Good Morning,
In 2021, India’s fintech ecosystem was buzzing with activity. Amid the rapid digitisation propelled by the COVID-19 pandemic, fintech startups worked hard to enable digital payments, help people buy insurance online, and enable MSMEs to exert financial autonomy, and proliferate buy now pay later (BNPL) schemes.
While Digit Insurance, CRED, Five-Star Business Finance, Groww, Zeta, BharatPe, Mobikwik, Acko, Upstox, and Slice crossed the billion-dollar market valuation mark, Paytm, and Policybazaar got listed on the stock exchanges.
Part of the massive investment inflow into the Indian startup ecosystem can be attributed to fintech startups, which drew a total of $4.25 billion in funding in the first nine months of the year as per YourStory data — over 3X more than in the year-ago period.
“Indian fintechs are at an inflection point to leverage digital enablement of users to China-like levels in five years through a robust stack of platforms and rise in ecommerce and digital transactions,” investment bank Jefferies noted.
Check out the top trends in the Indian fintech space in 2021.
The Interview
In this episode of the #FullerLife, YourStory Founder and CEO, Shradha Sharma meets Naveen Varshneya, Founder, Curedemy, to find answers to help us navigate the new normal.
Editor’s Pick: Product Roadmap
Ankit Singh, Jawaid Iqbal and Anubhav Jain realised that working capital continues to be a largely unsolved problem for small and medium enterprises (SMEs). That’s when they looked at embedded transaction use cases as a potential solution.
It led to the birth of Rupifi, an embedded B2B payments player with credit access. Rupifi provides a set of APIs for the marketplace to integrate and be embedded in the journey of the marketplace app for the end SME user. Read more.
Startup Spotlight
Helping street vendors go digital
B2B2C platform Hokart is empowering street vendors by providing access to digital commerce, quality supply chain, and infrastructure. Operational in Bengaluru at present, it has onboarded over 160 street vendors so far. Read More.
News & Updates
Before you go, stay inspired with…
Sanjay Gupta
“With the fundamental drivers of digitisation now in place, and millions of new users coming online, India’s goal of becoming a truly digital economy is within sight.”
— Sanjay Gupta, Country Head and VP, Google India
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