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IFTA 2021: Here are 28 high potential fintech startups

The Forum received over 800 applications from Australia, Germany, Hungary, India, Israel, Peru, Netherlands, Singapore, Sweden, UAE, UK, the US and Vietnam for the IFTA Fintech Startup of the Year award. Winners will be announced on November 25

November 23, 2021 / 12:48 PM IST
Representative Image

Representative Image

Non-profit advocacy group India FinTech Forum has announced that 28 fintech startups will showcase their product demos to a high profile jury from November 23-25, 2021. The participants will compete for the ‘FinTech Startup of the Year’ award.

The event is being held online at starting on November 23. Supporting the initiative are Deloitte, Easebuzz, Gupshup, Huobi Global, KUDOS, PayU, Perfios Software Solutions TransUnion CIBIL.

Among the demo products include innovations in artificial intelligence (AI), banking infrastructure, cryptocurrency, digital lending, digital identity, payments, InsurTech, RegTech and robo-advisory.

Past winners have raised a cumulative $3 billion in funding till date and include names like Simpl, Khatabook, ZestMoney, Capital Float and Velocity Global.

Here is the list of finalists for Fintech Startup of the Year 2021:

  1. 3Cortex (India) - 3Cortex specializes in delivering niche solutions to treasuries of Banks, NBFCs and Corporates for data reconciliation, handling exceptions and getting business insights for decision making.

  2. AccuraScan (UAE) - AccuraScan is a Regtech Solution Provider helping Banks, FIs and other industries with contactless 10 seconds Digital, Video KYC with Realtime User Verification to mitigate online fraud.

  3. BukuWarung (Indonesia) - BukuWarung is a digital ledger for bookkeeping and payment. Without an Indian UPI-type solution in Indonesia, their digital payment solution has emerged as the market leader.

  4. Card91 (India) - Card91 is a plug and play, full stack Issuer-Processor and payment infrastructure platform.

  5. CredAble (India) - CredAble funds suppliers and dealers/distributors of large corporates at scale using ERP system data.

  6. Credlix (India) - Credlix is a digital supply chain financing platform from Moglix that provides quick collateral-free working capital solutions for MSMEs, buyers, channel partners and exports.

  7. Decentro (India) - Decentro is a full-stack API banking platform where users can select and integrate desired modules in a sandbox, and launch their product within weeks.

  8. Epifi Technologies (India) - Fi builds on existing infrastructure to bring a banking 2.0 experience to a generation of digital natives.

  9. EpikinDiFi (India) - Built by bankers for bankers, EPIK’s Vanguard streamlines all customer and employee interactions within a single cloud-based digital lending platform.

  10. herecredit (India) - herecredit is a consumer lending product. Users can withdraw money to their bank account and repay it back in monthly EMIs.

  11. Inferyx (USA) - Inferyx is a global analytics company that helps enterprises to accelerate the infusion of AI for making intelligent business decisions.

  12. Karza Technologies (India) - Karza offers micro services for digital onboarding with computer vision, NLP Algorithms, and a proprietary unified fraud risk score.

  13. KreditBee (India) - KreditBee is an instant personal loan platform for self-employed and salaried professionals.

  14. Lend Partners (India) - Lend Partners helps MSME with their monetary requirements by making use of “Invoice Discounting”.

  15. Money View (India) - Money View is an app-based platform that’s democratising access to fair and responsible credit to Indian users with a smartphone and a bank account.

  16. Nerve Solutions (India) - Nerve Solutions specializes in real time risk management and automated trading products for financial markets.

  17. Niyo Solutions (India) - Niyo is focused on creating banking that is simpler, smarter and safer for their customers by simplifying finance with technology.

  18. PartnerHUB (Hungary)- Charlie-India Invoice Hub is a white label software that creates value for SMEs by providing invoice related services.

  19. Quicken (USA) - Simplifi by Quicken brings comprehensive personal finance capabilities to the 21st-century generation of mobile/cloud-oriented users in an elegant, modern app.

  20. reach52 (Singapore)- reach52 is a social enterprise delivering health and insurance services in communities others don’t reach.

  21. Refyne (India) - Refyne has a Earned Wage Access platform that lets a company's employees retrieve a portion of their earned but unpaid salary anytime before payday, without disrupting payroll.

  22. Smartcoin Financials (India)- SmartCoin offers micro-loans to the vast underserved middle/lower-income segments, using proprietary algorithms to assess the risk profile of prospective borrowers in real time.

  23. Stockal (USA) - Stockal helps Indian retail investors make and manage stocks and ETF investments in global capital markets on a completely digital platform.

  24. (India) - Algo360 enables digital lending using alternative data, AI and ML by helping financial institutions (FIs) to extend credit offerings to the underserved population.

  25. Turtlemint (India) - Turtlemint’s technology empowers the insurance advisor to digitally onboard customers and sell insurance products in an efficient manner via the mobile app.

  26. WealthDesk (India) - WealthDesk enables portfolio-based investing on top of equities and ETFs, consolidating advisory, broking, asset and wealth management ecosystem.

  27. Xpedize (India) - Xpedize is a fintech company that provides digital supply chain financing solutions to large corporates through the Software-with-a-Service (SwaS) model.

  28. ZebPay (India) - ZebPay is a prominent cryptocurrency exchange for buying and selling bitcoin etc. Its app enables anyone to invest in crypto, earn returns, and avail loans.

Here is the list of finalists for Fintech Scaleup of the Year 2021:

  1. Celusion Technologies (India) - Celusion Technologies develops Enterprise Applications focusing on Unified Account Opening and Digital Lending Platform.

  2. Craft Silicon (India) - Craft Silicon’s product suite has been designed to cover the entire Microlending value chain including Core Loan Management, Group and Individual Loan Origination, Collection, Disbursement, etc.

  3. Decimal Technologies (India)- Decimal Technologies is focused on digitalising BFSI, and offers solutions to reduce customer acquisition costs by moving the digital touch point closer to the customer.

  4. IDfy (India) - IDfy provides verification solutions that identifies entities to prevent fraud and reduce risk. They offer solutions to increase trust with minimal friction.

  5. Intralinks (USA) - Intralinks facilitates strategic initiatives such as mergers and acquisitions, capital raising and investor reporting.

  6. Sub-K (India) - Sub-K is a digital finance company that offers affordable, accessible and scalable financial and payment services to the BoP segment.

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, according to the organisation.

Members include more than 2,000 fintech companies and over 25,000 people – all dedicated to enhancing the ecosystem and ensuring India leads the global fintech innovation wave.

Moneycontrol News
first published: Nov 22, 2021 01:08 pm