India's fintech story has entered a new chapter.

The first wave solved access. UPI transformed payments. Digital lending, insuretech and online investing brought millions into the formal financial system. Today, fintech is no longer about proving that Indians are willing to transact online. Thankfully, that battle has already been won.

We are now asking a different question: where does the next wave of opportunity lie?

In a conversation with Chandra R of Moneycontrol, Anand Lunia, Founding Partner at India Quotient and anchor investor for the fintech cohort of Leap to Unicorn Season 4, presented by IDFC FIRST Bank in association with Moneycontrol and CNBC-TV18, shared his approach to backing founders early - often before others see the potential in what they are building.

For Anand, it’s not about chasing what’s fashionable. It’s about identifying what could become inevitable.

Don't Build for Today's Hottest Market

By the time everyone agrees a sector is exciting, seed investors are already late. That's why Anand Lunia isn't looking for founders building the obvious next brokerage, lending platform or insurance marketplace simply because those categories are already attracting capital. Instead, he's looking for businesses that will make perfect sense three to five years from now, even if they don't today.

History, he argues, keeps repeating itself. Every time the market believes a category has been won, someone comes along with a sharper focus. Zerodha didn't end brokerage. Groww expanded it. Then came specialist platforms like Dhan, proving there was still room for products designed around specific users rather than the mass market.

Follow Consumer Behaviour Rather Than Industry Trends

The best fintech founders don't just study fintech; they study people.

Consumers today are far more comfortable sharing financial information, completing digital onboarding journeys and trusting online........

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