IFTA unveils 30 high potential fintech companies for 2023

India FinTech Forum is back with the eighth edition of its fintech event IFTA and has unveiled 24 high-potential startups and 6 scaleups leading the financial technology sector from over 1,250 applications received worldwide. A distinguished jury will evaluate these companies, and the winners will be announced in Mumbai on November 01, 2023. Notably, past winners have cumulatively raised investor funding of over 6.3 billion dollar till date.

Sougata Basu, Founder, CashRich and Executive Committee Member, IFF, said, “At IFTA, this year’s shortlisted startups shine with enormous potential. Past winners at IFTA include Razorpay, Open, Simpl, and Pismo (acquired by Visa for 1 billion dollar in 2023), and they exemplify the transformative power of business innovation.”

IFTA 2023 will see participation from top industry leaders like Nilesh Shah, Managing Director of Kotak MF, Aashish Somaiyaa, CEO of WhiteOak Capital MF, Swarup Mohanty, CEO of Mirae Asset MF, Nitin Chugh, Deputy MD and Head of Digital Banking of State Bank of India, Konstantin Peric, Deputy Director - Financial Services for the Poor at Bill & Melinda Gates Foundation, Jagdish Narayanan, CIO of Reliance Jio Payments Bank, Ajay Rajan, Country Head - Digital and Transaction Banking at YES Bank, and many more.

Also, recognizing the need to foster financial literacy among college students before they start their careers, the India FinTech Forum has launched the Fintech Olympiad. The Olympiad has garnered support from industry giants such as Zerodha Varsity, CashRich, and Clear. The inaugural edition itself received participation from students across 2000+ colleges in India and abroad. The national finals will be held at IFTA in Mumbai on November 01, 2023.

Here are the names of high-potential fintech startups for 2023 -

1. Agrim Housing Finance (India) is empowering underserved communities with digital home loans using advanced technology and innovative algorithms.
2. Ayekart Fintech (India) offers traditional business networks by digitizing the food & agri value chain with embedded finance and services.
3. Bureau (India) is a no-code, identity decisioning platform that offers a complete range of risk, compliance and fraud monitoring solutions innovated with AI.
4. CreditNirvana (India) is pioneering ML Analytics driven and digital first, end to end debt management platform.
5. Deepvue.tech (India) provides APIs for automated KYC, enhanced due diligence checks, and risk-based underwriting so that lenders, fintechs and neobanks can launch products faster.
6. Dhan (India) is an online stock trading and investing platform made for super traders and long-term investors that aims to provide essential features at industry standard pricing.
7. FidyPay (India) simplifies payment processes for businesses by automating transaction mapping, centralizing reconciliation, and reducing reliance on fragmented bank statements.
8. FinMapp (India) offers financial health gap assessment, tax planning, risk & age-based profiling, and a comprehensive suite of financial products in their app.
9. FinnUp (India) is building a B2B enterprise debt platform serving SME, large corporates and financial services.
10. Hyperface (India) offers Credit Cards as a Service (CCaaS) platform so that banks and fintechs can launch and manage their card programs quickly within regulatory guidelines.
11. Insurance Samadhan (India) offers Polifyx, to resolve policyholder grievances through a tech-enabled platform.
12. Jar (India) is built on the idea of helping Indians to make investing a habit. It provides a unique solution to save money daily and invest automatically in digital gold.
13. Kniru (India) is an AI-Driven financial advisor that manages finances with minimal human involvement and in an optimal manner to provide precise, personalized, actionable insights.
14. MODIFI (Netherlands) is a global business payments company that helps exporters and importers finance and manage their international trades. It helps to optimize cash flows, bridge financing gaps and provide strong support for export enterprises.
15. Mool (India) is an AI-powered system that employs a set of intelligent rules to maximize employee’s benefits from salaries and is tailored as per their preferences while remaining compliant with tax rules and regulations.
16. Onsurity (India) is a healthtech company providing monthly, comprehensive employee healthcare to SMEs, MSMEs, startups and growing businesses.
17. Propelld (India) provides student-friendly private study loans for learners in partner institutions with customized loan products through a fully digital loan process.
18. Qapita (Singapore) automates equity management for private companies from inception to IPO & beyond, including workflows around CapTables, ESOPs, due-diligence, and transactions.
19. QuantMan (India) provides robust back testing features with five years of options data, where years of testing process is done in less than 90 seconds.
20. SandLogic (India) is a full-stack enterprise AI company that provides Low-code and No-code (LCNC) platforms to develop deep learning applications to run on edge devices.
21. SatSure (India) through SatSure Sage leverages satellite imagery and offers accurate risk assessment, customer sourcing, etc. for better decisions in agricultural lending.
22. SaveIN (India) enables healthcare providers to offer instant check-out finance to their patients embedded at point of care and splitting of medical expenses into 0% interest or low-cost EMIs.
23. Tutelar (India) offers solutions for risk protected onboarding, compliance, payment fraud detection and dispute management.
24. Volt Money (India) offers cash loans, credit lines and flexible EMIs to retail investors against financial assets like mutual funds instantly.

6 companies shortlisted for the Scaleup of the Year category:

1. Credility (India) focuses on lending tech solutions, empowering loan officers to easily manage their leads, qualify them and quickly onboard potential customers.
2. Fibe (India) focuses on tech-savvy young Indians, and provides quick cash loans using advanced credit scoring for better customer profiling.
3. Finnable (India) is working to make personal loans available to salaried professionals quickly using technology, with the support of employers.
4. Partner HUB (Hungary) offers banks and enterprises a customized invoice management system on the market.
5. Think360.AI (India) is dedicated to serving the BFSI sector to revolutionize credit decisioning, fraud detection, risk assessment etc.
6. Trustt (India) provides AI-powered SaaS-based core banking platform to banks, NBFCs, and fintechs.

About India FinTech Forum

India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate through consultations, round tables, webinars and meet-ups. With 4000+ fintech companies and 35,000+ individuals as members, it strives to enhance the ecosystem so that India leads the global fintech innovation wave.