India’s prestigious fintech event, the India FinTech Awards (IFTA), organized by the India FinTech Forum, is now raring to launch the 8th installment, in October this year.
Recognized as the launchpad of innovation and the breakingpoint of groundbreaking fintech startups, this annual fintech event is all set to unveil a cohort of 24 promising startups and 6 scaling champions that are at the forefront of the financial technology sector.
Handpicked from a pool of over 1250 applications hailing from 13 nations, including countries like Australia, Georgia, Hong Kong, Hungary, India, Netherlands, Nigeria, Poland, Portugal, Singapore, Turkey, UK, and the USA, these trailblazers will undergo rigorous evaluation by a panel of distinguished judges.
The momentous winners will be revealed during IFTA 2023, scheduled for the 1st of November, 2023, at the Courtyard by Marriott, Mumbai. The event will adopt a hybrid format, with online sessions taking place on the 30th and 31st of October, leading up to the grand finale.
Mr. Sougata Basu, Founder of CashRich and an Executive Committee Member of the India FinTech Forum, expressed his enthusiasm, stating, “This year, IFTA’s shortlisted startups are brimming with immense potential. Notable past winners, such as Razorpay, Open, Simpl, and Pismo (acquired by Visa for $1 billion in 2023), exemplify the transformative power of business innovation. With a membership base exceeding 4,000 fintech companies and over 35,000 individuals, the India FinTech Forum remains committed to fostering purpose-driven innovation.”
The India FinTech Forum takes pride in presenting the following high-potential fintech startups for 2023:
- Agrim Housing Finance (India) – Revolutionizing home loans for underserved communities through digital technology and innovative algorithms.
- Ayekart Fintech (India) – Digitizing the food and agri value chain, empowering traditional business networks with embedded finance and services.
- Bureau (India) – Offering a no-code, identity decisioning platform with a complete range of risk, compliance, and fraud monitoring solutions driven by AI.
- CreditNirvana (India) – Pioneering ML Analytics-driven, digital-first end-to-end Debt Management Platform.
- Deepvue.tech (India) – Providing APIs for automated KYC, enhanced due diligence checks, and risk-based underwriting to accelerate product launches for lenders, fintech companies, and neobanks.
- Dhan (India) – An online stock trading and investing platform designed for Super Traders and Long-Term Investors.
- FidyPay (India) – Simplifying payment processes for businesses through automated transaction mapping, centralized reconciliation, and reduced reliance on fragmented bank statements.
- FinMapp (India) – Empowering financial literacy with a mobile app offering financial health assessments, tax planning, risk profiling, and a suite of financial products.
- FinnUp (India) – Building a world-class B2B enterprise debt platform catering to SMEs, Large Corporates, and Financial Services.
- Hyperface (India) – Pioneering Credit Cards as a Service (CCaaS) platform for banks and fintechs to efficiently launch and manage card programs.
- Insurance Samadhan (India) – Revolutionizing the insurance industry with the Polifyx mobile app, resolving policyholder grievances through a tech-enabled platform.
- Jar (India) – Promoting investing as a habit among Indians, enabling daily savings and automatic investments in digital gold for the best gold rates.
- Kniru (India) – An AI-driven financial advisor offering precise, personalized, and actionable insights with minimal human involvement.
- MODIFI (Netherlands) – A global business payments company facilitating exporters and importers in managing international trades, optimizing cash flow, and bridging financing gaps.
- Mool (India) – An AI-powered system maximizing employee benefits from salary packages while remaining tax-compliant.
- Onsurity (India) – Providing comprehensive employee healthcare to SMEs, MSMEs, Startups, and growing businesses.
- Propelld (India) – Offering student-friendly private study loans with a fully digital loan process.
- Qapita (Singapore) – Automating equity management for private companies from inception to IPO and beyond.
- QuantMan (India) – Providing robust backtesting features and fully automated live order execution.
- SandLogic (India) – A full-stack enterprise AI company offering LCNC platforms for developing Deep Learning applications on Edge devices.
- SatSure (India) – Leveraging satellite imagery for accurate risk assessment, customer sourcing, and portfolio monitoring in agricultural lending.
- SaveIN (India) – Enabling healthcare providers to offer instant, check-out finance to patients through 0% interest or low-cost EMIs.
- Tutelar (India) – Offering solutions for risk-protected onboarding, compliance, payment fraud detection, and dispute management.
- Volt Money (India) – Allowing retail investors to access cash loans, credit lines, and flexible EMIs against financial assets like mutual funds while keeping their assets intact.
In addition, IFTA has identified a carefully curated shortlist for the Fintech Scaleup of the Year category, evaluating companies on their products, services, and traction in the market.
The top 6 companies shortlisted for the Scaleup of the Year category include:
- Credility (India) – Focused on lending tech solutions, empowering loan officers to manage leads, qualify customers, and streamline onboarding.
- Fibe (India) – Providing instant cash loans to tech-savvy Indians, including ‘new to credit’ borrowers, through innovative credit scoring systems.
- Finnable (India) – Offering hassle-free personal loans to salaried professionals with the support of technology and employers.
- Partner HUB (Hungary) – Providing a white label solution for e-invoicing and financial services, facilitating access to invoice data for banks in open finance ecosystems.
- Think360.AI (India) – A leading AI technology firm dedicated to transforming credit decisioning, fraud detection, risk assessment, and customer onboarding in the BFSI sector.
- Trustt (India) – Offering an AI-powered SaaS-based Core Banking Platform tailored for banks, NBFCs, and fintechs.
IFTA has a storied history of highlighting startups that have gone on to achieve remarkable success. Cumulatively, past winners have secured investor funding exceeding $6.3 billion to date, a testament to the event’s reputation for recognizing top-tier talent in the fintech industry.
IFTA 2023 promises to feature prominent industry leaders, including Mr. Nitin Chugh, Deputy MD and Head of Digital Banking at State Bank of India, Mr. Konstantin Peric, Deputy Director of Financial Services for the Poor at the Bill & Melinda Gates Foundation, Mr. Jagdish Narayanan, CIO of Reliance Jio Payments Bank, Mr. Ajay Rajan, Country Head of Digital and Transaction Banking at YES Bank, Mr. Nilesh Shah, Managing Director of Kotak Mahindra Asset Management, and many more.
About India FinTech Forum: The India FinTech Forum is a non-profit initiative that provides a platform for fintech companies to collaborate through consultations, round tables, webinars, and meet-ups. With more than 4,000 fintech companies and over 35,000 individuals as members, the forum is dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave.
