Fintech Startups To Watch: 5 Indian Fintech Startups That Caught Our Eye In March

Backed by UPI-led scale, rising credit adoption, and over $32 Bn in funding, India’s fintech ecosystem is expanding rapidly, with strong momentum in both private and public markets

Lending-focused startups are attracting a growing share of funding and are expected to dominate fintech revenues by 2030, even as large gaps in financial penetration remain

Against this backdrop, Inc42 is launching “5 Fintech Startups To Watch” to spotlight emerging startups building across India’s fintech ecosystem

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India processed over 228 Bn UPI transactions in 2025, with a total value nearing ₹300 Lakh Cr, surpassing the combined digital transaction volumes of several major global economies. According to the PIB, UPI alone now accounts for nearly half of all non-cash transactions worldwide.

This scale was unthinkable a decade ago.

Thanks to the UPI, India’s fintech ecosystem has expanded rapidly over the past 10 years. It has now become the third-largest globally by unicorn count, with........

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