Indian fintech revenue to reach $70 bn mark by FY30
India’s fintech industry offers a $400 bn value creation opportunity by 2030, says Elevation Capital
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New Delhi India’s fintech ecosystem, the third-largest globally, is expected to reach a scale of $70 billion in annual revenue by FY30, accounting for 18-20 per cent of the addressable financial services revenue pool, a report showed on Thursday.
India’s fintech industry offers a $400 billion value creation opportunity by 2030, according to the report by Elevation Capital, a leading early-stage venture capital firm.
“India’s fast-growing digital population, world-class Digital Public Infrastructure (DPI), and proactive regulators are three key tailwinds underpinning the fintech growth, which will expand into a $400Bn opportunity by 2030,” said Mridul Arora, Partner, Elevation Capital.
The report captured Elevation’s deep thesis on the fintech sector, insights from a comprehensive survey of more than 70 industry experts and conversations with over 20 industry leaders from prominent fintechs and financial services.
With more than 9,000 fintechs, India is home to the third highest number of fintechs globally. Fintech is now capturing 14 per cent share of India’s startup funding.
Around 84 per cent of respondents expect fintechs to play a significant or dominant role going forward, with SME lending, retail lending, fintech SaaS and wealth (advisory and brokerage) being categories that will see the most fintech growth and innovation.
