The Rapid Rise of FinTech in India
India is one of the world’s fastest-growing economies and speedily emerging FinTech hubs. As of June 2022, the country had around 4,200 FinTech startups, 17 of which were unicorns, i.e. companies that reached a valuation of US$1 billion without being listed on the stock market. In comparison, China is home to only 13 FinTech unicorns. There are many more Indian startups on the brink of the US$1 billion dream, dubbed “soonicorns”, a testament to India’s flourishing FinTech industry.
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India is one of the world’s fastest-growing economies and speedily emerging FinTech hubs. As of June 2022, the country had around 4,200 FinTech startups, 17 of which were unicorns, i.e. companies that reached a valuation of US$1 billion without being listed on the stock market. In comparison, China is home to only 13 FinTech unicorns. There are many more Indian startups on the brink of the US$1 billion dream, dubbed “soonicorns”, a testament to India’s flourishing FinTech industry.
