Note from the Publisher: We’ve written frequently about fintech all over the world, but we have not talked much about the rise of fintech in India. And yet, just as in Europe, Asia and the US, there is MASSIVE growth in the sector going on in India, although not quite at the pace as we’ve seen in China thus far in 2016. We’re providing two articles in this piece for our readers to update themselves with current fintech trends occurring in this vast continent. One is an overview of the landscape at large and the second is a feature on a recent substantial VC deal there. Make sure to click through on the first article as there is an excellent infographic in that story and a detailed breakdown of fintechs by sector.
“There are around 600+ FinTech startups in India and more than half are more than PowerPoint startups. Out of the 600 FinTech startups in India, around 65+ have raised funding (some of them very recently). There is money pouring in with some big investments to be announced in next two quarters. Also, there have been few good exits.”
“Mumbai-based non-banking financial company InCred Finance has raised $75 Mn in a funding round led by former Deutsche Bank co-CEO Anshu Jain and private equity firms. Several other angel investors also participated in this round…..
With a capital base of around INR 500-600 Cr, InCred will now focus on business with SME financing and three retail-focussed ventures – unsecured consumer finance, mortgages and education loans.”