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Summary:

India ranked third globally in fintech funding in 2024, despite a 33% decline to Rs. 16,475 crore (US$ 1.9 billion), according to Tracxn's report. This drop reflects reduced demand and geopolitical challenges. Funding had been Rs. 24,279 crore in 2023 and Rs. 48,558 crore in 2022. Despite the decline, India remains among the top three fintech ecosystems, behind the US and UK.

 

In 2024, India saw two new fintech unicorns, Money View and Perfios, up from one in 2023. Q3 funding peaked at Rs. 6,980 crore, driven by digital lending, which made up 64% of total funding. However, late-stage, early-stage, and seed funding declined. Despite challenges, eight IPOs marked a 300% rise, with Bengaluru leading as the top fintech hub.

 

Source: IBEF

 

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