Articles #India

Indian Fintech Startups to Watch in 2024

For entrepreneurs and business owners, the fintech industry presents an exciting frontier of opportunities. The buzz surrounding fintech startups is hard to ignore, particularly in startup hotspots like India where the vibrant startup culture is driving forward innovation at an impressive pace. The surge in creativity and technological advancements is transforming the financial sector from the ground up, leading to the emergence of a new breed of startups. These daring enterprises are challenging the status quo, disrupting traditional banking systems, and setting a new standard for financial services.

Indian Fintech Startups to watch in 2024

The importance of observing, learning from, and drawing inspiration from these fintech startups cannot be overstated. They offer a blueprint for success, demonstrating how to innovate, disrupt, and thrive in a competitive industry. This is particularly the case in India, a hotbed of startup activity and a country that is leading the charge in fintech innovation.

In this comprehensive guide, we delve deeper into the realm of Indian fintech startups. We shine a spotlight on some of the most promising and emerging companies that are not just surviving, but thriving in this dynamic and fast-paced sector. These startups are redefining what is possible in the financial industry and their stories are a source of inspiration for entrepreneurs and business owners the world over.


Zolve, a groundbreaking fintech startup, is revolutionizing the way international citizens navigate the financial landscape of the United States. By focusing on simplifying financial obstacles that often stand in the way of achieving the American Dream, Zolve is creating a more accessible path for aspirational individuals from all corners of the globe. Their comprehensive suite of financial products, which includes US checking accounts and credit cards, has been meticulously designed with the unique needs of international citizens in mind. Moreover, they also offer visa assistance to further smooth the transition process, making their services a one-stop-shop for financial support.

With a completely online application process, Zolve eliminates the traditional need for in-person bank visits, thereby offering a seamless, hassle-free experience for their customers. This digital-first approach not only modernizes the process but also makes it more accessible and convenient for individuals living abroad. The Zolve team is a diverse collective of specialists hailing from various domains such as engineering, compliance, credit, and decision infrastructure. Each member brings a wealth of knowledge and expertise to the table, all dedicated to one mission: aiding individuals in their quest to succeed in the US.


BharatPe, a trailblazing fintech startup that was founded in India in 2018, has been dedicatedly crafting inventive financial solutions that cater specifically to the needs of small businesses. With their innovative approach, they have been able to introduce a first-of-its-kind interoperable UPI QR payment solution, which is a landmark achievement as it charges no merchant discount rate (MDR). This groundbreaking initiative has allowed them to cement their position as a leading, all-encompassing fintech platform within the competitive Indian market.

However, their impressive business strategies are not confined to payment solutions alone. In an impressively short span of time, they have boldly ventured into the realm of unsecured lending. This has been accomplished in association with non-banking financial companies (NBFCs) that are sanctioned by the Reserve Bank of India (RBI). In addition to this, they have also unveiled the BharatSwipe card machine, which is designed to further simplify digital transactions for their users. It is testament to their continuous efforts in diversifying their portfolio and enhancing their offerings for their customer base. Their relentless pursuit of innovation has led to them becoming India’s third-largest P2M UPI payment provider, a commendable achievement that attests to their competitive edge and unique value proposition.

Grip Invest

Grip Invest is a game-changer in the investment sector, completely revolutionizing the way individuals invest their money. It is expanding the horizons for potential investors by offering them a variety of opportunities that go beyond traditional options like stocks, fixed deposits, and gold. Situated at the forefront of financial innovation in India, Grip Invest seeks to reinvent financial products. It does so by providing comprehensive information on a wide array of factors including, but not limited to, commercial terms, potential returns, and detailed profiles of partner entities for each investment opportunity.

What sets Grip Invest apart from its competitors is its unique combination of cutting-edge technology and meticulous due diligence. With a platform that is currently being utilized by over 250,000 investors, it offers a seamless, digital investing experience complete with digital KYC procedures, e-signing, and streamlined payment processes. Grip Invest’s mission is to completely transform the way users create wealth. They aim to make the investment process as straightforward as possible, eliminating unnecessary complexities and providing a user-friendly platform for individuals to grow their wealth.


FinAGG is a pioneering entity providing a unique solution for India’s small and medium-sized enterprises (SMEs) in the form of invoice-based financing. This innovative approach addresses the critical issues faced by these businesses, considerably aiding in their expansion efforts. The driving force behind this initiative is the leadership team’s extensive expertise spanning across various domains such as banking, finance, supply chain, and technology, which significantly boosts the realization of their objectives. They have also forged strategic partnerships with esteemed organizations like Tata Capital and Small Industries Development Bank of India (SIDBI). These alliances not only grant them access to affordable capital but also help them establish valuable connections within the Indian Government, thereby facilitating their operations.

Moreover, FinAGG has managed to garner the support of early investors, including Prime Venture Partners, BlueOrchard, and BLinC Invest. These entities have reinforced the mission of FinAGG by forming strategic alliances, providing them with the required backing to actualize their vision. Capitalizing on this robust support system, FinAGG has set its sights on accelerating the growth of SMEs in India. They plan to achieve this through their unique tech-based product, designed specifically to cater to the needs of these businesses. This is a clear demonstration of their commitment to fostering the development of the Indian SME sector.


