5 innovative startups revolutionizing the financial sector

By Leandra Monteiro

With the deluge in the digital revolution, financial technology acts as a synergy between technology and financial headways that magnify delivery of high-quality financial services. Today the financial technology sector is striving to fill the market gaps and aims to bolster the profitability of business organizations.

In fact, leading VC investors like Blinc Invest have shown interest when it comes to investment and to arm the Financial Technology Startups with necessary funds and financial support. As per the bi-annual report on global FinTech investment trends published by KPMG, India has captivated $2.7 billion in FinTech investment in 2020, which is the second-highest amount after 2019’s record $3.5 billion. It simply depicts the huge potential that financial technology brands hold in today’s time. Here is the rundown of 5 innovative financial technology brands that are transforming the financial sector with their innovative and ingenious solutions-

CrediWatch– Crediwatch (CW) is a digital trust platform that has demonstrated multifarious use cases for the likes of large public sector banks to boutique corporate firms to small-scale industrial units. CW is an industry-defining AI/ML-powered company that operates in the space of business analytics, credit risk intelligence, and insights on businesses. CW is driven by its mission to solve for: 1. Financial inclusion of small and medium enterprises (SMEs) 2. Removing barriers to trade and credit 3. Building trust and transparency in business.

Revfin– Striving to work towards improving financial inclusion in India, RevFin (RevFin Services Private Limited) is an advanced digital consumer lending platform for commercial EV financing that makes getting a loan convenient and accessible to stakeholders. The fintech platform has its own NBFC to issue the loan amount using non-traditional data and the three key techniques – Biometrics, Psychometrics and Gamification

Vital– Launched in 2020, GetVital is the brainchild of the former co-founder of Truly Madly and a senior management member of Expedia and MakeMyTrip, Rahul Kumar, and health insurance industry expert Jayan Mathews. GetVital is a next-generation platform offering tailor-made, comprehensive and pocket-friendly health plans designed specifically for every member’s individual needs. The Platform raises $3mn in pre-series A round led by BLinC Invest.

PitchBook– PitchBook is a financial software and data company that provides information about public and private equity markets. The platform enables companies, investors, advisors and professionals to capitalize on new business opportunities via due diligence research on private market intel, fundraising information and source investments.

Klarna- Klarna is a Fintech company that allows shoppers to buy products now, and pay for them later with no interest. Their product doubles as a marketing strategy for merchants to acquire customers and allow them to pay later. Shoppers can buy products from Asos, Topshop and other online stores and try clothes on before they buy. Shoppers usually have between 14 and 30 days to pay for their order.

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