Company lists
The Mumbai edition · 2026

Alternative lendingcompanies in Mumbai

Business loans, personal loans, education loans, supply chain finance, credit scores & banking tech and more: the companies building alternative lending in Mumbai, Maharashtra, with their founders, funding, team size and business models.

294 company profiles145 with reported revenue90 with recorded fundingSeptember 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent alternative lending business events in Mumbai

Funding, M&A, contract wins and launches involving 392 alternative lending companies in Mumbai, last 24 months: 35 funding rounds · 24 M&A deals · 13 launches · 4 Contracts. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

LaunchAI-powered Gold Purity Evaluation Machine

Augmont

Augmont has launched an AI-powered Gold Purity Evaluation Machine at its Poonamallee Gold Loan branch in Chennai, Tamil Nadu, as part of its efforts to digitize and streamline gold…

Gold Loan / Gold Assessment
FundingSeries A

Credilio

Fintech startup Credilio has raised ₹100 Cr (about $10.5 Mn) in its Series A funding round led by existing backer Cornerstone Ventures, with participation from Shepherd Hill, Roots…

Investors Cornerstone ventures, Shepherd Hill, Roots Ventures, ESV-Arthya AIF
Fintech
Funding

GLAAS

Seasoned entrepreneur Devesh Sachdev has invested $5 million in GLAAS, an embedded credit platform for MSMEs, and joined the company as co-founder and Managing Director.

Investors Devesh Sachdev
Fintech
LaunchKonfir

Experian

Experian Experian, the global data and technology company, has announced the expansion of its verification capabilities in the UK with the addition of Konfir.

Verification
Funding

Finfinity

"Finfinity raised $2.4 million,"

Investors Na
Lending
FundingSeries A

Credilio

Fintech startup Credilio has raised around Rs 30 crore (approximately $3.3 million) in its Series A round led by existing investor Cornerstone Ventures, with participation from Ashra…

Investors Cornerstone ventures, Ashra Private Equity Fund
Fintech
Funding

Ecofy

Ecofy, an NBFC focused on financing climate change solutions, raised Rs 380.5 crore ($41 million approx,) from BII and DAIF.

Investors Bii, DAIF
FinTech
LaunchEVA

Experian

Experian unveiled the next evolution of the Experian Virtual Assistant, EVA, to provide near real‑time spending analysis, tailored recommendations, and relevant financial offers based on…

Virtual Assistant
FundingSeed

Origa

Voice AI startup Origa, founded by IIT Delhi alumni, secured $450,000 in funding led by Antler Singapore, along with angel investors.

Investors Antler Singapore, Angel Investors
Voice AI
LaunchJioFinance

Jio financial services

Jio Financial Services Ltd on Friday launched an online marketplace for financial products through its new app JioFinance.

Online Marketplace for Financial Services
FundingSeries C

Easy home finance

Easy Home Finance, an Indian fintech company offering digital home loans, raised $30 million in a Series C round led by Investcorp’s Growth Equity Fund.

Investors Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, Claypond Capital, SMBC Asia Fund
Fintech lending
ContractTechnology

Veefin solutions · client: Bank of the philippine islands

The partnership will see BPI adopt Veefin’s end-to-end supply chain finance (SCF) platform to enhance its digital SCF services for corporate clients and their supplier networks.

Banking
M&AMerger · Announced

Veefin solutions acquires GlobeTF Solutions

Veefin Solutions has decided to merge its subsidiaries GlobeTF Solutions and Estorifi Solutions with itself to strengthen governance, align interests with minority shareholders and…

Funding

Supermoney

The fresh capital follows a $20 million infusion Flipkart made when it spun off Supermoney last year.

