- One in every three dollars of early-stage startup investments between the first three months of 2021 in India went to new companies looking to make their way in the fintech space.
- LeapFinance, Zolve and CoinSwitch account for 69% of the $110 million that followed into these nascent companies in the first quarter.
- Venture capitalists are looking to get in on the ground floor of the new customers and new ideas that are burgeoning due to the digital push of the COVID-19 pandemic.
- Here is a quick list of the top five fintech ideas that investors are pouring their money into — and why.
Fintech startups are a fan favourite among investors looking for their money to make them more money. One in every three dollars of early-stage startup investments between the first three months of 2021 in India went to fintech.
Startups in the space attracted $110 million in the first three months of the year, according to Venture Intelligence. And, the lion’s share went to education finance startup LeapFinance, cryptocurrency trading platform CoinSwitch and neo banking startup Zolve. Together, they accounted for 69% of the total $110 million in investments.
New customers indulging in credit and millennials waking up to the stock market to capitalise on its recent volatility has made fintech the crowd favorite among venture capitalists. Two-year old startup, Leap Finance saw the largest early-stage investment between January to March 2021 of $17 million.
It’s not just an Indian phenomenon. “The business model at the heart of banking is broken and has lost matters the most — the customer,” Sebastian Siemiatowski, CEO of lending and US-based e-commerce platform Klarna, said in Business Insider’s latest
Global Trends Report.
These are the top five fintech ideas that are drawing the most amount of money: