Company lists
The Maharashtra edition · 2026

FinTechcompanies in Maharashtra

Payments, lending, investing & trading, banking & accounting tech, insurtech and more: the companies building fintech in Maharashtra, with their founders, funding, team size and business models.

2,586 company profiles883 with reported revenue355 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent fintech business events in Maharashtra

Funding, M&A, contract wins and launches involving 3,528 fintech companies in Maharashtra, last 24 months: 95 M&A deals · 80 funding rounds · 73 Contracts · 42 launches. 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
M&AAcquisition · Completed

Ran Ventures acquires Zaggle

RAN Ventures purchased 1 Lakh equity shares of Zaggle from the open market on May 18, taking its stake in the company to 44.23% from 44.15%.

Fintech SaaS
M&AAcquisition · Completed

Raise financial services acquires GreenLife Insurance Broking Private Limited

Raise Financial Services has acquired GreenLife Insurance Broking Private Limited in a cash-and-stock transaction, marking the company's entry into India's insurance distribution market.

Insurance
M&AAcquisition · Completed

Raise financial services acquires GreenLife Insurance Broking

Raise Financial Services, the holding company of the stock trading platform Dhan, has recently acquired GreenLife Insurance Broking as part of its formal entry into the insurance…

Insurance
M&AAcquisition · Announced

Zaggle Prepaid Ocean Services acquires Dice

Zaggle Prepaid Ocean Services Ltd, a spend management solutions company, has said that its board has approved the transaction structure for the strategic acquisition of DICE. Zaggle has…

AI Spend Management Platform
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
LaunchFintra

Aurionpro Solutions

"Aurionpro Solutions Limited has introduced Fintra, an artificial intelligence (AI)-native platform designed to automate trade finance workflows while retaining human oversight at key…

AI-powered trade finance platform
ContractService

Zaggle Prepaid Ocean Services · client: Generali Central Insurance Company

Generali Central Insurance Company will now have access to the Zaggle Zoyer platform, thanks to an arrangement announced by Zaggle Prepaid Ocean Services.

Spend management
FundingRight issue

5paisa capital

Digital Investment Platform 5Paisa Capital has successfully completed its right issue of Rs 468.8 crore. The company’s right issue got a total of 1.24 times subscription. According to…

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

M-pesa

Vodacom has invested $28m to upgrade technology for its M-Pesa platform in Tanzania.

Investors Vodacom
Fintech (Mobile Money)
M&AAcquisition · Completed

Dhan acquires Filter Coffee

The development comes more than a year after Dhan acquired new-age media startup Filter Coffee to foray into business content space.

M&AAcquisition · Announced

Dhan acquires Stratzy

Previously, Dhan acquired Stratzy in November 2025 for around $4-4.5 million, strengthening its algorithmic investing capabilities.

Financial Services
Funding

Finfinity

"Finfinity raised $2.4 million,"

Investors Na
Lending
ContractService

Experience commerce · client: Fiat Payments

Experience Commerce, a full-service digital marketing agency and part of the Cheil SWA Group, has secured the annual social media mandate for Fiat Payments Private Limited (FiatPe)…

Digital marketing
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
ContractService

Vakrangee · client: Bajaj General Insurance Limited

Mumbai-based software player and white-label ATM operator Vakrangee Ltd on Saturday said it has entered into a corporate agency arrangement with Bajaj General Insurance Limited to…

Insurance
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
ContractTechnology

Network People Services Technologies · client: Na

Mumbai : Network People Services Technologies Limited (NPST), India’s leading digital banking and payments technology company, today announced that it has secured a strategic mandate…

ContractTechnology

Network People Services Technologies · client: Large cooperative bank

Network People Services Technologies Limited (NPST) has secured a mandate from a large cooperative bank to deploy its UPI switching infrastructure.

Payments
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
ContractInfrastructure

Aurionpro · client: Na

Aurionpro Solutions Limited (BSE: 532668 | NSE: AURIONPRO) is pleased to announce its largest-ever order win in the fast-growing data centre segment, secured from one of the leading…

Data Centre
FundingDebt

Mintoak

Merchant SaaS platform Mintoak is set to raise Rs 80 crore in debt from BlackSoil to fund the acquisition of Dubai-based customer loyalty management platform Innovative Consumer Concepts…

Investors Blacksoil
Merchant SaaS platform
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
M&AAcquisition · Announced

Billdesk acquires Worldline India business

Mumbai-headquartered digital payments processor Billdesk is set to acquire the India business of French payments giant Worldline for an estimated equity value of $70 million.

