35 Mature Indian Fintech Startups Ready For IPO: Each Valued More Than Rs 4000 Crore


Sheetal Bhalerao

Sheetal Bhalerao

Aug 31, 2024


At present, the Indian fintech ecosystem is cumulatively valued at over $100 billion.

35 Mature Indian Fintech Startups Ready For IPO: Each Valued More Than Rs 4000 Crore

But,  it is still in its “middle” phase of development, with the potential to create 2-3x value in the next decade.

“Only 40-60% of fintech founders feel fully prepared in terms of profitability, leadership, and governance—critical factors for a successful IPO,” as per a report titled State of the Fintech Union 2024.

Emergence Of 35 Mature Fintech Startups

As mentioned in a report by Boston Consulting Group (BCG) and Z47 (formerly Matrix Partners India), almost 35 Indian fintech firms, each valued at $500 million or more, have reached a mature stage, up from just 13 in 2020.

This report definitely signals the sector’s rapid maturation further highlighting that multiple fintech startups are now contemplating or approaching the IPO stage, reflecting the competitive race for public capital in the coming years.

Usually, Indian startups take around 3.5 to 4 years to go public once they earn the unicorn status.

Although, the current market momentum is undeniable, as per the report.

In near times, the IPO filings have surged, almost doubling from 75 annually in 2018-2019 to 120-140 per year between 2021 and 2023.

In the meantime, the Indian markets remain bullish, competition for capital across sectors is fierce.

“Only 40-60 percent of fintech founders feel fully prepared in terms of profitability, leadership, and  governance—critical factors for a successful IPO” said in a report titled State of the Fintech Union 2024.

This report says, “nearly 70 percent of fintechs listed in India over the past five years saw their share prices decline within six months of listing,” underlining the challenges post-IPO.

Further adding, “Successful IPOs will require a clear equity story backed by strong fundamentals in financials, governance, and a well-run IPO office that prepares not just for the journey but also for the expectations post-IPO.” 

It appears that the Fintech companies such Mobikwik have filed their draft IPO papers and are in the process of listing this year.

Other players such as Phonepe, Groww, Perfios, PayU, Pine Lab, Fibe among others have shown interest in going public in the next two to three years.

Witnessing Sharp Correction

As we have seen that the recently listed fintechs such as Paytm and PB Fintech, the IPO stories were not well received by the public market at large leading to a dip in their stock performance post IPOs. 

But, we can witness a sharp correction since last year on the back of growth numbers.

Besides this, this report also emphasizes that pre- and post-IPO fintechs are increasingly focused on unit economics, profitability, and investments in technology, infrastructure, and security.

Here market share and growth remain the primary goals for segments such as LendingTech, InsurTech, and SaaS/InfraTech, PayTech firms are prioritizing unit economics. 

It appears that the profitability outlook is improving across segments, with Neobank and InsurTech showing the most significant positive shifts since 2022.


Sheetal Bhalerao
Sheetal Bhalerao
  • 796 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online