India’s fintech unicorns simplify payments, investments, and insurance, reaching millions with easy-to-use digital solutions.
Startups like Zerodha, PhonePe, and Razorpay have established themselves through trust, scale, and innovation.
Fintech in India drives financial inclusion, supporting individuals, businesses, and the broader economy.
India's fintech journey in 2025 is all about turning innovative ideas into everyday solutions. Paying bills, transferring money, investing savings, and purchasing insurance can now be accomplished in seconds using user-friendly digital platforms. Many fintech startups in India have simplified complex processes by focusing on users' actual needs.
Some of these companies have achieved unicorn status, reaching valuations of billions of dollars by addressing large-scale problems. The establishment of strong digital payment systems, increased internet access, and heightened financial awareness have contributed to the dominance of these brands.
These unicorns now play a central role in India’s economy, supporting individuals, small businesses, and large enterprises alike. This article highlights India’s leading fintech unicorns and explains which startups achieved unicorn status in 2025.
Let’s take a look at the top fintech startups that advanced to unicorn status in 2025.
Zerodha is India’s most valuable fintech unicorn in 2025, with a valuation of about $8.2 billion. The company, founded in 2010 in Bengaluru, changed how Indians invest in the stock market.
This company transformed stock trading by offering zero-commission equity investments. It removed high brokerage fees and made stock trading affordable for everyone. The Kite trading app serves more than 72 million registered users.
In 2025, Zerodha reported strong profits of over Rs. 4,200 crore. The platform earns money from futures trading, subscriptions, and mutual funds. Zerodha is fully bootstrapped and avoids external funding. This rare model builds trust and stability in the fintech startup ecosystem. It continues to lead India’s online brokerage space with millions of active users.
Razorpay was founded in 2014 in Bengaluru and quickly became a key part of India’s digital payment story. In 2025, the company holds a valuation of approximately $7.5 billion. It helps businesses accept online payments through UPI, cards, net banking, and wallets. More than 12 million merchants across India use Razorpay, from small startups to large brands, to collect payments smoothly and safely.
As these businesses scaled, Razorpay also expanded its role. In 2025, the platform processed transactions worth $210 billion. Along with payments, Razorpay offers payroll services, business loans, and banking tools. These services help small and medium businesses manage their finances more effectively and run daily operations without friction.
This steady growth keeps Razorpay deeply connected to India’s business ecosystem. What started as a simple payment gateway has become a complete financial partner for companies. By supporting millions of merchants behind the scenes, Razorpay continues to strengthen its position as one of India’s most important fintech unicorns.
PhonePe was founded in 2015 and launched its UPI-based payment app in 2016. It is one of the biggest players in India’s digital payments space. The company has reached a valuation of nearly $13 billion and handles close to half of all UPI transactions in the country.
More than 500 million users rely on PhonePe for daily payments, bill payments, and mobile recharges. The platform processes billions of transactions every month across cities, towns, and villages. Strong local language support helps PhonePe reach users in rural areas.
Beyond payments, PhonePe has entered the insurance, mutual funds, and gold investments markets. These services push the company’s annual revenue above Rs. 7,000 crore. This steady expansion, vast network, and trusted service keep PhonePe among the most powerful and influential fintech unicorn companies in India.
Groww started in 2016 in Bengaluru with a clear goal of making investing simple for everyone. The platform first focused on mutual funds and later added stocks, IPOs, and fixed deposits. Easy language and a clean app design helped first-time investors understand money matters without confusion.
Groww has reached a valuation of about $7 billion and is one of India’s fastest-growing fintech unicorns. The app has surpassed 12 million active investors and continues to attract young users nationwide.
Groww also reported profits of over Rs. 1,800 crore in 2025. Simple onboarding, transparent fees, and smooth performance built strong trust. This steady growth placed Groww among the most trusted investment platforms in India.
Paytm, founded in 2010 by Vijay Shekhar Sharma, quickly became one of India’s first large digital payment platforms. It started as a mobile wallet and helped people recharge phones and pay bills online. Over time, Paytm expanded into a complete financial services app. Today, Paytm holds a valuation of close to $12 billion and serves more than 300 million monthly active users across India.
As digital payments grew, Paytm shifted its focus toward UPI, merchant services, and financial products. Millions of shops now use Paytm QR codes and Soundbox devices for instant payment alerts. These tools help small merchants accept digital payments easily and manage daily sales without complex systems.
After facing regulatory challenges in earlier years, Paytm regained stability in 2025 by focusing on its core strengths. Strong growth in UPI usage, lending partnerships, and merchant subscriptions supported this recovery. This steady comeback keeps Paytm firmly among India’s leading fintech unicorns.
Pine Labs started its journey in 1998 and has grown into one of India’s strongest fintech unicorns. The company holds a valuation of $6 billion. It focuses mainly on offline merchants and helps them accept digital payments with ease. Its solutions support both small shops and large retail chains nationwide.
The company provides POS machines, EMI options, QR payments, and billing software to more than one million stores. These tools help retailers accept cards, UPI, and contactless payments smoothly. As a result, Pine Labs plays an important role in modernizing physical stores and daily shopping experiences.