Payments
Funding

Truboard partners

Asset performance platform Truboard Partners has secured Rs 20 crore ($2.2 million) in a funding round led by Earth Fund, an environment- and sustainability-focused venture capital platform.

Investors Earth Fund
FinTech
FundingDebt

Fibe

In August last year, Fibe also raised Rs 250 crore in debt for its lending arm, EarlySalary, from a group of investors including AK Capital Finance.

Investors AK Capital Finance
Consumer lending
M&AMerger · Completed

Fincontrol acquires Osfin

At the end of August 2025, the two supervisory organisations (AO) for asset managers and trustees Fincontrol and Osfin announced that they would merge to join Osfincontrol.

FinTech companies in Maharashtra, by revenue

Browse fintech companies in Maharashtra 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 883 fintech companies in 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

Price watchlist for bullion trading

Brokers and dealers
₹11,894.90 crFY 2024-25
+189%2024–2025
—Not available
19 yr2007
0none in 3 months

Online platform for investing in high yield bonds

Investment tech
₹9,062.92 crFY 2024-25
+133%2024–2025
—Not available
5 yr2021
0none in 3 months

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

Provider of a digital platform for buying, selling, and storing 24K gold

Investment tech
₹6,867.10 crFY 2024-25
Not reported
63+10% 12 mo to Sep 2024recorded Sep 2024
9 yr2017
3postings · 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

Precious metals investment platform for individuals

Investment tech
₹4,973.88 crFY 2024-25
+38%2024–2025
—Not available
3 yr2023
0none in 3 months

App-based brokerage stock trading platform

Investment tech
₹5,152.23 crFY 2025-26
-2%2025–2026
11,842+40% 12 mo to Sep 2024LinkedIn · Jul 2026
30 yr1996
17postings · last posted Sep 2026

App based wealth management solution

Investment tech
₹4,279.79 crFY 2023-24
+42%2023–2024
—Not available
39 yr1987
0none in 3 months

Integrated platform for wealth management and financial advisory

Investment tech
₹4,169.31 crFY 2024-25
+32%2024–2025
2,949+21% 12 mo to Aug 2024recorded Aug 2024
4 yr2022
0none in 3 months

Brokerage-based stock trading platform

Investment tech
₹3,915.00 crFY 2023-24
Not reported
7,959-94% 12 mo to Sep 2024LinkedIn · Jul 2026
32 yr1994
0none in 3 months · last posted Jun 2026

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 an online payment gateway platform

Payments
₹2,446.19 crFY 2023-24
-12%2023–2024
788-1% 12 mo to Sep 2024LinkedIn · Jul 2026
26 yr2000
0none in 3 months

Online trading platform for equities and multiple assets

Investment tech
₹2,329.01 crFY 2024-25
+29%2024–2025
10,803+16% 12 mo to Aug 2024recorded Aug 2024
20 yr2006
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

App-based stock investment and research platform

Investment tech
₹2,231.29 crFY 2023-24
Not reported
1,172+9% 12 mo to Sep 2024recorded Sep 2024
31 yr1995
1postings · last posted Jul 2026

Payment processing solutions for merchants

Payments
₹2,236.45 crFY 2024-25
+47%2024–2025
999+31% 12 mo to Aug 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Provider of metal credit cards with a mobile application interface

Payments
₹1,908.51 crFY 2024-25
+30%2024–2025
997+24% 12 mo to Sep 2024recorded Sep 2024
7 yr2019
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 technology solutions and services for banking and financial sectors

Banking tech
₹1,864.43 crFY 2024-25
+25%2024–2025
6,198-10% 12 mo to Sep 2024LinkedIn · Jul 2026
20 yr2006
0none in 3 months

Alternative investment platform for silver & gold

Investment tech
₹1,800.13 crFY 2024-25
+698%2024–2025
96-52% 12 mo to Sep 2024recorded Sep 2024
14 yr2012
0none in 3 months

Online platform providing public companies information

Investment tech
₹1,714.15 crFY 2024-25
+13%2024–2025
235+8% 12 mo to Sep 2024recorded Sep 2024
30 yr1996
0none in 3 months

AI-based platform for investments in stocks, mutual funds, commodities, and equity

Investment tech
₹1,657.73 crFY 2024-25
+45%2024–2025
5,603+10% 12 mo to Jul 2024LinkedIn · Jul 2026
21 yr2005
0none in 3 months · last posted May 2026

