Success stories of Fintech Start-ups

Fintech is a new financial industry that applies technology to improve financial activities. FinTech is the new applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the Internet.
Success stories of Fintech Start-ups

1.    Paytm

Paytm is an RBI-licensed semi-closed pre-paid payment instrument. The app also allows users to shop for both physical and digital goods. The company started out with mobile recharges, DTH plans and bill payments, launched goods marketplace in Feb 2014. Raised undisclosed funding from Ratan Tata in March 2015. Partnered with Alibaba's cloud computing arm, AliCloud to expand its payments network to global markets. In Aug 2015, the company received in-principal payments bank license. As of Oct 2016, the company had 135M wallet users. In Jan 2017, the company received approval from RBI to launch Paytm Payments Bank. In Feb 17, the company announced $90M investment in its QR code-based payment network. In Mar 2017, Paytm launched APIs, SDKs, and plugins which would enable businesses to collect recurring payments. 

Founded: 2010     
Location: Noida(India)     
Total Funding: USD 2.48B  
Investors: Berkshire Hathaway, SoftBank Group, MediaTek and 38 Other Investors   

2.    Policy Bazar
Policybazaar is an online insurance aggregator for comparative analysis of products from various insurers based on price, quality and key benefits. Currently, the website offers information to users to help them make informed decisions along with solution driven customer service. They feature content in various forms such as top five features of a product, best sellers and conversion rates. Raised $40M in April 2015 for Series D round from PremjiInvest. 

Founded: 2008     
Location: Gurgaon (India)     
Total Funding: USD 372M  
Investors: Temasek, Tiger Global Management, SoftBank Investment Advisers and 18 Other Investors 
  
3.    Pine Labs

Pine Labs provides POS software solutions for offline retailers and brands. The company's Plutus POS solutions is a cloud-based software solution which can be integrated with a generic POS terminal and allows retailers to accept debit & credit cards, e-wallets, QR code and UPI based payments. Its features include marketing tools, reporting & analytics and others. The company offers payment gateway API solutions, mobile payment solutions (myPlutus), loyalty & gift card programs, and others. It also offers value-added solutions like EMIs, discounts, pay by points, loyalty solutions, e-Wallets, targeted promotions, dynamic currency conversion and more. Its mobile app is available for Android and iOS. 

Founded: 1998     
Location: Noida (India)     
Total Funding: USD 227M  
Investors: Temasek, PayPal, Actis and 5 Other Investors    

4.    Mobikwik
MobiKwik is a digital wallet service. Allows users to store up to Rs 50,000 in wallet and recharge mobiles, pay bills and shop across merchants in India across various channels – Apps, Website, Mobile website, SMS or IVR. Also offers partial payment for ticket reservation and cash pick up for bus tickets booking. Provides short-term personal loans to its wallet users. 

Founded: 2009     
Location: Gurgaon (India)     
Total Funding: USD 165M  
Investors: Sequoia Capital, NET1, GMO Venture Partners and 8 Other Investors   

5.    Lendingkart

Lendingkart is a web platform that enables SMBs to apply for collateral free working capital loans. The company uses cash flow, credit history, and customer experiences to evaluate the business. Claim to disburse the loan within 3 days. Funds offered range from INR 50 thousand to INR 1 crore with tenure of 1 month to 1 year. In Feb '16, the company tied up with Voonik and Craftsvilla to offer loans to their merchants. In March '16, entered into strategic partnership with Mahindra's SmartShift, a digitally enabled aggregator for cargo owners and transporters. to make working capital fund easily accessible to SmartShift SMEs. In April 2017, the company raised $4.65M in the form of non-convertible debentures (NCD) from Anicut Capital. Claims to have disbursed over 12,000 loans to over 9,500 SMEs across 23 diverse sectors, as of Aug'17. 

