The India FinTech Forum has declared its list of ‘Top 29 Fintech Innovators Transforming Finance in 2024’, as part of the upcoming 9th edition of the India FinTech Awards (IFTA). These trailblazing companies represent the cutting edge of the financial services industry, with innovations spanning AI-powered credit solutions, digital lending, wealthtech, embedded finance, and green finance.
In a competitive selection process, the Forum received over 1,400 applications from fintech companies across 20 countries, including Australia, Singapore, Hong Kong, and Ireland. The finalists were chosen based on several criteria, including market impact, scalability, regulatory compliance, and security. The winners in the two major categories—Fintech Startup of the Year and Scale-Up of the Year—will have the opportunity to attend the prestigious FiNext Conference in Dubai and Money 20 under 20 Asia in Bangkok.
India's fintech landscape is experiencing rapid transformation, with the market expected to reach USD 2.1 trillion by 2030. Key drivers of this growth include embedded finance, where financial services are integrated into non-financial platforms like e-commerce and ride-sharing apps, as well as AI-driven advancements in credit scoring, fraud detection, and customer service.
“Fintech innovations are unlocking new opportunities and reshaping the financial ecosystem,” said Sougata Basu, Founder of CashRich and Executive Committee Member of the India FinTech Forum. “We are proud to spotlight the next generation of innovators who are driving this change. Our previous winners have collectively raised over USD 7.5 billion in funding, underscoring IFTA’s reputation as a key platform for emerging fintech leaders.”
Among the 29 top innovators are companies like AlgoBulls, which is democratizing algorithmic trading for retail investors; BharatSure, a platform empowering embedded insurance; and Vayana TradeXchange, a cross-border trade finance marketplace that is streamlining working capital access. Other noteworthy names include indiagold, which helps users monetize assets, and Data Sutram, which offers AI-powered data insights to optimize business decisions.
The awards ceremony will take place on 12 December 2024, in Mumbai, where these disruptive companies will showcase their solutions to an audience of industry leaders, investors, and policymakers. The India FinTech Forum remains committed to fostering innovation and supporting the growth of fintech ecosystems that will continue to revolutionize financial services in India and beyond.
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