Provider of end-to-end payment processing solutions for merchants and businesses

Payments
₹1,508.77 crFY 2023-24
Not reported
3,197-15% 12 mo to Mar 2024LinkedIn · Jul 2026
24 yr2002
0none in 3 months

Provider of payment solutions, communication services, and IoT-enabled RFID technologies

Payments
₹1,473.62 crFY 2024-25
Not reported
397-25% 12 mo to Nov 2018LinkedIn · Jul 2026
33 yr1993
0none in 3 months

Provider of B2B payment automation and supply chain finance solutions

Finance & accounting tech
₹1,344.01 crFY 2023-24
Not reported
87-4% 12 mo to Aug 2024LinkedIn · Jul 2026
20 yr2006
0none in 3 months · last posted Mar 2023
50 of 2,586 companies shown here · the full list is on Radar
Fliar Radar

Explore all 2,586 fintech companies in Maharashtra on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open fintech in Maharashtra on Radar
  • Every company, not just 50All 2,586 fintech companies in Maharashtra, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore fintech companies in Maharashtra by what you are looking for

Browse top fintech companies in Maharashtra, from payment gateways and digital lenders to trading platforms and insurtech. Find fintech startups in Maharashtra, listed fintech companies and firms that are hiring.

9 ways to explore fintech in Maharashtra

Payment companies & gatewaysDigital lending & loan platformsInvesting, trading & wealth platformsBanking technology & accounting softwareInsurtech & insurance platformsCryptocurrency & blockchain companies

Payment companies & gateways

Online payment gateways, merchant payment processors and business payment platforms.

  1. BillDesk

    Provider of an online payment gateway platform

    Payments
    See in list
  2. SBI Payment Services

    Payment processing solutions for merchants

    Payments
    See in list
  3. OneCard

    Provider of metal credit cards with a mobile application interface

    Payments
    See in list
  4. Fino Paytech

    Provider of technology solutions and services for banking and financial sectors

    Banking tech
    See in list
  5. Seshaasai

    Provider of payment solutions, communication services, and IoT-enabled RFID technologies

    Payments
    See in list

Digital lending & loan platforms

Online lenders, NBFCs and platforms that offer personal, business and consumer loans.

  1. SMFG India Credit

    Provider of lending solutions for consumers and enterprises

    Alternative lending
    See in list
  2. TransUnion CIBIL

    Provider of credit scores datasets

    Data as a service
    See in list
  3. InCred

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

    Alternative lending
    See in list
  4. Kissht

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

    Alternative lending
    See in list
  5. Branch

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

    Alternative lending
    See in list

Investing, trading & wealth platforms

Online trading platforms, brokers, wealth management and research platforms for investors.

  1. Sanghavi Bullion

    Price watchlist for bullion trading

    Brokers and dealers
    See in list
  2. 24Carat Capital Markets

    Online platform for investing in high yield bonds

    Investment tech
    See in list
  3. Angel One

    App-based brokerage stock trading platform

    Investment tech
    See in list
  4. Nuvama

    Integrated platform for wealth management and financial advisory

    Investment tech
    See in list
  5. SBICAP

    Online trading platform for equities and multiple assets

    Investment tech
    See in list

Banking technology & accounting software

Software and services for banks, finance teams, accounting, tax filing and expense management.

  1. Fino Paytech

    Provider of technology solutions and services for banking and financial sectors

    Banking tech
    See in list
  2. Zaggle

    Platform designed to streamline business spends, payments, and rewards through automated and innovative workflows

    Hrtech
    See in list
  3. Aurionpro

    Provider of loan and cash management solutions for banks and financial institutions

    Banking tech
    See in list
  4. NSDL Payments Bank

    Platform offering digital banking solutions for consumers

    Payments
    See in list
  5. IFTAS

    Provider of IT services for banking and financial institutions

    Banking tech
    Website

Insurtech & insurance platforms

Insurance comparison sites, digital insurers and software for insurance distribution.

  1. Turtlemint

    Provider of platform for comparing and purchasing insurance, loans, and funds

    Internet first insurance platforms
    See in list
  2. PolicyBoss

    Online platform for insurance comparison

    Internet first insurance platforms
    Website
  3. Policyworld

    Platform offering insurance products and services

    Internet first insurance platforms
    Website
  4. CreditWise Capital

    Provider of loans and vehicle-related services via digital platforms

    Insurance it
    Website
  5. QuickInsure

    Provider of platform to compare and buy insurance policies online

    Auto e-commerce & content
    Website

Cryptocurrency & blockchain companies

Crypto exchanges, NFT platforms and decentralised finance businesses.

