India’s fintech landscape has witnessed exponential growth over the past decade, with the country now hosting over 2,100 fintech startups and boasting the highest fintech adoption rate globally at 87%. Despite this impressive progress, experts like Anil Joshi argue that India is yet to experience a true fintech boom.
In this insightful podcast, Team Excluto sits down with Anil Joshi to delve into the untapped potential of the Indian fintech sector, discussing the key challenges and opportunities that lie ahead.
When you think about the current trends and challenges in the startup landscape, if you could wave a wand and change something, or if there’s a trend that you wish would accelerate even faster, what would that be?
-Vijay Rajendran, Team Excluto
It’s growing very fast, Vijay. If I give you an analogy, when I started my fund—I’m not talking just about angel investment per se, but of course, I can share that too. So, in 2006, both these groups started with a handful of people. When I took up the role of president, I think the total number of investors between the two groups was around a hundred, if I’m not wrong, maybe slightly more or less. From 2006 to 2010, both groups could only attract around a hundred investors. Fast forward to today, from 2010 to 2024, I think we would have more than 100,000, or maybe much more. I’m talking about the organized groups with registered angel investors. So, from 100 to 100,000—that’s the growth. I started my fund in 2015.”
-Anil Joshi
Read More About FinTech Industry
The Indian Startup Ecosystem: Key Sectors and Growth Opportunities
Foreign Direct Investment (FDI) in India: Inflows in 2023 and last 10 years