Top fintech companies in Bangalore

The vibrant city of Bangalore is witnessing a revolution in the world of Finance and Technology every passing second. The city is home to numerous thriving Fintech companies. Fintech, short for Financial Technology, with its strategic approach towards technology, makes banking, investing and managing money more convenient for everyone.

Fintech companies don’t just shake the finance industry but have significantly impacted the real estate sector. With their advanced technology and platforms, they have made buying, selling and investing in properties very feasible for everyone.

 

Business landscape in Bangalore

Bangalore’s dynamic Business landscape hosts technology, innovations and entrepreneurship all in one place. The city is full of startups, multinational corporations, and a wide range of industries, from IT and biotechnology to finance and real estate. It’s due to Bangalore’s strong ecosystem and business-friendly environment that makes it an ideal home for these industry giants. This results in bringing more and more talented professionals to the city, making it a hub for job seekers and investors alike.

 

Top-7 fintech companies in Bangalore

PhonePe

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type: Industry Top

Location: Bellandur, Bangalore South, Bangalore-560103,

Founding year: 2015

PhonePe is a popular fintech company based in Bangalore. It started in 2015 and has an app for payments and services. It was bought by Flipkart in 2016 and is one of India’s fastest-growing fintech companies. It has over 250 million users and is big in UPI transactions. One can use their app to send money, recharge, pay bills, buy gold, and invest. It also offers services like mutual funds and insurance. In 2018, it added a switch feature to order from many apps.

 

Pine Labs

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type: MNC

Location: MG Road, Bangalore – 560001.

Founding year: 1998

Pine Labs is an Asian fintech company founded in 1998, initially focusing on smart card-based payments for the retail petroleum industry. They expanded to Malaysia in 2017 through a partnership with CIMB Bank. Today, Pine Labs is known for providing comprehensive payment solutions for merchants, both in-store and online, across various sectors such as electronics, lifestyle, automobile, grocery, healthcare, and hospitality. They also offer tools for customer benefits as well as business operations support through analytics and utility app integrations.

 

PayPal

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type: MNC

Location: Chikkakannalli, Bangalore 560035

Founding year: 1998

PayPal is a widely recognised and trusted payment service provider, founded in 1998, with over 400 million active users worldwide. They offer diverse tools for businesses to manage operations, accept payments online, and reach a global customer base. PayPal’s solutions cater to various commerce needs, from payment processing on websites and marketplace platforms to sending money and streamlining business operations.

 

Freecharge

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type: SME

Location:  Rustam Bagh Layout, Bengaluru, Karnataka 560017

Founding year: 2010

Established in 2010, Freecharge is a payment app serving over 100 million users in India. As a 100% subsidiary of Axis Bank, it offers secure and seamless UPI payments, utility bill payments, mobile/DTH recharges, and Pay Later solutions. Freecharge also provides financial services, including Buy Now Pay Later, Personal loans, and Credit Cards, all backed by Axis Bank. They are actively supporting small and mid-size retailers with products like Merchant Cash Advance, offering loans with zero collaterals.

 

Groww

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type:  SME

Location: Bellandur, Bengaluru – 560103. 

Founding year: 2016

Groww, established in 2016 and headquartered in Bengaluru, is an online investment platform. This financial services platform enables users to discover investment opportunities in mutual funds, stocks, US stocks, exchange-traded funds (ETFs), initial public offerings (IPOs), and various other avenues to grow their money. Groww has garnered significant investment with a total raised capital of $399.89 million from 17 investors across 3 deal terms, showcasing its growth and appeal in the financial technology sector.

 

Zerodha

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type:  SME

Location: J.P Nagar, Bangalore 560078 

Founding year: 2010

Zerodha is a prominent financial services company operating in the Indian stock market, with memberships in NSE, BSE, and MCX. Zerodha specialises in brokerage-free equity investments, retail and institutional broking, as well as trading in currencies and commodities. The company has a strong presence in nine Indian cities and plays a role in NSE’s consultative committee for business growth. 

 

CRED

Industry: BFSI, Fintech

Sub Industry: Fintech

Company Type: MNC

Location: Indiranagar, Bangalore 560038

Founding year: 2018

Established in 2018, CRED is an exclusive members-only club that rewards individuals for paying their credit card bills on time. It offers exclusive offers and premium experiences to its members. Users can manage multiple credit cards on the platform and get insights into their credit scores. The app features spend tracking and efficiency analysis. CRED also has a unique CRED Protect feature that uses AI to monitor credit card payment journeys, including reminders, spending patterns, and statistics.

 

Commercial real estate demand in Bangalore

Office space: Since Bangalore is a hub for IT and technology companies, many businesses want to set up their workspace here. This increases the demand for office spaces. Whether it’s a startup or a well-established corporation, they all need a well-equipped and smart workspace. This need is filling the skyline of Bangalore with skyscrapers of modern offices.

Rental property: Due to the wide array of opportunities that the city offers, people from all over the country come to Bangalore for work or study. This increases the obvious demands of residential properties. It has led to a growing demand for rental properties, including apartments and houses. Landlords are finding good opportunities to rent out their properties to this influx of tenants.

This surge in commercial real estate demand has a ripple effect on the city. It boosts the construction industry, creates jobs, and increases property values. It also affects rental prices, which can rise due to high demand. As a result, the real estate sector plays a significant role in Bangalore’s economy.

 

Impact of fintech companies on Bangalore

Fintech companies have a big hand in increasing job creation, fostering economic growth, enhancing financial convenience and increasing demand for properties in Bangalore. Their technological innovations have not only transformed the financial landscape but also contributed to Bangalore’s status as a thriving hub for both business and technological advancements.

 

FAQs

Which Indian fintech company is based in Bangalore?

CRED and PhonePe are Indian fintech companies, among many others based in Bangalore.

What is a fintech company?

A fintech company is a type of company that uses technology to make financial services, like banking, investing, and payments, easier and more accessible for people and businesses.

What is the salary of fintech technology?

Salaries can range from modest to very high, with positions like software developers and data scientists often earning competitive salaries in the industry. The average annual salary for a Fintech professional is Rs. 15 Lpa.

Is fintech the future?

Yes, fintech is considered a significant part of the future of finance and technology as it continues to grow and makes financial services more convenient and accessible for people worldwide.

Why is Bangalore’s real estate booming?

Bangalore's real estate is booming due to factors like IT industry growth, job opportunities, and a vibrant economy. Fintech companies also play a role in increasing demand for housing and commercial spaces.

Who controls fintech?

Fintech companies are typically regulated by government authorities, such as financial regulators, depending on the country they operate in.

Is fintech a bank?

No, fintech is not a bank. Fintech refers to technology financial companies that provide various financial services, while banks are traditional financial institutions that offer services like savings accounts, loans, and more.

What is the growth rate of real estate in Bangalore?

Bangalore has one of the top property markets, with a growth rate of 5% annually.

Will real estate prices fall in Bangalore in 2024?

No, there is an expected real estate boom in 2023-2024, but note that while current margins are comfortable, predicting the future is uncertain due to the potential for rising inflation rates.

 

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com