We are living in a world which is changing dynamically with the inventions of new technologies. The financial industry has been also revolutionized with technology which has led to the emergence of fintech companies.

These fintech companies have truly revolutionized the payment mechanism. As now everything is on our fingertip, with a few clicks we can do most of our major transactions. These fintech startups aim to replace the traditional payment mechanism. India has emerged as a new nerve center of leading fintech startups.

In this article, we are going to talk about some of the leading fintech startups in India. But before that let’s firstly understood the meaning of Fintech Company briefly.

What is a fintech Company?

Fintech or financial technology is an emerging industry that includes those companies that use technology to make financial services more efficient. In other words, it provides tech-enabled financial solutions providing flexibility and convenience to the consumers. Fintech companies have really simplified our financial transactions. With demonetization and initiatives like Digital India, the fintech startups have got a major kickstart. People are now shifting towards online payment mode.

So, let’s know about some of the leading fintech startups in India:

Paytm

Paytm is one of the leading fintech companies in India. Paytm was founded by Vijay Shekhar Sharma in the year of 2010. Paytm allows users to do a number of transactions such as making transfers, paying bills, recharge, online shopping, paying payouts, etc. This leading fintech company is based in Noida, a region adjacent to New Delhi.

Phone pe

Phone pe is one of the leading fintech companies in India. The company was founded in the year 2015 by Sameer Nigam, Burzin Engineer, and Rahul Chari. The headquarters of the company is situated in Bengaluru of Karnataka. This app facilitates its users to make a number of transactions easily such as paying electricity bills, gas bills, recharge, etc.

MobiKwik

MobiKwik is one of the pioneering fintech companies in India which facilitates the digital payment system and digital wallet. MobiKwik was founded in the year of 2009 by Bipin Preet Singh and his wife Upasana Taku. The parent company is One MobiKwik Systems Private Limited. The headquarters of the organization is situated in Gurgaon.

PayU

PayU Company is a fintech company owned by Naspers Group. The company was founded in the year 2002. The founders of this fintech company of India are Jose Velez, Martin Schrimpf, Arjan Bakker, GrzegorzBrochocki, Nitin Gupta, and Shailaz Nag. The headquarters of the company is situated in Hoofddorp, Netherlands.

Freecharge

Freecharge is a private owned fintech company in India thatwas founded in the year of 2010. The founders of freecharge are Kunal Shah and Sandeep Tondon. Headquarter of the company is situated in Gurugram of Haryana. It provides number of services to its users such as recharge, bill payments, gifts etc. In the year of 2017, Axis bank acquired freecharge.

Policy Bazaar

Policy Bazar was founded in the year of 2008. The founders of the policy Bazar are Yashish Dahiya, Alok Bansal, andAvaneesh Nirjar. Policy bazaar started out as an insurance comparison website which has now become one of the largest Indian Insurance aggregators. Policy bazaar offers a number of insurance plans such as life insurance, health insurance, motor insurance, travel insurance, etc. to the users so that they can choose according to their needs.

Lendingkart

Lendingkart is a fintech company in India which was founded in the year of 2014. Lendingkart provides a digital lending platform for working capital and business loans for SMEs (small and Medium Enterprises). The founders of Lendingkart are Mukul Sachan and Harshvardhan Lunia. The headquarters of the company is situated in Ahmedabad, Gujarat.

Cleartax

ClearTax helps in providing solutions for Income Tax filing, GST, and Mutual Fund Investments. ClearTax was founded in the year 2011 is one of the leading fintech companies in India. The founders of this Financial-Technology platform are Archit Gupta, Srivatsan Chari, and Ankit Solanki. The headquarters of the company is located in Bangalore.

Mswipe

Mswipe or MswipeTechnologies Private Limited is one of the leading fintech companies that offer mobile-based point of sale services to SMEs (small and medium enterprises). Mswipe was founded in the year 2011 by Manish Patel.

Razorpay

Razorpay is a Bangalore based fintech company in India which was founded in the year of 2014. Razorpay is a digital payment solution integrated via web and mobile providing access to all the modern payment modes such as net banking, e-wallets, credit and debit card, etc. The founders of Razorpay are Shashank Kumar and Harshil Mathur.

There is a number of promising fintech start-ups that are emerging in India such as Bharatpe, Grow, CRED, Digit, etc. Thus we can say that India is becoming a hub of fintech start-ups that are making efforts towards technological innovations. But there is a major section of the society which is still deprived of taking advantage of these innovations. They are not even aware of it and other major issues involve in the protection of stored data. Thus, fintech companies in India still have a long way to go.