December 29, 2022

Top Fintech Companies in Bangalore

Bangalore, also known as the “Silicon Valley of India,” is home to a thriving fintech ecosystem. The city is home to a large number of fintech companies that are driving innovation in the financial sector and helping to shape the future of finance.

From payment solutions and digital banking platforms to investment and insurance technologies, these companies are making it easier for individuals and businesses to access financial services and make informed financial decisions.

In this blog, we will take a look at some of the top fintech companies in Bangalore that are leading the way in the Indian fintech market.

Top Fintech Companies in Bangalore

The following are the top fintech companies in Bangalore:

1. MoneyTap

MoneyTap is an Indian Fintech company based in India. Kunal Varma, Bala Parthasarathy, and Anuj Kacker established MoneyTap in 2015. It claims to be India’s first startup to provide users an app-based personal line of credit. The credit line is offered in collaboration with numerous banks and NBFCs.

By November 2017, the app was estimated to have over 1 million installations, with over 20 crore distributed in Bangalore alone. The service is presently available in over 44 Indian cities.

2. PhonePe

PhonePe is a digital payments and financial technology business based in India. Sameer Nigam, Rahul Chari, and Burzin Engineer established PhonePe in December 2015. Flipkart bought the business in April 2016.

Approximately 2.5 crore offline and online retail outlets in 15,700 cities and villages use PhonePe as a payment method. It currently has around 35 million registered users and more than 15 million monthly active users.

3. Simpl

Simpl is a buy now pay later (BNPL) company that allows customers to make purchases and pay for them in installments rather than upfront. It was founded in 2016.

Simpl partners with merchants to offer its BNPL service to their customers, providing a payment option that allows customers to pay for their purchases in small, interest-free installments. It has gained popularity in India and Southeast Asia for its flexible and convenient payment options.

4. ClearTax

ClearTax is a Fintech company based in Bangalore that provides financial services and Software as a Service (SaaS) in India. Archit Gupta, his father Raja Ram Gupta, Srivatsan Chari, and Ankit Solanki established ClearTax in 2011.

ClearTax was the first India-focused business to get funding from the US-based global accelerator Y-Combinator in 2014. In 2018, the organization said it assisted over 2.5 million unique taxpayers. They claimed in 2020 that over 6 million ITRs were completed, with annual payouts reaching $4 billion.

5. Razorpay Software

Razorpay is a fintech company established in India that provides payment gateway services to vendors, retailers, and ecommerce platforms. Shashank Kumar and Harshil Mathur, both IIT Roorkee alumnus, established the company in 2014.

Razorpay is regarded as one of India’s premier fintech startups and has attracted investment from a wide range of investors including Tiger Global, Matrix Partners, and Y Combinator.

6. ZestMoney

ZestMoney is a digital lending platform based in India. Lizzie Chapman, Priya Sharma, and Ashish Anantharaman established the company in 2016. One of ZestMoney’s key offerings is a digital lending platform that links people to loans and other financial offerings including credit cards and lines of credit.

Zest is recognized in over 10,000 online businesses and 75,000 physical stores. The company claims to have 5 million customers on its network as of March 2019.

7. Acko

Acko General Insurance is an Indian private sector general insurance company. Varun Dua, the Chief Executive Officer of Acko General Insurance, established the company.

Acko employs an online-led strategy, thus all operations of the business are conducted via the digital platform. Acko is backed by Sequoia India and Accel Partners, among others. It has also been recognised for its revolutionary approach, with Gartner labeling it a “Cool Vendor” in 2019.

8. Zerodha

Zerodha Broking Ltd. is a financial services company based in India. Nithin and Nikhil Kamath, two brothers, established the business in August 2010. The name Zerodha was selected as a mix of keywords for business ideals: zero and “Rodha,” the Sanskrit word for “barrier.”

As of 2019, Zerodha was India’s largest retail stock broker by active customer base, accounting for up to 2% of daily retail transactions on Indian stock exchanges. With a self-assessment of around $1 billion, Zerodha entered the “unicorn club” in June 2020.

9. Groww

Groww is an Indian fintech start-up and a mutual fund investment platform. It was founded in 2016. In addition to mutual fund investments, Groww also offers a range of other financial products including insurance, loans, and credit cards.

Groww has seen significant growth since its founding, with over 5 million registered users and $1 billion in assets under management.

10. Cred

CRED is an Indian fintech business that offers a reward-based credit card payments application. Kunal Shah established it in 2018. Cred, according to Kunal Shah, is a TrustTech company as opposed to a FinTech one.

By 2021, the business has boarded over 5.9 million customers and handled over 20% of all credit card bill payments in the country. Cred was named the official sponsor of the Indian Premier League from 2020 to 2022.

Final Words

We hope this article has helped you identify the top fintech companies in Bangalore. Feel free to reach out to us in the comment section, if you have any questions or suggestions.

Explore More Locations

• India
• Chennai