Why Indian fintechs are getting global interest
Why read this story?
Editor's note: There has been a subtle shift in the colour of investments in the Indian fintech industry over the past two years. While venture capital continues to dominate the landscape, global financial giants and fintechs are investing in Indian fintechs or have announced their own entry into the market in some fashion. At the same time, Indian fintechs are expanding abroad either organically or through strategic partnerships. The reason for this global play is twofold. First, global companies want to piggyback on the success of a few Indian fintechs. Second, some of them want to launch in India and grab a share of the estimated $31 billion fintech market while it's still easy to do so. “Against 336 listed companies with a ~US$1 billion market capitalization, there are now 100 unicorns in India with a combined market capitalization of US$240 billion,” says a Credit Suisse release from March this year. Earlier this week, Australian buy-now-pay-later firm Zip Co. announced a $50 million investment in ZestMoney, a home-grown BNPL player. With India’s BNPL market estimated to grow to $300 billion by 2026, …
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