Top Fintech Companies in India You Should Know
From QR code payments at any of your favourite tea points to making investments in stocks with just a few taps on your phone, fintech has made financial services more accessible. It’s 2025, and whether we see rural or urban areas, money management does not require standing in a long queue at a bank and wasting time filling out a bunch of forms. Technology has revolutionised how we pay, borrow, save, and invest, providing us with speed, transparency, and ease. This is what fintech companies can do; they are changing how financial services are provided in India.
But what is fintech? Fintech is the abbreviation for “financial technology”. In other words, such companies utilize technology to enhance the intelligence and efficiency of their financial services. Fintech companies are related to online money transfer, lending, insurance, stock trading or personal finance.
The market was valued at USD 111.14 billion in 2024, and it is expected to reach USD 421.48 billion by 2029, which represents a CAGR growth of 30.55%. Much of this growth is organic growth, with companies promoting their market presence without the use of mergers or acquisitions by utilising internal resources.
This article highlights the top fintech companies in India, focusing on their USPs and the key factors behind their success.
Table Of Content
What is a Fintech Company?
Top 10 Fintech Companies in India Driving the Digital Finance Revolution
The Bottom Line
Frequently Asked Questions
What is a Fintech Company?
Before you read the list of India’s leading fintech companies, it’s helpful to know a few key points up front.
A “fintech” company is a company that uses advanced technology to improve, automate or innovate the financial service. The term “fintech” is a combination of the words “finance” and “technology” used to create more efficient or accessible solutions across payments, lending, investments, insurance and financial advisers.
Traditional banks or financial services institutions still rely heavily on paperwork, manual or in-person processes, formal review processes, and an often unmanageable timeline for all the related financial decision metrics based on reviews of people using apps and websites, versus a better, faster, cheaper, and user-centric experience using technology.
As an example:
- Digital wallets like Paytm and PhonePe allow quick transfer of money between users,
- Digital platforms like Zerodha or Groww allow users to invest in stocks or mutual funds with a swipe or click, without brokers.
- Insurtech companies like PolicyBazaar allow users to compare and buy insurance policies in minutes.
Top 10 Fintech Companies in India Driving the Digital Finance Revolution
We can say that India is now home to some of the fastest-growing fintech businesses in the world and is backed by billions in funding and millions of users. Let’s look at the top 10 fintech companies in India that are powering this evolution as they each offer innovation, convenience and access to the financial ecosystem.
1. Paytm
Website: https://paytm.com/
Founded by Vijay Shekhar Sharma in 2000, Paytm is one of the biggest names in Indian Fintech. Paytm began as a mobile recharge service and then transformed into an extended digital financial services ecosystem.
Paytm now offers everything from UPI transactions, QR merchant payments, and online recharges to booking flights, trains, and movies. With services such as the Paytm Wallet and Paytm Payments Bank, the company has been key in generating cashless transactions for small vendors and local and rural Indian shops.
The company made headlines in 2021 with its landmark IPO under parent company One97 Communications. Its success has been to make digital payments mainstream for urban and rural users.
USP: Paytm pioneered e-wallets at a time when digital payments were almost unheard of in India, thereby leading the charge.
2. Lendingkart
Website: https://www.lendingkart.com
Accessing credit has traditionally been a significant barrier for India’s small and medium enterprises (SMEs). Lendingkart, started in 2014 by Harshvardhan Lunia and Mukul Sachan, developed a data-backed lending offering to address this access gap.
Unlike traditional banks, which rely on multi-page applications with pages of paperwork and collateral, Lendingkart as one of the most popular fintech companies was able to use AI and machine learning technologies to assess creditworthiness.
Lendingkart customised its own models, and provided financing and analysed more than 7,000 variables to generate profiles of borrowers, and more importantly, those borrowers without a credit history (meaning, they never borrowed money).
As a result, SMEs may receive working capital loans in less than 72 hours, allowing small businesses to access funds to grow without the delays of the bureaucratic banking system.
USP: One of the first platforms in India to develop AI-powered underwriting created a market for those businesses that banks tended to overlook.
3. MoneyTap
Website: https://www.moneytap.com
MoneyTap was established in 2015 by Bala Parthasarathy, Kunal Verma, and Anuj Kacker as the first credit line comparable to an app in India. One of the leading fintech companies, MoneyTap, allows users to take instant personal loans of up to ₹5 lakhs in a paperless, automated way through a wholly digital process, unlike traditional personal loans.
This fintech company uses a credit line model, which means it charges interest only on the amount used; this has made it exponentially more convenient for customers to use it than a personal loan. Whether it is a medical emergency, paying tuition fees, or travelling, a user can get money quickly and instantly, without needing to pledge collateral.
MoneyTap has partnered with some of the top banks in India, which provides further outreach to users seeking short-term credit. It has also become very popular with young professionals wanting to pursue short-term credit.
USP: Lifelong credit lines available through a smartphone, regardless of a consumer’s credit history.
4. Instamojo
Website: www.instamojo.com
Instamojo began with one simple but colossal idea- to help small businesses go digital. After being founded in Bengaluru, Instamojo was one of the first fintech companies to introduce payment links in India, allowing merchants the ability to effortlessly go digital without having a website or PoS machine.
Over the years, Instamojo has matured into a full-stack platform for micro-entrepreneurs. It offers anything from online stores and payment gateways to insights and digital marketing tools to over 500,000 small sellers in India.
The company has taken a great step to lower the bar for enterprising small businesses, which has helped support India’s growing gig and entrepreneurial economy.
