the personal lending scene in India.

Policy Bazaar: 

One of India’s leading Insurance marketplaces, Policy Bazaar offers different types of insurance products, such as health insurance, life insurance, vehicle insurance, home insurance, etc., in a few steps and a completely digitized manner.

Zest Money: 

A buy-now-pay-later or BNPL product, Zest Money was acclaimed as the Technology Leader of the World by the World Economic Forum in 2020. Its mission is to make digital finance available to everybody in the country through digital payments, artificial intelligence, and mobile technologies. Using Zest Money, consumers can buy now and pay later, much like a credit card, but without the risk of premiums burning their pockets.

This brings us to the wealth management segment of top Indian fintech products. Let us explore.


Zerodha is one of India’s leading stock trading platforms and accounts for 15% of all wholesale stock order volumes in India. Easy setup, usability, and access to expert insights and knowledge through Zerodha’s varsity program is an added advantage for the users of Zerodha. Furthermore, having diversified into IPOs, Futures and Options, Bonds, commodities and currency derivatives, and direct mutual funds, Zerodha provides all forms of wealth management under one roof. 


One of the most popular investment platforms in India, Groww allows its users to safely trade stocks, mutual funds, U.S. stocks, and even digital gold. Groww offers customized information to its users based on their desired portfolio while enabling a SIP model within their application, encouraging disciplined investment from its users.


Established to educate users regarding mutual funds, Scrip Box has grown into one of India’s largest asset management platforms with an AUM of 1500 crores and one million+ customers. Their business model is simple. They provide information on the top-performing mutual funds split into long-term, short-term, emergency, and tax-saving categories for users to choose from based on their risk appetite.

India is home to 2000+ fintech companies, and fintech is one of India’s fastest-growing domains. More organizations such as Pine Labs, CCAvenue, upstox, khatabook, and more are redefining digital financial processes in India. All of these organizations are always seeking high-quality talent to join their ranks. So, stay on top of job updates from these fast-growing startups and build a strong career in fintech. Stay tuned for more updates from Xpheno.

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