Fintech is one of the hot Indian sectors of 2021. It has survived the first wave of Covid last year successfully with just a few minor speed bumps. This year too, the Fintech industry looks promising. Zeta is the 14th latest entrant from Fintech to India’s unicorn league of start-ups. Some of the biggest names like CRED and Bharath Pe together with other Indian start-ups have managed to raise a total of $22.8 B for the first quarter of 2021 which is the highest for the industry. New Fintech start-ups have been incorporated this year as per the official data records of the Ministry of Corporate Affairs (MoCA). Here are some of the new entrants in fintech for 2021
Singhvi Fintech Private Limited
Registered on the 14th of April 2021, Singhvi Fintech is a new entrant in financial intermediation. The company is based in Chennai, Tamil Nadu and is incorporated as a Private Limited firm. The company has declared a paid-up capital of INR 100,000 and Authorised capital of INR 10,00,000.
Kwik Fintech Private Limited
The next new entrant to Fintech in 2021 is a start-up from Uttar Pradesh called Kwik Fintech. Incorporated on the 13th of April 2021, Kwik Fintech’s paid up capital and authorised capital both stand at INR 100,000. The directors of Kwik Fintech are Srijan Mittal and Deepak Chaudhary.
IDB Fintech Private Limited
Another start-up from Uttar Pradesh, IDB Fintech was registered with MoCA on the 9th of January 2021. IDB Fintech’s paid-up capital is INR 10,000 and authorized capital declared is INR 100,000. The leadership team of IDB include Abhinav Sharma and Saroj Sharma.
YT Revenue Fintech Private Limited
YT Revenue is a fintech start-up based in Maharashtra. It was incorporated on the 6th of January 2021. It has declared authorised share capital and paid-up capital of INR 100,000 each. The start-up is aimed at helping customers take profitable business decisions. They also have a Chartered Accountancy wing which undertakes Accounting, Audit, and Assurance services. YT Revenue provides financial consultations and offers a wide range of finance products and services like Insurance, Mutual Funds, and Education Planning.
Visionnxt Fintech Private Limited
Visionnxt is a Delhi based fintech start-up incorporated on the 6th of January 2021. They are involved in financial intermediation services and have declared Authorised and Paid-up capital of INR 15,00,000 and 5,00,000 respectively. Jayant Vittal Kaup and Urvashi Gandotra are registered as the directors of the company on MoCA.
Singhvi Fintech Private Limited
Singhvi Fintech was registered on the 14th of April 2021 and is a start-up based in Chennai, Tamil Nadu. The company’s authorised capital is INR 10,00,000 and paid-up capital is INR 1,00,000. The leadership team of SInghvi Fintech include Dharmichand Singhvi and Rishab Singhvi.
New Fintech start-ups have been incorporated this year as per the official data records of the Ministry of Corporate Affairs (MoCA).
What’s in it for me?
Industry players need to be aware of yearly new entrants. This is from a threat perspective as well as from a need for general awareness regarding competition, new products and services. If direct competition has sprung up, you can tweak and differentiate your products. When new start-ups enter the market, you can expect price fluctuations from suppliers due to higher demand. You can also prevent your market share from being usurped by the new entrant by changing your strategy at the opportune time.