We live in an interconnected world with innovations in every aspect of life and the financial landscape is not left behind. With the traditional banking system leaving a lot to be desired and underserving the population with their financial services, the fintech companies have emerged as a game-changer. Financial technology or fintech is the use of the latest technology to automate and enhance traditional financial services so that it is more accessible to individual customers. Finance management especially personal finance management fintech transformative innovations have opened many opportunities to the unbanked and those who were removed from necessary financial services. Here is a list of the Top 10 Personal Finance Management Fintech Companies, carefully vetted by the Top 10s Only team.
List Of Top 10 Personal Finance Management Fintech Companies In India
Personal finance is about managing your money so that you can attain your financial goals. The use of technology in finance has helped in many innovations and many pioneer companies have revolutionized the way people can manage their finances. These companies, many of which began as innovative startups, have leveraged the best technology to empower people to manage their finance effectively and efficiently. From investment tracking to savings strategies, these companies are trailblazers in providing a seamless blend of financial services using advanced technologies. So who are those trailblazers? We have a curated list of the top 10 best fintech companies in India currently.
1. BankBazaar
BankBazaar is one of the largest and most popular Fintech companies in India. It is the first neutral online marketplace in the world with over 50 million users. It is a leading platform for comparing and analyzing a wide range of financial products like insurance policies, credit cards, loans, etc. It uses the latest technology to provide an intuitive, secure and user-friendly platform to customers. It has paperless transactions that make it convenient to the customers and environment friendly. BankBazaar is one the best personal finance management fintech companies in India that provides personalized recommendations and makes comparison and purchase of financial products online easy.
Founder And History
The founders of this India-based fintech are Rati Shetty, Adhil Shetty ad Arjun Shetty. The company was started in 2007 and the journey for it dates back to 2007. Rati Shetty, a co-founder along with her husband Arjun Shetty were on a hunt for a home loan. The couple found that finding it in India was not easy and it was time-consuming and cumbersome. So Rati became an entrepreneur to make the process easy and started the company with Adhil Shetty her brother and Arjun Shetty.
Location
BankBazaar is headquartered in Chennai and the first office too was set up in this city.
Total Funding
$117 M
Current Value
NA
Business Model
BankBazaar has a market-place business model that follows B2B and B2C. It is an online marketplace which provides a platform for sellers to sell their products and connect with potential customers.
Services Offered
- Financial products comparison
- Loans
- Insurance Policies
- Investment Products
Subscription
Free. Users can use the core services for free and get personalized recommendations and initiate the application process.
Website
Online Presence
https://www.facebook.com/bankbazaar
https://twitter.com/bankbazaar
Personal Managers Availability
No
Helpful Videos that explains their services
NA
App Link
Google Play Store:
https://play.google.com/store/apps/details?id=com.bankbazaar.app&pli=1
App Store:
https://apps.apple.com/in/app/bankbazaar-loans-credit-cards/id972595507?ign-mpt=uo%3D4
2. Bajaj Finserv
Bajaj Finserv is a popular financial services company in India that is a diversified Non-Banking Financial company NBFC registered under the RBI. Despite it starting off as a traditional financial services company, it has slowly evolved to become a leading Fintech company as it has leveraged technology to enhance its services. It offers digital platforms for investments and payments, online application processes and mobile apps for a wide range of services including account information. This integration of technology and traditional financial services has helped it make it one of the best in the list of fintech companies in India that provide personal finance management.
Founder And History
The founder of Bajaj Finserv is Jamnalal Bajaj. It was created in 2007 after it was demerged from Bajaj Auto Limited to focus more on financial services. The demerger helped Bajaj Finserv to run the core services of savings, protection and lending. The focus of the company was to create a business with values like innovation, efficiency and reliability and provide high-quality services and products to customers.
Location
It is headquartered in Pune and the first office was in Warud, Pune. The company now has many branches in Hyderabad, Ahmedabad, Vijayawada, etc.
Total Funding
$302 B
Current Value
NA
Business Model
The company has a diversified B2B or B2C business model where it equally focuses on lending asset management, insurance and wealth management, Apart from targeting new customers, it also focuses on their existing ones.
