Interview Times 
According to a survey released on Thursday, India became the fourth-highest financed fintech startup ecosystem globally thanks to a 68% increase in investment for the country’s fintech industry during the months of July and September (Q3) compared to the prior quarter. With around 1 lakh firms, the nation ranks third internationally in terms of startup ecosystem size, behind the US and China.
In Q3, there were 7 acquisitions and 2 IPOs but no new unicorns. In the fintech sector, Bengaluru received the most money, followed by Mumbai and Noida, according to a research by Tracxn, a top market information platform. The top financiers in the fintech industry have been identified as Peak XV Partners, Y Combinator, and Accel.
Specific industry areas had tremendous growth, with alternative lending, banking technology, and regulatory technology emerging as the top achievers in the first half of this year. Particularly, Alternative Lending had impressive increase of 259% compared to Q2 2023, hitting $305 million in financing.The sector’s expansion was aided by the BNPL (buy now, pay later) market, which has witnessed tremendous development and adoption throughout the nation.
Neha Singh, co-founder of Tracxn, stated, “In a period of economic instability throughout the world, India’s fintech sector has exhibited incredible resilience and development.This increase highlights the industry’s ingenuity and dynamism, placing India as a major participant in the global fintech market, she continued.
In Q3 2023, Banking Tech got $282 million in financing, an increase of 396 percent over Q2 and 81 percent over Q3 2022.RegTech (regulatory technology) got $229 million in financing in Q3, an increase of 100% from the previous quarter.
Platforms for payments, embedded finance, and Internet-first insurance all had declines of 91%, 99%, and 64%, respectively.A remarkable $229 million was raised in a series D round headed by Kedaara Capital for Perfios, a real-time credit-decisioning platform, during the third quarter of 2023.Seven purchases were made during the quarter, which is a minor decrease of 12% from the eight made in Q3 2022.According to the study, two businesses, Zaggle and Veefin, went public in Q3.
