Fintech industry is going through a major technological transformation while analyzing each part of conventional financial management. A major alteration is going to occur as FinTech organizations assume taking over the financial industry. There are signs representing the fact that FinTech is rapidly filling in the gaps that the traditional banks have left wide open. E-signature, new RBI guidelines is reshaping the industry. There are few fintech startups to watchout for startups this year:
- Satya MicroCapital
Satya MicroCapital Ltd is a firm, headquartered in New Delhi, serving low-income entrepreneurs in India’s rural and urban areas. The firm provides prompt, convenient and affordable collateral-free credit to unbanked and underserved people through a strong credit assessment and centralised approval system.
The company began its operations in October 2016. Satya MicroCapital has registered impressive growth, having achieved an Assets under Management (AUM) value of over Rs. 100 crore within just one year of launching its operations, thus emerging as one of the fastest growing MFIs in the country. Satya MicroCapital also raised equity funding of 50 Cr from Japan-based Gojo & Company Inc.
- CoinTribe
CoinTribe, headquartered in Gurugram, is a leading online loan disbursement platform that provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks.
CoinTribe exercises an entirely digital loan assessment and decisioning process, which requires minimal paperwork as well as documentation and involves no application cost for loan delivery through its platform.
CoinTribe has been funded by $10 million from Sabre Partners in Series B. With the current round of funding, the total equity capital raised by CoinTribe stands at $15 million. CoinTribe’s lending partners include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital.
- GIBL.In
Greenlife Insurance Broking Limited is India’s largest online insurance distribution network certified under the Insurance Regulatory and Development Authority of India (IRDAI). GIBL.In endeavors to provide the lowest prices possible on online general insurance policies from top-rated companies, in order to meet the needs of its customers across social strata and demographics.
GIBL.In is driven by its focus on reaching out to rural and urban customers through the implementation of advanced technology in the online insurance distribution sector and to bring offline customers to the online platform using its unique agent-based POS Program. GIBL.In offers customers a web-based portal and a mobile app-based platform through which they can buy insurance on-the-go. Customers can easily search for, compare, buy or renew insurance products at GIBL.In from 3000+ policy options.
- Aye Finance
Aye Finance is a new age finance company providing business loans to the small and micro enterprises across India. Founded by professional bankers Sanjay Sharma and Vikram Jetley Aye Finance continues to chart an exciting growth path in this underbanked segment while maintaining a high benchmark for credit quality.
As a Non-Banking Financial Company, Aye Finance is proud to make business loans against the mortgage or simple hypothecation accessible to India’s thriving and underserved MSME sector. The biggest news from the brand in 2018 happens to be 21.5mln dlr fundraise from Capital G (Google).
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