Meet 23 Promising Fintech Startups Shortlisted for Prestigious IFTA 2022

India FinTech Forum Unveils 23 high potential fintech startups for IFTA 2022

  • The prestigious IFTA is one of India’s longest running fintech events
  • 1200+ applications received from across the globe from Lending, Payments, WealthTech, Blockchain, Regtech, InsurTech and many more domains
  • Applications received from around 20 countries
  • Winner to be announced at IFTA on 30th November, 2022 in Mumbai
India FinTech Forum, a not for profit fintech advocacy group representing Indian fintech companies, has announced 23 fintech startups who will give demos of their innovative products and services to a high profile jury this month. The winning startup will be awarded the prestigious IFTA Fintech Startup of the Year award on 30th November 2022 during a full-day in-person conference at Mumbai. In another category, 6 companies incorporated before 2015 will compete for the Fintech Scaleup of the Year award.

Winners of past editions of IFTA have included well-known names like Capital Float, ZestMoney and Simpl. Past winners of IFTA have cumulatively raised over USD 4 billion in funding from VCs till date.

Nitya Sharma, Co-Founder & CEO at 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 into creating a new category of payments and a breakthrough 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, United Kingdom and United States of America. 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 that are 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 ๐Ÿ‡ฎ๐Ÿ‡ณ): Arthan Finance is a new age LendingTech that endeavours to transform Small Businesses through AI & Deep Learning based customized "Fit to Purpose" financial products.
  2. BankSathi (India ๐Ÿ‡ฎ๐Ÿ‡ณ): BankSathi is a new edge digital advisory platform that enables financial advisers to develop their digital presence and begin selling financial goods online.
  3. Bimaplan (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Bimaplan’s embedded insurance platform enables partners to seamlessly provide multiple insurance policies at the click of a button to their customers and deliver an enriched customer experience
  4. Biz2X India (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Biz2X is helping banks run their lending operations at scale with enhanced loan management, servicing, risk analytics and a configurable customer journey
  5. BondEvalue (Singapore๐Ÿ‡ธ๐Ÿ‡ฌ):
    BondEvalue operates BBX, the world’s first fractional bond exchange. Regulated as a Recognised Market Operator by the Monetary Authority of Singapore, BBX transforms the bond market globally by enabling investors to do electronic bond trading of fractional bonds via partner banks and brokers
  6. CASHe (India ๐Ÿ‡ฎ๐Ÿ‡ณ): CASHe is a credit-enabled financial technology platform that offers a wide range of consumer lending products and services including personal loans, BNPL, Credit Line, payments and transfer facilities to salaried millennials using its proprietary credit rating algorithm.
  7. Cashfree Payments (India๐Ÿ‡ฎ๐Ÿ‡ณ): Cashfree Payments enables businesses in India with payment collections, vendor payouts, wage payouts, instant loan disbursements, e-commerce refunds, insurance claims processing, expense reimbursements, loyalty, and rewards payments.
  8. CredAble (India ๐Ÿ‡ฎ๐Ÿ‡ณ): CredAble is India's largest working capital tech platform, catering to the working capital requirements of India Inc. that includes large, mid, emerging corporates, MSMEs, and financial institutions.
  9. Decentro (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Decentro is a full-stack API banking platform where one can select desired modules, integrate in the sandbox, and launch their product within a couple of weeks.
  10. Financepeer (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Financepeer specializes in education fee financing that enables educational institutes to manage their funds efficiently by paying student’s entire year's fees up front while the parents get the option to pay back in easy EMIs.
  11. Fintso (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Fintso is a full-stack wealthtech platform focused on giving access to retail investors, especially the NeXT Billion, by enabling Independent Financial Product Providers (IFPPs) with access to financial products, digital execution, and robo-advisory support.
  12. Finverv (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Finverv is a SaaS-enabled platform that helps companies embed credit in their ecosystem through a simple plug-and-play design, and in turn, diversifies the credit portfolio of lending institutions.