Investors Flipkart
Fintech
FundingEquity

Snapmint

No-cost EMI platform Snapmint, which last raised capital in December, is now preparing for a major equity funding round

Investors Anicut capital, 9Unicorns, Perpetuity Ventures, Pegasus FinInvest
Funding

Jio financial services

Jio Reinsurance Ltd will invest an amount of Rs 2.50 lakh towards initial subscription of 25,000 equity shares of…

Investors Jio Reinsurance Ltd
FundingExternal Commercial Borrowing (ECB) loan

Avanse financial services

Mumbai, August 22, 2025: Avanse Financial Services Limited (“Avanse”), a leading education-focused non-banking financial company (NBFC) in India, has successfully secured a…

Investors Dbs bank, Hsbc india
Education financing
LaunchCIBIL Ki Kahaniyan

Transunion cibil

Partners with Amar Chitra Katha to launch a special edition, 'CIBIL Ki Kahaniyan' ('Stories of CIBIL'), using Tinkle's iconic character Suppandi to explain credit concepts in a fun,…

Comic book
Funding

Kissht

Digital lending platform Kissht, operated by OnEMI Technology Solutions, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore through a…

Investors Vertex ventures, Ventureast, Endiya Seed, AION Advisory
Digital lending
Funding

Zype

Meanwhile, Zype, a digital lending platform from India, raised $10.2 million to expand its presence.

Digital lending
FundingGrowth

Credit wise capital

Moving to India, Credit Wise Capital, a consumer lending platform focused on financing two-wheelers and EVs, raised $23.3 million in a growth funding round.

Consumer Lending
FundingSeries C

Flexiloans

Last week, NBFC Flexiloans secured a funding of INR 375 Cr as a part of its ongoing Series C funding round.

Investors Nuveen, Fundamentum, Accion Digital Transformation, Maj invest
NBFC
LaunchQ-BRIDGE

Mos Utility

Shares of fintech firm MOS Utility are in focus as the company has announced the launch of fintech solution Q-BRIDGE that offers multiple services, including booking train tickets on the…

Fintech solution
FundingSeries B

Jai kisan

Rural Fintech Startup Jai Kisan Raises Rs 26.5 Cr In Extended Series B Round

Fintech
FundingLong-term loan

Ecofy

Ecofy Finance, a non-banking financial company (NBFC) focused on supporting India’s green transition, has raised INR 104 Crore ( around $12.5 million) long-term loan facility from the…

Investors Investment Fund for Developing Countries (IFU)

Alternative lending companies in Mumbai, by revenue

Browse alternative lending companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 145 alternative lending companies in Mumbai, Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Provider of lending solutions for consumers and enterprises

Alternative lending
₹8,083.02 crFY 2023-24
+41%2023–2024
—Not available
19 yr2007
87postings · last posted Sep 2026

Alternative investment platform for gold

Investment tech
₹5,568.76 crFY 2024-25
+240%2024–2025
267+22% 12 mo to Dec 2023LinkedIn · Jul 2026
32 yr1994
0none in 3 months

Provider of online unsecured business loans to MSMEs

Alternative lending
₹3,199.17 crFY 2023-24
Not reported
647+4% 12 mo to Sep 2024recorded Sep 2024
22 yr2004
0none in 3 months

Provider of credit scores datasets

Data as a service
₹2,306.28 crFY 2024-25
+17%2024–2025
1,017+18% 12 mo to Sep 2024LinkedIn · Jul 2026
26 yr2000
0none in 3 months

Provider of financial services specializing in personal, education, and business loans

Alternative lending
₹1,882.62 crFY 2024-25
+46%2024–2025
2,127+90% vs previous recordrecorded Aug 2024
10 yr2016
8postings · last posted Sep 2026

Provider of personal loans, business loans, and loans against property

Alternative lending
₹1,352.69 crFY 2024-25
-20%2024–2025
2,271+22% 12 mo to Jul 2024LinkedIn · Jul 2026
11 yr2015
23postings · last posted Sep 2026

Provider of digital financial services including loans, transfers, payments, and investments

Alternative lending
₹831.55 crFY 2024-25
+137%2024–2025
450+58% 12 mo to Jul 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months · last posted May 2026

Operator of a peer-to-peer lending platform connecting lenders and borrowers

Alternative lending
₹741.93 crFY 2024-25
-5%2024–2025
269+4% 12 mo to Jun 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Mar 2026

AI-enabled app-based marketplace offering diversified loans for consumers

Alternative lending
₹577.76 crFY 2022-23
Not reported
325+0% 12 mo to Aug 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Apr 2026

