Whereas Indian companies have been grappling with the losses and the downturn introduced on by the pandemic, among the many few sectors that witnessed development even amid the disaster is the fintech sector. An Inc42 Plus evaluation revealed that fintech startup funding grew by 17% quarter-over-quarter (QoQ) in Q2 FY2020. The full funding scored by the sector between the 2014 and H1 2020 by fintech startups within the nation stood at $10 Bn throughout 692 offers.
Due to its options which have offered the SMB sector ease of lending in addition to funds, particularly amidst the pandemic, fintech startups are accountable for a lot of Indian SMBs’ development and scale. Even then, there nonetheless lies a number of untapped potential for the sector from this market.
To decode these alternatives for the phase in addition to the challenges, tendencies and extra, to assist startups cater to the ‘Next Billion’ customers in India, Inc42 in affiliation with tech big Microsoft launched ‘The Dialogue’, focussing on agritech, healthtech, fintech and horizontal SaaS.
The second episode on this four-part sequence, ‘Fintech For India’s Subsequent Billion: Empowering Digital Transformation Of India’s SMBs’, introduced collectively a panel of stalwarts and consultants, debating on the potential of the Indian market in addition to the alternatives and challenges in reaching the underserved viewers.
The Dialogue: Fintech For India’s Subsequent Billion
Moderated by Inc42 cofounder and CEO Vaibhav Vardhan, the dialogue introduced collectively fintech startup Karza cofounder and CBO Gaurav Samdaria, 3one4 Capital founding associate Siddharth Pai, Vijayant Rai, nation head for BFSI sector at Microsoft India and Deena Jacob, cofounder and CFO of neobanking startup Open.
The dialogue elaborated on and offered perception into varied points equivalent to:
- Position of fintech in empowering Indian SMBs
- The affect of the brand new FDI norms that mandate authorities approval for funding from land-border nations equivalent to China
- The challenges of working with massive public sector banks in addition to the legacy credit score bureau
- The rise of neobanking startups and digital-first methods to onboard the subsequent billion customers and extra