The initial stage of development of digital marketplaces focused on generating leads for loans and insurance business
2010 – 2014:
Like every other ecosystem in the world, Indian Payment ecosystem grew immensely across wallets, pre-paid cards, point of sale platforms, payment gateway platforms
2015 – 2018:
Introduction of Indiastack (Aadhaar / eKYC / UPI / eSign etc) simplified as well as disrupted Payment, Lending, Insurance and Wealth business. While wallets collapsed due to UPI, Lending Fintechs/Insuretech prospered. Wealth business went through challenges due to Direct plans of Mutual Funds.
2019 till date:
Indiastack continues to positively impact Fintechs with newer services. NeoBanks have emerged as a segment of choice for investors. Neo-Entrants are introducing “Fintech as a service line” in their current business models by either developing it organically or buying out Fintechs. Lending startups are going through the evolution phase. Complex areas like Trade Finance and B2B startups are getting support in the new wave.