5 Notable Indian Fintech Startups To Watch Out In 2024
India’s fintech sector has become a critical component of the national economy, expected to contribute an additional $400 billion over the next seven years. In 2021 alone, the fintech industry attracted investments worth over $8 billion, with total investments since 2014 surpassing $27 billion. The industry hosts 21 fintech unicorns, highlighting its innovation and scalability.

Several trends are shaping the future of fintech in India:
- Digital Lending: There’s a significant focus on expanding digital lending, driven by the need for financial inclusion and easier access to credit.
- Neo-banking: With a projected compound annual growth rate (CAGR) of 50.4% by 2026, neo-banking is redefining user-friendly banking experiences for a digitally native clientele.
- Embedded Finance: The integration of financial services into non-financial platforms is expected to surge, facilitating seamless access to financial products across various consumer experiences.
- AI and Machine Learning: These technologies are transforming fintech services from credit assessments to personalized financial advice, driving efficiencies and innovation.
Zerope
ZeroPe is a fintech startup focused on simplifying healthcare payments. It provides financial assistance for medical expenses through flexible loans up to Rs 5 lakhs. Patients can pay for their healthcare needs at partner hospitals directly through the platform, with the option to repay in easy EMIs.
The visionary founders of ZeroPe are Ashneer Grover and Aseem Ghavri. ZeroPe has participated in prestigious accelerators like Techstars, gaining access to a vast network of mentors and investors. ZeroPe has recently forged a significant partnership with Mukut Finvest, a Delhi-based non-banking financial company (NBFC).
This collaboration is strategic, as it leverages Mukut Finvest’s financial expertise and regulatory framework to roll out new offerings. By partnering with an established NBFC, ZeroPe can enhance its loan disbursement capabilities and potentially increase the range of financial products it offers to consumers.
Zest Money
Zest Money offers consumer lending solutions that enable instant credit for online purchases without the need for a credit card or a conventional credit history. This makes it possible for a wider range of consumers to access financing options for their purchases.
Founded by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman, Zest Money was established with the vision to simplify the credit process and make it more accessible to all Indians. Their backgrounds in finance and technology helped them identify the gap in consumer financing that Zest Money aims to fill.
The platform has facilitated over 5 million credit approvals to date, with a wide network of 3,000+ online and offline partners across India where consumers can utilize their credit facilities. Zest Money is backed by a consortium of notable investors including Goldman Sachs.
Zest Money completed a Series B funding round where it raised $20 million led by Quona Capital. In total, Zest Money has raised over $50 million from various investors including Ribbit Capital, Omidyar Network, and PayU
Moneytap
Moneytap offers a credit line service in India. This service uniquely combines the features of a personal loan and a credit card, allowing users to borrow any amount within their credit limit and pay interest only on the amount used. This flexibility makes it an attractive option for immediate financial needs without the high costs associated with traditional credit options.
Moneytap was co-founded by Bala Parthasarathy, Kunal Varma, and Anuj Kacker. The trio brought together their expertise in consumer finance, technology, and startup ecosystems to launch a product that addresses the need for flexible, accessible credit. Since its inception, Moneytap has grown rapidly, serving over a million customers across 40+ Indian cities.
The startup has managed to disburse loans worth over INR 1,000 crores ($135 million), showcasing its significant impact on consumer credit accessibility in India. Among their backers are Sequoia India and NEA (New Enterprise Associates), both of which are major players in the global venture capital market.
One of its significant funding rounds was a Series A, where it raised $12.3 million led by Sequoia India. Later, it secured $70 million in a combined equity and debt round led by Aquiline Technology Growth, RTP Global, and Sequoia India
Lending Kart
Lending Kart focuses primarily on providing unsecured business loans to small and medium enterprises (SMEs) across India. The platform leverages advanced data analytics and machine learning algorithms to assess creditworthiness, enabling quick and efficient loan approvals without the need for physical paperwork or collateral.
Lending Kart was co-founded by Harshvardhan Lunia and Mukul Sachan. Their combined expertise in finance and technology inspired them to create a solution that addresses the unique challenges faced by SMEs in securing financial support.
Lending Kart has made a substantial impact on the SME sector by facilitating access to credit across more than 1,300 cities in India. To date, the company has disbursed over 100,000 loans, translating to more than INR 5,000 crores ($675 million) in funding, thereby playing a crucial role in the growth and sustainability of numerous small businesses.
It raised $30 million in a Series D funding round led by Fullerton Financial Holdings. Overall, Lending Kart has amassed over $143 million through equity and debt instruments from investors including India Quotient, Saama Capital, and Sistema Asia Fund.
Aquaconnect
Aquaconnect operates at the intersection of fintech and aquaculture, providing an integrated platform that offers financial services, market linkage, and predictive analytics for fish and shrimp farmers. This startup uses artificial intelligence and satellite remote sensing to predict disease risk and improve farm productivity, thereby supporting sustainable and profitable aquaculture practices.
Founded by Rajamanohar Somasundaram, Aquaconnect reflects his commitment to leveraging technology for the betterment of the aquaculture industry. Somasundaram’s background in technology and his passion for sustainable farming practices drive the company’s innovative solutions.
Aquaconnect has significantly influenced the aquaculture sector by reaching over 30,000 shrimp and fish farmers and facilitating better market access and improved farming decisions through their technology. Aquaconnect is backed by investors who specialize in agritech and sustainable ventures, such as Omnivore and AgFunder. It secured $4 million in a pre-Series A round led by Rebright Partners and Flourish Ventures.
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