Understanding India’s Fintech for Better Hiring in 2024

Aditya Datta

June 27, 2024

The fintech startup industry in India began to shape in the early 2000s.

It was in 2010, when a platform that initially focused on providing mobile recharges, expanded its services to include digital payments and mobile wallets.

Now, it's impossible to discuss the fintech revolution in India without mentioning Paytm, the brainchild of Vijay Shekhar Sharma.

Today, India’s fintech landscape is a booming ecosystem of over 11,600 companies, collectively raising a staggering $35.2 billion in funding.

Employing over 1.8 Lac direct workforce and indirect workforce, which includes Sales, Inside Sales, Customer Service, is estimated 1.5 times the direct workforce.

Maharashtra emerges as the frontrunner in India's fintech landscape

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Due to Mumbai's financial infrastructure and supportive ecosystem, Maharashtra stands out as the leader in the fintech industry, hosting 2,734 fintech companies. Karnataka follows with 1,830 companies, driven by Bangalore's tech innovation environment. The National Capital Region (NCR) hosts 1,149 companies, benefiting from strategic location and policy proximity.

Uttar Pradesh, with 784 companies, and Haryana, with 717, are emerging hubs, bolstered by increasing investments. Chennai (548 companies) and Hyderabad (541 companies) leverage their tech sectors, while Gurgaon (505 companies) benefits from modern infrastructure and strategic positioning.

But Karnataka still dominates as the largest source of Fintech engineering talent

We have analysed 100+ top fintech companies in India across 15 distinct categories to identify the largest producers of engineering talent for the sector. While Karnataka stands out as the leader in fintech tech talent, other states like Delhi, Uttar Pradesh, Maharashtra, and Haryana also contribute significantly to the industry's dynamic talent landscape.

These states collectively drive India's fintech sector forward, each bringing unique strengths and contributions to the industry

Top Fintech Companies to Hire Exceptional Talent

Payment Gateways & Payment Aggregators

Paytm

Paytm is a well-known digital wallet and payments platform in India. They offer a payment gateway solution for businesses that allows them to accept payments from Paytm users as well as other payment methods. Paytm is a good option for businesses that want to target the large user base of the Paytm app.

Products:

Payment Gateway, Payment Aggregator, Paytm Wallet, Mobile Recharge & Bill Payments, Money Transfer, Paytm Mall, Tickets, QR Payments

Website: https://www.paytm.com/

Headcount: 10K+

Total Engineering Talent: 3,140

Top Skills in Paytm:

Java
SQL
JavaScript
MySQL
C++
Data Structures
Python
C Programming Language

Razorpay

Razorpay is a popular payment solution provider that allows businesses to accept, process, and disburse payments. They offer a wide range of features, including subscriptions, invoicing, and payouts, and integrate with all major payment methods in India. Razorpay is known for its ease of use and competitive pricing.

Products:

Payment Gateway, Payment Links, Payment Pages, Subscriptions, Smart Collect (NEFT/RTGS/IMPS), Invoices, QR Payments, International Payments, POS System

Website: https://razorpay.com/

Headcount: 3K+

Total Engineering Talent: 884

Top Skills in Razorpay:

Java
Java Script
Python
MySQL
SQL
C++

BillDesk

BillDesk is a leader in driving digital payments and digital commerce for over a decade. BillDesk technology and integrated solutions are making digital payments easy and accessible to merchants, financial institutions and governments. The integrated technology platform and unified APIs make payments seamless. Payments more reliable and faster. Payments with higher conversions.

Products:

Bill Payments (utilities, mobile recharge, etc.), Online payments for e-commerce,

Recurring payments (subscriptions), International payments (multi-currency),

Billdesk EMI ( equated monthly installments), Bharat BillPay (BBPS) integration for bill payments, e-mandates for recurring payments, Smart Payout (instant settlements for merchants)

Website: https://www.billdesk.com/web/

Headcount: 700+

Total Engineering Talent: 191

Top Skills in Billdesk:

Java

SQL

JavaScript

Spring Boot

HTML

Core Java

Cashfree Payment Gateway

Cashfree Payment Gateway is another popular option that offers a wide range of payment options, including credit and debit cards, net banking, UPI, wallets, and EMI. They also offer features like fraud protection and chargeback management. Cashfree is a good option for businesses that need a comprehensive payment solution.

