Known as ‘Tech City’ of India, Chennai is successfully adopting the trend of financial technology.
Fintech landscape is growing in India while the country is adopting digitized methods to carry out their daily financial transactions. Chennai is continuing the momentum by adding to the list of emerging Fintech hubs followed by Delhi, Mumbai, and Bangalore. Known as ‘Tech City’ of India, Chennai is successfully adopting the trend of financial technology and helping consumers solve their monetary needs. Here are the Top 5 Fintech startups from Chennai who are booming all across India:
FlexiLoans.com: FlexiLoans.com an online fintech lender, registered as an NBFC from Chennai, targets small and medium entrepreneurs who often face difficulty in sourcing loans due to low credit scores, completed three years of operations. This Fintech platform lends EMI based small-ticket loans to small vendors and businesses for their working capital low-interest rate. It has also featured among the top 100 global Fintech innovators’ list by KPMG and H2 Ventures. They also have a major presence in cities and towns of Maharastra, Gujarat, Rajasthan and other states.
BankBazaar: BankBazaar is a one-stop-shop for all banking requirements. This Chennai based startup enables users to make the best decision through their search and compare financial products at free of cost. Basis the result, they can further proceed to apply for different types of loans; debit and credit cards; insurance and investments. Founded in 2008, they have overseas operations in Malaysia and Singapore.
CreditMantri: Launched in 2012, CreditMantri is a platform designed to track the credit history of consumers. They help those who have complicated or low credit records and who are new to credit. This reduces applicants’ chances of loan rejection by carefully determining eligibility and matching them with the right lender/product. This Chennai based startup helps in the entire process of securing a loan from credit profile to matching them with lenders through applying their proprietary technology.
Kaleidofin: Founded in 2018 by Puneet Gupta and Sucharita Mukherjee, Kaleidofin platform provides customized financial products to customers as per their goals. They create a profile of customers based on their savings, lifestyle, savings, investment, credit and insurance to find one solution which will create a path to reach their target. This Chennai based digital bank targets the underbanked population to undertake machine learning algorithms to analyze the data and enabling automated transactions at scale.
FundsIndia: FundsIndia, launched in 2008, is an online investment platform for mutual funds and other financial products. Headquartered in Chennai, they started primarily as a mutual fund platform, now allows Indian investors to invest in various financial products such as gold, corporate deposits, bonds, loans, equities, etc. It also launched ‘FundsIndia Smart SIP’ in association with Franklin Templeton AMC. This enables customers to alter their investment levels as per market conditions.