India FinTech Forum unveils 23 high-potential fintech startups

The winning startup will be awarded the prestigious IFTA Fintech Startup of the Year award on November 30, 2022 during an all-day in-person conference in Mumbai. In another category, 6 companies incorporated before 2015 will compete for the Fintech Scaleup of the Year award.

Winners of previous editions of IFTA have included household names such as Capital Float, ZestMoney and Simpl. Past winners of IFTA have collectively raised over US$4 billion in VC funding to date. Nitya Sharma, co-founder and CEO of Simpl and winner of Fintech Startup of the Year 2020 says: “This award is a recognition of all the hard work the team has put in to create a new category of payments and a ground-breaking consumer experience.”

1200+ applications were received for 20+ award categories from countries including Australia, Bangladesh, Brazil, Georgia, Germany, Hong Kong, Hungary, India, Netherlands, New Zealand, Nigeria, Poland, Portugal, Singapore, Spain, Sweden, United Arab Emirates , Great Britain and the United States. The process of shortlisting was more quantitative than qualitative to ensure an objective decision by the panel.

The 7th edition of IFTA is supported by prominent entities committed to accelerating the Indian Fintech ecosystem, including Mumbai FinTech Hub, Perfios, Happay, CashRich, Think360.AI, EnKash, Biz2X, Ring, Dhan, JuicyScore, TransUnion CIBIL, Xoxoday and ComplyVantage.

India FinTech Forum is proud to present the following high-potential fintech startups for 2022:
1. Arthan Finance ARTH (India): Arthan Finance is a new age LendingTech that seeks to transform small businesses through AI and Deep Learning based customized “Fit to Purpose” financial products.
2. BankSathi (India): BankSathi is a new digital advisory platform that enables financial advisors to develop their digital presence and start selling financial goods online.
3. Bimaplan (India): Bimaplan’s built-in insurance platform enables partners to seamlessly offer multiple insurance policies at the click of a button to their customers and deliver an enriched customer experience.
4. Biz2X India (India): Biz2X helps banks run their lending business at scale with improved loan management, servicing, risk analysis and a configurable customer journey.
5. BondEvalue (Singapore): BondEvalue operates BBX, the world’s first fractional bond exchange. Regulated as a Recognized Market Operator by the Monetary Authority of Singapore, BBX is transforming the bond market globally by enabling investors to electronically trade fractional bonds via partner banks and brokers.
6. CASHe (India): CASHe is a credit-enabled financial technology platform that offers a wide range of consumer lending products and services including personal loans, BNPL, line of credit, payments and transfer facilities to salaried millennials using its proprietary credit scoring algorithm.
7. Cashless Payments (India): Cashless payments enable businesses in India with payment collection, supplier payments, salary payments, instant loan disbursements, e-commerce refunds, insurance claim processing, expense reimbursement, loyalty and reward payments.
8. CredAble (India): CredAble is India’s largest working capital technology platform, catering to the working capital requirements of India Inc. which includes large, medium, emerging companies, MSMEs and financial institutions.
9. Decentro (India): Decentro is a full-stack API banking platform where one can select desired modules, integrate in the sandbox and launch the product within a couple of weeks.
10. Financepeer (India): Financepeer specializes in education fee financing that enables educational institutions to manage their money efficiently by paying the full annual fees to students upfront while allowing parents to repay in easy EMIs.
11. Fintso (India): Fintso is a full-stack wealth technology platform focused on providing access to retail investors, particularly NeXT Billion, by providing Independent Financial Product Providers (IFPPs) access to financial products, digital execution and robo-advisory Support.
12. Finverv (India): Finverv is a SaaS-enabled platform that helps businesses embed credit into their ecosystem through a simple plug-and-play design, in turn diversifying the credit portfolio of lending institutions.
13. GroMo (India): GroMo offers a single app to its partners so that they can recommend the right financial products to their customers. GroMo empowers thousands of micro-entrepreneurs, helping them earn good income by referring financial products in their network.
14. InsuranceDekho (India): InsuranceDekho is an online platform that allows customers to compare insurance quotes from top-rated insurance companies and buy the policy that best suits their needs.
15. KYC Hub (India): KYC Hub offers an integrated platform to automate anti-money laundering compliance and customer due diligence with AI and data insights. Their AML transaction solution offers PEP and sanctions screening, blacklist screening and customer profiling capabilities.
16. Multipl (India): Multipl offers a unique “Save Now, Pay Later” app where users can save for their upcoming expenses. They get returns from the market and from leading brands to achieve goals without debt and at the lowest possible price.
17. New Street Technologies (India): New Street Technologies’ flagship product MiFiX (Multi-interface Financial eXchange) for the BFSI sector is a pioneering blockchain-based ecosystem that connects banks, NBFCs and other FIs seamlessly with their customers, business correspondents and other stakeholders to manage a range of services including origination, KYC, Credit Bureau Referencing, underwriting, documentation, account opening, disbursements, collection, reconciliation, reporting, invoicing and settlement.
18. NFTBOOKS (Australia): NFTBOOKS is a platform for publishing works of books, magazines, paintings, etc. on the blockchain protocol. Using NFT (Non-Fungible Token) copyright identification technology, it aims to eliminate piracy as much as possible and make products available to readers at very affordable prices.
19. Pismo Labs (Singapore): Pismo offers an all-in-one processing platform for banking and payments. Their cloud-based platform enables teams to build quickly and companies to launch quickly, scaling as they grow to reach a wider audience while maintaining high security and accessibility standards for their digital banking and payment solutions.
20. Progcap (India): Progcap is revolutionizing the way financial access is delivered to underserved segments of the Indian retail economy. It uses technology and its unique delivery model to guarantee credit and provide underbanked semi-urban and rural retailers access to flexible working capital without collateral.
21. Revfin (India): Revfin is a digital lending platform to make loans practical and accessible to financially excluded people. The lending platform combines traditional underwriting methods with innovative techniques such as biometrics, psychometrics and gamification.
22. Rupifi (India): Rupifi powers B2B transactions for SMEs. It is India’s first Embedded Finance company operating in the B2B Payments space through its B2B BNPL product.
23. Tazapay (Singapore): Tazapay is a payment platform to enable trust in cross-border commerce. It will provide access to various services to conduct cross-border trade in a secure manner – such as payment protection via escrow, formalization of trade agreements with digitally signed agreements and counterparty risk assessment.