Founded: 2014     
Location: Ahmedabad (India)     
Total Funding: USD 155M  
Investors: Aditya Birla Capital, Fullerton Financial, Saama Capital and 20 Other Investors    

6.    Financial Softwares Systems

Financial Software Systems (FSS) offers a range of services for banks and financial institutions in the areas of electronic payment, financial transaction processing solutions. Its two business divisions comprise of FSSTechnologies for providing clients with a single-window view of solutions and services to meet all requirements within the payments framework; and FSSNeT offering hosted payment processing services across all delivery channels including ATMs, POS, internet and mobile with authorization by bank hosts, interchanges and co-networks. It had previously raised three rounds of private equity money from Carlyle, New Enterprise Associates (NEA) and Jacob Ballas Capital India and raised a pre-IPO round in Oct 2014 from Premji Invest. It is looking at growing its topline from INR 570 crore in March 2013 to nearly INR 2,250 crore by 2018-19. Headquartered in Chennai, India, FSS has established a global footprint in Australia, Canada, Europe, Middle East, Singapore and the United States of America. Serves over 100 clients including ICICI Bank, HDFC Bank. Looking to IPO in 2016.  

Founded: 1991     
Location: Chennai (India)     
Total Funding: USD 127M  
Investors: Premji Invest, Jacob Ballas Capital, New Enterprise Associates and 2 Other Investors    

7.    InCred Finance

InCred Finance is an alternative lending platform focusing on SME loans, consumer & personal loans, home loans and education loans. For education loan, the company is targeting students studying abroad and is planning to tie-up with top-notch institutions in the west. For mortgages & SME loans, InCred plans to use the DSA network. For personal loans, the company would access borrower's credit history and sanction instant loan. The company plans to launch its offerings in 10 cities. Acquired Instapaisa, a B2C lending platform. In Aug 2016, InCred announced a $75M funding round. In the $75M round, Bhupinder Singh invested $22M, Anshu Jain - former Deutsche Bank co-CEO invested $7.5M, Ranjan Pai - MD & CEO of Manipal Group invested $22M, Gaurav Dalmia - Founder and Chairman of Landmark Holdings invested $7.5M, IDFC PE and Alpha Capital invested $7.5M each 

Founded: 2016     
Location: Mumbai (India)     
Total Funding: U SD 126M 
Investors: Paragon Partners, Invesco Asset Management, Kotak Mahindra Bank and 16 Other Investors    

8.    Capital Float
Capital Float is a digital finance company providing working capital and term loan products to small businesses and online sellers. Offers loans based on cash flows, expected receivables, financials, CIBIL score, & banks statements. Borrowers can apply online and once approved, the loan is disbursed to their bank account. 

Founded: 2013     
Location: Bangalore (India)     
Total Funding: USD 124M  
Investors: Jai Rupani, Prakash Ramachand Belani, Sunil Bodaram Luthria and 38 Other Investors    

9.    Bank Bazar

Capital Float is a digital finance company providing working capital and term loan products to small businesses and online sellers. Offers loans based on cash flows, expected receivables, financials, CIBIL score, & banks statements. Borrowers can apply online and once approved, the loan is disbursed to their bank account. 

Founded: 2013     
Location: Bangalore (India)     
Total Funding: USD 124M  
Investors: Jai Rupani, Prakash Ramachand Belani, Sunil Bodaram Luthria and 38 Other Investors    

10.                       Digital Insurance


Digit is an IRDA licensed internet first general insurer launched by Fairfax Holdings and Kamesh Goyal, a former executive from Allianz. Fairfax holds 45% stake in the company. Offers insurance for cars, mobile handsets, travel, and jewellery. 

Founded: 2016     
Location: Bangalore (India)     
Total Funding: USD 100M  
Investors: Fairfax Financial Holdings  
  

Nitisha Mandhanya (B.Com.)
Fintech Intern 
AirCrews Aviation Pvt Ltd
 Nitisha@fintech-start-up.com 




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