FAQs
In 2023, global research firm Statista ranked India third among countries with the most fintech unicorns (17), behind the United States (134) and the United Kingdom (27).
What is the rank of fintech unicorn in India? ›
India Ranks Third Globally with 67 Unicorns; Fintech, SaaS Among Top Sectors: Report. India has 67 unicorns, making it the third-largest unicorn ecosystem globally, behind the US and China, according to a report by Hurun Research. Fintech, SaaS, and AI are among the top sectors contributing to India's unicorns.
How many fintech unicorns are in India in 2023? ›
India claimed the third spot with 17 fintech unicorns as of 2023. According to the report, the United States is also the host of the world's largest fintech companies by market capitalisation.
What is the fintech report for India in 2023? ›
In Q4 2023, fintech funding in India experienced a decline of 12% compared to Q4 2022, amounting to $413 Mn. This downturn was accompanied by the lowest median ticket size observed in the past three years. Despite this, lending tech retained investor interest, while fintech SaaS emerged as a strong contender.
What is the rank of unicorn in India? ›
Unicorns worldwide: India ranks third with 67 unicorns, US has 703, China has 340 - BusinessToday.
What is the rank of India in fintech? ›
India has ranked third among the countries with the most financial technology (fintech) unicorns in the world in 2023, with the US and UK retaining the top two positions globally.
What is the position of India in fintech? ›
The country ranks second in deal volume, and the FinTech Market Opportunity is anticipated to reach an awe-inspiring $2.1 trillion by 2030. In 2022 alone, Indian FinTech startups raised an impressive $5.65 billion, making it the second most funded startup sector in the country.
What are the top 3 fintech countries? ›
It's no secret that the United States has the best fintech ecosystem in the world, with the United Kingdom and Singapore trailing closely behind.
What are the top fintech unicorns in 2023? ›
Countries with the most fintech unicorns in the world 2023
Stateside, meanwhile, the largest fintech unicorns are Stripe ($95 billion), Chime ($25 billion), Ripple ($15 billion), Plaid ($13.5 billion), Devoted Health ($12.6 billion, and Brex ($12.3 billion).
How many unicorns are in India in 2023? ›
In 2023, the Indian Startup Ecosystem produced 2 Unicorns: InCred Finance and Zepto, in 2023. That's it! Just 2. Compared to 45 Unicorns in 2021 and 21 in 2022, the growth spur of startups has fallen sharply in the last two years, leading to just two startup joining the Unicorn rank in 2023.
27, 2023 (GLOBE NEWSWIRE) — The “Fintech Market in India 2023 – 2028” report has been added to ResearchAndMarkets.com's offering. The fintech market was valued at INR 3.70 Trn in FY 2023. The market is expected to reach INR 11.36 Trn by FY 2028, expanding at a CAGR of ~24.95% during the FY 2024 – FY 2028 period.
Is India amongst the fastest growing FinTech markets in the world? ›
India is amongst the fastest growing Fintech markets in the world. Indian FinTech industry's market size is $50 Bn in 2021 and is estimated at ~$150 Bn by 2025.
Why FinTech is growing in India? ›
The Indian fintech software market is expected to double from current $1.2 billion to $2.4 billion in 2020. Rising customer expectations, e-commerce and smartphone penetration are key drivers for growth.
Why unicorns are rising in India? ›
CAUSES FOR SPEEDY GROWTH OF INDIAN UNICORNS
Ease of technology access: In order to achieve the status of unicorn, most of the startups make use of new and innovative technologies. Startups are now increasing their capability far ahead their expectations due to easy access to tech-savvy consumers.
Which is the most profitable unicorn of India? ›
The top profitable companies include stock brokerage platform Zerodha, Software as a Service (SaaS) platform Zoho, e-commerce platform Firstcry, fintech firm Billdesk, and a few others. They have made profits worth Rs 2,094 crore (FY22), Rs 2,747 crore (FY22), Rs 215.4 crore (FY21), Rs 245.6 crore (FY21) respectively.
Does India have more unicorns than China? ›
India ranked third on the global list of unicorns but was far behind the US and China who had 703 and 340 high growth start-ups respectively. India has a total of 67 unicorns in the list, as per a report by The Hurun Research Institute, according to which drop-outs from the chart in 2023 were Byju's and PharmEasy.
Who is the first fintech unicorn in India? ›
The story of fintech unicorns in India started way back in 2015 when Vijay Shekhar Sharma's Paytm became India's first fintech unicorn. It took three more years for India's fintech startup ecosystem to produce the next few unicorns, with PolicyBazaar, PhonePe and Billdesk turning unicorns in 2018.
Which country has the most fintech unicorns? ›
The United States ranked first in terms of the number of fintech unicorns globally as of February 2024, having over five times more of these companies than the United Kingdom, which ranked second. The U.S. counted 166 fintech unicorns in the country.
How many tech unicorns are there in India? ›
India is now home to 113 unicorns with a combined valuation of more than $350 Bn, but many of these are feeling the pressure of living up to their paper valuations. The likes of BYJU'S, Pharmeasy, Meesho, Pine Labs and several other startups saw corrections in their valuation based on adjustments from investors.
What is a unicorn in fintech? ›
In business, a unicorn is a startup company valued at over US$1 billion which is privately owned and not listed on a share market. The term was first published in 2013, coined by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures.
