Top FinTech Startups in India 2023

Financial Technology is taking off all over the world. In South Asia, the FinTech market is dominated by companies in India. Finding a FinTech startup in India these days is much easier, but how do you know which companies are more poised for sustained growth and success? Our Finnovating Platform helps you invest in startups in India that are much more likely to return your investment and more. 

Obviously, investing can be risky, even in a fertile technological environment like India. That’s why we at Finnovating have developed a cheat sheet. 

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 Top FinTech Startups in India 2023

 Finnovating’s FinTech Platform lets you pursue worthy companies looking for investors. You’ll get contact information, information on the specific product or service each company sells, and a sense where they fit within the larger FinTech marketspace. 

Here are a few options to help you find that perfect startup in India to invest in: 

1. Xebra BizTech: An automated, SaaS unified platform, Xebra integrates business insights, invoicing, expense reports, purchases, inventory, asset management, payroll, HRMS, taxes and banking modules into one system. This helps users get accurate and comprehensive information about all aspects of their business performance and unlocks new growth opportunities by avoiding the hassle of working with many different vendors across platforms and software. 

• Company activities: Accounting, Expense Management Software, Employees Expense Management software, Employee benefits, Neobanks & Challenger, Banks, Tax & Accounting, Personal Taxes Management, Billing & collections, Data, Analytics & Research, Reconciliations, Invoice Digitization Software and Payroll processing.
• Business model: B2B and B2B2C.

 

2. Mobivend: Mobivend is a fast-growing Bangalore-based Internet of Things company that is trying to automate last-mile logistics in unattended retail. With their technology, Mobivend could revolutionize Unattended Automated Retail with their cashless payment and telemetry software. Mobivend offers digital payment solutions with IoT using a network of unattended self-service retail outlets such as Smart Vending Machines and Micro Markets. 

• Company activities: Financial Products Distribution, Neobank and ConTech Robots & Machinery.
• Business model: B2B.

 

3. Paysack: Paysack has your back with their stack. This FinTech platform features ways to embed digital wallets, make card transactions, payments, loans, and even investments all in one application. The platform also offers an API infrastructure layer for custom modifications. The no-code platform makes it very easy to use. 

• Company activities: APIs & Data Aggregation and Banking as a Service (BaaS).
• Business model: B2B and B2B2C.

 

4. Namaste Credit: This platform is an online marketplace where lenders and businesses can communicate and create loans. The Namaste Credit platform and risk scoring algorithm makes it easy to match borrowers and financial institutions in a fully secure environment. 

• Company activities: SME Credit, Open Banking, Asset backed loans, Banking as a Service (BaaS), Mortgage Lending, Mortgage, Lending Risk Management, Neobanks & ChallengerBanks, Underwriting & Pricing, Document automation and Working Capital Loans.
• Business model: B2B and B2B2C.

 

5. Kaleidofin: Kaleidofin is a digital financial service platform for beginners. It allows those without a credit history or very many bank accounts to find financial solutions tailored to them. 

• Company activities: Savings & Micro-Investing and Underwriting & Pricing.
• Business model: B2B.

 

6. BuyUcoin: A leading Cryptocurrency exchange in India since 2016, this Delhi-based, on-ramps platform currently has over 350,000 users, handling over $90 million in digital asset transactions. Its reputation is that it enables crypto traders of all experience levels to trade digital assets. Its mission is “to bring crypto in a billion Indian pockets.” 

• Company activities: Crypto Exchange.
• Business model: B2C.

 

7. TECBee: TECBee offers a wide array of engagement models built to optimize spend and staff utilization using a powerful combination of consulting, tech innovation, and operational expertise. This allows users to receive comprehensive and fully customized solutions that align with their business needs. 

• Company activities: Business Financial Management, Accounting, Controlling & Audit, Labour Force, Analytics and Payroll advance.
• Business model: B2B and B2B2C.

