India is now officially a part of the world. With 26 unicorns and 87 soonicorns waiting in the wings, we are now the third-largest fintech market in the world.
The numbers are mind-boggling: more than 350 million people who buy and sell things online are doing about 600 billion transactions.
India's financial technology companies are having a great time right now because UPI is being used more and more, data is cheap, and they are reaching deep into rural areas.
There are no limits to what you can do. According to industry forecasts, revenue will reach $200 billion by 2030, and the ecosystem will probably have more than 150 unicorns.
Even though the market is doing well, it does have some problems. Companies can't just spend money to stay in business for the long haul; they need to grow in a way that doesn't hurt the environment.
This leads us to the most important measure for the next ten years: organic growth.
A lot of new businesses still need a lot of money to get users, but a special type of fintech company in India has figured out how to be successful in the long term.
They are winning by making financial systems and products that fix basic economic problems.
Key Attributes of Organic Growth In Fintech
Before we talk about the leaders, we need to know what makes this sector valuable in the long term. It is a planned strategy that is based on three main ideas:
- Product-Led Utility: The financial product removes a big obstacle (like making payments easier or getting credit) so well that people have to use it.
- Knowledge Leadership: The brand acts as a financial advisor, giving users the tools they need to make better decisions instead of just selling them something.
- Ecosystem Trust: Making a safe and secure platform where users can safely store their money and data.
What Makes Organic Growth Different from Market Growth?
This is a common point of confusion. While "market growth" (or inorganic growth) focuses on speed often achieved through mergers, acquisitions, and aggressive spending organic growth is about sustainability.
| Feature | Organic Growth | Market Growth |
| Primary Driver | Innovation, product reliability, and ecosystem integration. | External capital, mergers, and paid acquisition. |
| Speed | Steady, compounding expansion. | Rapid, volatile spikes. |
| Cost | Efficient capital utilization. | High burn rate and acquisition costs. |
| Sustainability | High; builds long-term customer loyalty. | Lower; retention depends on incentives. |
Explore how AI-driven tools and FinTech innovations are reshaping digital lending and making credit faster, smarter, and more accessible.
10 Big Fintech Companies in India Driving Organic Growth
| Company | What They Do | Key Metrics |
| PhonePe | UPI & Payments | 48% of all UPI transactions |
| Zerodha | Stock Trading | ₹4,700 Cr Net Profit |
| Paytm | Merchant Payments | 1.17 Cr Devices deployed |
| Razorpay | Business Payments | $150 Billion Processed/Year |
| CRED | Credit Card Rewards | Top 1% High-net-worth users |
| PolicyBazaar | Insurance Comparison | 90% Market Share |
| Pine Labs | Offline Card Machines | 1 Million+ Touchpoints |
| BharatPe | Merchant Loans | Zero Fees (Changed the industry) |
| MobiKwik | Wallet & Pay Later | ₹14 Cr Profit (Profitable) |
| Lendingkart | Small Business Loans | ₹7,254 Cr Loan Book Size |
Here are the top players who have mastered this art. Many of these are also leading fintech companies in Bangalore, the undisputed innovation hub of the country.
1. PhonePe
The "Super App" for India PhonePe has stealthily taken over almost half of India's UPI market. Their plan is more than just making payments; they want to create a whole digital finance ecosystem that works for everyone, from city dwellers to rural merchants.
They have made financial inclusion very local by digitizing the cash-heavy "kirana" economy.
- Year Founded: 2015
- Headcount: ~6,000+ Employees.
- Founders: Sameer Nigam, Rahul Chari, Burzin Engineer.
- Investors: Walmart, General Atlantic, Tiger Global, Ribbit Capital.
- Important Stat: ~48% Market Share of all UPI transactions in India.
- What they do: UPI Payments, Merchant Soundboxes, Digital Gold, Insurance (Car, Health, Bike), Mutual Funds, Indus Appstore (Their own Android App Store), and Pincode (Hyperlocal shopping).
- Specialization: UPI Payments, Merchant Digitization, & Wealth Management.
- Growth: Revenue surged to ₹5,064 Cr in FY24 (increasing over 70% YoY).
2. Zerodha
The Bootstrapped Market Leader Zerodha is probably the most important success story among India's top fintech businesses. They changed the investment landscape by creating a low-cost brokerage model that made it easier for regular people to invest.
Their secret is "Knowledge Leadership" they created an ecosystem of informed investors through Varsity, a free education platform.
- Year Founded: 2010
- Headcount: ~1,100 Employees.
- Founders: Nithin Kamath, Nikhil Kamath.
- Investors: Bootstrapped (Self-funded, no external VCs).
- Important Stat: ₹4,700 Cr Net Profit (FY24), making it one of the most profitable internet companies in India.
- What they do: Discount Broking (Stocks, F&O), Coin (Direct Mutual Funds), Varsity (Financial Education), Kite (Trading Platform), and Rainmatter (Fintech & Climate Funding).
- Specialization: Discount Broking & Investment Technology.
