Company lists
The Mumbai edition · 2026

Investment techcompanies in Mumbai

Trading, wealth, research, regtech, alternative and more: the companies building investment tech in Mumbai, Maharashtra, with their founders, funding, team size and business models.

759 company profiles269 with reported revenue86 with recorded fundingSeptember 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent investment tech business events in Mumbai

Funding, M&A, contract wins and launches involving 936 investment tech companies in Mumbai, last 24 months: 22 M&A deals · 15 funding rounds · 8 launches · 1 Contract. 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

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

Dhan acquires Stratzy

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

Financial Services
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.

Funding

Finfinity

"Finfinity raised $2.4 million,"

Investors Na
Lending
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
M&AAcquisition · Completed

Franklin templeton acquires Benefit street partners

The move marks the final step in the integration of the two businesses, with BSP acquired by Franklin Templeton in 2019 and Alcentra in 2022.

Alternative Credit
FundingMajority growth / Private Equity Investment

Trustwell

Funding Details Company: Trustwell Raised: Undisclosed Round: Majority growth / Private Equity Investment Funding Date: January 2026 Lead Investor: TPG – The Rise Funds Additional…

Investors TPG – The Rise Funds
Supply Chain SaaS / Food Regulatory Compliance and Traceability
Funding

Dezerv

Premji Invest, Z47 (formerly Matrix Partners), and Elevation Capital were also active during the period, backing Dezerv’s $72 million fundraise across two rounds.

Investors Premji invest, Z47 (formerly Matrix Partners), Elevation capital
Wealthtech
M&AAcquisition

Arihant capital markets acquires Davangere Sugar Co. Ltd

Aristhant Capital Markets has bought shares of Davangere Sugar Co. Ltd via Bulk Deal on Friday.

M&AAcquisition · Announced

Raise Financial acquires Stratzy

Raise Financial, the parent of online stock trading platform Dhan, has fully acquired Stratzy, an algo-based investing and trading startup, in a cash-and-stock deal valued at $4-4.5…

Funding

Dezerv

Dezerv raised about Rs 350 crore (roughly $42 million) in September 2025 in a funding round led by Premji Invest and Accel.

Investors Premji invest, Accel
M&AAcquisition · Announced

Choice international acquires Fintoo

Additionally, the company has acquired Fintoo’s insurance distribution business, encompassing its client portfolio, team, IT systems, and supporting infrastructure.

Funding

Incred money

InCred Money, its digital-wealth platform, recently raised $30 million at a $250-million valuation.

Investors Na
M&AAcquisition · Announced

Bandhan mutual fund acquires Sobha Limited

Bandhan Mutual Fund, through its various schemes, has increased its stake in Sobha Limited to 5.0114% of the paid-up capital, acquiring additional equity shares of 0.0146% on September…

FundingUndisclosed

Incred money

Meanwhile, InCred Money secured $30 million from marquee investors including Ranjan Pai of Manipal Group.

Investors Ranjan Pai of Manipal Group
Wealthtech / investmenttech
M&AAcquisition · Announced

Blackrock acquires Franklin templeton

BlackRock’s acquisition of Franklin Templeton

LaunchManaged Options Strategies

Franklin templeton

Franklin Templeton, meanwhile, has added managed options strategies to its Canvas custom indexing platform.

Options
M&AAcquisition · Completed

Bank of america acquires Angel one

BofA bought over 15.19 lakh shares worth Rs 348 crore through its French subsidiary BofA Securities Europe SA while in the former case, BofA acquired Angel One shares at a price of Rs…

LaunchNext-generation Wealth-Tech platform

Equirus wealth

Equirus Wealth announced the launch of its next-generation Wealth-Tech platform, which combines portfolio insights, real-time analytics and advisory tools in one place.

Platform
M&AAcquisition · Announced

Aurionpro Solutions acquires Fintra

the technology solutions provider announced the acquisition of Fintra Software Pvt Ltd to enhance its transaction banking offerings.

Technology Solutions Provider
M&AAcquisition · Announced

Bandhan mutual fund acquires Sterlite Technologies

Bandhan Mutual Fund purchased 60.12 lakh shares or a 1.23 percent stake in Sterlite Technologies at an average price of Rs. 81.

FundingSeed

Kleio

Kleio has secured €3 million in Seed funding.

Investors Serena, Daphni, Houman Behzadi, Julien Bellanger
Conversational AI
M&AAcquisition

Lockton acquires Arihant capital

Lockton’s acquisition of the IRDAI License and the Arihant Capital acquisition mark significant milestones.