 

8. HostBooks: An automated accounting and compliance software company, HostBooks provides users with a comprehensive platform for accounting, taxes, payroll, and more. Its goal for all users is to reduce the time to get into full compliance by 50% at minimum, saving them at least that much in costs. HostBooks is both an Amazon Web Services consulting partner and an NSDL-approved service provider. 

• Company activities: Enterprise software, Accounts, Accounting, Business Financial Management, Account Reconciliation Software, Business Tax Management Software and Invoice Digitization Software.
• Business model: B2B.

 

9. Antier Solutions: This company is a leading blockchain development entity in India. Antier uses the power of blockchain as well as other cutting-edge technologies such as distributed ledgers and smart contracts to create scalable, asset agnostic applications like white label exchange platforms (P2P, decentralized, and centralized), smart wallets, ICOs, STOs, tokens and other enterprise blockchain solutions. 

• Company activities: Cryptocurrencies & Tokens, Crypto Exchange, Crypto Wallets, Crypto WealthTech, Cryptocurrencies, ICOs & STOs platforms, Crypto Backed Loans, Crypto and tokens bank, Smart contracts and Defi.
• Business model: B2C and B2B2C.

 

10. IDOS: IDOS is a data-driven, integrated platform empowering organizations around the world to automate accounting and financial management, then leverage that data for better growth and profitability. IDOS includes applications for accounting, finance, taxes, and internal control compliance. 

• Company activities: Enterprise software and Supply Chain Finance.
• Business model: B2B and B2B2C.

 

11. OpenTurf Technologies: OpenTurf successfully established a VTO (Virtual Technology Office) in the past three years and effected a Build, Operate, Transfer (BOT) model. They have helped companies without technical skills to adopt technology stack and transition to them effectively, and the people required. 

• Company activities: Enterprise software, APIs & Data Aggregation, Behavioural analytics, Biometrics, Analytics and Architecture. 
• Business model: B2B. 

 

12. Artivatic: Artivatic’s patent pending technology solves complex problems in Insurance for On-boarding, Fraud, Risk Profiling, Underwriting & claims. 

• Company activities: InsurTech, Enterprise software, APIs & Data Aggregation, Fraud prevention & detection, Risk Management, Commercial Insurance and Insurance Distribution & Management. 
• Business model: B2B, B2B2C, B2E and B2G. 

 

13. Finaara: They aim to empower financial institutions to upgrade with efficiency, cost Effective and Digitalized Automated Business with Quick Return on Investment. 

• Company activities: FinTech, Currencies Exchange, Enterprise software, Financial Infrastructure & Operational, Risk Management, Compliance and Remittances. 
• Business model: B2B and B2G. 

 

14. XaasTag: XaasTag is a collaborative marketplace platform that allows Agri Value Chain participants to work with each other for the benefits of FPO and Farmers. 

• Company activities: Supply Chain Finance. 
• Business model: B2B. 

 

15. HyloBiz: Hylobiz – empowering SME’s assists B2B and small/medium-size businesses to manage their business seamlessly connecting their one or multiple business tools and banking infrastructure bringing the real-time business health and cash flows situation in the hands of business owner. 

• Company activities: Enterprise software and Open Banking. 
• Business model: B2B. 

 

16. Clairco: At Clairco (Clean air company) they are making the adoption of indoor air purification affordable, measurable and hassle free through performance driven business models and leveraging AI, ML & IoT technologies to bring in technological innovation in the ventilation systems of commercial real-estate. 

• Company activities: Commercial Real Estate and Monitoring solutions. 
• Business model: B2B and B2B2C. 

 

17. Sequretek: Sequretek is a global cybersecurity company that offers end-to-end security in the areas of enterprise threat monitoring, incident response, device security, identity & access governance through their own AI-driven Percept Cloud Security Platform. 

• Company activities: Cybersecurity, Information Security Reporting and Cloud security. 
• Business model: B2B. 

 

18. Gypsee AI: Gypsee is building a drive safe mobile application for drivers to renew their auto insurance policies at a fair price and receive perks with gypsee safe coins. 