Services Offered
- Asset Acquisition through Lending
- Asset protection through General Insurance
- Investment/Wealth management through Life Insurance, Mutual funds and Fixed Deposits
- Income protection through Life Insurance Pensions
Subscription
Free. Users can use the core services for free and get personalized recommendations and initiate the application process.
Website
Online Presence
https://www.facebook.com/bajajfinserv/
https://twitter.com/Bajaj_Finserv
Personal Managers Availability
No
Helpful Videos that explains their services
NA
App Link
Google Play Store:
3. PhonePe
Phonepe is one of the leading digital payment portals that offers bill payments, monetary transactions, shopping and more all at one place. Phonepe acquired by Flipkart is a pioneer in digital payments and one of the best financial services fintech company in India. It allows users to access their bank accounts online at their convenience and use the funds they need. It can be linked to a mobile wallet, debit or credit card and instant money transfers. It is one of the first payment apps to support many Indian languages and is the first UPI app to make a billion transactions. The in-app services are not limited to payments alone but include financial offerings like investment products, insurance products and more.
Founder And History
It was founded in 2015 by ex-Flipkart employees Burzin Engineer, Rahul Chari and Sameer Niam. They started this company with the focus of making financial transactions and services simple and accessible to everyone. In 2016, Flipkart recognized the potential of PhonePe and forged a partnership that helped the company make rapid progress. The founders used the UPI (Unified Payment Interface) to create a secure and seamless app to make transactions from the user’s bank accounts. The app became popular for its easy-to-use interface and gained the trust of the customers. Due to this they continued their innovations and expanded their services and continue to do so even now making the leading Indian fintech with personal finance management services.
Location
It is headquartered in Bangalore and the first office was set up in the same city. The company now has many branches in Mumbai along with Bangalore.
Total Funding
$2.6 B
Current Value
$12 Billion
Business Model
The company operates on a combined B2C and B2B business model in their financial and digital payment sectors. On the customer’s side, it offers digital payment platforms to make transactions. On the merchant’s side, it provides a payment solution to accept payments.
Services Offered
- Bill payments
- Payment Gateways
- Pre-paid instruments
- Mutual Funds
- Gold purchases and sales
- Insurance
Subscription
The core services are free. However, premium services like specialized services or financial products may be paid.
Website
Online Presence
https://www.facebook.com/OfficialPhonePe/
https://twitter.com/phonepe_?lang=en
Personal Managers Availability
No
Helpful Videos
PhonePe
App Link
Google Play Store:
https://play.google.com/store/apps/details?id=com.phonepe.app&hl=en_IN&gl=US
App Store:
https://apps.apple.com/in/app/phonepe-secure-payments-app/id1170055821
4. Wishfin
It is one of the leading fintech domain companies in India that offers a financial marketplace to help people manage their personal finance. It is a neutral and customer-friendly marketplace that uses proprietary tech solutions to provide the right banking solutions to customers based on their needs. It allows its users to compare loan interest rates, calculate EMI, check credit scores and more. Wishfin is a premier fintech marketplace that is the preferred digital partner for more than 40 financial institutions, banks, insurance companies, and mutual funds. It aims to become one of the biggest credit marketplaces in India and already has more than 40 million customers.
Founder And History
The company was founded by Puru Vashishtha and Rishi Mehra in 2016. Wishfin was launched as an online platform to compare personal loans and help customers make informed decisions. But over time, the company expanded and now offers many services that include checks on credit scores, applying for credit cards and more.
Location
It is headquartered in Noida, Uttar Pradesh and the first office was set up in the same city. The company has no other branch in India as of now..
Total Funding
$16.7M
Current Value
NA
Business Model
The company follows a B2C business model where the companies directly sell services and products to customers with no intermediaries.