Insurance
M&AAcquisition · Completed

Microtek medical holdings acquires Samco

Microtek Medical Holdings (Alpharetta, Georgia), a manufacturer of infection control products, fluid control products and safety products to healthcare professionals, has acquired Samco…

Medical Devices
FundingLatest funding round

Spare8

Spare8, a Mumbai‑based B2B2C fintech startup, has raised an undisclosed amount in its latest funding round. The round was led by Param Agrawal, along with Rajiv Shastri, the former CEO…

Investors Param Agrawal, Rajiv Shastri
Fintech
Funding

Wealthy Nivesh

Wealthy Nivesh, a wealth management firm that secured $1 million.

Wealth Management
FundingEarly-stage funding

Wealthy Nivesh

Wealthy Nivesh, a wealth management startup, has secured $1 million (Rs 8.5 crore) in fresh funding round.

Investors Na
Wealth Management
LaunchTBT Engine

Upstox

To help traders successfully place limit orders, improve order execution success, reduce losses and trade at par with the pros - Upstox is launching the TBT Engine.

Investment tech companies in Mumbai, by revenue

Browse investment tech 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 269 investment tech 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

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 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

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

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

Online trading platform for multiple assets

Investment tech
₹1,173.48 crFY 2021-22
Not reported
1,241+18% 12 mo to Dec 2023recorded Dec 2023
32 yr1994
—No postings tracked

Broker-based online trading and investment platform

Investment tech
₹1,208.23 crFY 2024-25
+9%2024–2025
2,131LinkedIn · Jul 2026
17 yr2009
8postings · last posted Sep 2026

Developer of financial service products and infrastructure for Indian residents

Investment tech
₹904.46 crFY 2024-25
+138%2024–2025
353+2% vs previous recordLinkedIn · Jul 2026
5 yr2021
0none in 3 months

InvestValue website

Investment tech
₹807.52 crFY 2024-25
+436%2024–2025
81LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Wealth management and investment advisory platform

Investment tech
₹529.42 crFY 2024-25
+699%2024–2025
9LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Provider of algorithmic trading platform for strategy development and deployment

Investment tech
₹356.33 crFY 2024-25
+50%2024–2025
28LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Financial planning and wealth management firm

Investment tech
₹350.92 crFY 2024-25
+72%2024–2025
324-8% 12 mo to May 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Provider of tools for financial advisors to acquire and retain clients

Investment tech
₹307.22 crFY 2024-25
+1064%2024–2025
40LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Provider of online investment platform for stocks, mutual funds, and derivatives

Investment tech
₹273.29 crFY 2024-25
+6%2024–2025
367+11% 12 mo to Jun 2024recorded Jun 2024
32 yr1994
0none in 3 months

Provider of various funds including equity, debt, hybrid, and index funds

Investment tech
₹240.74 crFY 2023-24
+489%2023–2024
508+8% 12 mo to Sep 2024recorded Sep 2024
30 yr1996
1postings · last posted Sep 2026

Online trading platform and broker

Investment tech
₹235.61 crFY 2023-24
Not reported
292recorded Mar 2023
34 yr1992
—No postings tracked

AI-powered next gen technology and solutions for creating digital markets

Investment tech
₹236.09 crFY 2024-25
-54%2024–2025
672-30% 12 mo to Sep 2024recorded Sep 2024
38 yr1988
0none in 3 months
50 of 759 companies shown here · the full list is on Radar
Fliar Radar

Explore all 759 investment tech companies in Mumbai on Radar

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

Open investment tech in Mumbai on Radar
  • Every company, not just 50All 759 investment tech companies in Mumbai, 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 investment tech companies in Mumbai by what you are looking for

Browse investment tech companies in Mumbai, from online trading platforms and wealth management apps to equity research and regtech firms. You can also look at investment tech startups in Mumbai or top investment tech companies that are hiring.

9 ways to explore investment tech in Mumbai

Online trading & broking platformsWealth management & financial planning platformsEquity research & financial data companiesRegtech, risk & compliance softwareAlternative investment, gold & lending platformsNFT & digital asset companies

Online trading & broking platforms

Stock, forex and commodity trading platforms and brokers based in Mumbai.