Pine Labs has also expanded its presence across Asia and strengthened merchant lending services. These offerings help retailers manage cash flow and grow faster. Scalability and steady innovation have helped Pine Labs become one of the top fintech unicorns in India.
PolicyBazaar was started in 2008 and has grown into India’s largest insurance fintech platform. It helps people thoroughly understand insurance. The platform allows easy comparison of health, life, and motor insurance plans from more than 50 insurance companies. This straightforward approach removes confusion and saves buyers time.
PolicyBazaar currently has a valuation of $8 billion. The platform serves over 15 million households across India. Many users from small cities and towns now rely on it to choose the right insurance plans with confidence.
Rising financial education has increased the demand for insurance products. PolicyBazaar’s simple tools, clear pricing, and wide selection strengthen its position among the top fintech unicorns in India.
CRED was founded in 2018 in Bengaluru by Kunal Shah. The platform is built for people with strong credit scores who use credit cards regularly. CRED focuses on rewarding users for paying their credit card bills on time, making financial discipline feel valuable and straightforward.
CRED has a valuation of approximately $6.5 billion. The app serves around 15 million active members who earn rewards, cashback, and exclusive brand offers. These users form a high-value group that spends more and maintains strong repayment habits.
CRED has grown beyond bill payments and is expanding into services such as personal loans, wealth tracking, and premium shopping. This move has strengthened its fintech model and increased user engagement. Strong trust and quality users keep CRED attractive to lenders and top brands across India.
Lenskart was founded in 2010 by Peyush Bansal. The company began as an online eyewear brand and slowly built trust by offering affordable glasses with a smooth digital buying experience across India.
Lenskart has reached a valuation of $7.5 billion. Along with eyewear, it offers fintech features such as ‘buy now pay later’ and easy digital payments, helping customers manage costs without pressure.
Lenskart now operates more than 2,700 stores worldwide and seamlessly blends online and offline sales. Simple payment options, strong supply chains, and smart technology keep the brand growing fast and widely trusted.
Also Read – How Fintech-as-a-Service Is Leading the Future of Digital Finance
Zepto, founded in 2021 by Aadit Palicha and Kaivalya Vohra, is one of India’s youngest unicorns with a valuation of $5.9 billion in 2025. The company focuses on quick grocery delivery, promising orders within 10 minutes, and has expanded rapidly to 10 major cities.
Strong logistics and advanced technology drive Zepto’s growth. The company uses dark stores and AI-based delivery planning to ensure fast service. Its efficient system allows it to handle high volumes of orders while maintaining quality and speed across urban areas.
Zepto also integrates financial tools, such as vendor credit and digital wallets, to support its operations. In 2025, the company’s revenue grew over 120%, showing how fintech elements can boost quick-commerce startups and create a strong, scalable business model.
The rise of fintech unicorns in India shows how powerful simple ideas can be when combined with technology and trust. These companies made finance easier, faster, and more open for millions of people. From daily payments and long-term investments to insurance and business tools, fintech now touches every part of modern life.
As India moves deeper into the digital age, these unicorns will continue to shape how money flows and grows. Their success proves that solving real problems with clear and simple solutions creates lasting impact. Understanding the top fintech unicorns also reveals how innovation, scale, and user focus help fintech startups become unicorns and define the future of India’s financial sector.
1.) Which unicorn company is in 2025 in India?
Ans. Raise became a unicorn on October 6, 2025, after raising $120M in a Series B round led by Hornbill Capital. Valued at $1.2B, it offers technology-driven platforms for financial, investment, and trading services in India.
2.) What is the future of fintech in 2025?
Ans. In 2025, nearly half of VC-backed fintech acquisitions were by other VC-backed firms. Late-stage companies face a value overhang, making private consolidation a key strategy for achieving successful public exits and shaping the global fintech landscape.
3.) Which is the unicorn of fintech in India?
Ans. India’s leading fintech unicorns in 2025 include PhonePe, Razorpay, Slice, Groww, Open, and CoinDCX. Operating across payments, lending, insuretech, wealthtech, and neobanking, they are pivotal in advancing India’s digital finance ecosystem and financial inclusion.
4.) Which fintech company became a unicorn in 2025?
Ans. Raise became a fintech unicorn in India in 2025 after raising $120M in Series B funding. Valued at $1.2B, it offers technology-led financial solutions, strengthening India’s growing fintech ecosystem and attracting significant investor interest.
5.) Are Indian fintech unicorns expanding globally?
Ans. Yes, many Indian fintech unicorns are expanding internationally. They target markets in Southeast Asia, the Middle East, and Africa, exporting digital payment, lending, and financial management solutions, enhancing India’s global fintech footprint.
6.) How do fintech unicorns impact India’s economy?
Ans. Fintech unicorns drive India’s digital economy by improving financial inclusion, creating jobs, and fostering innovation. They enable easy access to banking, loans, and payments, boosting economic growth and supporting the government’s digital finance initiatives.