Out of the 100 unicorns in India, 21 are from Fintech. Next 100 unicorns, 31 are expected to be from fintech. Due to the Covid-19 outbreak and ensuing lockdowns, India has the largest percentage of fintech adopters in the world (87 per cent vs. 64 per cent globally).
According to a NewsVoir analysis, the fintech market is anticipated to rise by $150 billion by 2023 as a result of the influx of new companies and foreign investment. Wealthtech, insurancetech, and fintech are among the industries that have been influenced by substantial regulatory reforms implemented by the RBI, IRDA, and AMFI. The RBI’s new launch of the eRupee is a major development for the legacy wallet market.
