Mumbai has cemented its position as India’s most promising startup hub, surpassing Bengaluru in 2024 in terms of funding. The city’s fintech startups benefited from a remarkable <a href="https://inc42.com/buzz/maharashtra-to-launch-its-first-incubator-m-hub-to-support-startups-cm-fadnavis/#:~:text=To%20establish%20itself%20as%20the,M%2DHub%20is%20almost%20complete">154% year-on-year funding increase</a>, which rose to $3.7 Bn in 2024 from $1.5 Bn in 2023. 
Mumbai-based fintech ventures have particularly excelled in attracting growth and late-stage funding, with the city’s median ticket size increasing <a href="https://inc42.com/buzz/maharashtra-to-launch-its-first-incubator-m-hub-to-support-startups-cm-fadnavis/#:~:text=To%20establish%20itself%20as%20the,M%2DHub%20is%20almost%20complete">15% YoY to $3.4 Mn</a>. This investor confidence stems from Mumbai’s unique combination of financial expertise, technical talent and regulatory proximity. 
The <a href="https://fintech.maharashtra.gov.in/">Mumbai Fintech Hub</a>, established in 2018, has played a pivotal role in nurturing the city’s fintech ecosystem by facilitating investment opportunities and fostering collaboration between startups, financial institutions and regulators. 
This initiative complements Maharashtra’s broader support for startups through the Maharashtra State Innovation Society (MSInS), which provides a structured framework for innovation and growth. 
The city&#8217;s fintech startups are operating in a rapidly expanding market, with India’s fintech super apps user base projected to reach <a href="https://fintech.maharashtra.gov.in/https:/asset.inc42.com/2025/04/Q1-Funding_v6.pdf">837 Mn by 2028</a>. 
Mumbai is well-positioned in the nation’s 700+ funded financial tech startups to capitalise on this growth, particularly in segments like digital payments, wealth management and regulatory technology. 
With global investors like Blackstone and Amazon Web Services making <a href="https://inc42.com/buzz/maharashtra-to-launch-its-first-incubator-m-hub-to-support-startups-cm-fadnavis/#:~:text=To%20establish%20itself%20as%20the,M%2DHub%20is%20almost%20complete">commitments</a> to city&#8217;s infrastructure and the state government planning to launch the M-Hub incubator (the first in the state), Mumbai’s fintech ecosystem is poised for continued leadership in India’s financial technology revolution. 
As Mumbai continues to ride India’s startup wave, here’s a list of Mumbai-based fintech startups&#8230;

Mumbai's fintech startups benefited from a remarkable 154% year-on-year funding increase, which rose to $3.7 Bn in 2024 from $1.5 Bn in 2023.

Fintech Startups In Mumbai

Fintech Startups In Mumbai