  1. Token Runway

    Online NFT collectibles based on celeberities

    Investment tech
    Website
  2. KoinKnight

    Crypto arbitrage search engine and trading platform

    Cryptocurrencies
    Website
  3. Trustless Capital

    Decentralized financial solutions for crypto & fiat currencies

    Cryptocurrencies
    Website
  4. MintingM

    Data-driven platform crypto-based solution

    Cryptocurrencies
    Website
  5. Polynomial

    Online platform offering DeFi platforms to enable trading in crypto futures and options

    Cryptocurrencies
    Website

Regtech, KYC & compliance software

Compliance, identity verification and risk management platforms for financial institutions.

  1. EzeeTask

    Compliance management platform for financial institutions

    Regtech
    See in list
  2. CVL

    Provider of KYC services

    Regtech
    Website
  3. Idfy

    Provider of a platform for identity verification and risk management

    Grc software
    Website
  4. TrackWizz

    Platform providing KYC, AML, and fraud prevention solutions for financial institutions

    Regtech
    Website
  5. Zoop

    Identity verification platform

    Regtech
    Website

Fintech startups in Maharashtra

Newer fintech companies founded in recent years.

  1. 24Carat Capital Markets

    Online platform for investing in high yield bonds

    Investment tech
    See in list
  2. Raise

    Developer of financial service products and infrastructure for Indian residents

    Investment tech
    See in list
  3. InvestValue

    InvestValue website

    Investment tech
    See in list
  4. BeyondIRR

    Provider of tools for financial advisors to acquire and retain clients

    Investment tech
    Website
  5. AP Money

    Agent-enabled payment solution for consumers and businesses

    Payments
    Website
639 companies in Maharashtra

Fintech companies hiring in Maharashtra

Fintech employers with open jobs right now.

  1. SMFG India Credit

    Provider of lending solutions for consumers and enterprises

    Alternative lending
    See in list
  2. SafeGold

    Provider of a digital platform for buying, selling, and storing 24K gold

    Investment tech
    See in list
  3. Angel One

    App-based brokerage stock trading platform

    Investment tech
    See in list
  4. IIFL Securities

    App-based stock investment and research platform

    Investment tech
    See in list
  5. InCred

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

    Alternative lending
    See in list
48 companies in Maharashtra
Mobile reach

Top 10 fintech apps from Maharashtra

The most-installed Android apps published by fintech companies headquartered in Maharashtra — 502.1M installs between them. 484 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Angel One: Stocks, Mutual Fund

by Angel One

Installs111.3M
Rating4.451.8M ratings
Last updatedMay 2026
View on Google Play ↗
Angel One: Stocks, Mutual Fund screenshot 1Angel One: Stocks, Mutual Fund screenshot 2Angel One: Stocks, Mutual Fund screenshot 3Angel One: Stocks, Mutual Fund screenshot 4Angel One: Stocks, Mutual Fund screenshot 5Angel One: Stocks, Mutual Fund screenshot 6
2

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 3Dhani: UPI, Cards & Bills screenshot 4Dhani: UPI, Cards & Bills screenshot 5Dhani: UPI, Cards & Bills screenshot 6
3

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
4

Upstox Stocks IPO Mutual Funds

by Upstox

Installs46.4M
Rating4.45486K ratings
Installs, year on year+31%
Last updatedJun 2026
View on Google Play ↗
Upstox Stocks IPO Mutual Funds screenshot 1Upstox Stocks IPO Mutual Funds screenshot 2Upstox Stocks IPO Mutual Funds screenshot 3Upstox Stocks IPO Mutual Funds screenshot 4Upstox Stocks IPO Mutual Funds screenshot 5Upstox Stocks IPO Mutual Funds screenshot 6
5

OneScore: Credit Score App

by OneScore

Installs44.3M
Rating4.442.2M ratings
Installs, year on year+26%
Last updatedMay 2026
View on Google Play ↗
OneScore: Credit Score App screenshot 1OneScore: Credit Score App screenshot 2OneScore: Credit Score App screenshot 3OneScore: Credit Score App screenshot 4OneScore: Credit Score App screenshot 5OneScore: Credit Score App screenshot 6
6

