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Indian FinTechs that won the National Startup Awards 2021

By Leandra Monteiro

January 19, 2022

  • Awards
  • Digital Payments
  • FinTech

Startup PM Narendra Modi declared January 16 as National Startup Day. Putting the spotlight on startups, PM Modi called them the backbone of new India.

The National Startup Awards seeks to recognise startups that contribute to the economic dynamism by spurring innovation and injecting competition. It is focussed on startups that are building innovative products/solutions, scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.

Here are the 2 FinTech startups who were felicitated at the National Startup Awards 2021:


Bengaluru-based startup called ToneTag, largest sound-wave communication technology platform in the world was declared the winner in the FinTech category’s financial inclusion sub-sector. ToneTag’s technology uses sound waves to enable contactless, offline, and proximity data communication on any device. With 17 globally filed patents and multiple grants, this Bengaluru based company is changing the payment and transaction landscape in India.

ToneTag is now poised to provide voice-based digital payment options to more than 600 million feature phone users for the first time to improve their lives, start businesses and gain control of their finances, leading them to digital empowerment.

Umbo Idtech Private Limited

It is an Ahmedabad-based startup which was awarded as a winner in the FinTech category’s  insurance sub-sector. The startup was founded in 2018 and has built a full-stack platform that enables omnichannel insurance distribution for its clients.

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