The way India deals with money is changing fast, and it’s all thanks to something called ‘Fintech’. This basically means using technology to make financial stuff easier. Moreover, experts predict that the Indian fintech market will skyrocket to a whopping $1.5 trillion by 2025, up from $584 billion in 2022—that’s massive growth!
So, Why Is All This Happening In India?
Well, a lot of people are now using their phones to pay for things, thanks to things like UPI. More people are also getting comfortable with using the internet and smartphones, even in smaller towns and villages. Plus, the government is also pushing for more digital ways of doing things, which helps these fintech companies in India grow.
But What Exactly Is A Fintech Company?
Fintech companies aren’t just limited to digital payment apps. The term includes:
- Payment platforms like UPI apps and digital wallets.
- Lending startups that offer instant loans and BNPL (Buy Now, Pay Later) services.
- Investment platforms that make stock trading and mutual fund investing easy.
- Insurtech firms that simplify buying and managing insurance policies.
Now you must be wondering who are the big fintech companies in India, right? Well, based on Innovation, User Base, and Impact, here’s a list of the best fintech companies in India that’ll be leading India’s fintech scene in 2025:
List Of The Top 10 Fintech Companies In India
| Company | Primary Services |
| PhonePe | UPI, Merchant Payments, Bill Payments, Lending |
| Paytm | Payments, Wallet, BNPL, Financial Services |
| Razorpay | Payment Gateway, Neobanking, Lending |
| BharatPe | Merchant Payments, BNPL, Credit, Merchant Lending |
| Cred | Credit Card Payments, BNPL, Lending |
| Zerodha | Stock Brokerage, Mutual Funds, Trading |
| Groww | Mutual Funds, Stocks, Gold, FDs |
| Upstox | Stock Trading, Derivatives, IPOs |
| PolicyBazaar | Insurance Aggregation, Advisory |
| Acko | Digital-First General Insurance |
1. PhonePe
PhonePe has leveraged the UPI infrastructure to become a leading fintech company in India. Its primary services include UPI-based money transfers, merchant payments, bill payments, and lending.
PhonePe also continues to lead the UPI ecosystem in terms of transaction volume, processing 8.1 billion transactions in January 2025 alone, representing over 48% market share. Also, the company crossed 600 Million registered users in March 2025.
PhonePe has a valuation of an impressive $12 billion. Its continued dominance in the digital payments sector, and its expanding foray into financial services like lending and wealth management, make it a key player shaping India’s fintech future.
2. Paytm
Paytm continues to be a major player in India’s digital payments space, offering everything from a digital wallet and UPI transactions to BNPL (Buy Now Pay Later) and other financial services.
Sure, its UPI market share has dipped a bit, but it’s far from out of the game—handling a massive 1.15 billion transactions in January 2025 alone. With a valuation north of $5 billion, it’s not slowing down anytime soon.
A recent win? Paytm Money just got SEBI’s approval to operate as a research analyst, expanding its investment offerings. The market may shift, but with its huge merchant network and strong brand, Paytm isn’t going anywhere.
3. Razorpay
Razorpay started as a payment gateway but has grown into a full-fledged payments and banking platform for businesses. It’s even making moves in neobanking and lending now.
The scale they’ve reached is pretty impressive—an annualized Total Payment Volume (TPV) of $180 billion. That’s no small feat! And they’re not stopping there. In 2025, they expanding into Singapore, marking their second international venture.
On top of that, Razorpay has rolled out AI-powered features to boost security, efficiency, and user experience. With a strong focus on innovation and global expansion, it’s clear they’re shaping the future of fintech in India.
4. BharatPe
BharatPe focuses on financial products designed for small businesses, offering merchant payments, BNPL, credit, and lending solutions.
Back in 2022, it facilitated over ₹7,000 crore in loans to merchants—a huge boost for small business financing. Now, the company is gearing up for an IPO within the next 18-24 months while targeting 30% revenue growth in FY25, signaling strong financial health and big ambitions.
Recently, BharatPe introduced fraud protection for UPI transactions and launched a consumer-facing digital payment app. With a clear focus on bridging the financing gap for small businesses and driving growth, it remains one of India’s top fintech players.