Services Offered
- Home Loan
- CIBIL Score
- Credit Cards
- Pesonal Loan
- Compare Interest Rates
- Smart Finance Management
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
https://www.facebook.com/wishfinofficial
Personal Managers Availability
No
Helpful Videos
Wishfin
App Link
Google Play Store:
https://play.google.com/store/apps/details?id=com.mywish.wishfin.view
App Store:
https://apps.apple.com/us/app/wishfin/id1448228668?ls=1
5. MoneyView
It is a fintech company that can be called a one-stop destination for everything related to loans. The vision of this company is to provide financial services and products to a large number of underserved Indians. It is one of the easiest and fastest ways to obtain a personal loan and also to manage your money. It is one of the Indian companies that manage personal finance in fintech using the latest AI technology to power their proprietary algorithms and calculate risk accurately. It also provides the best credit solutions to users in an easy and simplified way. The app also can be used to track and manage your finances allowing you to do more with your life than managing money.
Founder And History
The company was started in the year 2014 by Puneet and Sanjay Agarwal. It was a dream that was dreamt of drinking coffee at Starbucks. The two founders wanted to help make India financially strong through a mobile App. Puneet moved to India in 2013 and was looking for ideas to start a company in Bengaluru and while looking for a place to stay chanced upon his friend Sanjay Agarwal. That was the beginning of the relationship as cofounders of MoneyView. After working for a couple of years on an application to track expenses, in 2016 with the intention of providing more financial services, turned it into a complete Fintech product. MoneyView now is an application that allows users to manage bills, record expenses, set budgets and more in a paperless way.
Location
It is headquartered in Bengaluru, Karnataka and the first office was set up in the same city. The company has no other branch in India as of now..
Total Funding
$104.42 million
Current Value
$625 mn
Business Model
The company follows a B2B business model. It is a type of e-commerce where there is an exchange of information, products or services between businesses instead of between a customer and a business.
Services Offered
- Loan App
- Credit Tracker
- EMI Calculator
- Real-Time Budget Management
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
https://www.linkedin.com/company/money-view
https://www.instagram.com/mymoneyview/?hl=en
https://www.facebook.com/moneyview.in/
https://twitter.com/mymoneyview?lang=en
Personal Managers Availability
No
Helpful Videos
MoneyView
App Link
Google Play Store:
https://moneyviewloans.app.link/rRV8PCXi8ub?%243p=a_custom_1123172339713770468
App Store:
NA
6. Credilio
Credillo is a next-generation fintech company that is a technology-empowered marketplace for financial services and products. The focus of the company is the lower and middle class who are not adequately served by the traditional banks. Taking a personal loan from fintech companies is usually very stressful. But Credilio aims to bring a personal touch to personal finance through its trustworthy finance services for all partners, lenders and customers. While most of the NBFCs and banks offer personal loans and credit cards on mobile Apps, the USP of this solution is that the financial advisors act as a bridge between the customers and the lending partners to guide from lead generation to loan disbursement for a hassle-free experience. It provides a human touch through neighbourhood financial advisors who help the customers in decision-making. It also provides a platform for digital finance advisors to build careers in personal finance with no tie-ups with banks or a customer base.
Founder And History
The company was founded in the year 2020 by Aditya Gupta and Anand Bharat Kapadia. The startup was the idea of Aditya Gupta who wanted to leverage the evolving API stack of NBFCs/Banks and enhance the technological capabilities.
Location
It is headquartered in Mumbai, Maharashtra and the first office was set up in the same city. The company has no other branch in India as of now..
Total Funding
$4.76M
Current Value
$16.8M
Business Model
The company follows a B2B business model. It is a type of e-commerce where there is an exchange of information, products or services between businesses instead of between a customer and a business.
Services Offered
- Loans
- Credit Cards
- Financial Advisory Services
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
https://www.facebook.com/credilio.in
https://www.linkedin.com/company/credilio
https://twitter.com/i/flow/login?redirect_after_login=%2Fcredilio
Personal Managers Availability
Yes
7. BharatPe
BharatPe is one of the top 10 best personal finance fintech companies in India that provides a platform for digital transactions and UPI payments. It is a one-stop destination that enables millions of merchants and small businesses to have access to safe, secure and easy-to-use financial products. It is a QR code-based application for payment for offline retailers and businesses. It allows for free UPI payments for its users and benefits the small Kirana stores and merchants. Phonepe also extends to POS machines for small business financing and card acceptance. It is a holistic Fintech platform with tailor-made products for small retailers and businessmen.