IFTA is proud to announce the finalists for the IFTA Fintech Scaleup of the Year 2022:
1. Chainalysis (US): Chainalysis provides cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators and businesses as they work together to combat illegal cryptocurrency activity. Backed by Benchmark and other leading names in venture capital, Chainalysis builds trust in blockchains.
2. Chargeback Gurus (US): Chargeback Gurus provides end-to-end consumer dispute resolution to leading brands around the world. The team of experts delivers comprehensive chargeback solutions that prevent and recover a high percentage of chargebacks while reducing the merchant’s exposure to fraud.
3. HyperVerge (India): HyperVerge provides identity verification and fraud detection solutions for companies that are in industries like BFSI, crypto, telecom, e-commerce etc. and has verified more than 500 million identities till date. Its AI models lead the market in terms of accuracy and recall values, precisely optimized for deployment in low-bandwidth environments.
4. Profinch (India): Profinch provides technology solutions that enable financial institutions to be future-proof. The solutions include consulting services and off-the-shelf products for 360-degree digitization and data transformation.
5. SysArc Infomatix (India): SysArc Infomatix is ​​a leading provider of FinTech software solutions offering loan automation, fund management and other financial solutions to the lending sector.
6. Valocity Global (New Zealand): Valocity helps lenders globally to validate the value of a property before they can lend money on it, through the best cloud-based technology and data innovation. It connects the real estate ecosystem using flexible and customizable technology to transform the entire mortgage valuation process.