- Growth: Reported a massive ₹4,700 Cr Net Profit in FY24 with revenue hitting ₹8,320 Cr.
3. Groww
The Investment Platform for Millennials While legacy players went after experienced traders, Groww went after the next generation of investors.
They made the complicated KYC and onboarding procedure easier, so investing in mutual funds is as easy as purchasing online. This tech-first user experience turns a generation of savers into investors.
- Year Founded: 2016
- Headcount: ~1,300+ Employees.
- Founders: Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal.
- Investors: Tiger Global, Sequoia (Peak XV), Y Combinator, Ribbit Capital.
- Important Stat: 19 Million+ transacting users, with a massive base in Tier-2 cities.
- What they do: Stock Trading, Mutual Funds, US Stocks, IPO applications, Groww Pay (Bill Payments & UPI), and Consumer Loans.
- Specialization: Mutual Funds, Stocks, & Consumer Finance.
- Growth: Revenue surged nearly 50% to ₹3,902 Cr in FY25 (reported), with profits of ₹1,824 Cr.
Get a clear comparison of Groww and Zerodha to see which platform aligns best with your investing style and budget.
4. Paytm
The Pioneer of Digital Payments "Paytm Karo" is a common phrase in India. Through creative hardware solutions, they closed the gap between digital wallets and real-world shopping.
By using the Soundbox and other IoT devices, they built an omnichannel payment system that fixed a big trust problem for merchants.
- Year Founded: 2010
- Headcount: ~25,000+ Employees.
- Founders: Vijay Shekhar Sharma.
- Investors: Softbank, Ant Group, Elevation Capital.
- Important Stat: 1.17 Crore merchant devices (Soundbox/POS) deployed across India.
- What they do: Mobile Wallet, UPI, Soundbox Devices, Merchant Loans, Insurance, Paytm Money (Wealth Management), and Travel Ticketing.
- Specialization: Merchant Payments, Soundbox Devices, & Ticketing.
- Growth: Revenue stood at ₹9,978 Cr for FY24.
5. Razorpay
The Digital Economy's Backbone Razorpay changed B2B financing forever and is one of the best fintech startups in Bangalore.
They changed the focus from banking red tape to developer productivity. They started as a simple payment gateway and have grown into a "neo-banking" platform that offers businesses full-stack financial solutions.
- Year Founded: 2014
- Headcount: ~3,000+ Employees.
- Founders: Harshil Mathur, Shashank Kumar.
- Investors: Y Combinator, GIC, Sequoia (Peak XV), Tiger Global.
- Important Stat: Processed over $150 Billion in annual TPV (Total Payment Volume).
- What they do: Payment Gateway, RazorpayX (Neo-banking for businesses), Payroll (Automated salaries), Magic Checkout, and POS machines.
- Specialization: Payment Gateway for Business, Payroll, & Banking Suites.
- Growth: Processed over $150 Billion in annual TPV; FY25 revenue jumped 65% to ₹3,783 Cr.
6. CRED
The Trust-Based Credit Platform CRED saw a gap in the market: people with good credit scores were not getting recognized.
They built a gated community that encourages people to be responsible with their money. By gamifying creditworthiness, they allow members to access high-end financial products with much lower risk profiles.
- Year Founded: 2018
- Headcount: ~800+ Employees.
- Founders: Kunal Shah.
- Investors: DST Global, Tiger Global, Ribbit Capital, Sequoia.
- Important Stat: Top 1% of India's high-net-worth individuals are highly engaged on the platform.
- What they do: Credit Card Bill Payments, CRED Mint (P2P Lending), CRED Garage (Vehicle Management), Kuvera (Wealth Management), Luxury Travel, and CRED Cash (Loans).
- Specialization: Premium Credit Card Payments & Wealth Management.
- Growth: Revenue grew to ₹2,473 Cr in FY24, while cutting operating losses by 41%.
7. PolicyBazaar
The Leader in Insurance Transparency PolicyBazaar turned the insurance sector into a clear market. They combined complicated policies and made them easier to compare, giving the consumer more power than the agent.
Their business is based on openness, allowing customers to make fact-based choices.
- Year Founded: 2008
- Headcount: ~14,000+ Employees (Group level).
- Founders: Yashish Dahiya, Alok Bansal.
- Investors: Softbank, Info Edge, Tencent, Premji Invest.
- Important Stat: ~90% Market Share of all online insurance comparison in India.
- What they do: Insurance Aggregation (Life, Health, Motor), Corporate Insurance, and Paisabazaar (Marketplace for Loans and Credit Cards).
- Specialization: Insurance Aggregation & InsurTech.
- Growth: Consolidated revenue hit ₹3,438 Cr in FY24; turned profitable with ₹64 Cr PAT.
8. Pine Labs
The Offline Commerce Enabler Pine Labs worked on updating the point-of-sale systems for brick-and-mortar establishments. They are the link between old-fashioned stores and new digital finance solutions.
By integrating "Buy Now Pay Later" (BNPL) at physical counters, they give offline businesses the same financing capabilities as e-commerce giants.