Founder And History
It was co-founded by Shahvat Nakrani and Ashneer Grover in 2018. The company was created with a vision of making the financial inclusion of small scaled Indian merchants a reality. It launched India’s first QR code that is UPI interoperable, the first UPI payment-backed cash advance service for merchants and also the first Zero MDR payment service. It is now one of the top financial technology companies in India.
Location
It is headquartered in Bengaluru, Karnataka and the first office was set up in the same city. The company has branches in Hyderabad, New Delhi, Pune, and Mumbai
Total Funding
$720 mn
Current Value
$3 bn
Business Model
It is a platform that helps make QR-code-based payments and operates in a B2B2C model as it enables the customers as well as the retailers or merchants or shopowners.
Services Offered
For Merchants
- Payments (BharatPe QR, BharatSwipe, BharatPe Speaker)
- Banking (Investment Platform)
- Lending (BharatPe Easy Loans)
For Customers
- PostPe
- 12% Club
- Zillion
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
https://twitter.com/bharatpeindia
https://www.linkedin.com/company/bharatpe
https://www.facebook.com/BharatPeIndia/
Personal Managers Availability
Yes
App Link
Google Play Store:
https://play.google.com/store/apps/details?id=com.bharatpe.app&gl=IN&pli=1
App Store:
https://apps.apple.com/us/app/bharatpe/id1329385873
8. MyMoneyMantra
MyMoneyMantra is one of the top 10 most promising fintech companies in India that allows you to find, compare and buy financial products easily. It is a real-time marketplace for credit cards and loans and employs the latest technology like AI and ML to look for the best loan offers available pan India. The platform also acts as a bridge between borrowers and lenders by empowering their customers with the widest and the best possible choice of financial services and products. The mission of the company is to demystify personal finance and offer the right financial services and products to every Indian in an efficient manner.
Founder And History
Founded by Raj Khosla in 1989, it is one of the largest Phygital companies in India. It is a marketplace for credit cards, mortgages and loans and allows customers to compare financial products from over 100+ partners. The company was formed with the docs of providing the best loan deals to its users with the least interest rates. It has helped millions of Indians with their personal finance by providing the right financial services.
Location
It is a New Delhi-based company with headquarters in the same city.
Total Funding
$15.0M
Current Value
$46.7M
Business Model
It is a Phygital company that operates in a B2B2C model as it enables the customers as well as the retailers or merchants or shopowners.
Services Offered
- Credit Cards
- Loans
- Financial tools
- Credit Scores
- Health and Life Insurance
Subscription
There is no subscription and the services offered are free.
Website
https://www.mymoneymantra.com/
Online Presence
https://www.linkedin.com/company/mymoneymantra
https://twitter.com/mymoneymantra
https://www.facebook.com/mymoneymantra/
Personal Managers Availability
No
Helpful Videos
MyMoneyMantra
App Link
Google Play Store:
https://play.google.com/store/apps/details?id=com.mymoneymantra.customer.app
App Store:
https://apps.apple.com/in/app/mymoneymantra-loans-credits/id1568452714
9. Cred
Cred is a credit card bill payments fintech company that is reward-based and provides exclusive offers and premium experiences. It is an app that helps users to manage various credit cards and also analyses their credit scores. Members with good credit scores get rewards on credit card bill payments through their app. This fintech platform also allows users to make payments towards house rents and also avail credit lines for the short term. Financial planning by fintech companies leaves a lot to be desired but with Cred it is not so. The system is AI backed and keeps track of the entire journey of the credit card payment.
Founder And History
Cred is one of India’s top-ranked innovative startups that was founded in 2018 by Kunal Shah. He started this company with the simple goal of developing a platform that could make life more systematic. The focus was mainly on those people who were responsible citizens who paid taxes on time and had good credit scores. He felt that this segment of the population was not served well and wanted to provide more benefits and privileges to those who made timely credit card payments and also make them simple and hassle-free.
Location
It is a Bengaluru-based company with headquarters in the same city.
