Inc42 - State of The Indian Fintech, Q2 2023

The State of the Indian Fintech Report Q2 2023 is a comprehensive document that provides insights into India's fintech landscape. The report covers various aspects of the Indian fintech ecosystem, including market size, funding trends, key players, and growth drivers. According to the report, the fintech sector has emerged as a major recipient of investments in the Indian startup ecosystem, with a five-year CAGR of 20% (2019-2022). The fintech sector ranks second in terms of funding, contributing 19% of the total $141 Bn raised by Indian startups between 2014 and H1 2023, only behind the ecommerce sector, which accounts for 24% of the funding. The report also highlights that the fintech market opportunity in India is projected to reach $2.1 Tn by 2030, growing at a compounded annual growth rate (CAGR) of 18%. Additionally, the report notes that fintech leads the way among upcoming Indian unicorns, comprising 32% of the total. The report also provides insights into the cross-border payments market size, value chain, and notable investors backing Indian cross-border payment startups. Overall, the report provides a comprehensive overview of India's fintech landscape and highlights the significant growth potential of the sector.