Provider of supply chain financing solutions for small and medium enterprises

Alternative lending
₹568.70 crFY 2024-25
+42%2024–2025
1,327+48% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months · last posted Jun 2026

Provider of financial products focused on education loans and related services

Higher education tech
₹543.64 crFY 2024-25
+48%2024–2025
547+24% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
5postings · last posted Aug 2026

Provider of credit information and analytical tools

Banking tech
₹531.44 crFY 2024-25
+50%2024–2025
438+63% 12 mo to Sep 2024LinkedIn · Jul 2026
20 yr2006
84postings · last posted Sep 2026

Provider of working capital solutions and supply chain finance programs

Scm software
₹497.34 crFY 2024-25
Not reported
220+1% 12 mo to Aug 2024LinkedIn · Jul 2026
9 yr2017
8postings · last posted Sep 2026

Platform offering financial solutions

Alternative lending
₹466.97 crFY 2024-25
+2%2024–2025
617-14% 12 mo to Sep 2024LinkedIn · Jul 2026
21 yr2005
0none in 3 months · last posted Apr 2026

Diversified NBFI

Alternative lending
₹435.28 crFY 2024-25
+68%2024–2025
723+33% 12 mo to Jan 2024LinkedIn · Jul 2026
9 yr2017
1postings · last posted Jul 2026

App-based platform for financial products

Alternative lending
₹372.43 crFY 2023-24
-30%2023–2024
477+8% vs previous recordrecorded
31 yr1995
0none in 3 months

Provider of suite of financial solutions

Alternative lending
₹358.38 crFY 2024-25
+34%2024–2025
462LinkedIn · Jul 2026
26 yr2000
0none in 3 months · last posted Feb 2026

Online lending marketplace for business loans

Alternative lending
₹309.02 crFY 2024-25
+56%2024–2025
138+33% 12 mo to Jul 2024recorded Jul 2024
38 yr1988
0none in 3 months

Developer of an online platform for personal loans

Consumer and sme loans
₹299.99 crFY 2024-25
-51%2024–2025
340+32% 12 mo to Jun 2023recorded Jun 2023
30 yr1996
0none in 3 months · last posted Jun 2026

Solar financing, equipment procurement, and performance monitoring solutions

Renewable energy tech
₹279.47 crFY 2024-25
+58%2024–2025
182+34% 12 mo to Aug 2024LinkedIn · Jul 2026
8 yr2018
4postings · last posted Sep 2026

Developer of a P2P lending platform for personal loans

Alternative lending
₹236.43 crFY 2024-25
+28%2024–2025
300+26% 12 mo to Sep 2024recorded Sep 2024
11 yr2015
2postings · last posted Jul 2026

Credit rating and research agency offering financial data

Alternative lending
₹233.18 crFY 2024-25
+10%2024–2025
273+3% 12 mo to Sep 2024recorded Sep 2024
31 yr1995
0none in 3 months

Provider of financial services for e-commerce businesses

Alternative lending
₹193.09 crFY 2023-24
Not reported
—Not available
17 yr2009
0none in 3 months

Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions

E-commerce enablers
₹185.01 crFY 2022-23
+37%2022–2023
156-26% 12 mo to Aug 2024LinkedIn · Jul 2026
11 yr2015
1postings · last posted Jul 2026

Provider of alternative debt and supply chain financing solutions to businesses

Alternative lending
₹190.37 crFY 2024-25
+20%2024–2025
171+17% 12 mo to Jul 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months
50 of 294 companies shown here · the full list is on Radar
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Explore alternative lending companies in Mumbai by what you are looking for

Browse the top alternative lending companies in Mumbai, from online personal and business loan providers to education and supply chain finance platforms. You can also find alternative lending startups in Mumbai and see which ones are hiring.

9 ways to explore alternative lending in Mumbai

Business & SME loan providersOnline personal loan companiesEducation loan providersSupply chain & trade finance companiesCredit score & banking technology companiesLoan marketplaces & comparison platforms

Business & SME loan providers

Lenders offering business loans, working capital and term loans to small and medium businesses.