5. Cred
Cred stands out in the fintech world by rewarding users for paying their credit card bills on time. Over time, it has expanded into BNPL and lending, making its offerings even more diverse.
In January 2025, Cred made headlines by launching an e-Rupee wallet in partnership with RBI, becoming the first fintech to offer access to India’s CBDC. On the financial front, it saw a 71% jump in operating revenue in FY24—proof of its strong growth.
With innovations like CBDC access and offline payments via CRED Coins, Cred is evolving beyond credit management into a full-fledged financial platform. Its unique focus on rewarding responsible financial behavior has built a loyal, high-value user base.
6. Zerodha
Zerodha has transformed India’s stock brokerage industry with its discount brokerage model, making investing more affordable and accessible. It offers stock trading, mutual funds, and brokerage services, attracting a massive client base of over 8.1 million users—an impressive share of the market.
Its impact hasn’t gone unnoticed. In 2024, CEO Nithin Kamath was named EY Entrepreneur of the Year India, a testament to Zerodha’s role in reshaping the investment space.
By focusing on low-cost investing and simplifying access to capital markets, Zerodha has become a powerhouse in the wealth tech sector, drawing in a growing community of retail investors.
7. Groww
Another prominent player in the wealth tech space, Groww simplifies investing for its users, offering access to mutual funds, stocks, gold, and fixed deposits.
The platform has witnessed significant growth in its user base, surpassing Zerodha in terms of the number of customers. Moreover, recent data indicates Groww had 13.01 million active users in January 2025.
Groww’s user-friendly interface and focus on simplifying complex investment products have made it a popular choice among both new and experienced investors.
8. Upstox
Upstox has made a name for itself in India’s online trading scene, letting users invest in stocks, ETFs, IPOs, and mutual funds with ease. By 2024, it had 2.79 million active clients—no small number.
What sets Upstox apart? A sleek, user-friendly app and SEBI certification, which helps build trust among investors.
Markets may go up and down, but Upstox stays in the game by leveraging technology and teaming up with top exchanges. With a focus on making trading simple and accessible, it remains a go-to choice for many.
9. PolicyBazaar
PolicyBazaar is an online platform for insurance aggregation and advisory, allowing users to compare and purchase various insurance policies across different categories.
Interestingly, more women are now opting for term insurance through PolicyBazaar, showing its growing influence. Moreover, as of recent reports, the company’s market cap stands at a solid $7.64 Billion.
PolicyBazaar has also received numerous awards for its innovation and customer focus. Its extensive network of insurance providers and its focus on providing comprehensive information and comparison tools have made it a go-to platform for insurance needs in India.
10. Acko
Acko is a key player in India’s fast-growing insurtech space, offering digital-first insurance solutions that simplify the process for customers. Specializing in general insurance, Acko has made a mark with its seamless, paperless experience and quick claim settlements.
One of its biggest wins? A 99.91% claim settlement ratio in just three months (2023-24), proving how efficient and reliable it is. Plus, Acko has teamed up with big names like Amazon and Ola, embedding insurance right into everyday platforms.
With a focus on innovation, affordability, and hassle-free claims, Acko is redefining insurance in India, solidifying its place among the country’s top fintech companies.
Well, we have reached the end of the list of the best fintech companies in India. But what’s the future of these companies?
What’s Next for Fintech in India?
The fintech world in India isn’t standing still. We’re seeing some interesting trends coming up.
- One is embedded finance, which means financial services are being added to other apps and websites you already use. Think about paying later when you shop online – that’s often embedded finance.
- Another big thing is using AI and machine learning to make things smarter, like spotting fraud or giving you better financial advice.
- We’re also seeing more neobanks, which are banks that don’t have physical branches and do everything online.
- And of course, digital payments and lending are always getting better and offering more options.
In Conclusion
The top fintech companies in India are revolutionizing how people manage money. With constant innovation and evolving consumer habits, the sector is set to grow even bigger. As new players emerge and technology advances, India’s fintech journey will continue to reshape the financial landscape in exciting ways.
So stay tuned—this is just the beginning!.
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