- Year Founded: 1998 (Rebooted as Payments Unicorn later).
- Headcount: ~3,500+ Employees.
- Founders: Lokvir Kapoor, Rajul Garg, Tarun Upaday.
- Investors: Sequoia, Mastercard, Temasek, PayPal.
- Important Stat: Turned Profitable in Q1 FY26 with over 1 Million merchant touchpoints.
- What they do: Smart POS Terminals, Plutus (Merchant Software), Qwikcilver (Gift Cards & Stored Value Solutions), and Mosambee (Payment Solutions).
- Specialization: Merchant PoS Systems & Lending Technology.
- Growth: Revenue reached ₹2,274 Cr in FY25; turned profitable in Q1 FY26.
9. Slice
The New-Age Credit Provider Slice fixed a big problem in the market: students and young professionals couldn't get credit cards.
They used alternative data to assess risk for a demographic that regular banks ignored. They are now transitioning from a pure fintech to a banking entity through a historic merger.
- Year Founded: 2016
- Headcount: ~1,200+ Employees.
- Founders: Rajan Bajaj.
- Investors: Tiger Global, Insight Partners, Gunosy Capital.
- Important Stat: Historic Merger with North East Small Finance Bank to become a fully licensed bank.
- What they do: Consumer Credit, UPI Payments, and Banking Services (following the merger with North East Small Finance Bank).
- Specialization: Credit & Payments for Gen Z.
- Growth: Achieved a historic milestone by merging with North East Small Finance Bank in Oct 2024 to become a bank.
10. Lendingkart
The Algorithmic SME Lender Lendingkart helps Micro, Small, and Medium Enterprises (MSMEs) that traditional banks say are "unbankable."
Their strength is using algorithms and big data to check creditworthiness in real time, making it possible to quickly give money to the sector that fuels India's industrial growth.
- Year Founded: 2014
- Headcount: ~1,000+ Employees.
- Founders: Harshvardhan Lunia.
- Investors: Fullerton (Temasek), Bertelsmann, Mayfield India.
- Important Stat: ₹7,254 Cr AUM (Assets Under Management), serving 4,000+ towns.
- What they do: Unsecured Business Loans, Working Capital Loans, and 2gthr (A co-lending SaaS platform for banks).
- Specialization: Working Capital Loans for MSMEs.
- Growth: Revenue from operations touched ₹1,090 Cr in FY24 with a profit of ₹175 Cr.
Find out which UPI apps lead India in speed, security, and convenience in 2025.
The success of these top fintech companies in India proves that value creation is the ultimate driver of growth.
As the market moves toward that $200 billion revenue projection, the winners won't be the ones with the biggest marketing budgets, but the ones building the strongest financial infrastructure and solving the deepest economic problems for the nation.
Fintech isn't just for big investors; it’s for everyone, like buying ₹10 of digital gold on Jar with just your spare change. Don’t just watch the revolution; download the Jar app today and let technology start growing your money.
FAQs
What is the biggest fintech company in India?
People think that PhonePe is the most valuable fintech company in India right now. It is a "decacorn," which means it is a startup worth more than $10 billion.
Its most recent value was around $12 billion. PB Fintech (the parent company of PolicyBazaar) and Paytm (One97 Communications) are the two biggest companies by market capitalisation on the stock exchange.
PhonePe is the leader in the UPI market, handling almost half of all digital payments in the country.
What does it mean to be a fintech company?
"Fintech" is just a mix of finance and technology. A fintech company is any business that uses technology to make financial services easier, better, or more accessible to customers.
Fintech lets you send money, get a loan, buy insurance, or invest in stocks right from your phone, so you don't have to go to the bank to fill out paper forms.
Payment apps (like Paytm), lending platforms (like Slice), and investment apps (like Zerodha) are some examples.
Is GPay a company that works with technology?
Google Pay (GPay) is a fintech product, not a separate company, but it is a huge player in the fintech space. Google, a big tech company, owns it, but it works as one of the best payment apps in India's fintech ecosystem.
It changed the way people pay online by making the UPI system more popular. This lets people send money straight from their bank accounts without needing a digital wallet. It is part of Google, but it works just like a fintech company in the market.
Is it a good idea to work in fintech in India?
Yes, it is one of the best and fastest-growing careers in India right now. There is a huge need for people who know how to do data science, product management, blockchain, and cybersecurity because the market is expected to reach $190–$200 billion by 2030.
The field pays well, often more than traditional banking, and lets you work on cutting-edge problems. But you need to be flexible because the rules and technology in this field change very quickly.
Is working in FinTech stressful?
It can be very hard. People say that the fintech industry has a "hustle culture" because it combines two high-pressure fields: finance and technology.
Employees often have to deal with tight deadlines, pressure from regulatory bodies like the RBI, and the need to keep systems running all the time (zero downtime).
The work is fast-paced and mentally challenging, but it doesn't have the slower, more predictable hours of a regular bank job, which can lead to higher rates of burnout if work-life balance isn't kept in check.