  1. TrustAvenue

    Provider of online unsecured business loans to MSMEs

    Alternative lending
    See in list
  2. APAC Group

    Diversified NBFI

    Alternative lending
    See in list
  3. Apollo Finvest

    Enable companies to offer digital loans

    Alternative lending
    Website
  4. SMENiwas

    It provides debt funding for MSMEs and startups

    Alternative lending
    Website
  5. Flexi Payment

    Provider of supply chain finance, invoice discounting, and working capital loans

    Service providers to banks
    Website

Online personal loan companies

Digital lenders and platforms offering personal loans, payday loans and consumer credit.

  1. SMFG India Credit

    Provider of lending solutions for consumers and enterprises

    Alternative lending
    See in list
  2. Kissht

    Provider of personal loans, business loans, and loans against property

    Alternative lending
    See in list
  3. Branch

    Provider of digital financial services including loans, transfers, payments, and investments

    Alternative lending
    See in list
  4. LiquiLoans

    Operator of a peer-to-peer lending platform connecting lenders and borrowers

    Alternative lending
    See in list
  5. CASHe

    AI-enabled app-based marketplace offering diversified loans for consumers

    Alternative lending
    See in list
163 companies in Mumbai

Education loan providers

Companies that finance student fees and higher education through loans and marketplaces.

  1. Auxilo

    Provider of financial products focused on education loans and related services

    Higher education tech
    See in list
  2. Eduvanz

    Provider of financial assistance for education, career, and skills development

    Alternative lending
    Website
  3. Kuhoo

    Provider of financial products designed to fund student educational expenses

    Higher education tech
    Website
  4. GlobCred

    Facilitator of education loans and study abroad services

    Alternative lending
    Website
  5. Eduloans

    Provider of education loans

    Service providers to banks
    Website

Supply chain & trade finance companies

Platforms offering invoice financing, invoice discounting, trade finance and supply chain finance.

  1. Mintifi

    Provider of supply chain financing solutions for small and medium enterprises

    Alternative lending
    See in list
  2. CredAble

    Provider of working capital solutions and supply chain finance programs

    Scm software
    See in list
  3. Bizongo

    Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions

    E-commerce enablers
    See in list
  4. Receivables Exchange of India

    TReDS exchange for financing of trade receivables of MSMEs through multiple financiers

    Alternative lending
    See in list
  5. Veefin

    Provider of supply chain finance technology and digital lending solutions

    Scm software
    See in list

Credit score & banking technology companies

Credit bureaus, alternative credit scoring and technology providers serving banks and lenders.

  1. TransUnion CIBIL

    Provider of credit scores datasets

    Data as a service
    See in list
  2. Experian

    Provider of credit information and analytical tools

    Banking tech
    See in list
  3. India Ratings and Research

    Credit rating and research agency offering financial data

    Alternative lending
    See in list
  4. Syntellect

    Platform offering risk assessment solutions

    Alternative lending
    Website
  5. Index Advisory

    Platform offering financial solutions

    Banking tech
    Website

Loan marketplaces & comparison platforms

Online marketplaces and peer-to-peer platforms that connect borrowers with lenders.

  1. Finwizz Loans

    Platform offering financial solutions

    Alternative lending
    See in list
  2. Choice Connect

    The platform facilitates financial product sales for associates

    Alternative lending
    See in list
  3. RupeeBoss

    Platform offering financial solutions

    Alternative lending
    See in list
  4. Sabkasaathi

    Comparison platform for consumer loans

    Internet first insurance platforms
    Website
  5. Quid

    Loan aggregation platform connecting borrowers with lenders

    Alternative lending
    Website

Alternative lending startups in Mumbai

Newer alternative lending companies in Mumbai founded in recent years.

  1. FatakPay

    Operator of an application providing instant personal loans and financial services

    Alternative lending
    See in list
  2. FDPL Finance

    Online lending platform offering consumer loans

    Alternative lending
    See in list
  3. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list
  4. Zype

    Personal loans and a bill payment app for consumers

    Alternative lending
    See in list
  5. Fundly

    Offers financial solutions for pharmaceutical supply chain management

    Pharmacy it
    Website
65 companies in Mumbai

Alternative lending companies hiring in Mumbai

Alternative lending companies in Mumbai with open roles right now.

