India ranks 63 in the World Bank Ease of Doing Business 2020 rankings. While the government has made rapid strides in improving access to credit for businesses, to scale up operations or for young entrepreneurs willing to start, many innovative minds have thought through this problem and have offered some financial and technological solutions.

India has the third-largest fintech ecosystem in the world. With the rapid increase in internet penetration along with favourable demography, India has the highest fintech adoption rate globally. Of the 2,100 FinTech companies present in India, over 67 per cent have been set up in the last 5 years. The fintech industry is expected to grow to $84 billion at a CAGR of 22 per cent.  

Let us look at some tech companies which have revolutionised the fintech space:


As many businesses cannot get access to funding due to traditional investment structures that have set high growth and various obligations as their parameters, Klub came out with a patron model that enables brands to get ready finance. It functions with the help of a community-focused revenue-based model.

Founded by Anurakt Jain and Ishita Verma in 2019, Klub makes use of financial innovation, community engagement and data-driven analytics to provide capital to many brands across sectors. In the last year, Klub has been able to fulfil the capital needs of more than 80 brands across India with a patron base of 2500.


In the modern digital space where data protection forms the bedrock of every company. When businesses expand to new markets they are constrained by the lack of developer resources and payment skills. This constrains growth and offers a setback to small businesses willing to expand.

Also read: Going Global: Malaysia’s homegrown fintechs take on the world

Founded by Anta Pattabiraman and Karthik Narayanan, Inai enables merchants to set up their payment stack with a single integration. This would enable merchants to add new methods, optimise their methods and future proof their stack. It allows merchants to connect with multiple payment service providers, wallets, BNPL platforms, open banking providers, fraud, BI and accounting in a single integration.


The logistic sector of India is deeply fragmented leading to an increase in logistical costs and delays in transportation. Logistics contributes to about 5% of Indian GDP but costs more than 14%. Despite most of the transportation done on the road, most truck owners have shunned from adopting technological solutions to make their work easy, systematic, and transparent. 

Founded by Luke Sequeira in 2016, Numadic is aimed to revolutionise India’s fleet management system. 

In the world of in-time deliveries and changing government regulations because of the pandemic relying on GPS alone is not enough. Numadic uses analytical data to suggest the best routes, fuel consumptions with the help of smart sensors which provides real-time information for the fleet manager.  


According to TransUnion, a global credit reporting agency reported that the percentage of suspected financial services digital fraud attempts increased 149 per cent in the first four months of 2021 as compared to the last four months of 2020. 

This has raised the demand for a safe digital ecosystem. Castler, which was founded by Vineet Singh, Dinesh Kumar and Ritesh Tiwari seeks to make use of technology and innovation by digitising the escrow accounts making them accessible for businesses. 

Digital transactions are expected to grow to 71.7 per cent of all payment transactions by 2025. This has provided companies like Castler which was launched in January this year sufficient scope to expand their operations.


We face many hiccups when we are about to pay our down payment towards buying our house. Homeville, founded by Hari Krishnan Kannappan, Lalit Menghani, Madhusudan Sharma, Shalin Sanjay Shah and Anjli Zutshi is a financial technology company in the housing space that aims to build a technology-driven housing credit enablement network through its multiple platforms and has adopted a hybrid capital approach to drive business growth.

Also read: How these four India-based startups are impacting the earth

It works on three platforms: Home Capital, Bharat Housing Network and HomeNxt. This would give a boost to accelerate the demand for real estate and give a boost to this sector which is presently in the doldrums owing to the pandemic.

Homeville is built on Open banking principles and creates significant operating leverage with an in-house built technology stack.


The Indian insurance industry is expected to grow at 14% CAGR from USD 110 Billion in 2020 to USD 400 Billion by 2030. However, the insurance sector is highly unorganised having high fixed costs of operations, small & expensive distribution and low adaption to technology. 

EnsuredIT, founded by Amit Boni emerged as a partner to brokers, corporate agencies and other sales networks to maximise their operations. This would not only help in increasing affordability but also enable better product-market fit and financial inclusion to empower end customers and Insurance Intermediaries with AI-based product platforms for transformational customer experience.


More than 3.25 million new cars and 20 million new two-wheelers are sold out in India of which more than 60 per cent are financed. With the increasing demand for personal transport in this pandemic, the two-wheeler industry is set to boom, especially among millennials.

Also read: Angel Investors: leading the charge for startup growth in Thailand

Founded by Harsh Saruparia and Sumit Chhazed, OTO offers customers a convenient option to finance their vehicle by introducing the option of two-wheeler leasing in India. Customers can get their vehicles in less than 30 minutes with no paperwork and have to pay 30 per cent less EMI. Customers may also choose to upgrade to a new vehicle or retain it by paying an amount.  

Need for financing options

India has got the potential to emerge as one of the major business destinations for the world. We are making considerable progress in various fields like investing in infrastructure and removing the need for multiple licenses. However, the private sector can also take considerable steps especially in fintech or even in logistics so that it frees up more wealth to be invested for gainful returns and improve the business environment in the country.

These startups will be pitching at the 9Unicorns Venture Catalysts demo day with other up-and-coming startups offering their own unique products and services. Join them on August 11 and 12 to connect with some of the most promising young startups in a virtual networking session. To learn more, visit their official page here.

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Photo by Pixabay from Pexels

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This article is produced by the e27 team, sponsored by 9Unicorns

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