Top trends that defined fintech in 2021
Fintech startups raised a total of $6.39 billion in funding in FY 2021, as of December 10, over 3.5X more than they did in the year-ago period. As investor interest in the sector continues to hold strong, we look at some of the most defining trends in the space this year.
Good Morning,
In 2021, India's fintech ecosystem was buzzing with activity. Amid the rapid digitisation propelled by the COVID-19 pandemic, fintech startups worked hard to enable digital payments, help people buy insurance online, and enable MSMEs to exert financial autonomy, and proliferate buy now pay later (BNPL) schemes.
While , , , , , , , , , and crossed the billion-dollar market valuation mark, , and got listed on the stock exchanges.
Part of the massive investment inflow into the Indian startup ecosystem can be attributed to fintech startups, which drew a total of $4.25 billion in funding in the first nine months of the year as per YourStory data — over 3X more than in the year-ago period.
"Indian fintechs are at an inflection point to leverage digital enablement of users to China-like levels in five years through a robust stack of platforms and rise in ecommerce and digital transactions,” investment bank Jefferies noted.
Check out the top trends in the Indian fintech space in 2021.
The Interview
In this episode of the #FullerLife, YourStory Founder and CEO, Shradha Sharma meets Naveen Varshneya, Founder, , to find answers to help us navigate the new normal.
Editor’s Pick: Product Roadmap
Ankit Singh, Jawaid Iqbal and Anubhav Jain realised that working capital continues to be a largely unsolved problem for small and medium enterprises (SMEs). That's when they looked at embedded transaction use cases as a potential solution.
It led to the birth of , an embedded B2B payments player with credit access. Rupifi provides a set of APIs for the marketplace to integrate and be embedded in the journey of the marketplace app for the end SME user. Read more.
Startup Spotlight
Helping street vendors go digital
B2B2C platform is empowering street vendors by providing access to digital commerce, quality supply chain, and infrastructure. Operational in Bengaluru at present, it has onboarded over 160 street vendors so far. Read More.
News & Updates
- Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser.
- India needs reforms, and the government will push for greater levels of reforms across sectors, Niti Aayog CEO Amitabh Kant said.
Before you go, stay inspired with…
Sanjay Gupta
“With the fundamental drivers of digitisation now in place, and millions of new users coming online, India’s goal of becoming a truly digital economy is within sight.”
— Sanjay Gupta, Country Head and VP, Google India
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