With instant payments for cab rides, money transfers, transactions at kirana stores, or instant loans, fintech startups are changing how Indians have traditionally dealt with financial transactions. And many of us who have used these services have got hooked on to it because of the seamless customer experience they provide.
Accounting for nearly one-fifth of the world’s population without bank accounts, India is also one of the largest growing mobile and internet markets. While the country is emerging as an active hub for fintech startups that aid the larger objective of financial inclusion and economic mobility, this growth is not without challenges. These include lack of robust infrastructure, regulatory hurdles, and threats to data privacy, among others.
If you are a fintech startup, do participate in Kalaari Capital’s survey on Fintech in India: Innovating for the next 400 million. Your participation will help provide deeper insight into the sector, with a key focus on understanding dynamics such as technologies driving a company’s business, trends in customer acquisition, preferred channel of delivery, and much more. The survey also aims to understand the key challenges when it comes to building a fintech company – talent, mentorship, and capital, among others.
YS data suggests there are 700+ fintech companies in India, of which nearly 150 were launched in the past year. A report by CB Insights and KPMG said total investment in fintech companies exceeded $19 billion in 2015. VC-backed fintech companies worldwide received $13.8 billion that year, more than double that of 2014. During that time, Indian fintech companies mopped up funding of over $1 billion.
Together, let us help in understanding the sector, the opportunities, the challenges and the possibilities it presents. Take Kalaari Capital’s survey on fintech in India now.
(Disclaimer: Kalaari Capital is an investor in YourStory.)