• Company activities: Behavioural analytics and Commercial Insurance. 
• Business model: B2B, B2C and B2B2C. 

 

19. Propstack: The leader in India for Commercial Real Estate information, analytics & marketing services, Propstack aims to be the industry’s most tech-advanced, professional & non-conflicting Commercial Real Estate information provider in India. 

• Company activities: Data, Analytics & Research. 
• Business model: B2B and B2C. 

 

20. thebillwala: Online portal developed to create a B2B Business System to enhance the chances of earning money for retailers.

• Company activities: Providing a platform for retailers to earn money through B2B business.
• Business model: B2B.

 

21. SysArc Infomatix: FinTech company that offers customized software solutions to financial institutions, including banks, credit unions, and financial services companies. They specialize in providing digital transformation, business process automation, and regulatory compliance solutions to their clients.

• Company activities: Providing customized software solutions for financial institutions.
• Business model: B2B.

 

22. f2 fintech: Digital lending platform that offers personal loans and small business loans to customers. They use technology and data analytics to evaluate creditworthiness and streamline the loan application and approval process.

• Company activities: Providing a digital lending platform.
• Business model: B2C.

 

23. Neosurge: FinTech company that offers a suite of software solutions for financial institutions, including banks and credit unions. They specialize in providing digital banking solutions, including mobile banking, online banking, and digital payments.

• Company activities:Providing software solutions for financial institutions.
• Business model: B2B.

 

24. GreenHat: FinTech company that offers a range of services to help financial institutions manage their risk and compliance. They provide risk management solutions, including fraud prevention, anti-money laundering (AML), and Know Your Customer (KYC) compliance.

• Company activities: Providing software solutions for financial institutions.
• Business model: B2B.

 

25. varthak: FinTech company that offers a digital platform for small and medium-sized enterprises (SMEs) to manage their finances.

• Company activities: Providing a digital platform for SMEs to manage their finances.
• Business model: B2B.

 

26. PiChain: FinTech company that offers a blockchain-based platform for secure and efficient data sharing in the financial industry. They provide solutions for data privacy, data management, and data analytics.

• Company activities: Providing a blockchain-based platform for data sharing in the financial industry.
• Business model: B2B.

 

27. FINOFII: FinTech company that offers a range of financial planning and investment services to customers. They provide personalized investment advice and portfolio management services to help customers achieve their financial goals.

• Company activities: Providing financial planning and investment services to customers.
• Business model: B2C.

 

28. rloans: Digital lending platform that offers personal loans to customers. They use technology and data analytics to evaluate creditworthiness and streamline the loan application and approval process.

• Company activities: Providing a digital lending platform.
• Business model: B2C.

 

29. SterlCent: FinTech company that offers a digital platform for cross-border payments and foreign exchange. They provide services to help customers manage their international payments and currency exchange transactions.

• Company activities: Providing a digital platform for cross-border payments and foreign exchange.
• Business model: B2C.

 

30. NoBrokerHood: FinTech company that offers a digital platform for apartment complex management. They provide a range of services, including billing and payment management, communication tools, and security management.

• Company activities: Providing a digital platform for apartment complex management.
• Business model: B2B and B2C.

 

How to Find the Top Startups in India to Invest in or Collaborate With 

The above list, all collected from Finnovating’s FinTech directory platform, shows robust businesses that need investors or collaborators. Finnovating is your one-stop shop to find investment-worthy companies all over the world. The Finnovating database gives you all the information you need to start your due diligence on all the companies listed above. You’ll be able to contact the company leaders directly, view their products and branding, and learn a little bit more about their overall market share and brand mission. 

This information is all crucial to making the difficult decision of which top FinTech startups in India to invest in. Many companies are looking for collaboration or guidance, as well. Leveraging your own experience in investing and our powerful platform, you will be able to find excellent options for your next big startup investment. 

Keep an eye on Finnovating’s database of worthy startups looking for investors to see up-to-date information.