  1. Sanghavi Bullion

    Price watchlist for bullion trading

    Brokers and dealers
    See in list
  2. Angel One

    App-based brokerage stock trading platform

    Investment tech
    See in list
  3. SBICAP

    Online trading platform for equities and multiple assets

    Investment tech
    See in list
  4. Axis Direct

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

    Investment tech
    See in list
  5. Upstox

    Broker-based online trading and investment platform

    Investment tech
    See in list

Wealth management & financial planning platforms

Online wealth managers, financial planners and advisors and mutual fund investing platforms.

  1. Nuvama

    Integrated platform for wealth management and financial advisory

    Investment tech
    See in list
  2. Arthya

    Wealth management and investment advisory platform

    Investment tech
    See in list
  3. InCred Wealth

    Financial planning and wealth management firm

    Investment tech
    See in list
  4. reliancesmartmoney.com

    Provider of online platform for trading stocks, mutual funds, and insurance

    Insurance distribution
    See in list
  5. Equirus Wealth

    Wealth management and portfolio management services provider

    Investment tech
    See in list

Equity research & financial data companies

Stock research, analytics, credit ratings and financial data providers.

  1. Bloomberg India

    Online platform providing public companies information

    Investment tech
    See in list
  2. InvestValue

    InvestValue website

    Investment tech
    See in list
  3. India Ratings and Research

    Credit rating and research agency offering financial data

    Alternative lending
    See in list
  4. Incred Equities

    Equity research and actionable recommendations for institutional clients

    Investment tech
    See in list
  5. AIM

    Developer of an AI-based data analytics platform for stocks

    Investment tech
    See in list

Regtech, risk & compliance software

Governance, risk and compliance software and regtech providers for financial institutions.

  1. Techexcel Software Solutions

    Software solutions for financial institutions

    Investment tech
    Website
  2. Riskpro

    Risk Management and risk consulting company

    Investment tech
    Website
  3. CARE Risk Solution

    Risk management and compliance solutions for industries

    Investment tech
    Website
  4. Optimum Financial Solutions

    Provider of technology solutions for the financial services and banking sectors

    Investment tech
    Website
  5. White Label E-Systems

    Enterprise treasury management software provider

    Banking tech
    Website

Alternative investment, gold & lending platforms

Platforms for investing in gold, bonds, crowdfunding and alternative lending.

  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. SafeGold

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

    Investment tech
    See in list
  4. Augmont

    Alternative investment platform for gold

    Investment tech
    See in list
  5. SPN Gold

    Precious metals investment platform for individuals

    Investment tech
    See in list

NFT & digital asset companies

NFT marketplaces and metaverse platforms.

  1. Token Runway

    Online NFT collectibles based on celeberities

    Investment tech
    Website
  2. MetAroha

    Metaverse-based real estate listing platform

    Real estate it
    Website
  3. Telperium

    Platform offering metaverse-built virtual world 3D experiences

    Investment tech
    Website
  4. HEFTY.art

    Provider of a platform that connects artists, influencers, and brands with art and NFTs

    Non fungible tokens
    Website
  5. Kemonomimi

    Provider of a NFT marketplace platform

    Non fungible tokens
    Website

Investment tech startups in Mumbai

Recently founded investment tech companies in Mumbai.

  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
    See in list
  5. Precize

    Digital investment platform

    Investment tech
    See in list
210 companies in Mumbai

Listed investment tech companies in Mumbai

Investment tech companies in Mumbai that are publicly listed.

  1. Angel One

    App-based brokerage stock trading platform

    Investment tech
    See in list
  2. Anand Rathi

    Online trading platform for multiple assets

    Investment tech
    See in list
  3. Arihant Capital

    Online trading platform and broker

    Investment tech
    See in list
  4. 63Moons

    AI-powered next gen technology and solutions for creating digital markets

    Investment tech
    See in list
  5. reliancesmartmoney.com

    Provider of online platform for trading stocks, mutual funds, and insurance

    Insurance distribution
    See in list
10 companies in Mumbai

Investment tech companies hiring in Mumbai

Investment tech companies in Mumbai with open roles.