  13. GroMo (India ๐Ÿ‡ฎ๐Ÿ‡ณ): GroMo offers a single app to their partners so that they can recommend the right financial products to customers. GroMo is empowering lakhs of micro-entrepreneurs, helping them make a good income by referring financial products in their network.
  14. InsuranceDekho (India๐Ÿ‡ฎ๐Ÿ‡ณ): InsuranceDekho is an online platform that lets customers compare insurance quotes from top-rated insurance companies and purchase the insurance policy that best suits their needs.
  15. KYC Hub (India ๐Ÿ‡ฎ๐Ÿ‡ณ): 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 features.
  16. Multipl (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Multipl offers a unique “Save Now, Pay Later” app through which users can save up for their upcoming expenses. They get returns from the market and from leading brands to accomplish goals debt free and at the lowest cost.
  17. New Street Technologies (India ๐Ÿ‡ฎ๐Ÿ‡ณ): 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, collections, reconciliation, reporting, billing & settlement.
  18. NFTBOOKS (Australia ๐Ÿ‡ฆ๐Ÿ‡บ): NFTBOOKS is a platform to publish works on books, magazines, paintings etc. on blockchain protocol. Using NFT (Non-Fungtible Token) identification technology for copyright, it aims to eliminate piracy as much as possible and make products accessible to readers at very reasonable prices.
  19. Pismo Labs (Singapore ๐Ÿ‡ธ๐Ÿ‡ฌ): Pismo provides an all-in-one processing platform for banking and payments. Their cloud-based platform empowers teams to build fast and companies to launch rapidly, scaling as they grow to have a broader audience while keeping high security and availability standards for their digital banking and payments solutions.
  20. Progcap (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Progcap is revolutionising the way financial access is delivered to underserved segments of the Indian retail economy. It uses technology and its unique delivery model to underwrite credit and provide under-banked semi-urban and rural retailers access to flexible, collateral free working capital.
  21. Revfin (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Revfin is a digital lending platform to make loans convenient and accessible to financially excluded individuals. Its lending platform combines traditional underwriting methods with innovative techniques like biometrics, psychometrics and gamification.
  22. Rupifi (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Rupifi powers B2B transactions for SMEs. It is India’s first Embedded Finance company which operates in the B2B Payments space through its B2B BNPL product.
  23. Tazapay (Singapore ๐Ÿ‡ธ๐Ÿ‡ฌ): Tazapay is a payments platform for enabling trust in cross-border commerce. It will enable access to various services for doing cross-border trade safely - such as payment protections via escrow, formalising trade agreements with digitally signed agreements and counterparty risk assessment.
IFTA is proud to announce the finalists for IFTA Fintech Scaleup of the Year 2022:
  1. Chainalysis (USA ๐Ÿ‡บ๐Ÿ‡ธ): Chainalysis offers cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit cryptocurrency activity. Backed by Benchmark and other leading names in venture capital, Chainalysis builds trust in blockchains.
  2. Chargeback Gurus (USA ๐Ÿ‡บ๐Ÿ‡ธ): Chargeback Gurus provides end-to-end consumer transaction dispute management to leading brands around the world. Its 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 ๐Ÿ‡ฎ๐Ÿ‡ณ): 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 on accuracy and recall values, precisely optimised for deployments in low bandwidth environments.
  4. Profinch (India ๐Ÿ‡ฎ๐Ÿ‡ณ): Profinch provides technology solutions that enable financial institutions to be future-ready. Solutions include consulting services and off-the-shelf products for 360-degree digitization and data transformation.
  5. SysArc Infomatix (India ๐Ÿ‡ฎ๐Ÿ‡ณ): SysArc Infomatix is a leading FinTech software solutions provider that provides 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 property ecosystem using flexible and customisable technology to transform the entire mortgage valuation process.
About IFTA

The India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues. More than 2,750 fintech companies and over 30,000 individuals who are members of this forum, are dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack (Aadhar, UPI, etc.), which are not available anywhere else in the world. The India FinTech Forum organizes consultations, round tables, webinars and meet-ups in several locations and seeks to drive policies that accelerate the growth of fintech in India.

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