Industry landscapes
Get Pro
Industry report

Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE KOLKATA EDITION 2026

Kolkata’s
financial services industry,
in focus.

The companies, capital and talent shaping financial services in Kolkata. Find the leaders. Understand the segments. See where the activity is.

Explore in Radar Read the key signals
Snapshot: Funding in USD
Illustrated cover for Financial Services Industry Landscape of Kolkata
IN
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

Financial Services illustration
Companies tracked 366Financial Services ecosystem in Kolkata Disclosed funding $799.76M12 companies · all recorded rounds Companies hiring 25With open roles at the snapshot Tracked open roles 383 employers posted in the preceding 30 days
MEET THE COMPANIES

Explore Kolkata’s financial services leaders

24 featured companies from the funding, hiring, revenue and team-size leaderboards.

Expand panel +
Explore the full landscape
Financial Services company highlights in Kolkata, snapshot 3 September 2026
Company
Bandhanbandhanmf.com$264.77M—4—
Bandhan Bankbandhanbank.com$259.27M4 roles82,070—
Arohanarohan.in$221.83M—10,738—
Jagaran Microfinjagaranmf.com$21.57M—1,336$6.94MFYFY2025 filing
ASAI Indiaasaindia.in$12.5M—1,253—
VFS Capitalvfscapital.in$11.7M—1,846$20.2MFYFY2025 filing
Janakalyanjanakalyan.net$2.98M—386—
Ideal Insurance Brokersidealinsurance.in$1.96M2 roles196$8.09MFYFY2025 filing
ATN Internationalatninternational.in—3 roles8—
SMIFSsmifs.com—3 roles75—
WeGrowwegrowindia.com—3 roles191$1.43MFYFY2025 filing
Beema1beema1.com—2 roles——
Craving Alphacravingalpha.com—2 roles——
Eureka Stock and Share Broking Serviceseurekasec.com—2 roles—Financial figure available in RadarView in Radar
Achiieversachiieversfinance.com————
Arnold Holdings Limitedarnoldholdings.in——19$20.9MFYFY2025 filing
Dar Credit & Capitaldarcredit.com——159$4.22MFYFY2025 filing
Dhunseri Investmentsdhunseriinvestments.com——7Financial figure available in RadarView in Radar
East India Securitieseisec.com——2$43.95MFYFY2025 filing
Easun Capital Marketseasuncapitalmarkets.com——3Financial figure available in RadarView in Radar
Heritage Health Insuranceheritagehealthtpa.com————
Khaitankhaitanco.com——1,750Financial figure available in RadarView in Radar
Lohia Securitieslohiasecurities.com——44Financial figure available in RadarView in Radar
UCO Bankucobank.com——21,456Financial figure available in RadarView in Radar
24 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only

Explore the live startup set in Radar

No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.

Explore classified startups in Radar ↗
THE KEY SIGNALS

Financial Services industry KPIs in Kolkata

A few useful ratios bring the size of this ecosystem into perspective.

3 September 2026
Hiring participation6.8%

25 of 366 tracked companies have open roles.

Funding participation3.6%

13 of 366 tracked companies have a recorded round.

Top 3 funding share93.3%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$3.09M

Midpoint of 26 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 93.3% of disclosed capital, while 96.4% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How Kolkata financial services has grown

Recorded company formation and disclosed funding across the complete annual series shown.

Expand panel +
2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

Kolkata financial services
$0$25.41M$50.82M$76.23M$101.64M2016: $10.54M20162017: $26.24M20172018: $24.95M20182019: $26.94M20192020: $020202021: $24.79M20212022: $89.15M20222023: $24M20232024: $963.78K20242025: $02025
View the numbers
Annual financial services funding and company formation in Kolkata
YearFunding (USD)FoundedRaising
2016$10.54M171
2017$26.24M102
2018$24.95M136
2019$26.94M65
2020$070
2021$24.79M93
2022$89.15M161
2023$24M81
2024$963.78K121
2025$000
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Bandhan33.1%
  • Bandhan Bank32.4%
  • Arohan27.7%
  • Other companies6.7%

Funding by stage

30 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel14 46.7%
Series A–B3 10.0%
Series C+ / PE4 13.3%
Grants, debt & other9 30.0%

Recent recorded rounds

Latest recorded rounds · USD
0 rounds

Swipe or scroll horizontally to browse.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

Series B01/2017
Arohanarohan.in$24.23M

Backed by Maj Invest and Swaminathan Aiyar and others.

