India's FinTech industry valuation estimated at USD 150-160 bn by 2025: Report
The total valuation of the industry is estimated at USD 50-60 billion.The industrys growth has been undeterred by the pandemic, as it has seen the emergence of three new Unicorns and five new Soonicorns USD 500 mn valuation since January 2020.Prateek Roongta, Managing Director and Partner, Boston Consulting Group India said, We believe Indias FinTechs are at the precipice of significant value-creation of USD 100 billion over the next five years.
- Country:
- India
India's financial technology companies are poised to become three times as valuable in the next five years, reaching a valuation of USD 150-160 billion by 2025, according to a report.
The report unveiled on Saturday details the findings from the study that Boston Consulting Group (BCG) and FICCI undertook to size the value-creation potential and identify imperatives for India's FinTech growth.
''India is strongly poised to realise a FinTech sector valuation of USD 150-160 billion by 2025, translating to an incremental value-creation potential of approximately USD 100 billion. It is estimated that to meet this ambition, India's FinTech sector will need investments of USD 20-25 billion over the next five years,'' says the report.
India's dynamic FinTech industry has over 2,100 FinTechs of which 67 per cent have been set up over the last 5 years alone. The total valuation of the industry is estimated at USD 50-60 billion.
The industry's growth has been undeterred by the pandemic, as it has seen the emergence of three new Unicorns and five new Soonicorns (USD 500 mn+ valuation) since January 2020.
Prateek Roongta, Managing Director and Partner, Boston Consulting Group India said, ''We believe India's FinTechs are at the precipice of significant value-creation of USD 100 billion over the next five years. To actualise this potential, the industry would require investments to the tune of USD 20-25 billion till 2025. Consequently, the number of Indian FinTech Unicorns will more than double over the next few years.'' PTI RSN MKJ
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Incoming PM Wong to Foster Continued Growth in Singapore-India Relations: SICCI
Fake videos of Modi aides trigger political showdown in India election
Indian men's 4x400m team suffers setback at World Relays, second leg runner bows out injured
Go Fashion (India) Ltd Aims to Expand Retail Footprint with 120-150 New Stores in FY25
Indian Talent Boosts American Tech Innovation, Says SVC Chamber of Commerce CEO