India’s dynamic FinTech industry has over 2,100 FinTechs of which 67 per cent have been set up over the last 5 years alone. The total valuation of the industry is estimated at $ 50-60 billion.
March 13, 2021 / 05:54 PM IST
India’s financial technology companies are poised to become three times as valuable in the next five years, reaching a valuation of $ 150-160 billion by 2025, according to a report. The report unveiled on Saturday details the findings from the study that Boston Consulting Group (BCG)and FICCI undertook to size the value-creation potential and identify imperatives for India’s FinTech growth.
“India is strongly poised to realise a FinTech sector valuation of $ 150-160 billion by 2025, translating to an incremental value-creation potential of approximately $ 100 billion. It is estimated that to meet this ambition, India’s FinTech sector will need investments of $ 20-25 billion over the next five years,” says the report. India’s dynamic FinTech industry has over 2,100 FinTechs of which 67 per cent have been set up over the last 5 years alone. The total valuation of the industry is estimated at $ 50-60 billion.
China’s Ant Group CEO Simon Hu resigns, Eric Jing to replace him
The industry’s growth has been undeterred by the pandemic, as it has seen the emergence of three new Unicorns and five new Soonicorns ($ 500 mn+ valuation) since January 2020.
Prateek Roongta, Managing Director and Partner, Boston Consulting Group India said, “We believe India’s FinTechs are at the precipice of significant value-creation of $ 100 billion over the next five years. To actualise this potential, the industry would require investments to the tune of $ 20-25 billion till 2025. Consequently, the number of Indian FinTech Unicorns will more than double over the next few years.”