According to a report, India’s financial technology firms are poised to become triple-valued over the next five years, valuing $ 150-160 billion by 2025.
The report was unveiled on Saturday that the Boston Consulting Group (BCG) and FICCI have described the study’s findings to shape the value-generating potential and identify the imperatives for India’s fintech development.
“India is poised to realize a fintech sector valuation of $ 150–160 billion by 2025, which translates to incremental value-generating capacity of approximately $ 100 billion. To fulfill this ambition, India’s fintech sector will require investments of $ 20-25 billion over the next five years.
There are over 2,100 fintech firms in India, 67% of which have been set up in the last 5 years alone. The industry is valued at $ 50-60 billion.
The industry’s growth has been uninterrupted by the epidemic since January 2020 with the emergence of three new unicorns and five new Soonicorns ($ 500 million + valuation).
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