  1. SMFG India Credit

    Provider of lending solutions for consumers and enterprises

    Alternative lending
    See in list
  2. InCred

    Provider of financial services specializing in personal, education, and business loans

    Alternative lending
    See in list
  3. Kissht

    Provider of personal loans, business loans, and loans against property

    Alternative lending
    See in list
  4. Branch

    Provider of digital financial services including loans, transfers, payments, and investments

    Alternative lending
    See in list
  5. LiquiLoans

    Operator of a peer-to-peer lending platform connecting lenders and borrowers

    Alternative lending
    See in list
36 companies in Mumbai

Listed alternative lending companies in Mumbai

Publicly listed alternative lending and lending-related companies in Mumbai.

  1. Kissht

    Provider of personal loans, business loans, and loans against property

    Alternative lending
    See in list
  2. Dhani

    App-based platform for financial products

    Alternative lending
    See in list
  3. Niyogin

    Online lending marketplace for business loans

    Alternative lending
    See in list
  4. MOS

    Provider of financial services for e-commerce businesses

    Alternative lending
    See in list
  5. Veefin

    Provider of supply chain finance technology and digital lending solutions

    Scm software
    See in list
7 companies in Mumbai
Mobile reach

Top 10 alternative lending apps from Mumbai

The most-installed Android apps published by alternative lending companies headquartered in Mumbai — 248.1M installs between them. 64 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Dhani: UPI, Cards & Bills

by Dhani

Installs93.4M
Rating3.692.0M ratings
Last updatedApr 2026
View on Google Play ↗
Dhani: UPI, Cards & Bills screenshot 1Dhani: UPI, Cards & Bills screenshot 2Dhani: UPI, Cards & Bills screenshot 3
2

Kissht: Instant Personal Loans

by Kissht

Installs54.6M
Rating4.441.3M ratings
Installs, year on year+45%
Last updatedMay 2026
View on Google Play ↗
Kissht: Instant Personal Loans screenshot 1Kissht: Instant Personal Loans screenshot 2Kissht: Instant Personal Loans screenshot 3Kissht: Instant Personal Loans screenshot 4Kissht: Instant Personal Loans screenshot 5Kissht: Instant Personal Loans screenshot 6
3

InstaMoney Personal Loan App

by InstaMoney

Installs28.3M
Rating4.272.1M ratings
Installs, year on year+52%
Last updatedMay 2026
View on Google Play ↗
InstaMoney Personal Loan App screenshot 1InstaMoney Personal Loan App screenshot 2InstaMoney Personal Loan App screenshot 3InstaMoney Personal Loan App screenshot 4InstaMoney Personal Loan App screenshot 5InstaMoney Personal Loan App screenshot 6
4

CASHe: Quick Personal Loan App

by CASHe

Installs22.0M
Rating2.76394K ratings
Installs, year on year+20%
Last updatedMay 2026
View on Google Play ↗
CASHe: Quick Personal Loan App screenshot 1CASHe: Quick Personal Loan App screenshot 2CASHe: Quick Personal Loan App screenshot 3CASHe: Quick Personal Loan App screenshot 4CASHe: Quick Personal Loan App screenshot 5
5

LazyPay: Loan App & Pay Later

by Lazypay

Installs17.1M
Rating4.27581K ratings
Installs, year on year+24%
Last updatedMay 2026
View on Google Play ↗
LazyPay: Loan App & Pay Later screenshot 1LazyPay: Loan App & Pay Later screenshot 2LazyPay: Loan App & Pay Later screenshot 3LazyPay: Loan App & Pay Later screenshot 4LazyPay: Loan App & Pay Later screenshot 5LazyPay: Loan App & Pay Later screenshot 6
6

Zype Instant Personal Loan App

by Zype

Installs10.3M
Rating4.7383K ratings
Installs, year on year+61%
Last updatedMay 2026
View on Google Play ↗
Zype Instant Personal Loan App screenshot 1Zype Instant Personal Loan App screenshot 2Zype Instant Personal Loan App screenshot 3Zype Instant Personal Loan App screenshot 4Zype Instant Personal Loan App screenshot 5Zype Instant Personal Loan App screenshot 6
7

