More Fintech companies are expected to join the bandwagon in this and next year
Financial technology companies have gain mileage over the last 5 years. Globally, the investment in online MSME finance market has grown by about 45% y-o-y and many billion dollars has been ploughed into startups in the online MSME finance market space in FY’2015 alone. With the influx of investment, finance and banking are being transformed by innovations such as peer-to-peer models, crowd funding, and contactless payments. At the global level, these changes have been driven not by established financial players, but by startups including now-huge players such as LendingClub, Kickstarter, and Funding Circle. The Indian market also comprises of players such as Faircent, iLend, Lendbox and Loanmeet.

India, a new generation of startups is taking shape in the financial sector from payments to wealth management to peer-to-peer lending to crowdfunding. These startups want to revolutionize the entire financial system in India and improve the quality of financial services. Online MSME finance market startups are looking forward to changing the way traditional financial system works in the country and aims to offer better deals to the borrowers and lenders who congregate on their platform.