State Of Indian Fintech Report Q1 2023
The total addressable market for fintech in India is expected to reach $2.1 Tn by 2030, with a compound annual growth rate (CAGR) of 18% from 2022. Since 2014, the sector has attracted more than $25.8 Bn in investments, minting 22 unicorns and 33 soonicorns in the process. With the onset of a funding winter in 2022, the fintech sector has been hit hard, and both deal value and deal count declined by 40% and 13.5% YoY, respectively. But despite these challenges, the future of fintech in India looks promising. This report provides an overview of the current state of the fintech sector while focussing on the startups driving innovation and growth. In particular, it highlights India’s rapidly growing B2B lending market, set to disrupt traditional lending models and transform the financial landscape.