Series C02/2021
Arohanarohan.in$23.02M

Backed by L N Bangur Group and ASK Group and others.

Series B11/2014
Arohanarohan.in$9.77M

Backed by Tano Capital and Madhu Rama Murthy and others.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

Annual accounts for reporting companies linked to this landscape, on like-for-like currency and reporting bases.

Expand panel +
₹ crore · standalone

Display conversions use the dated reference rates above. Where a verified rate is unavailable, figures retain their source currency. Each reporting cohort keeps its currency and accounting basis separate.

FY2025 · annual statements grouped by reported fiscal year; exact entity periods remain on preview rows · 77 reporting entities from 123 eligible matches.

Revenue in covered accounts₹8,128.2 crore

Sum of reporting-entity revenue; not Kolkata market sales.

Net profit / loss₹968.0 crore

Combined result for the same cohort.

Aggregate net margin+11.9%

Combined net income ÷ combined revenue.

Median company revenue₹9.4 crore

The middle covered reporting entity.

Profitable entities+87.0%

67 of 77 covered entities.

Top-five concentration+63.1%

Share of covered revenue from the five largest entities.

Annual account trend

Reported cohort totals by year; coverage is stated for every period.

Bar height shows revenue. Changes in coverage can affect totals.

Profitability has two perspectives

FY2025 · 77 reporting entities

Open the company accounts

Up to eight fixed company previews show financial amounts. Search and sort the wider company list, then continue in Radar.

77 reporting entities
Continue your financial research in Radar

Explore full company accounts and filings.

View financials in Radar ↗
KOLKATA · INDUSTRY COHORTS

How does financial services compare?

Each pair uses the same year, currency and reporting basis. Cohort overlap is disclosed.

IndustryCovered / eligibleRevenue totalMedian revenueNet profit / lossAggregate marginProfitable shareOverlap

Available-account cohorts are not estimates of whole industries. Overlapping entities can occur in more than one cohort; do not add cohort totals.

Coverage, calculations & financial sources

Filed annual accounts for exact designated national identifiers. Every aggregate and peer pair uses one fiscal year, source currency and reporting basis; periods, coverage and overlap are explicit; 2026 partials are excluded.

The same up to eight reporting entities remain open across years, filters and sorts. Other company figures are available in Radar.

Source currencies and accounting bases stay separate. Missing accounts are excluded rather than treated as zero. Exact reporting periods appear on company previews. Annual totals can change with coverage and do not measure growth of a fixed company cohort.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the Kolkata companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Most-installed apps

38 of these companies (10.4%) publish at least one Android app — 60 apps in all, carrying 26.9M installs between them.

AppInstallsRatingStore category
UCO mPassbookUCO Bank11.2M4.3Finance
mBandhanBandhan Bank8.8M3.7Finance
UCOPAY+UCO Bank2.1M3.7Finance
BHIM UCO UPIUCO Bank1.4M4.4Finance
UCOSECUREUCO Bank1.4M3.6Finance
apnaArohanArohan775.2K—Finance
UCO Corporate mBankingUCO Bank480.7K—Finance
UCO mPassbook SingaporeUCO Bank312.9K—Finance
Shriram Netpro Mobile TradingShriram Insight135.4K3.8Finance
UCO mPassbook Hong KongUCO Bank117.3K—Finance

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q1–2026Q2).