  1. SafeGold

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

    Investment tech
    See in list
  2. Angel One

    App-based brokerage stock trading platform

    Investment tech
    See in list
  3. Axis Direct

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

    Investment tech
    See in list
  4. Upstox

    Broker-based online trading and investment platform

    Investment tech
    See in list
  5. DSP Mutual Fund

    Provider of various funds including equity, debt, hybrid, and index funds

    Investment tech
    See in list
25 companies in Mumbai
Mobile reach

Top 10 investment tech apps from Mumbai

The most-installed Android apps published by investment tech companies headquartered in Mumbai — 225.1M installs between them. 199 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

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
3

mStock: Demat & Stock Trading

by mStock

Installs18.7M
Rating3.5477K ratings
Installs, year on year+23%
Last updatedMay 2026
View on Google Play ↗
mStock: Demat & Stock Trading screenshot 1mStock: Demat & Stock Trading screenshot 2mStock: Demat & Stock Trading screenshot 3mStock: Demat & Stock Trading screenshot 4mStock: Demat & Stock Trading screenshot 5mStock: Demat & Stock Trading screenshot 6
4

Dhan: Share Market Trading App

by Raise

Installs15.2M
Rating3.9658K ratings
Installs, year on year+73%
Last updatedMay 2026
View on Google Play ↗
Dhan: Share Market Trading App screenshot 1Dhan: Share Market Trading App screenshot 2Dhan: Share Market Trading App screenshot 3Dhan: Share Market Trading App screenshot 4Dhan: Share Market Trading App screenshot 5Dhan: Share Market Trading App screenshot 6
5

HDFC SKY: Demat Stocks IPO MF

by HDFC SKY

Installs10.1M
Rating4.2740K ratings
Installs, year on year+27%
Last updatedMay 2026
View on Google Play ↗
HDFC SKY: Demat Stocks IPO MF screenshot 1HDFC SKY: Demat Stocks IPO MF screenshot 2HDFC SKY: Demat Stocks IPO MF screenshot 3HDFC SKY: Demat Stocks IPO MF screenshot 4HDFC SKY: Demat Stocks IPO MF screenshot 5HDFC SKY: Demat Stocks IPO MF screenshot 6
6

SBI Securities: Stocks & SIP

by SBICAP

Installs7.7M
Rating4.2255K ratings
Installs, year on year+40%
Last updatedMay 2026
View on Google Play ↗
SBI Securities: Stocks & SIP screenshot 1SBI Securities: Stocks & SIP screenshot 2SBI Securities: Stocks & SIP screenshot 3SBI Securities: Stocks & SIP screenshot 4SBI Securities: Stocks & SIP screenshot 5SBI Securities: Stocks & SIP screenshot 6
7

Market Pulse: Traders Superapp

by Market Pulse

Installs4.5M
Rating4.6190K ratings
Last updatedMar 2026
View on Google Play ↗
Market Pulse: Traders Superapp screenshot 1Market Pulse: Traders Superapp screenshot 2Market Pulse: Traders Superapp screenshot 3Market Pulse: Traders Superapp screenshot 4Market Pulse: Traders Superapp screenshot 5Market Pulse: Traders Superapp screenshot 6
8

Research 360: Market Research

by Research 360

Installs4.0M
Rating4.2425K ratings
Installs, year on year+40%
Last updatedJun 2026
View on Google Play ↗
Research 360: Market Research screenshot 1Research 360: Market Research screenshot 2Research 360: Market Research screenshot 3Research 360: Market Research screenshot 4Research 360: Market Research screenshot 5Research 360: Market Research screenshot 6
9

Kotak Cherry: MFs, SIPs

by Kotak Cherry

Installs3.9M
Rating4.951K ratings
Last updatedMay 2026
View on Google Play ↗
Kotak Cherry: MFs, SIPs screenshot 1Kotak Cherry: MFs, SIPs screenshot 2Kotak Cherry: MFs, SIPs screenshot 3Kotak Cherry: MFs, SIPs screenshot 4Kotak Cherry: MFs, SIPs screenshot 5Kotak Cherry: MFs, SIPs screenshot 6
10

Teji Mandi:Investing & Trading

by Teji Mandi

Installs3.4M
Rating3.8916K ratings
Installs, year on year+30%
Last updatedJun 2026
View on Google Play ↗
Teji Mandi:Investing & Trading screenshot 1Teji Mandi:Investing & Trading screenshot 2Teji Mandi:Investing & Trading screenshot 3Teji Mandi:Investing & Trading screenshot 4Teji Mandi:Investing & Trading screenshot 5Teji Mandi:Investing & Trading screenshot 6
The business behind the activity

Investment tech financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 245 investment tech companies in Mumbai, Maharashtra for FY24-25 — 309 of the 759 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 60% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹63,842.69 cr