Small Business Loan: Tradofina

by Tradofina

Installs9.1M
Rating4.42411K ratings
Last updatedApr 2026
View on Google Play ↗
Small Business Loan: Tradofina screenshot 1Small Business Loan: Tradofina screenshot 2Small Business Loan: Tradofina screenshot 3Small Business Loan: Tradofina screenshot 4Small Business Loan: Tradofina screenshot 5Small Business Loan: Tradofina screenshot 6
8

Quid: Personal Loan App

by Quid

Installs7.1M
Rating—
Installs, year on year+94%
Last updatedApr 2026
View on Google Play ↗
Quid: Personal Loan App screenshot 1Quid: Personal Loan App screenshot 2Quid: Personal Loan App screenshot 3Quid: Personal Loan App screenshot 4Quid: Personal Loan App screenshot 5Quid: Personal Loan App screenshot 6
9

RapidRupee - Personal Loan App

by RapidRupee

Installs4.4M
Rating—
Installs, year on year+131%
Last updatedMay 2026
View on Google Play ↗
RapidRupee - Personal Loan App screenshot 1RapidRupee - Personal Loan App screenshot 2RapidRupee - Personal Loan App screenshot 3RapidRupee - Personal Loan App screenshot 4
10

ePayLater - Get Instant Credit

by ePayLater

Installs1.7M
Rating—
Installs, year on year+11%
Last updatedMay 2026
View on Google Play ↗
ePayLater - Get Instant Credit screenshot 1ePayLater - Get Instant Credit screenshot 2ePayLater - Get Instant Credit screenshot 3ePayLater - Get Instant Credit screenshot 4ePayLater - Get Instant Credit screenshot 5ePayLater - Get Instant Credit screenshot 6
The business behind the activity

Alternative lending financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 118 alternative lending companies in Mumbai, Maharashtra for FY24-25 — 155 of the 294 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 70% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹13,933.01 cr

118 companies filing accounts

combined net profit₹1,107.90 cr

8.0% aggregate margin

are profitable44%

51 of 118 companies

median revenue~₹8.5 cr

the typical company

median revenue growth+20%

into FY24-25

earned by the top five70%

revenue concentration

Six-year view

Combined revenue of filing companies

₹1,916.05 crFY19-2081 filers
₹1,956.46 crFY20-2194 filers
₹3,765.12 crFY21-22103 filers
₹5,422.01 crFY22-23106 filers
₹8,101.22 crFY23-24117 filers
₹13,933.01 crFY24-25118 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 96 companies over three years

+144%
FY22-23₹5,349.85 cr₹331.16 cr net
FY23-24₹7,487.18 cr₹619.89 cr net
FY24-25₹13,046.48 cr₹1,013.31 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr3816% profitable
₹1–10 cr2425% profitable
₹10–100 cr3858% profitable
₹100–1,000 cr1694% profitable
Over ₹1,000 cr2100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking38
0–20%15
20–50%14
50–100%19
Doubled+22

108 companies with accounts for both years; median growth +20%.

Profitability

Profit is concentrated at the top

51profitable
66loss-making
8.0%aggregate margin
-13.7%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Ruloans FinancialRULOANS FINANCIAL SERVICES PRIVATE LIMITED
GetGrowth CapitalGetgrowth Capital Private Limited+434%₹16.43 cr
FundlyARDOUR ANALYTICS PRIVATE LIMITED+359%₹30.07 cr
KuhooKUHOO TECHNOLOGY SERVICES PRIVATE LIMITED+352%₹18.91 cr
FatakPayFATAKPAY DIGITAL PRIVATE LIMITED
AugmontAUGMONT GOLDTECH PRIVATE LIMITED+240%₹5,568.76 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Receivables Exchange of IndiaRECEIVABLES EXCHANGE OF INDIA LIMITED
MonedoMONEDO FINANCIAL SERVICES PRIVATE LIMITED
India Ratings and ResearchINDIA RATINGS AND RESEARCH PRIVATE LIMITED35.6%₹233.18 cr
TransUnion CIBILTRANSUNION CIBIL LIMITED34.8%₹2,306.28 cr
Integro FinservINTEGRO FINSERV PRIVATE LIMITED34.1%₹12.42 cr
VeefinVEEFIN SOLUTIONS LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Alternative lending89₹4,202.58 cr~₹7.1 cr45%8.2%
Leaders