Products:

Payment Gateway, Payment Links, Payment Forms, SoftPOS, Easy Split, Auto Collect, Buy Now Pay Later (BNPL), Payouts

Website: https://www.cashfree.com/

Headcount: 800+

Total Engineering Talent: 276

Top Skills in Cashfree:

Java

C++

Python

JavaScript

C (Programming Language)

Data Structures

PayU

PayU is a global online payment solution provider that offers a payment gateway in India. They offer a wide range of features, including subscriptions, invoicing, and payouts, and integrate with all major payment methods in India. PayU is a good option for businesses that need a reliable and secure payment gateway.

Website: https://corporate.payu.com/

Headcount: 3.1K+

Total Engineering Talent: 1,034

Top Skills in PayU:

Java

SQL

Python

JavaScript

MySQL

C++

Lending Tech of India

Lendingkart

Lendingkart specializes in providing working capital loans to small and medium-sized enterprises (SMEs) and micro-enterprises. They utilize advanced technology and data-driven algorithms to assess the creditworthiness of borrowers, offering a fully digital application process for quick and efficient loan approvals.

Products:

Working Capital Loans, Unsecured Business Loans, Unsecured Loans, MSME Credit Card (upcoming), Gold Loan, Personal Loan

Website:

https://www.lendingkart.com

Headcount:

1500

Total Engineering Talent:

277

Top Skills in Lendingkart:

Java

SQL

Python

MySQL

JavaScript

Moneyview

Moneyview leverages AI-powered models to provide accessible credit solutions to underserved populations in India. The platform offers personal loans with a fully digital process, ensuring quick and easy loan disbursement.

Products:

Personal Loans, Business Loans, Credit Tracker, Smart Pay, EMI Calculator, Loan Against Property, Home Loan, Pro-saver Account.

Website:

https://www.moneyview.in

Headcount:

770+

Total Engineering Talent:

232

Top Skills in Moneyview:

Java

SQL

Python

C++

Datastructure

MoneyTap

Offers an app-based consumer credit line with loans up to ₹5 lakh. Provides instant approvals and flexible repayment options.

Products:

Personal Line of Credit, Credit Card, Instant Personal Loan

Website:

https://www.moneytap.com

Headcount:

120+

Total Engineering Talent:

Top Skills in MoneyTap:

Python

Java

Algorithms

JavaScript

Data Structures

KreditBee

KreditBee provides quick and convenient personal loans, primarily targeting young professionals and college students. The platform offers a fully digital loan application process, using alternative data sources to evaluate creditworthiness and ensure swift loan disbursals.

Products:

Personal Loan, Online Purchase Loan, Credit Line, Salary Advance, Flexi Personal Loan, E-voucher

Website:

https://www.kreditbee.in

Headcount:

1,300

Total Engineering Talent:

1,034

Top Skills in KreditBee:

Python (Programming Language)

SQL

Amazon Web Services (AWS)

MySQL

JavaScript

FlexiLoans

FlexiLoans is an online lending platform focused on providing quick, flexible loans to MSMEs. It uses technology to reach out to businesses that lack credit history, offering collateral-free loans within a short timeframe.

Products:

Term Loans, Line of Credit, Vendor Financing, Supply Chain Financing, Merchant Cash Advance, Invoice Financing

Website:

https://www.flexiloans.com

Headcount:

450+

Total Engineering Talent:

Top Skills in FlexiLoans:

SQL

JavaScript

Python (Programming Language)

Node.js

Amazon Web Services (AWS)

ZestMoney

ZestMoney provides Buy Now Pay Later (BNPL) solutions, offering consumers flexible EMI options without needing a credit card. It focuses on increasing financial inclusion by providing credit access to those with no credit history.

Products:

Buy Now, Pay Later (BNPL), EMI Financing, Personal Loan, ZestMoney EMI Card

Website:

https://www.zestmoney.in

Headcount:

340

Total Engineering Talent:

Top Skills in PayU:

Java

SQL

MySQL

Python (Programming Language)

Data Structures

Neo-Banking & Personal Finance Management of India

Freo

Freo is a credit-led neobank offering smart and modern banking solutions. It provides services like digital savings accounts, flexible credit lines, EMI cards, and buy-now-pay-later facilities. Freo is known for its security and partnerships with brands like VISA and Equitas.