SegmentAppsInstallsLeading appRelease trend
Banks825.8MUCO mPassbook 11.2M
Microfinance3782.9KapnaArohan 775.2K
Brokers And Dealers13185.2KShriram Netpro Mobile Trading 135.4K
Services For Health Insurers364.9KHeritage Health Member App 57.6K
Investment Research Services547.7KInfinity by Eureka 17.8K
Asset Management1534.4KPSMART Mobile Trading 12.2K
Services For Investment Industry820.6KSMIFS ARTH: Stocks, MF, IPO 6.5K
Investment Tech411.4KDayco 5.8K

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2023Q1: 12023Q1: 02023Q12023Q2: 22023Q2: 22023Q22023Q4: 22023Q4: 02023Q42024Q3: 12024Q3: 12024Q32024Q4: 22024Q4: 12024Q42025Q1: 32025Q1: 22025Q12025Q2: 12025Q2: 22025Q22025Q3: 32025Q3: 52025Q32025Q4: 22025Q4: 112025Q4

Darker bars are new releases, lighter bars apps updated. 45 of 60 apps carry a release date. The series ends at 2025Q4, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The Kolkata financial services market map

Explore the segments behind the headline numbers.

Expand panel +

Where companies are building

Rank segments by scale, hiring or disclosed funding.

Segment data unavailable0

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Segment data unavailable

The largest measured segment in this report snapshot.

0companies
0%have hiring activity

0 companies hiring · $0 disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

Expand panel +
Recent corporate headlines 8 dated reports
Funding roundsmiflindia.com ↗

Recently, the company’s successfully concluded its right’s issue of 48,08,21,750 equity shares at an Issue Price of ₹ 1 Per Share, aggregating up to INR 48.08 Cr.

Mergers & acquisitionsbandhanbank.com ↗

Bandhan Bank disclosed it sold 15.39 crore shares at ₹21.50 apiece.

IPO activitydarcredit.com ↗

Dar Credit IPO Open Date: May 21, 2025 IPO Close Date: May 23, 2025 Face Value: ₹10 Per Equity Share IPO Price Band: ₹57 to ₹60 Per Share Issue Size: Approx ₹25.66 Crores Fresh Issue: Approx ₹25.66 Crores

IPO activityucobank.com ↗

Looking ahead, the upcoming IPOs of Bharat Coking Coal, Central Mine Planning and Design Institute (CMPDI), Maharashtra Natural Gas Ltd (MNGL), along with the QIP/OFS of IREDA, Garden Reach Shipbuilders and Engineers (GRSE), Veedol, Central Bank, UCO Bank, IOB, Bank of Maharashtra, and Punjab & Sind Bank are expected to present significant opportunities for the investment banking industry in FY26 and beyond, Singh added.

IPO activityfinshoregroup.com ↗

Public issue of 6,66,670 equity shares of Rs. 10 each of Finshore Management Services Limited (FMSL or The Company or The Issuer) for cash at a price of Rs. 60 per equity share (including share premium of Rs. 50 per equity share)(The Issue Price) aggregating Rs. 4.00 crores (The Issue) of which 1,16,670 equity shares of Rs. 10 each will be reserved for subscription by Market Makers to the issue (The Market Maker Reservation Portion). The issue less the Market Maker Reservation Portion i.e. issue of 5,50,000 equity shares of Rs. 10 each is hereinafter referred at as the Net Issue. The Issue and the Net Issue would constitute 30.42% and 25.10% of the fully diluted post issue paid-up equity capital of the company.

Mergers & acquisitionsbandhanmf.com ↗

Bandhan Group (Bandhan Financial Services) has officially acquired Genisys Group, marking its strategic entry into the technology sector.

Mergers & acquisitionsarnoldholdings.in ↗

Navratri Trading Pvt Ltd. Has picked up 11.70 Lakh shares in Arnold Holdings Ltd. At an average price of Rs.71.61.