Largest alternative lending companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
AugmontAUGMONT GOLDTECH PRIVATE LIMITED₹5,568.76 cr₹24.03 cr0.4%+240%
TransUnion CIBILTRANSUNION CIBIL LIMITED₹2,306.28 cr₹802.19 cr34.8%+17%
BranchBRANCH INTERNATIONAL FINANCIAL SERVICES PRIVATE LIMITED₹831.55 cr₹103.91 cr12.5%+137%
AuxiloAUXILO FINSERVE PRIVATE LIMITED₹543.64 cr₹111.94 cr20.6%+48%
ExperianEXPERIAN SERVICES INDIA (PRIVATE LIMITED)₹531.44 cr₹10.79 cr2.0%+50%
Finwizz LoansFINWIZZ FINANCIAL SERVICES PRIVATE LIMITED₹466.97 cr₹13.19 cr2.8%+2%
APAC GroupAPAC FINANCIAL SERVICES PRIVATE LIMITED₹435.28 cr₹110.03 cr25.3%—
Ring, KisshtONEMI TECHNOLOGY SOLUTIONS LIMITED₹321.60 cr₹50.90 cr15.8%-25%
Bhanix Finance and InvestmentBHANIX FINANCE AND INVESTMENT LIMITED₹299.99 cr₹3.12 cr1.0%-51%
India Ratings and ResearchINDIA RATINGS AND RESEARCH PRIVATE LIMITED₹233.18 cr₹83.02 cr35.6%+10%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

AdTech Industry Landscape of Mumbai

The financials above are one chapter. The full alternative lending landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the alternative lending landscape of Mumbai
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Alternative lending funding and M&A across India

1,438 recorded equity rounds have gone to 2,076 alternative lending companies in India — how much, at which stage, into which sub-sectors, from whom, and how Mumbai compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months43

US$604.24m

equity rounds, last 24 months137

US$1.40bn

raised over five yearsUS$7.41bn

726 rounds in India

M&A deals, Mumbai24

last 24 months

Capital by year

Equity funding into alternative lending in India

amount rounds
$712m2018130
$1.2bn2019168
$1.0bn2020117
$2.0bn2021173
$1.9bn2022186
$890m2023124
$1.5bn2024130
$706m202585
$478m202628

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$1.97bn across 173 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$23.03m85 rounds · median US$163k
SeedUS$442.63m310 rounds · median US$747k
Series AUS$1.35bn138 rounds · median US$5.00m
Series BUS$1.42bn86 rounds · median US$10.20m
Series CUS$1.35bn41 rounds · median US$29.45m
Series D+US$2.82bn66 rounds · median US$20.12m
Where the money went · five years

Most-funded sub-sectors

Alternative lendingUS$4.87bn515 rounds · 228 companies
PaymentsUS$508.12m12 rounds · 4 companies
Consumer and sme loansUS$302.52m21 rounds · 9 companies
E-commerce enablersUS$241.31m5 rounds · 1 companies
Insurance itUS$233.97m10 rounds · 3 companies
Banking techUS$191.31m31 rounds · 13 companies
Horizontal e-commerceUS$177.00m13 rounds · 1 companies
Corporate activity · last 24 months

M&A in Mumbai

21Acquisition
3Merger

Most active acquirers

  1. Veefin solutions10
  2. Experian6
  3. Jio financial services4
  4. InCred Finance4

Most acquired or merged

  1. White Rivers Media Solutions2
  2. Jio payments bank2
  3. State bank of india2
  4. AtData1
  5. Kyc3601

Each deal appears in the events strip at the top of the page.

Alternative lending funding in Mumbai

90 alternative lending companies in Mumbai have recorded equity funding, US$2.53bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind alternative lending companies in Mumbai. 212 of 294 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai alternative lending companies by sub-sector

The most common specialisations among alternative lending companies in Mumbai. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring alternative lending in India and nearby markets.

Coming soon