Operated as a fully digital bank, Jupiter isn’t bound by the constraints of brick-and-mortar establishments. This allows it to provide a seamless and highly accessible platform for managing one’s finances with just a few taps on a smartphone screen. The digital nature of Jupiter extends beyond just the platform; it also allows for convenient features such as instant digital account creation, meaning users can start banking without any of the usual delays or paperwork. One of the standout features of Jupiter is its real-time spending analysis. This feature provides users with immediate insights into their spending patterns, helping them manage their finances more effectively and make informed decisions about their money.

Another aspect that sets Jupiter apart is its unique rewards system, known as “Jewels”. This system incentivizes users to engage more with the platform and their own financial management, adding a gamified element to banking that isn’t typically found in traditional institutions. Moreover, Jupiter has made a commitment to transparency and fairness that is reflected in its fee structure. Unlike many banks, Jupiter does not impose any hidden charges on its users. Additionally, it does not enforce any minimum balance requirements.


KreditBee, an innovative instant personal loan platform, stands out in the crowded financial market with its unique and advantageous features. Offering services to a broad spectrum of users, including both self-employed entrepreneurs and regular salaried individuals, it provides loan amounts ranging from a modest sum of $12 to a substantial amount of $60,000. This wide range ensures that it caters to diverse financial needs, whether for small, short-term expenses or larger, long-term investments.

The platform’s allure lies not only in its versatility but also in its user-friendly, efficient approval process. By eliminating unnecessary bureaucracy and complex procedures, KreditBee ensures a smooth and speedy loan application process. Users can apply for a loan and expect the funds to be transferred directly into their bank account within a mere 15 minutes from the moment of approval. The defining feature of KreditBee that truly sets it apart from its contemporaries is the immense flexibility it offers in terms of loan amounts and repayment durations. It effectively addresses a variety of financial needs without any compromises, thereby providing a tailored, customer-centric service.


Finhaat stands as a unique and innovative player in the rapidly evolving fintech sector. This company, with a strong focus and dedication, is committed to extending essential financial services to individuals residing in the rural and semi-urban areas of India. They have identified and acknowledged a significant void in these regions, where fundamental financial services such as insurance are not just limited but are often non-existent.

Motivated by this glaring disparity, Finhaat has embarked on a mission of making financial services more accessible to these communities. They are not just providing services, but are essentially bridging the gap between the financial sector and the underserved communities. Their goal is not merely to provide, but to empower these communities with financial tools and resources that have been inaccessible to them for a long time. Finhaat offers a wide array of carefully selected and meticulously crafted financial products. These products are not generic, but are specifically tailored to cater to the unique needs and requirements of these often ignored communities. This attention to detail ensures that their financial solutions resonate with the lifestyles and financial constraints of their target customers.


Redefining the boundaries of innovation in the fintech sector, the startup known as Velocity is steadfast in its commitment to delivering financial products that are superior in quality, speed, and adaptability in comparison to traditional banking institutions. At this moment, the company’s focus is predominantly on ecommerce brands, identifying them as a key sector for growth and utilisation of their unique financial services. Through its innovative revenue-based financing model, Velocity has the capability to offer up to $240,000 in financing. This is accomplished without the need for equity dilution or personal guarantees which are typically required by more conventional financial institutions.

At the heart of Velocity’s mission is the empowerment of entrepreneurs, enabling them to realize their business aspirations by making funding easily accessible. This is achieved through a simple exchange of online data, breaking down the barriers that often complicate the funding process. Velocity is headquartered in the bustling tech hub of Bangalore, but its influence extends beyond with additional branches situated in Gurgaon and Mumbai, reinforcing their commitment to supporting businesses across the country.


Mylapay, a standout player in the highly competitive fintech startup landscape of India, has managed to carve out a strong and distinct niche for itself in the country’s rapidly evolving financial technology industry. The company has made its mark by specializing in facilitating online payments. At the core of their operations is a unique 3DS Server product that guarantees quick and secure authentication. This technology significantly simplifies and eases the process of digital transactions, making it more user-friendly and reliable for customers.

Their flagship product, known as IntelleEngine, has been designed to optimize and streamline the post-payment operations. This includes vital processes like clearance, settlements, and risk management. The product’s effectiveness and efficiency have made it a standout choice in the market. One of Mylapay’s major milestones has been their collaboration with Razorpay, a well-known name in the fintech industry. This partnership has not only enhanced their profitability by making operations more efficient but also opened up new avenues for revenue generation.


Credgenics, a standout player in the fintech startup scene, has earned the distinction of being hailed as India’s top loan collections platform for two successive years, 2022 and 2023. This innovative platform has proven its mettle by expertly automating key communication channels, such as emails and text messages, while also managing the monitoring of calls and follow-ups. Employing the cutting-edge technology of Artificial Intelligence, Credgenics offers a comprehensive assessment of potential recovery probabilities, associated costs, and time durations for various loan accounts. This serves as a testament to its commitment to providing detailed and insightful analysis for its users.

What sets Credgenics apart from the competition is its integrated dashboard and mobile application. These platforms bring together all digital and physical notifications in one place, creating a centralized hub for information. They also simplify in-app calling and navigation processes, thereby facilitating smoother and more efficient borrower engagement. Credgenics’ exceptional organization and dedication to premium customer service have not gone unnoticed. These qualities have elevated the company to a leadership position among its fintech startup peers in the Indian market.

Pay Space

6969 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.