Products:

Term Loans, Line of Credit, Vendor Financing, Supply Chain Financing, Merchant Cash Advance, Invoice Financing

Website:

https://www.freo.money

Headcount:

170+

Total Engineering Talent:

Top Skills in Freo:

Java

Python (Programming Language)

JavaScript

SQL

C++

Fi Money

Backed by Federal Bank, Fi Money offers multiple savings accounts with zero balance options and competitive interest rates. It provides Visa debit cards and ensures customer account balance security.

Products:

Savings Accounts, Visa Debit Card, Fixed Deposits, UPI Payments, Spend Analyzer, Financial Fitness Reports

Website:

https://www.fi.money

Headcount:

1200+

Total Engineering Talent:

202

Top Skills in FlexiLoans:

Python (Programming Language)

Java

C++

Data Structures

C (Programming Language)

Jupiter

Jupiter partners with Federal Bank to offer zero balance savings accounts, detailed account statements, and a rewards system for debit card and UPI transactions. It also features an automated savings mechanism.

Products:

Savings Account, Debit Card, Zero Balance Account, UPI Payments, Pots (automated savings), Rewards on Transactions

Website:

https://www.jupiter.money

Headcount:

1100

Total Engineering Talent:

250

Top Skills in FlexiLoans:

Python (Programming Language)

Java

SQL

JavaScript

C++

InstantPay

InstantPay provides banking services to individuals and companies of all sizes, featuring instant account opening, cash deposits, and 24/7 customer support. It partners with major banks like Axis Bank and ICICI Bank.

Products:

Banking Accounts, Cash Deposits, Active Account Tracking, Payments Gateway, Business Banking Solutions

Website:

https://www.instantpay.in

Headcount:

230+

Total Engineering Talent:

Top Skills in InstantPay:

JavaScript

Cascading Style Sheets (CSS)

HTML5

HTML

Node.js

Niyo

Niyo offers a range of banking products and services, focusing on making banking smarter, safer, and simpler. It caters to over 2.5 million customers with various financial solutions.

Products:

Savings Account, Niyo Global Card, NiyoX Account, Forex Card, Wealth Management Services, Expense Management Tools

Website:

https://www.goniyo.com

Headcount:

530+

Total Engineering Talent:

190

Top Skills in Niyo:

Java

JavaScript

MongoDB

Python (Programming Language)

C (Programming Language)

ClearTax

Clear offers a range of financial solutions including tax filing, GST compliance, and financial planning. It simplifies tax filing for individuals and businesses and provides tools for managing financial compliance.

Products:

Tax Filing, GST Software, Business Incorporation Services, Investment Solutions, Compliance Management, Invoice Software, MaxITC, ITR

Website:

https://www.cleartax.in

Headcount:

1300

Total Engineering Talent:

264

Top Skills in ClearTax:

Java

Python (Programming Language)

JavaScript

SQL

C++

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Insurance Tech of India

PolicyBazaar

PolicyBazaar has transformed the insurance landscape by enabling consumers to compare and purchase a wide range of insurance products online. It offers comprehensive coverage options and user-friendly tools to simplify insurance shopping.

Products:

Life Insurance, Health Insurance, Motor Insurance, Travel Insurance, Corporate Insurance, Home Insurance, Critical Illness Insurance, Child Plans, Retirement Plans, Term Insurance

Website:

https://www.policybazaar.com

Headcount:

8,800

Total Engineering Talent:

909

Top Skills in PolicyBazaar:

SQL

JavaScript

Microsoft Excel

HTML

Cascading Style Sheets (CSS)

Digit Insurance

Digit Insurance focuses on simplifying insurance processes through technology. It offers a wide range of insurance products including motor, health, travel, and property insurance, all available through a seamless digital platform.

Products:

Health Insurance, Motor Insurance, Travel Insurance, Home Insurance, Shop Insurance, Marine Insurance

Website:

https://www.godigit.com

Headcount:

556

Total Engineering Talent:

264

Top Skills in Digit Insurance:

Java

SQL

Cascading Style Sheets (CSS)

Python (Programming Language)

JavaScript

Acko General Insurance

Acko is known for its digital-first approach, providing customized insurance solutions with quick claim settlements and no paperwork. It offers a variety of products such as motor, health, and gadget insurance.

