List of FinTech startups in Mumbai
1. FINO PayTech
Key People : Rishi Gupta.
Investors: Bharat Petroleum Corp.
Funding: USD 37.6M
Fino PayTech, a startup headquartered in Mumbai and founded in 2006, provides end to end customer sourcing and servicing solutions to the banking sector. They’re a banking technology platform aimed at being the preferred choice for customers.
2. ItzCash
Key People : Naveen Surya
Investors : Matrix Partners
Funding : USD 25M
ItzCash were the first to offer prepaid cash cards being a non-bank startup. They are now India’s leading holistic payment solution company. Their aim is to empower citizens to handle their money in a safe and convenient manner.
3. Mswipe
Key People– Manish Patel
Investors : Matrix Partners India, Axis Bank
Funding : USD 25M
Mswipe is a point of sale (POS) payment solution. This Mumbai based FinTech startup helps vendors accept all debit and credit card payments via their wisepad. The money then gets directly transferred to their bank account.
Also Read: Top Startups in India 2020
4. Citrus Pay
Key People : Amrish Rau, Satyen V Kothari, Jitendra Gupta
Investors :Ascent Capital, econtext Asia and Beenos Asia, Sequoia Capital
Funding : USD 32.5M
Citrus Pay is a payment gateway for merchants and a digital wallet for customers. Merchants can be assured their transactions are secure and payments can be smooth. Citrus Pay is compatible with all devices like iOS, Android, Windows, etc. Being a beloved app by its customers, Citrus Pay secured its spot in Mumbai Coworking’s list of FinTech startups in Mumbai.
5. MoneyOnMobile
Key People : Harold Montgomery.
Investors : Caplain Venture, Yes Bank
Funding : USD 10M
MoneyOnMobile, authorised by the RBI, has its reach in the remotest parts of the country. They set up semi closed payment systems for registered users to purchase goods and services from registered vendors.
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6. Transerv
Key People : Anish Williams.
Investors : Faering Capital, IDFC SPICE Fund, Micromax Informatics
Funding : USD 15M
Founded in 2010, Transerv is a leading digital payment enterprise. Transerv launched India’s first social wallet, Udio, for sending and receiving money and gifts. Later, to keep up with the customer demands, they added features like splitting bills, group payments, recharge, utility bill payments, and much more.
7. PayMate
Key People : Ajay Adiseshann, Probir Roy.
Investors : Kleiner Perkins Caufield & Byers, Mayfield Fund, Sherpalo Ventures
Funding : USD 14M
PayMate is a B2B payment platform that supports multiple forms like NEFT, cards, netbanking, etc. It’s easy to use and one can easily view all their records at one spot. PayMate ensures the money is securely transferred directly to your business bank account. Being a cloud based service, users can easily access all their information by logging into any device.
8. Coverfox
Key People : Varun Dua, Devendra Rane.
Investors : Accel Partners, SAIF Partners
Funding : USD 12M
Coverfox is a place for individuals to compare insurance prices before choosing what suits them best. Coverfox displays the best offers to choose from that are suitable to you. They provide car, health, travel, two wheeler insurance as well as insurance renewal options.
9. Cogencis
Key People: Pankaj Aher, Kalyanram Kodakalla.
Investors : Samara Capita
Funding : USD 16.5
Cogencis Information Services Ltd. is an information services startup. It provides real-time news on market data and finance to help discerning customers. They are a customer driven business and have products that cater to the informational needs of customers based on what they need. They do not believe in giving the customer irrelevant information.
10. Heckyl
Key People : Mukund Mudras, Som Sagar, Jaison Mathews, Abhijit Vedak.
Investors : IDG Ventures India, Seedfund
Funding : USD 4.75M
Heckyl, a financial information platform, provides analytical services to investors, researchers and traders. They provide market analysis, news analysis, sentiment analysis, global market trends, and predictive data analysis. This helps them understand the past and get insights for the future. They cover millions of news sources globally to give you every detail you might need.
List of FinTech Startups in Bangalore
11. Capital Float
Key People : Sashank Rishyasringa, Gaurav Hinduja.
Investors : SAIF Partners, Sequoia Capital
Funding : USD 41M
Capital Float was founded with the mission to help SMEs raise credit and grow their business. They aim to eliminate the troubles like sky-high interest rates faced by entrepreneurs trying to raise funds by offering them flexible, short term loans.
12. Ezetap
Key People – Abhijit (Bobby) Bose, Bhaktha Keshavachar.
Investors : Helion Venture Partners, Social Capital,
Funding : USD 35M
Ezetap, founded by Abhijit and Bhaktha, is a POS card swiping solution for merchants. They aim to be the go-to platform for businesses to carry out financial transactions using any method preferred by customers.
13. Tracxn
Key People : Abhishek Goyal, Neha Singh.
Investors : Binny Bansal, Ratan Tata, Sachin Bansal
Funding : USD 13.5M
Tracxn, founded by investors from Sequoia Capital and Accel Partners, has the largest team of Analysts tracking startups globally. Their technology platform tracks over 30+ million companies for Venture Capital and Corp Dev. Some of the 230+ sectors they track include Enterprise Infrastructure, Enterprise Applications, Consumer, Retail, Gaming, Technology, HealthTech, EdTech, Energy, Auto, and Food.
14. Fintellix
Key People : Vivek Subramanyam, Anup Pai
Investors : IDG Venture, Sequoia Capital
Funding : USD 15M
Fintellix has built a platform in its 5th year of development. Two loosely coupled components include DataHub and Data Platform. DataHub aggregates and organizes rich, granular data from multiple resources. Data Platform provides a “codeless” interface to convert the data into reporting outputs and submissions.