USP: First Indian company to introduce payment links in India, while providing a level of flexibility that micro and small businesses have never been offered before.
5. Razorpay
Website: https://razorpay.com/
Honestly, no list of top fintech companies in India is complete without Razorpay. Launched in 2014 by Harshil Mathur and Shashank Kumar, Razorpay has become a governing player in the payment gateway space.
Razorpay offers payment acceptance solutions on debit/credit cards, UPI, wallets and net banking options. It simply takes care of both payments collection and also vendor payouts from businesses, subscription management or invoicing. Razorpay’s platform is a single-stop shop for all payments and digital finance management, which is also an invaluable tool for businesses to manage the cash-flow process efficiently.
Being one of the most recognised fintech companies, it has also launched RazorpayX (business bank account services) and Razorpay Capital (working capital loan) and is now taking steps to expand into neobanking.
USP: End-to-end financial solutions for businesses, not just processing payments.
6. Shiksha Finance
Website: https://shikshafinance.com/
Shiksha Finance is a Chennai-based NBFC with a meaningful impact. Unlike most NBFCs, it doesn’t serve mainstream loans. It serves education-related loans for institutions and students.
The company incentivises infrastructure loans to schools. Also, they offer student loans to families who cannot afford tuition costs. Since many borrowers have no proof of income, they work by creating a psychometric model to assess creditworthiness.
USP: A niche fintech focused on providing quality education for underserved communities.
7. Pine Labs
Website: https://www.pinelabs.com/
Pine Labs was founded in 1998 and is one of the oldest fintechs on this list. The company originally served the petroleum retail industry, but rebranded itself in 2012 and became a leading provider of PoS (Point of Sale) solutions.
It is another one of the prominent fintech companies in India that currently powers over 350,000 PoS terminals across India and Southeast Asia, and its cloud-based intelligent PoS platform enables payments, EMIs, loyalty, and merchant financing solutions.
Pine Labs integrates payments with commerce-enablement services and forged credibility with retail merchants of all sizes, and has become a must to work with.
USP: Among the first to introduce NFC-based and unified PoS solutions to India.
8. ZestMoney
Website: https://www.zestmoney.in/
In a country with millions without formal credit histories, there’s one of the most amazing fintech companies, i.e., ZestMoney, stepping in to bridge this gap. Established in 2015, the Bengaluru-based startup is providing BNPL (Buy Now, Pay Later) solutions using AI credit assessment technology.
ZestMoney’s multiple loans offer instant loan possibilities for even those users without any previous credit scores because of its artificial intelligence decision engine. It’s created accessibility to online shopping, travel purchases, and educational finance for these middle-class families.
With the leading e-commerce players as partners, ZestMoney has established itself in the consumer lending space.
USP: AI-powered underwriting that provides access to credit to customers typically left out by traditional banks.
9. PolicyBazaar
Website: https://www.policybazaar.com/
Since 2008, PolicyBazaar has been the premier marketplace for comparing insurance products. Whether it’s health and motor insurance products or term life insurance, being one of the popular and trustworthy fintech companies, it provides customers the ability to compare costs, features, and benefits as part of a purchase evaluation.
Additionally, the platform offers the ability to manage the renewals, cancellations and claims, leading to much greater transparency in managing insurance needs. Strongly backed by some of the world’s largest investors, PolicyBazaar has grown to a reputable brand with millions of customers.
USP: They democratize insurance for consumer transparency and multiple options.
10. InCred
Website: incred.com
InCred is a Mumbai-based Non-Banking Financial Company (NBFC) that specialises in personal, education, SME and home loans leveraging technology. Unlike many lenders that rely simply on documentation to assess risk, InCred looks to enhance that process with a significant amount of weight attributable to data analytics, which not only optimises risk underwriting but also supports reach for previously underserved borrowers.
As one of the most renowned fintech companies, InCred believes that it can be an alternative for consumers who might be seeking education financing for a student, to someone who is a small entrepreneur that requires working capital, to use InCred as a modern alternative to traditional banking.
USPs: Provides credit when traditional banks provide credit to individuals with no established credit experience.
The Bottom Line
The financial technology wave taking hold in India has created a new era of financial involvement and innovation. These fintech companies are not merely startups; they are ecosystem creators who are solving real problems in our society: from helping a street vendor accept UPI payments, to helping SMEs quickly access unsecured, important loans, to helping students not drop out of school due to fees, etc.
Indeed, the fintech sector will further grow with the help of government supportive regulation and increasing confidence of users and investors. The next phase of fintech companies can be neobanks, blockchain-enabled solutions, deeper financial inclusion, and more.
So, if you’re ready to be a part of this future of finance and want to gain a deep understanding, Jaro Education is here to support your dream. Just visit our website to explore our online courses and certification programmes in the field of technology and finance that can turn the tide in your career. Visit us to learn more.
Frequently Asked Questions
Fintech companies use technology to make financial services—like payments, lending, investing, or insurance- faster, easier, and more affordable than traditional banks.
India’s youth-driven population, widespread smartphone usage, the success of UPI, and government initiatives like “Digital India” have fueled rapid fintech adoption.
Some of the leading fintech players include Paytm, PhonePe, Razorpay, PolicyBazaar, Groww, Lendingkart, and ZestMoney. Each specialises in different areas of finance.
Fintech makes money management simple, whether it’s paying your local chaiwala via QR code, getting instant personal loans, or comparing insurance policies in minutes.
