Fin-Tech Firms use innovation and technology for leveraging available resource, for competing in the marketplace of financial institutions. In addition to this, these companies can act as intermediaries in the delivery of financial services. These types of organizations deal with payment and remittances. One that precisely deals in consumer lending can also be considered as the same. This group is classified into several categories such as companies that sell insurance or companies engaged in personal finance management. Besides, the companies deal in investment enabling of some sort can also be termed as Fin-Tech firms. Some others deal in render low interest business loans to startup companies for their growth and expansion. Here we have listed some of the startup FinTech Firms.
Started as a mobile wallet, this startup is spreading its wings into everything in Fin-Tech from. It has recently received funding of 50 million USD Series-C round from Japanese and Taiwanese investors in May. Total funding raised by this startup is around 87 million US dollar. Cash pickup network and other similar innovation by this startup hold the key to its huge expansion and growth in recent times.
This startup is known for providing prepaid cash cards to its esteemed users in India. It serves a big requirement in India where credit card use is scarce. Book My Show has recently partnered with this startup as its solutions are highly useful to the Indian user. In order to attain maximum consumer approval and satisfaction, this startup has enabled both the banked and the unbanked to use card payments.
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This startup is a unique marketplace for different types of loan. 60 million US dollar in series C funding was raised by this startup. Funding was led by amazon last year and it was also ventured into Singapore. This startup is very helpful for other startup and business ventures looking for business loans with quick approval and minimum paperwork. It has helped a large number of startup companies that find hard to get finance from banks for working capital, to get a secured business capital.
This startup is also a marketplace just like Bank Bazaar. Consumers can compare financial products by using this marketplace in the simplest way possible. However, the main focus of this marketplace is different types of insurance policies. 40 million US dollar in a series D round was raised by this startup last year.
Fin-Tech sector is going to be pillar of Indian Economy
Over 1.2 billion US dollar in funding was attracted by FinTech companies in India, which has become one of the hottest sectors in last year. This year, we have seen a deal like 890 million US dollar is invested in Alibaba-backed Paytm that is Delhi-based Fin-Tech Company. Apart from Paytm, there are several startup companies in India that are more capable and have the potential to become unicorns with more than one billion US dollar in valuation in near future.