Total Funding
$1+ billion
Current Value
$6.5 billion
Business Model
The company follows a B2B business model. It is a type of e-commerce where there is an exchange of information, products or services between businesses instead of between a customer and a business. It also follows an app-based business model where a user-friendly app is designed which allows users to pay their bills and do more.
Services Offered
- Credit Card Bill Payments
- Real-time credit card management through CRED Protect
- Cred Rent Pay
- Credit Store for members only
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
Personal Managers Availability
No
App Link
Google Play Store:
https://play.google.com/store/search?q=cred&c=apps&hl=en_IN
App Store:
https://apps.apple.com/in/app/cred-upi-bills-credit-cards/id1428580080
10. Paytm
It is one of the most popular payment gateways in India. It is one of the biggest fintech companies in India that offers a comprehensive range of financial services including digital payments, UPI transactions, wallet services, e-commerce features and more. It is a leader in QR-based digital payments and with Paytm Payment Bank one of the biggest digital banks in India, it brings to its customers financial and banking services to its users. This fintech company did not rest on its laurels and continues to provide new services and the latest being Paytm Money which is an investment platform for managing personal finance.
Founder And History
Paytm short for Pay Through Mobile was founded in 2010 by Vijay Shekhar Sharma. In its initial days, it was an e-commerce website and an app that allowed users to make online payments. Over time, it widened its services to provide wallet services, recharge facilities and other e-commerce features. The company was started with the vision of providing innovative financial services and transforming the way people interact and transact with money as well as driving inclusion. The company has achieved to do this and strives to do more.
Location
It is a Noida-based company with headquarters in the same city.
Total Funding
$6.3 bn
Current Value
NA
Business Model
The company follows many business models including B2B, B2C, product and service based model.
Services Offered
- Payments (Bill Payments and Online Recharges, Online Payments, In-store Payments, and Send Money to anyone)
- Ticket Booking (Movies, flights, train and bus tickets)
- Financial Services (Insurance, Loans, Credit Cards and Paytm Money)
Subscription
There is no subscription and the services offered are free.
Website
Online Presence
https://www.facebook.com/Paytm/
https://in.linkedin.com/company/paytm
https://in.linkedin.com/company/paytm
Personal Managers Availability
No
Helpful Videos
NA
App Link
Google Play Store:
https://play.google.com/store/search?q=paytm&c=apps&hl=en-IN
App Store:
https://apps.apple.com/in/app/paytm-secure-upi-payments/id473941634
Technology At Your Fingertips: Fintech Personal Finance Management Companies
Personal finance sector is rapidly evolving. Many Fintech companies have jumped on this bandwagon and have created platforms using cutting-edge solutions. There are very few that have helped the cause. The above are India’s top 10 fintech companies that have changed the way how personal finance is managed and have empowered people to take control of their finances with ease and greater insight.
Which of the above have you used or plan to use? Let us know in the comments!
Thinking of investing your hard-earned income but unsure of the process? Check out our article Top 10 Best Wealth Management FinTech Companies In India for more info.
Frequently Asked Questions About Personal Finance Management FinTech Companies
1. Are fintechs considered financial institutions?
Yes. Fintech is the use of technology to provide financial services or products to customers. It can be in the areas related to finance like insurance, investment, banking, etc
2. What is the difference between fintech and banks?
Fintech is the short form of financial technology and is used when financial services are enhanced with the use of digital technology. The primary goal is to provide a convenient, accessible, personalized and seamless experience to users using the latest technology.
Banks on the other hand are more traditional and is a specialized financial organization where it lends money, accepts deposits, and provides other services. The emphasis is more on risk management and security.
3. Which are the ten best fintech companies in India that provide personal finance Management?
BankBazaar, Bajaj Finserv, Credilio, PhonePe, Wishfin, MoneyView, BharatPe, Cred, Paytm and MyMoneyMantra are the ten best fintech companies in India that provide personal finance Management
4. Which financial services do fintech companies provide?
Some of the financial services the fintech companies provide are financial advisors, digital bill payments, loan apps, investment apps, credit score calculators and more.
5. Is GPAY a fintech company?
Yes. GPay is a fintech and payment company.