The FinTech business is on a cusp of a technological transformation, analyzing each part of conventional financial management. A major alteration is going to occur in the small company area as FinTech organizations assume taking over the financial industry by storm with parts to offer to new businesses and startups through lending, foreign exchange, and different other monetary products and services. There are motivations to trust that FinTech is rapidly filling in the gaps that the traditional banks have left wide open. E-signature, new RBI guidelines is reshaping the industry. There are few Fintech to watchout for startups this year.
Satya MicroCapital
Satya MicroCapital Limited is an NBFC-MFI serving low-income entrepreneurs in India’s rural and urban areas. The firm provides prompt, convenient, and affordable collateral-free credit to unbanked and underserved people through a strong credit assessment and centralised approval system. Headquartered in New Delhi, the company began its operations in October 2016. Satya MicroCapital has registered impressive growth, having achieved an Assets under Management (AUM) value of over Rs. 100 crore within just one year of launching its operations, thus emerging as one of the fastest growing MFIs in the country. Satya MicroCapital also raised equity funding of 50 Cr from Japan-based Gojo & Company Inc.
CoinTribe
Headquartered in Gurgoan, CoinTribe is a leading online loan disbursement platform that provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks. It exercises an entirely digital loan assessment and ‘decision’ing process, requires minimal paperwork as well as documentation and involves no application cost for loan delivery through its platform. CoinTribe have been funded by $10 million from Sabre Partners in Series B. With the current round of funding, the total equity capital raised by CoinTribe stands at $15 million. Their lending partners include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital.
GIBL.In
Greenlife Insurance Broking Limited or GIBL.IN is India’s largest online insurance distribution network certified under the Insurance Regulatory and Development Authority of India (IRDAI). It endeavours to provide the lowest prices possible on online general insurance policies from top-rated companies, in order to meet the needs of its customers across social strata and demographics. GIBL is driven by its focus on reaching out to rural and urban customers through the implementation of advanced technology in the online insurance distribution sector and to bring offline customers to the online platform using its unique agent-based POS Program. GIBL offers customers a web-based portal and a mobile app-based platform through which they can buy insurance on-the-go. Customers can easily search for, compare, buy or renew insurance products at GIBL from 3000+ policy options.
Aye Finance
Aye Finance is a new age finance company providing business loans to the small and micro enterprises across India. Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye Finance continues to chart an exciting growth path in this under banked segment while maintaining a high benchmark for credit quality. As a Non-Banking Financial Company, Aye Finance is proud to make business loans against mortgage or simple hypothecation accessible to India’s thriving and underserved MSME sector. The biggest news from the brand in 2018 happens to be 21.5mln dlr fudraise from Capital G (Google).
WazirX
WazirX is India’s most trusted bitcoin exchange, also enabling Indians to build up their digital assets by buying, selling or investing in other crypto-assets, such as Bitcoin, Litecoin, Ethereum, Ripple etc. In addition to supporting the leading crypto-currencies, WazirX also announced the launch of India’s own digital asset, WRX. Within merely 20 days of the pre-signup process, WRX clocked in over 80K user signups. The brand successfully launched peer-to-peer model for transactions and claims stupendous growth.
Happy
Incepted in December 2016 in Mumbai, Happy Loans is one of India’s most innovative loan facilitators with a vision of offering customers a truly ‘happy’ banking and loan processing experience. The organization, started by Manish Khera and Gautam Ivatury, aims to empower the 600 million+ under banked population in India by offering products that can be directly operated digitally, minimizing the documentation and KYC verification requirements.