Products:

Car Insurance, Bike Insurance, Health Insurance, Mobile Insurance, Employee Health Insurance, Group Health Insurance, Travel Insurance

Website:

https://www.acko.com

Headcount:

1,370+

Total Engineering Talent:

340

Top Skills in ClearTax:

Java

Python (Programming Language)

C++

JavaScript

SQL

Turtlemint

Turtlemint simplifies the insurance buying process by offering personalised policy recommendations using data analytics. It provides a range of products including life, health, and motor insurance, and extends its services to underserved regions.

Products:

Life Insurance, Health Insurance, Car Insurance, Bike Insurance, Travel Insurance, Investment Plans, Term Insurance, Retirement Plans

Website:

https://www.turtlemint.com

Headcount:

2,186

Total Engineering Talent:

341

Top Skills in Turtlemint:

Java

JavaScript

C++

Cascading Style Sheets (CSS)

React.js

InsuranceDekho

InsuranceDekho facilitates the quick issuance and renewal of insurance policies online. It offers comprehensive coverage options across health, term, and motor insurance segments.

Products:

Car Insurance, Bike Insurance, Health Insurance, Term Insurance, Investment Plans, Travel Insurance, Home Insurance, Commercial Vehicle Insurance

Website:

https://www.insurancedekho.com

Headcount:

1,698

Total Engineering Talent:

183

Top Skills in InsuranceDekho:

JavaScript

Node.js

React.js

HTML

Cascading Style Sheets (CSS)

Investment Platforms of India

Zerodha

Zerodha is one of India’s largest and most popular investment platforms, offering trading services in stocks, mutual funds, commodities, and more. Their flagship platform, Kite, provides a user-friendly interface with real-time data and charts, making it easier for users to trade and invest.

Products:

Commodity Derivatives, Currency Derivatives, Stocks & IPOs, Direct Mutual Funds, Bonds and Government Securities, Call N Trade, Margin Trading Funding, GTT (Good Till Triggered) Orders

Website:

https://www.zerodha.com

Headcount:

2,446

Total Engineering Talent:

153

Top Skills in Zerodha:

Python (Programming Language)

JavaScript

Java

Microsoft Excel

SQL

Upstox

Upstox is a leading investment platform that allows users to trade in stocks, mutual funds, IPOs, and more. It is known for its powerful tools, low brokerage fees, and user-friendly mobile app, making it a favorite among new and experienced investors.

Products:

Equity Trading, Equity Derivatives, Commodity Trading, Currency Trading, Mutual Funds, IPO Investment, Smart Transfer

Website:

https://www.upstox.com

Headcount:

1,817

Total Engineering Talent:

293

Top Skills in Upstox:

Java

JavaScript

SQL

C (Programming Language)

HTML

Groww

Groww offers a simple and intuitive platform for investing in mutual funds, stocks, and more. It aims to make investing easy and accessible, especially for beginners. Groww’s platform provides detailed insights and research to help users make informed investment decisions.

Products:

Stocks, Direct Mutual Funds, Gold, US Stocks, Fixed Deposits, Digital Gold, IPO Investment, Demat Account

Website:

https://www.groww.in

Headcount:

1,913

Total Engineering Talent:

476

Top Skills in Groww:

Java

C++

Python (Programming Language)

JavaScript

C (Programming Language)

INDmoney

INDmoney is a unique app that allows users to track all their investments in one place, including stocks, mutual funds, PPF, EPF, and even US stocks without outward remittance charges. It provides a consolidated view of investments and liabilities to calculate net worth.

Products:

Super Saver Account, US Stocks, Mutual Funds, Fixed Deposits, Loans, Credit Card Management, Goal-based Investments

Website:

https://www.indmoney.com

Headcount:

441

Total Engineering Talent:

133

Top Skills in INDmoney:

Python (Programming Language)

C++

Java

Data Structures

JavaScript

ETMoney

ETMoney is a financial services app that offers investment options in mutual funds, fixed deposits, NPS, and more. It also provides tools for tracking expenses, loans, and insurance policies, making it a holistic financial management platform.

