Fintech Start-ups- The New Unicorn

 Siddharth Mehta IL&FS believes that Fintech are the new unicorn in the market. According to him these start-ups are expanding quickly. India being the seventh largest country in the world where on an average a person is spending 6 hrs/a day on internet and increase in demand for low cost smartphone. Fintech has changed the lifestyle of people the way it was. Now the people are using digital method of payment and banking also for wide variety of activities online.

Siddharth Mehta IL&FS called the Fintech companies the new unicorn of the market. Life since outbreak of the pandemic is not same anymore and these Fintech companies, there are many like Paytym, LendingKart, PhonePe and many more have turned customer life from traditional to the digital one. It also have a tremendous impact on the finance sector of the economy.

We can see there is a quick expansion of these Fintech companies in India. The government drive for the cashless economy and the pandemic they both have played an important role in expansion of these companies. Siddharth Mehta IL&FS also believed in this. According to him, “The pandemic has accelerated the growth in digital space.”  He also laid an emphasis on being ‘digital’ for businesses for sustainability over the next decade.

From accessing government service to COVID vaccinations this is how digital transformation is taking place in India. India in fact has highest volume of real time payment transaction with over 25 billion transactions in 2020 followed by China which holds about 16 billion transactions in 2020. By this it can be said that India is on a path to becoming largest digitize business hub. The digital activity has become extremely important and relevant in every sector and businesses.  

This evolution of this digitization has grab the eyes of Mr. Siddharth Mehta at Bay Capital to invest in this as he was profound about this but he also advices the new investors to invest in the digitally driven Indian economy. To the investors his words were “our advice to investors would be to remember that the collective resolve of humankind

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