15. QwikCilver
Key People : Pratap TP, Kumar Sudarsan.
Investors : Amazon, Sistema Asia Fund
Funding : USD 20M
Qwikcilver is a B2B startup that provides seamless, end-to-end store valued programs and technology solutions. They have a Electronic Gift Card Management System that helps support the prepaid gift card paradigm in India as well as Asia.
16. MoneyView
Key People : Sanjay Aggarwal
Investors : Tiger Global
Funding : USD 8.50M
MoneyView, an extremely helpful app for people facing a cash crunch, helps you find nearby ATMs with cash. MoneyView also has an app for money management. Easily handle all your bill payments, track your spending patterns, view your current balance, and also split bills with this app available on Google Play.
17. JusPay
Key People : Vimal Kumar, Ramanathan RV.
Investors : Accel Partners, Ashish Hemrajani
Funding : USD 5.82M
JusPay is a payment browser with an aim to revolutionize digital payments in India with secure, reliable, efficient and cost effective solutions. They’re powering payment for some of the biggest companies like Amazon.in, BookMyShow, and Snapdeal, and are one of the best in our list of FinTech startups in Bangalore.
18. CustomerXPs
Key People : Rivi Varghese, Balaji Suryanarayana, Aditya Lal, Sandhya V
Investors : JAFCO Asia, Microsoft Accelerator
Funding : USD 4M
CustomerXPs, founded by Rivi, Aditya, Balaji, and Sandhya, offer Enterprise Financial Crime Management (EFCM), Anti-money Laundering (AML), and Customer Experience Management (CEM) products for Tier-1 global banks. They aim to make software products that are more Human like with real-time functions – i.e. a right brain software.
19. ComplyGlobal
Key People : Suryaprakash Kukyan, Kishore Mirchandani, Rupesh Kakarai, Sandeep Sahadevan, Ashwin Uttamchandani.
Investors : IBCC, Tribeca Angels
Funding : USD 2.5M
ComplyGlobal, a cloud-based software, is a real-time compliance platform that helps you govern and track your regulatory requirements. Their list of features include compliance updates, global proactive control, scalable platform, and task management and workflow.
20. BankerBay
Key People : Romesh Jayawickrama.
Investors : David Toh, Ernst & Young, Nomura Securities
Funding : USD 5M
BankerBay is the first deal origination platform in the world. With a simple 3-5 minute process, they help corporates raise capital by connecting them to the relevant providers of capital. Members can also buy and sell companies, locate potential investments and new clients using BankerBay’s complex algorithmic approach.
List of FinTech Startups in Chennai
21. BankBazaar
Key People : Adhil Shetty, Arjun Shetty, Rati Shetty.
Investors : Sequoia Capital, Walden International
Funding : USD 79.75M
BankBazaar, true to its name, enables users to search and compare financial products for free before applying. Members can apply for loans for their car, education, home, etc. They also offer applications for debit and credit cards along with insurance and investments. Providing a one-stop solution to all banking queries, they’ve earned their spot as one of the best in our list of FinTech startups in Chennai.
22. Chargebee
Key People : KP Saravanan, Thiyagarajan T, Rajaraman Santhanam, Krish Subramanian
Investors : Accel Partners, Tiger Global Management
Funding : USD 6.17M
Chargebee, founded in 2011 and backed by Accel Partners and Tiger Global, helps you handle recurring payments. Once you enter your card details, Chargebee automatically handles any subscriptions, recurring payments, invoicing, etc. They support top payment gateways in 50+ countries like PayPal and wepay.
23. CreditMantri
Key People : Sudarshan R, Gowri Mukherjee, Ranjit Punja
Investors : Accion Venture Lab, Elevar Equity, IDG Ventures India
Funding : 2.5M
CreditMantri helps users understand everything they need to know about credits and get their CIBIL score and maximize their credit potential. They’ve delivered many firsts in the market such as a real-time rule engine which matches with lender credit criteria and borrower credit profile.
24. FundsIndia
Key People – C.R. Chandrasekar, Srikanth Meenakshi.
Investors : Inventus Capital Partners, Foundation Capital, Faering Capital
Funding : USD 15.41M
FundsIndia is India’s first online-only investment platform. They provide investors access to a wide range of investment products like mutual funds. They also give you access to stocks from the BSE, and various other investment products in one convenient online location.
Other Top FinTech Startups in India:
25. Faircent
Key People – Rajat Gandhi , Vinay Mathews, Nitin Gupta.
Investors : Brand Capital, JM Financial
Funding : USD 5.75M
Faircent, a Gurgaon-based FinTech startup, provides a virtual marketplace where borrowers and lenders can interact directly to carry out peer to peer lending. They eliminate financial intermediaries like banks who earn high margins on your transactions. Though not a part of the other major lists, it has earned its spot in our list of FinTech startups in India.
This list of FinTech startups in India are on a mission to bring a change and solve a variety of problems faced by people. From business issues to investments and individual wealth management problems, there’s a solution to everything. With the growing digitization, the coming years are going to witness a massive advancement in the FinTech startup industry. There are many more FinTech startups to look out for and we will keep this list updated with the same. If you think we’ve missed out on a startup, do let us know in the comment section below.
If you’re a FinTech startup looking to expand, give us call at +91 87 67 427 427 or email us at buzz {@] sutrahr.com and we’ll help you out! 🙂
