New Delhi  : India’s leading media and information platform, known for its end-to-end coverage of the Indian startup ecosystem, Inc42’s research division DataLabs by Inc42 has released Fintech Outlook 2019 report.

 

According to the report, Indian fintech startups secured a total of $6.97 Bn funding across 453 deals in the last 5 years (2014-2018). As per DataLabs, India has witnessed the launch of about 2,707 startups in the fintech space to date, with over 399 of them shutting shop.

 

The research carried out by DataLabs shows that about 30% of the total fintech startups existing in India fall under the mobile payments (15.3%) and consumer finance (15.1%) category.

In terms of sub-sector performance in funding, the Fintech Outlook report shows that payments tech which recorded $3.87 Bn in funding over the last five years, leads the way, followed by lending tech and insurance tech which recorded $1.58 Bn and $525 Mn in funding respectively.

Over 404 angel investors and 546 VCs participated in investment rounds for fintech startups in the last five years. Blume Ventures was the most active VC in early stage fintech startups, while Sequoia Capital emerged as the most active VC in the growth and late stage ventures.

Ankan Das, head of DataLabs by Inc42 says, “Evidently, the fintech market of India offers a trillion-dollar opportunity, yet the startups are not being able to scratch even the surface so far. In comparison to the developed economies like China and the US, India is still far behind in financial inclusion indicators as well. There is a large room for growth and the entry of new players.”