Leadership moveskhaitanco.com ↗

VR Neelakantan, who has spent close to two decades at Shardul Amarchand Mangaldas (SAM), has resigned to join Khaitan & Co.

Full recorded event mix

Top 10 categories among 296 recorded events in the 24-month window.

Earnings
213
Leadership moves
37
Regulatory
10
IPO activity
7
Asset acquisitions
7
Contracts
5
Company announcements
4
Mergers & acquisitions
4
Lawsuit
3
Funding rounds
2
7 activity cards

Swipe or scroll horizontally to browse.

Leadership moves

9 tracked people moves

Khaitan ↗
VR Neelakantan

Appointment Partner

Khaitan ↗
Samridha Neupane

Appointment Partner

Khaitan ↗
Mrinal Sharma

Appointment Partner

Don Zarrar

Bandhan ↗
Mayur Vasa

Appointment Chief Technology Officer

Chandra Shekhar Ghosh

Appointment Managing Director and Chief Executive Officer

Arohan ↗
Mr. Arvind Murarka

Appointment Chief Information Officer

Product launches

Products, platforms and features in the recorded window

Arohan ↗
Sustainability Report

ESG Report

Contract wins

1 recorded customer wins

Customer: indian air forceBanking

Workforce actions

1 companies with reported reductions

12,000 roles

Litigation

3 tracked suits

Company
state bank of india, uco bank, union bank of india, bank of v Chetan Sandesara, Nitin Sandesara

disbursal of claim amounts for debt claims against Sterling Biotech LtdCivil · Ongoing

Company
uco bank v Manjari Ashok Kacker

fraudulent borrower designationRegulatory · Ongoing

Earnings pulse

Reported company results in the recorded window.

38companies
205period observations
13.2%median reported growth

Median across 125 reported growth observations; companies may contribute multiple periods.

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
sumitomo mitsui banking corporation→Bandhan Bank ↗Announced2025-09-17Not stated in snapshot
Bandhan→genisys groupAnnounced2024-11-05Not stated in snapshot
Navratri Trading Pvt Ltd.→Arnold Holdings Limited ↗2024-09-24Not stated in snapshot
familycredit limited→L&T Finance and L&T FinCorpAnnounced2024-08-10Not stated in snapshot
plutus wealth management→Bandhan Bank ↗Completed2023-12-01Not stated in snapshot
ICRA Analytics→D2K Technologies IndiaPending2023-10-22Not stated in snapshot

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

131 postings in the preceding 12 months. The full 160-posting snapshot covers 115 employers.

Expand panel +

Most advertised job titles

Acquisition Manager Rl Sales Sales5
Package Consultant: Oracle Erp Cloud Financials5
Chief Financial Officer3
Financial Analyst Data Analytics2
Package Consultant: Oracle Erp Financials2
Nowpurchase Financial Controller/Head Accounts2
0 internship postings

0 tracked postings mention remote work.

The seniority mix

91 postings specify a level.

unspecified
69
manager
53
senior
22
lead
13
entry
2
intern
1

Skills employers mention

Top skills across 160 tracked postings in the available jobs snapshot.

Financial Services
38
Financial Reporting
26
Financial Analysis
22
Sales
22
Budgeting
19
Financial Planning
18
Accounting
15
Business Development
14
Forecasting
13
Ca
12
THE PEOPLE BUILDING THE FIELD

Founders and leaders

141 founders and chief executives across 121 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

8 profiles with education records.

IIM Calcutta
2
Indian School of Business
1
Indian Institute Of Management–Indore
1
University of Chicago
1
Stanford Business School
1
Stanford University
1
London Business School (LBS)
1
Harvard University
1

Prior employers

1 profiles with prior-work records.

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

31,143 articles in the measured 12-month window.