Bajaj Markets: Loan & Finance

by Bajaj Markets

Installs37.1M
Rating4.0224K ratings
Installs, year on year+38%
Last updatedJun 2026
View on Google Play ↗
Bajaj Markets: Loan & Finance screenshot 1Bajaj Markets: Loan & Finance screenshot 2Bajaj Markets: Loan & Finance screenshot 3Bajaj Markets: Loan & Finance screenshot 4Bajaj Markets: Loan & Finance screenshot 5Bajaj Markets: Loan & Finance screenshot 6
7

CoinDCX: Bitcoin Crypto App

by CoinDCX

Installs32.5M
Rating4.44419K ratings
Last updatedJun 2026
View on Google Play ↗
CoinDCX: Bitcoin Crypto App screenshot 1CoinDCX: Bitcoin Crypto App screenshot 2CoinDCX: Bitcoin Crypto App screenshot 3CoinDCX: Bitcoin Crypto App screenshot 4CoinDCX: Bitcoin Crypto App screenshot 5CoinDCX: Bitcoin Crypto App screenshot 6
8

OneCard: Credit Card & UPI

by OneCard

Installs32.3M
Rating4.61611K ratings
Installs, year on year+24%
Last updatedJun 2026
View on Google Play ↗
OneCard: Credit Card & UPI screenshot 1OneCard: Credit Card & UPI screenshot 2OneCard: Credit Card & UPI screenshot 3OneCard: Credit Card & UPI screenshot 4OneCard: Credit Card & UPI screenshot 5OneCard: Credit Card & UPI screenshot 6
9

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
10

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
The business behind the activity

FinTech financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 784 fintech companies in Maharashtra for FY24-25 — 1,001 of the 2,586 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 40% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹95,633.07 cr

784 companies filing accounts

combined net profit₹4,566.98 cr

4.8% aggregate margin

are profitable56%

438 of 784 companies

median revenue~₹3.8 cr

the typical company

median revenue growth+22%

into FY24-25

earned by the top five40%

revenue concentration

Six-year view

Combined revenue of filing companies

₹29,753.70 crFY19-20553 filers
₹25,056.61 crFY20-21615 filers
₹38,316.43 crFY21-22671 filers
₹50,517.94 crFY22-23753 filers
₹72,075.23 crFY23-24815 filers
₹95,633.07 crFY24-25784 filers

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

Like-for-like

The same 646 companies over three years

+118%
FY22-23₹40,086.96 cr₹1,991.75 cr net
FY23-24₹55,529.74 cr₹5,239.73 cr net
FY24-25₹87,441.48 cr₹4,557.93 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 cr26534% profitable
₹1–10 cr23754% profitable
₹10–100 cr18874% profitable
₹100–1,000 cr7882% profitable
Over ₹1,000 cr1688% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking227
0–20%127
20–50%129
50–100%95
Doubled+150

728 companies with accounts for both years; median growth +22%.

Profitability

Profit is concentrated at the top

438profitable
343loss-making
4.8%aggregate margin
0.7%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
InCred MoneyAlpha Fintech Private Limited+898%₹49.74 cr
Ruloans FinancialRULOANS FINANCIAL SERVICES PRIVATE LIMITED
ArthyaARTHYA WEALTH AND INVESTMENTS PRIVATE LIMITED+699%
Bullion IndiaGOLDELLA PRECIOUS METALS PRIVATE LIMITED+698%₹1,800.13 cr
UpstoxRKSV SECURITIES INDIA PRIVATE LIMITED
WealthTech, FintooinvestMIHIKA FINANCIAL SERVICES PRIVATE LIMITED+601%₹13.80 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
3ADeal3A CAPITAL SERVICES LIMITED79.5%
DocBoyzZAPFIN TEKNOLOGIES PRIVATE LIMITED72.9%
IndsecINDSEC SECURITIES AND FINANCE LTD₹37.38 cr
PM SecuritiesPANKAJ MANGALDAS SECURITIES PRIVATE LIMITED₹19.25 cr
Intellect Stock BrokingINTELLECT STOCK BROKING LIMITED60.7%₹44.16 cr
GreeksoftGREEKSOFT TECHNOLOGIES PRIVATE LIMITED51.2%₹109.50 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Investment tech284₹52,133.80 cr~₹3.6 cr63%5.6%
Payments87₹11,236.34 cr~₹4.9 cr53%0.6%
Alternative lending115₹5,242.99 cr~₹5.9 cr46%7.1%
Banking tech64₹4,540.72 cr~₹9.2 cr67%5.6%
Data as a service6₹2,418.23 cr~₹22.0 cr50%33.5%
Hrtech5₹1,332.03 cr~₹1.3 cr60%6.5%
Internet first insurance platforms21₹958.25 cr~₹6.2 cr48%-0.9%
Regtech14₹624.41 cr~₹9.7 cr71%28.2%
Leaders

