India 2015: A record year for fintech with $1.2b funding & 174 new company launches

The year 2015 was a prelude to transformation in the lending, payments and personal finance space mostly due to the pace at which financial technology (fintech) companies have emerged in India. As of today, there are over 750 fintech companies in India. Of these, 174 were launched in 2015 itself, according to Traxcn, a data analytics company. In 2015, investment in fintech touched $1.2 billion, finds Traxcn, a large part of which was the $890 million raised by Paytm. In the previous year, investment stood at $145.1 million. In the past three years, global investors have plowed more than $10 billion into India’s consumer internet companies, fueling a boom in startups that create apps, according to Bloomberg. The global story was no different.