India: An Abundance of Opportunities
3rd Largest Startup Ecosystem with the 2nd Largest Population
Last month, WHub co-organized two events focused on the Indian FinTech Startup Ecosystem — FinTech Ecosystem Overview and Investor Masterclass. It provided a wholesome picture of the FinTech landscape in India and how investors should target the country with the second largest population.
Here is an overview of the Fintech Landscape in India:
Different categories of Fin-tech firms:
Fintech firms in India can be broadly categorized into the following segments:
We were honoured to have Shanti Mohan, Founder of LetsVenture, one of the largest Angel Investors Network in India, share with us her knowledge and experience on the 3rd largest startup ecosystem in the world.
The FinTech Industry is growing onward and upwards with reduced operational cost due to technology, regulations turned business friendly and the collaboration between traditional and new age firms.
Government Initiatives in India for Digital Shift:
- Aadhaar Mandatory: 1.2 billion Aadhaar users
- Financial Inclusion through rapid increase in number of Bank account holders: 300 million Account holders
- Mandatory E-KYC for bank accounts: 200 million E-KYC wallet users
- Low price cell-phones and decreased data costs increased internet penetration: 600 million + Internet Users
- Digital Platforms Advocation to adopt mobile apps: 9 GB Monthly data consumption per user
- Government initiatives for digitalized customer transactions — UPI, GST: 300 million + Monthly UPI transactions
LetsVenture has analyzed the FinTech Ecosystem with regards to its growth, funding analysis of FinTech firms and which business models it is expected to affect. Read the full report here.
“If you look at the Indian Ecosystem, we have 1.2bn people, there is opportunity in terms of consumers.”- Shanti Mohan, Founder of LetsVenture
“If you’re creating a product for India, the complexities are just as you are creating a product for all of Southeast Asia as India is extremely heterogeneous” - Shanti Mohan, Founder of LetsVenture
“The next 3 years are all about Wealth Management” - Shanti Mohan, Founder of LetsVenture
“Angel Investing is simple, but not easy. There is no formula for successful angel investing. Even VCs & Angel Investors who make the best returns to this day say, they don’t know which startups will be unicorns.” - Shanti Mohan, Founder of LetsVenture
Apart from that, during the Investor Masterclass, India, Hong Kong and the Greater Bay Area formed a bond through the MoU signing between AngelHub and LetsVenture!
“The partnership between AngelHub and LetsVenture will enable both platforms to provide investment opportunities across geographies.” Shanti Mohan
“The venture between AngelHub and LetsVenture is relevant for Investors and Startups in Hong Kong and the Greater Bay Area who are looking to expand into India and vice versa.” — Karena Belin, Cofounder WHub and AngelHub
Interested in the Asian FinTech Landscape? Get insights through the Hong Kong FinTech White Paper 2019 by WHub! Download now for free!