Products:

Direct Mutual Funds, NPS (National Pension System), Fixed Deposits, SmartDeposit, Insurance (Health, Term, Car, Bike), Loans (Personal Loan, Education Loan, Home Loan)

Website:

https://www.etmoney.com

Headcount:

192

Total Engineering Talent:

Top Skills in InsuranceDekho:

Java

C++

C (Programming Language)

JavaScript

Data Structures

Cryptocurrency Exchanges of India

WazirX

WazirX is one of the most popular and widely used cryptocurrency exchanges in India. It supports a variety of cryptocurrencies and offers a secure platform for trading. The exchange is known for its user-friendly interface and comprehensive security measures, including regular security audits.

Products:

Spot Trading, Futures Trading, Staking, Smart Token Funds (STFs), WazirX Token (WRX), P2P Trading, Auto-Matching P2P

Website:

https://wazirx.com

Headcount:

192

Total Engineering Talent:

Top Skills in InsuranceDekho:

CoinSwitch Kuber

CoinSwitch Kuber is an app-based cryptocurrency exchange that aggregates liquidity from various exchanges to offer the best rates for its users. It is known for its accessibility, security, and a user-friendly interface. The platform supports over 170 cryptocurrencies.

Products:

Instant Cryptocurrency Exchange, SIP in Crypto, Fixed Deposits in Crypto

Website:

https://coinswitch.co

Headcount:

461

Total Engineering Talent:

171

Top Skills in CoinSwitch Kuber:

Python (Programming Language)

C++

JavaScript

Java

SQL

CoinDCX

CoinDCX is a prominent cryptocurrency exchange that offers a wide range of trading options, including futures, margin trading, and lending. It supports over 200 cryptocurrencies and provides high liquidity services for high-volume traders. The platform also features a robust educational section, DCX Learn.

Products:

Spot Trading, Margin Trading, Futures Trading, Lending (Earn), Staking (DCX Earn), CoinDCX Go App, Insta (Instant Buy/Sell)

Website:

https://coindcx.com

Headcount:

697

Total Engineering Talent:

220

Top Skills in CoinDCX:

Java

Python (Programming Language)

SQL

JavaScript

MySQL

ZebPay

ZebPay is one of the oldest cryptocurrency exchanges in India, offering a secure platform for trading more than 100 cryptocurrencies. It is known for its strong security measures, including cold storage for most assets and compliance with regulatory standards.

Products:

Spot Trading, Lending, ZebPay Wallet, ZebPay App, ZebPay OTC Desk

Website:

https://www.zebpay.com

Headcount:

174

Total Engineering Talent:

Top Skills in ZebPay:

C++

JavaScript

HTML

SQL

React.js

Mudrex

Mudrex is a platform that offers automated trading strategies for cryptocurrencies. It allows users to invest in curated portfolios of trading bots, making it easier for investors to leverage algorithmic trading without having to develop their own strategies.

Products:

Algorithmic Trading (Mudrex Bots), Mudrex Invest (Managed Portfolios), Mudrex Protect (Crypto Index Funds), Yield Funds

Website:

https://mudrex.com

Headcount:

Total Engineering Talent:

Top Skills in Mudrex:

Python (Programming Language)

C++

JavaScript

Java

Cascading Style Sheets (CSS)

Peer-to-Peer Lending of India

Faircent

Faircent is India's first P2P lending platform to receive an NBFC-P2P license from the RBI. It offers a diverse loan portfolio, connecting borrowers directly with lenders. Faircent's secondary market allows lenders to exit investments before the loan tenure ends, enhancing liquidity and flexibility.

Products:

Personal Loan, Business Loan, Prime Non-Metro P2P Loan, Domestic Transfer Pool, Faircent Double

Website:

https://www.faircent.com

Headcount:

200

Total Engineering Talent:

Top Skills in Faircent:

JavaScript

Node.js

Cascading Style Sheets (CSS)

MySQL

MongoDB

LenDenClub

LenDenClub is known for quick loan disbursals and offers a variety of loan products including business, education, and personal loans. It provides an interest rate of up to 15% per annum and allows investors to start with as low as ₹10,000.