India occupies a significant space in the global fintech landscape with 14% share of funding.
While the number of fintechs in the country rose between 2014 and 2021, funding was low till 2015; the sector has received a rapid funding boost since then.
Equity funding in Indian fintechs has grown at 26% CAGR over the last four years, but more rapidly from 2020 onwards because of the increased digital services adoption.
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In fact, the increasing number of late-stage financing rounds is an indicator of increased maturity of Indian fintechs. With rising funding and valuations, 23 fintechs have become unicorns.
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