245 companies filing accounts

combined net profit₹2,970.55 cr

4.7% aggregate margin

are profitable60%

146 of 245 companies

median revenue~₹4.4 cr

the typical company

median revenue growth+22%

into FY24-25

earned by the top five60%

revenue concentration

Six-year view

Combined revenue of filing companies

₹8,760.70 crFY19-20164 filers
₹9,993.23 crFY20-21177 filers
₹17,768.38 crFY21-22199 filers
₹25,704.78 crFY22-23235 filers
₹40,153.40 crFY23-24254 filers
₹63,842.69 crFY24-25245 filers

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

Like-for-like

The same 203 companies over three years

+161%
FY22-23₹22,430.50 cr₹2,276.79 cr net
FY23-24₹32,104.78 cr₹4,980.82 cr net
FY24-25₹58,495.00 cr₹3,001.30 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 cr6529% profitable
₹1–10 cr8956% profitable
₹10–100 cr6182% profitable
₹100–1,000 cr1989% profitable
Over ₹1,000 cr1191% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking65
0–20%47
20–50%40
50–100%26
Doubled+49

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

Profitability

Profit is concentrated at the top

146profitable
99loss-making
4.7%aggregate margin
1.4%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
ArthyaARTHYA WEALTH AND INVESTMENTS PRIVATE LIMITED+699%₹529.42 cr
Bullion IndiaGOLDELLA PRECIOUS METALS PRIVATE LIMITED+698%₹1,800.13 cr
UpstoxRKSV SECURITIES INDIA PRIVATE LIMITED+638%₹529.48 cr
WealthTech, FintooinvestMIHIKA FINANCIAL SERVICES PRIVATE LIMITED+601%₹13.80 cr
InvestValueINVESTVALUE FINTECH PRIVATE LIMITED+436%₹807.52 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
3ADeal3A CAPITAL SERVICES LIMITED
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 LIMITED
Omkara CapitalOMKARA CAPITAL PRIVATE LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Investment tech218₹51,354.32 cr~₹4.5 cr60%5.6%
Leaders

Largest investment tech 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%
Bullion IndiaGOLDELLA PRECIOUS METALS PRIVATE LIMITED₹1,800.13 cr₹2.09 cr0.1%+698%
Bloomberg IndiaBLOOMBERG DATA SERVICES (INDIA) PRIVATE LIMITED₹1,714.15 cr₹52.84 cr3.1%+13%
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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 investment tech 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 investment tech 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

Investment tech funding and M&A across India

1,045 recorded equity rounds have gone to 4,828 investment tech 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 months39

US$386.95m

equity rounds, last 24 months127

US$880.43m

raised over five yearsUS$2.66bn

624 rounds in India

M&A deals, Mumbai22

last 24 months

Capital by year

Equity funding into investment tech in India

amount rounds
$137m201857
$197m201961
$529m202073
$897m2021158
$577m2022173
$116m202396
$263m202492
$719m202588
$86m202617

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$896.53m across 158 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$44.05m121 rounds · median US$124k
SeedUS$425.51m383 rounds · median US$499k
Series AUS$543.86m68 rounds · median US$4.01m
Series BUS$515.00m28 rounds · median US$14.50m
Series CUS$344.30m9 rounds · median US$27.36m
Series D+US$784.38m15 rounds · median US$20.00m
Where the money went · five years

Most-funded sub-sectors

Investment techUS$2.37bn555 rounds · 256 companies
Sports techUS$123.50m3 rounds · 2 companies
Consumer and sme loansUS$70.00m2 rounds · 1 companies
Data as a serviceUS$23.60m11 rounds · 8 companies
Banking techUS$21.05m6 rounds · 2 companies
Pc & console gamingUS$16.00m3 rounds · 3 companies
Music techUS$5.50m1 rounds · 1 companies
Corporate activity · last 24 months

M&A in Mumbai

22Acquisition

Most active acquirers

  1. Raise financial services5
  2. Dhan3
  3. Franklin templeton3
  4. Bandhan mutual fund2
  5. Arihant capital markets1

Most acquired or merged

  1. Stratzy3
  2. Filter Coffee2
  3. GreenLife Insurance Broking Private Limited1
  4. GreenLife Insurance Broking1
  5. GreenLife Insurance Booking Private Limited (GIBL)1

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

Investment tech funding in Mumbai

86 investment tech companies in Mumbai have recorded equity funding, US$703.09m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind investment tech companies in Mumbai. 453 of 759 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai investment tech companies by sub-sector

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

Keep exploring investment tech in India and nearby markets.

Coming soon