Largest fintech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Sanghavi BullionSANGHAVI BULLION PRIVATE LIMITED₹11,894.90 cr₹20.62 cr0.2%+189%
24Carat Capital Markets24CARAT CAPITAL MARKETS PRIVATE LIMITED₹9,062.92 cr₹2.25 cr0.0%+133%
SafeGoldDIGITAL GOLD INDIA PRIVATE LIMITED₹6,795.25 cr−₹10.67 cr-0.2%+11%
AugmontAUGMONT GOLDTECH PRIVATE LIMITED₹5,568.76 cr₹24.03 cr0.4%+240%
Angel OneANGEL ONE LIMITED₹5,183.31 cr₹1,215.95 cr23.5%+22%
SPN GoldSPN GOLD & PRECIOUS METALS (INDIA) PRIVATE LIMITED₹4,973.88 cr₹97.00 lakh0.0%+38%
Aspect Bullion & RefineryASPECT BULLION REFINERY PRIVATE LIMITED₹4,899.88 cr₹4.53 cr
SBICAPSBICAP SECURITIES LIMITED₹2,329.01 cr₹592.34 cr25.4%+29%
TransUnion CIBILTRANSUNION CIBIL LIMITED₹2,306.28 cr₹802.19 cr34.8%+17%
SBI Payment ServicesSBI PAYMENT SERVICES PRIVATE LIMITED₹2,236.45 cr₹138.90 cr6.2%+47%
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

Fintech Industry Landscape of India

The financials above are one chapter. The full fintech landscape of Maharashtra 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 fintech landscape of Maharashtra
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

FinTech funding and M&A across India

4,557 recorded equity rounds have gone to 14,968 fintech companies in India — how much, at which stage, into which sub-sectors, from whom, and how Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months120

US$1.27bn

equity rounds, last 24 months412

US$3.27bn

raised over five yearsUS$19.15bn

2,304 rounds in India

M&A deals, Maharashtra95

last 24 months

Capital by year

Equity funding into fintech in India

amount rounds
$1.7bn2018319
$3.3bn2019387
$2.2bn2020384
$7.2bn2021621
$4.5bn2022610
$2.4bn2023371
$2.2bn2024362
$2.1bn2025276
$751m202664

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$7.17bn across 621 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$107.60m335 rounds · median US$123k
SeedUS$1.55bn1,218 rounds · median US$657k
Series AUS$3.10bn337 rounds · median US$5.00m
Series BUS$2.74bn173 rounds · median US$10.00m
Series CUS$3.58bn89 rounds · median US$30.00m
Series D+US$8.05bn149 rounds · median US$20.00m
Where the money went · five years

Most-funded sub-sectors

PaymentsUS$4.90bn273 rounds · 124 companies
Alternative lendingUS$4.87bn515 rounds · 228 companies
Investment techUS$2.37bn555 rounds · 256 companies
Banking techUS$1.21bn197 rounds · 106 companies
Internet first insurance platformsUS$1.06bn67 rounds · 32 companies
CryptocurrenciesUS$669.89m65 rounds · 46 companies
Auto e-commerce & contentUS$451.63m28 rounds · 10 companies
Corporate activity · last 24 months

M&A in Maharashtra

91Acquisition
4Merger

Most active acquirers

  1. Zaggle Prepaid Ocean Services23
  2. Veefin solutions10
  3. Experian6
  4. Raise financial services5
  5. Payu4

Most acquired or merged

  1. Mobileware technologies4
  2. Stratzy3
  3. MindGate Solutions3
  4. Manipalcigna health insurance3
  5. Dice2

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

Go deeper in the fintech landscape reports:

Fintech Industry Landscape of India

FinTech funding in Maharashtra

355 fintech companies in Maharashtra have recorded equity funding, US$7.04bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind fintech companies in Maharashtra. 1,446 of 2,586 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra fintech companies by sub-sector

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

Keep exploring fintech in India and nearby markets.

Coming soon