Page 4 - Top 10 India's Financial Startup 2019
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EDITOR’S NOTE










                                                                           intech Startups :  the highly
                                                                           regulated banking and
                                                                      Ffinance sector has in recent
                                                                       times witnessed the constant
                                                                       metamorphosis of its business models
                                                                       to stay ahead in disruptive times.
                                                                       According to the India Fintech
                                                                       Report 2019, India is now the world’s
                                                                       second biggest fintech hub with
                                                                       2,035 startups operating in the sector
                                                                       (Until 2014, there were only 737
                                                                       fintech startups in the country). The
                                                                       Indian fintech sector garnered close
                                                                       to $2.34 billion in equity funding, a
                                                                       whopping 300 percent increase from
                                                                       2016, when total funding stood at
                                                                       little over half a million ($593 million).
                                                                       While India’s fintech sector is
                                                                       still in the early innings, several
                                                                       macro factors have created a
                                                                       favorable environment for growth.
                                                                       In December 2017, there were over
                                                                       450M internet users in India, a 17
                                                                       percent increase from the year
                                                                       prior. Government programs like
                                                                       India Stack, Startup India Program,
                                                                       Jan Dhan Yojana, Aadhaar, and
                                                                       National Payments Council of India
                                                                       (NPCI) are encouraging startups
                                                                       and corporations to rethink financial
          INDIA IS NOW THE ,                                           services technologies. These
                                                                       programs address issues ranging
          WORLD’S SECOND                                               from financial inclusion to KYC to

          BIGGEST FINTECH HUB                                          Unified Payments Interface (UPI)
                                                                       implementation. Even tech giants
          WITH 2,035 STARTUPS                                          like Facebook, Google, Amazon,
                                                                       and Samsung have introduced
          OPERATING IN THE SECTOR                                      UPI-based payment apps in India,
                                                                       and plan to expand into secondary
                                                                       financial products. The entrance of
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