India: a fast-growing & emerging fintech ecosystem 

A vastly underserved market and attractive regulatory framework makes India ripe for fintech disruption     

▪ India is home to 4,200+ fintech companies and has raised $23.6bn in VC funding since 2014. In 2021 alone, funding raised by fintechs grew by 3x+ to $8.0bn. By 2030, the Indian fintech industry is forecast to reach $200bn in revenues with the growth enabled by shifting regulatory, cultural, and macro-economic dynamics 

▪ A largely underserved market across multiple financial products continues to be the primary catalyst for growth and innovation. Transitioning from a cash-based economy to a digital economy unlocks several large opportunities within fintech.

Increased digitalisation paves the way for many fintech solutions including payments, banking, lending, and wealth management. BCG estimates India’s digital payments industry will triple to $10tn by 2026, contributing to 65% of all payment transactions in the country 

▪ A pro-fintech regulatory framework has encouraged innovation and access to the market. Innovation hubs, startup incubators, and regulatory sandboxes are some of the many initiatives the Reserve Bank of India (RBI) is implementing to accelerate the penetration of financial services. Additionally, the government is increasingly adopting fintech/regtech solutions to augment the delivery of new regulation