Expand panel +
31,143articles in the measured year
8,473articles in 2026Q1
66.8%positive tone in the latest complete year

News volume trends

Financial Services coverage tagged Kolkata · articles per complete quarter

03,1056,2109,31512,4202021Q2: 3,8892021Q22021Q3: 3,6542021Q4: 3,9962022Q1: 5,1412022Q2: 5,5432022Q22022Q3: 5,7342022Q4: 6,5782023Q1: 6,7632023Q2: 7,0252023Q22023Q3: 5,6782023Q4: 7,2462024Q1: 5,9942024Q2: 7,4172024Q22024Q3: 10,8002024Q4: 7,8412025Q1: 9,4232025Q2: 6,3352025Q22025Q3: 6,6992025Q4: 8,3802026Q1: 8,4732026Q1
View quarterly article counts
QuarterArticles
2021Q23,889
2021Q33,654
2021Q43,996
2022Q15,141
2022Q25,543
2022Q35,734
2022Q46,578
2023Q16,763
2023Q27,025
2023Q35,678
2023Q47,246
2024Q15,994
2024Q27,417
2024Q310,800
2024Q47,841
2025Q19,423
2025Q26,335
2025Q36,699
2025Q48,380
2026Q18,473

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
7,454 positive · 350 neutral · 4,402 negative
2022
15,503 positive · 700 neutral · 6,759 negative
2023
18,895 positive · 516 neutral · 7,247 negative
2024
18,968 positive · 499 neutral · 12,537 negative
2025
20,543 positive · 876 neutral · 9,354 negative

Leading coverage topics

Financial Services coverage tagged Kolkata · ranked by full-period article count.

Geopolitical Disputes And Contested Areas300,767 articles in the full recorded period
108,119 recent · 81,398 prior
International And Transnational Geographic Entities300,748 articles in the full recorded period
108,111 recent · 81,397 prior
Administrative And Political Subdivisions300,693 articles in the full recorded period
108,088 recent · 81,386 prior
International Sports Competitions112,947 articles in the full recorded period
27,459 recent · 27,166 prior
International Political Relations73,660 articles in the full recorded period
23,053 recent · 15,430 prior
New Product Launches And Innovations60,765 articles in the full recorded period
18,282 recent · 14,107 prior
Cricket Test Matches55,727 articles in the full recorded period
13,520 recent · 11,952 prior
Political Party Dynamics53,187 articles in the full recorded period
11,650 recent · 11,173 prior
Strategic Partnerships And Collaborations52,980 articles in the full recorded period
16,288 recent · 11,982 prior
Trade Policies And Agreements47,216 articles in the full recorded period
22,913 recent · 11,807 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

India comparison coverage

KeywordRecentPriorChange
tariff negotiations11,6545,735103%
bilateral trade4,6142,44589%
trade dispute mechanisms4,5252,213104%
trade barrier reduction4,5052,45783%
trade facilitation commitments4,3332,20896%
countries4,1931,860125%
free trade deals4,0852,44567%
multilateral diplomacy3,9322,72744%
diplomatic strategies3,8382,36063%
bilateral trade imbalance3,2872,06359%
odi cricket6,0589,722-38%
limited overs cricket5,7969,377-38%
odi tactics5,6528,814-36%
odi series5,2768,381-37%
odi rankings5,0258,115-38%

Event and signal lenses

India comparison coverage

All complete annual cohorts shown
Rising

Regulatory Risk

1,945,602 classified articles

territories, disputed islands, test cricket

43.8% critical · 27.4% positive
Rising

Funding Momentum

259,811 classified articles

pre-ipo valuation, ipo prospectus, ipo pricing

49.0% critical · 45.9% positive
Rising

Growth

549,706 classified articles

gdp growth rate, economic output growth, economic growth statistics

47.3% critical · 49.9% positive

Financial Services coverage tagged Kolkata. Topic labels describe recorded classifications and can include broad context.

UNDERSTAND THE LANDSCAPE

Financial Services in Kolkata: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

KEEP EXPLORING

Put Kolkata in context

All landscapes ↗

Company ecosystem snapshot: 3 September 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon