Top fintech companies in Chennai

Chennai, the capital of Tamil Nadu, is India’s fourth largest city and is situated on the Coromandel Coast of the Bay of Bengal. Formerly known as Madras, the city is home to many significant ports, including the Chennai Port and the Ennore Port, which each year handle a significant amount of cargo. By road, rail, and air, Chennai is very well connected to other regions of India. The city is also a significant centre for education and research, with a number of colleges and universities, including the University of Madras and the Indian Institute of Technology Madras. Chennai is a significant cultural hub in addition to its prominence as a business and industrial hub. The Fort St. George, the Kapaleeshwarar Temple, and the Santhome Basilica are a few of the city’s historical landmarks. Chennai is a significant hub for the creation of music and films.

 

Business landscape in Chennai

Chennai’s strategic location on the Bay of Bengal, its well-developed infrastructure, and its sizable pool of trained labour are only a few of the reasons for its economic and industrial prominence. Chennai is a major commercial and industrial hub, home to the headquarters of many large companies, such as Infosys, Wipro, and Tata Consultancy Services. The city is home to several industrial estates that house a range of businesses in the manufacturing, engineering, and IT sectors. Overall, Chennai is India’s significant industrial, economic, and cultural hub. The city is developed and offers many benefits that make it a desirable location for businesses and people.

 

Top FinTech companies in Chennai

 

BankBazaar

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: Taramani, Chennai, Tamil Nadu – 600113

Founding Date: 2008

Adhil Shetty, Arjun Shetty, and Rati Rajkumar established BankBazaar in 2008, which is now the largest financial marketplace in India. It enables users to evaluate and apply for a variety of financial products from over 85 partners, including loans, credit cards, insurance, and mutual funds. BankBazaar has amassed approximately $118 million in capital from prestigious investors. It has offices in Bangalore, Mumbai, Chennai, and Singapore, in addition to its headquarters there. The goal of BankBazaar is to make financial goods available and inexpensive for all Indians.

 

PayPal

Industry:  BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: Salai, Chennai, Tamil Nadu – 600119

Founding Date: 2011

Since 2005, PayPal, a global payment company with headquarters in the US, has been active in India. It is one of the biggest and most well-known payment platforms in the world, offering a variety of services for both individuals and companies, such as online payments sending and receiving and payment in a variety of currencies. It is a well-liked method for sending and receiving money between people as well as paying for products and services online.

 

Paytm

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: T Nagar, Chennai, Tamil Nadu – 600017

Founding Date: 2010

Paytm, a FinTech startup founded by Vijay Shekhar Sharma in 2010, is India’s leading provider of financial services and digital payments. It offers a wide range of products and services to consumers and businesses, including loans, buy-now-pay-later options, bill payments, money transfers, ticketing, brokerage services, and online gaming. With over 20 million merchants and 330 million active customers, Paytm is one of India’s largest FinTech startups. Paytm is committed to financial inclusion, making its services accessible to all Indians, regardless of location or income.

 

IppoPay

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: SMEs

Location: Guindy, Chennai, Tamil Nadu- 600032

Founding Date: 2020

IppoPay is a payment gateway platform that helps small businesses, freelancers, and people in Tier 2 and 3 cities and rural areas to collect and distribute payments. It supports all QR payment apps and 100+ other payment options, making it easy for businesses to accept domestic and international payments. IppoPay’s developer-friendly APIs and hassle-free integration make it a convenient and affordable solution for businesses of all sizes.

 

Credit Mantri

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: SMEs

Location: Thousand Lights, Chennai, Tamil Nadu – 600006

Founding Date: 2012

India-based FinTech startup Credit Mantri offers consumers and small companies credit-related services. A variety of services are available, such as credit score analysis, custom loan recommendations, and financial counselling. Additionally, the business offers a data-driven platform that gives individuals credit and financial reports based on their credit histories. Users may evaluate the best products from more than 50 lenders in one location and choose the one that best suits their needs. With monthly reports on credit activity, payment notifications, and insights to raise credit scores, Credit Mantri also assists consumers in monitoring the status of their credit.

 

Kaleidofin

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: SMEs

Location: Taramani, Chennai, Tamil Nadu – 600113

Founding Date: 2017

Kaleidofin, a FinTech platform, provides intuitive and tailored financial solutions to under-banked customers to help them achieve their real-life goals. It combines distinct financial products (credit, investment, insurance, savings) to form solutions that resonate with and work for each customer. Kaleidofin leverages networks such as agents, cooperatives, self-help groups, temp agencies, and MFIs to deliver suitable solutions at an enormous scale.

 

Financial Software & Systems 

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: Navalur, Chennai, Tamil Nadu – 603103

Founding Date: 1991

Financial Software & Systems is a global leader in payments technology, providing a comprehensive portfolio of software products, hosted payment services, and software solutions. FSS’s end-to-end product portfolio spans issuance, acquiring, ATM, reconciliation, security, and real-time payments. FSS has over 30 years of experience and operates in over 50 countries worldwide.

 

Hinduja Leyland Finance

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: SMEs

Location: Guindy, Chennai, Tamil Nadu – 600032

Founding Date: 2008

Hinduja Leyland Finance Ltd (HLF) is a leading vehicle finance NBFC in India, promoted by Ashok Leyland Limited and Hinduja Power Limited. It has a focus on urban and semi-urban markets and finances a wide range of commercial and personal vehicles, including trucks, buses, cars, two-wheelers, and tractors. HLF has an expansive operational network of over 350 branches and 1,550 business locations spread across 23 states and two Union Territories in India. HLF is a one-stop shop for vehicle and equipment finance and offers a variety of financial solutions to its customers. 

 

GAIN Credit (Global Analytics India) 

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: Taramani, Chennai, Tamil Nadu – 600113

Founding Date: 2003

GAIN Credit (Global Analytics India) is a leading FinTech company that empowers the underserved with responsible credit solutions. Founded in 2003, the company leverages technology and analytics to build world-class lending products for its customers in the UK. GAIN Credit’s brands offer a range of lending products backed up by world-class expertise, and the company has been recognised for its innovative approach to lending.

 

Fidelity National Information Services 

Industry: BFSI, FinTech

Sub-Industry: FinTech

Company Type: MNC

Location: Ambattur Industrial Estate, Chennai, Tamil Nadu- 600058

Founding Date: 1968

FIS is a global FinTech leader with over 50 years of experience. FIS offers a wide range of FinTech software and services that enable businesses to automate, streamline, and modernise their operations across the payments, banking, and capital markets industries. FIS’s flexible, cloud-based solutions are used by businesses of all sizes, from garage startups to leading global brands. FIS is a trusted partner to many of the world’s leading financial institutions, and its FinTech software is used to process trillions of dollars in transactions annually.

 

Commercial real estate demand in Chennai

• Office space: Chennai-based FinTech firms have changed the face of conventional office space. Their cutting-edge work environments, focus on teamwork, and tech-forward outlook have increased demand for contemporary, adaptable workspaces, reshaping the city’s commercial real estate market.
• Rental property: The city’s rental property market has been further influenced by the arrival of FinTech businesses in Chennai. The rise in the number of tech-savvy workers has increased demand for rental homes, raising rental costs and changing the real estate market.
• Impact: The commercial real estate market in Chennai has undergone a change because of the entry of FinTech companies. Chennai’s real estate market has evolved to accommodate the diverse needs of this burgeoning demographic, reshaping the city’s skyline and enhancing the overall living conditions in the metropolitan area.

 

The impact on Chennai

The fast growth of FinTech startups and enterprises has brought about a seismic shift in Chennai’s economy, which has had an impact on both the city’s commercial and residential real estate markets. These tech-savvy businesses have revitalised the city’s economy by generating high-paying employment and encouraging company expansion as they continue to prosper. The demand for commercial office space has greatly expanded as a result of the migration of well-paid professionals, sparking a development boom in the city’s major business districts. Simultaneously, real estate developers have been drawn to build residential projects that cater to the shifting lifestyle preferences of the more affluent population as a result of the surge in expendable income and investment opportunities made possible by FinTech technologies. 

 

FAQs

What do FinTech companies do?

A FinTech company is a company that offers financial services or makes substantial use of technology in its operations. These businesses typically lead the way in their respective fields, redefining how people interact with the financial industry via the use of technology.

What are the major FinTech firms present in Chennai?

BankBazaar, PayPal, Paytm, IppoPay, Credit Mantri, Kaleidofin, Financial Software & Systems, Hinduja Leyland Finance, GAIN Credit (Global Analytics India) and Fidelity National Information Services are some major FinTech Companies located in Chennai.

What are the best neighbourhoods to consider when looking for a place to live in Chennai?

The most desirable areas to live in Chennai are Adyar, Anna Nagar, Besant Nagar, Kotturpuram, Mylapore, Nungambakkam, R.A Puram, and Thiruvanmiyur. These areas provide a wide variety of amenities, attractive neighbourhoods, and a dynamic culture that accommodates a variety of lifestyles.

What was the original name for Chennai?

The British East India Company built a fort and trade station in the fishing village of Madrasapattinam in 1639–1640, giving the area the original name of Madras, which was later changed to Chennai in 1996.

What are the best IT companies based in Chennai?

Major renowned IT companies are based in Chennai, including TCS, Infosys, Cognizant, Accenture, Wipro, HCL, Tech Mahindra, and Capgemini, which greatly contribute to the city's flourishing IT sector.

What are the primary sectors of economic activity present in Chennai?

-The varied industries that collectively makeup Chennai's economy include IT and software, auto manufacturing, electronics, healthcare, banking, textiles, aerospace, shipping, education, hospitality, and film production.

Which comes under the largest FinTech companies in India?

Paytm, Gpay, PayPal, Instamojo, Razorpay, Shiksha Finance, Pine Labs, ZestMoney, PolicyBazaar, and InCred are notable FinTech companies in India.

Who is credited as the pioneer of FinTech?

Dee Hock, often credited as the Father of FinTech, founded Visa, one of the largest FinTech companies in terms of market valuation.

What is FinTech City Chennai?

The FinTech City in Chennai is a huge project that has the potential to completely transform Tamil Nadu's financial industry. Strong IT infrastructure, a highly qualified workforce, and a supportive government all contribute to its potential for success.

 

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 [email protected]