Fintech has evolved from its early roots of finding ways to easier move money to a robust, thriving ecosystem of platforms that offer services that range from simple payments to integrated banking solutions, and even niche solutions for specific needs.

With a market size projected to grow to over US$6 billion by the year 2030, there are vast opportunities in the fintech space. Let’s talk about six fast-growing startups that are making their way ahead of the pack.

Reevoy

Founded by IIT/IIM/ISB alumni Ankur Khetan, Ishan Dadhich, and Mohit Agarwal, Reevoy is an international digital sourcing and financing platform for the fashion and lifestyle B2B global trade industry with a US$300 billion opportunity.

Reevoy has clocked over US$30 million annualised gross merchandise volume (GMV) value and US$2.4 million annualised revenue run-rate as of March 2022, working with fifteen global brands and over 40 factories. They also have a strong pipeline of more than ten global brands and over 70 factories ready to get onboarded.

With that, the startup is on track to get to approximately US$100 million annualised GMV and US$7 million annualised revenue run rate by December 2022. It has factored US$20 million over 1,000 invoices with zero non-performing assets and has an outstanding book of approximately US$4 million. The company is on track to close a US$5 million debt line at a low cost to further accelerate its platform growth.

Its asset-light, working capital enabled, and export-focused model makes it scalable and defensible to capture the market as a clear leader.

Reevoy is backed 9Unicorns, Better Capital, and marquee angel investors including Kunal Shah, Anupam Mittal, Aman Gupta, Alok Bansal and Himanshu Aggarwal.

Also Read: Pocket power: 27 personal finance startups in SEA to help you manage money

OneStack

OneStack is building a plug-and-play platform to offer neobanking and fintech solutions as a service. Its objective is to make every rural and small bank a neobank by empowering and digitising all the long tail banks in the country.

It plans to onboard the banks to the National Payments Corporation of India, an umbrella organisation for operating retail payments and settlement systems in the country, and offer all financial services to the banks to retain and acquire new customers.

OneStack is currently building services to start working with consumer internet companies by enabling embedded finance for large e-commerce companies.

Its technology enables any bank and consumer internet company to go live in as short as a few days, and offer neobanking and/or fintech services. OneStack helps its customers build backend product platforms and offer white labelled mobile applications for neobanking services. It aims to digitise over 95,000 cooperative banks and 380 million users that stay in non-metros.

The startup has already raised a seed round from 9Unicorns, AngelBay, Faad Network, and angel investors Kunal Shah and Abhishant Pant. They plan to raise US$4 million with Venture Catalysts and 9Unicorns as key co-investors.

Crypso

Crypso is a vertical social network for Indian crypto users to build a social trading application.

Founded in October 2021 by Suraj Kalwani, Ravi Chirania, and Rakesh Raman, their goal is to make a billion Indians participate in the crypto and Web3 revolution.

With this platform, users get to see the portfolio and trading strategies of their peers and influencers, join community group chats around areas of their interest, share their portfolio with communities for feedback, and execute trades based on social signals.

The platform has raised US$3 million to build a public product that is expected to launch in May 2022. Currently, it is in closed beta and testing the product with a strong community of over 2,000 users on Telegram and Discord.

Crypso is focused on young Indians between the ages of 18 to 35, who are driven by economic incentives to earn huge returns on crypto investments. The platform provides one-click execution of trade signals from crypto experts, influencers, and traders.

Also Read: How this homegrown fintech is helping Singaporeans with alternate investing

Insurance Samadhan

Insurance Samadhan resolves insurance grievances like mis-selling and claim rejection for life, health, and general insurance.

The company has resolved more than 4,500 grievances in the last three-and-a-half years, with an app that assists policyholders in filing their claims, and maintains and services their insurance portfolio.

Insurance Samadhan founders Deepak Bhuvaneswari, Shilpa, and Shailesh –who are currently the CEO, COO, and Insurance Head, respectively– put together domain expertise of over 50 years. Their other team members Sanjay, their Legal head, comes with 25 years of legal expertise, and their CTO Ravi has 12 years of experience,

The startup has raised US$1 million in seed and pre-seed rounds, and it plans to raise US$10 million soon.

Glimpay

Glimpay simplifies banking for India’s 100 million creators, freelancers, influencers, solopreneurs and micro-businesses.

Compared to corporate employees, these segments of working professionals currently have no access to all aspects of finance in one place and use fragmented financial tools and services – a gap that Glimpay aims to bridge.

Most of these working professionals use traditional solutions to accept payments that jumble with other transactions, which often means minimised clarity in earnings and job expenses that make financial and tax planning difficult.

What Glimpay is creating is a seamless Earnings Management Platform to redefine credit for Independent Professionals in India.

They are looking to raise US$1.5 million for aggressive user acquisition, hiring a small team for product development, and building Applied Data Science solutions.

AlgoBulls

AlgoBulls is a platform created to provide automated, customised, and personalised stock market trading experiences.

Founded in 2019 by Pushpak Dagade, Jimmit Patel, and Suraj Bathija with an aim to provide democratisation of trading solutions for the retail audiences who otherwise could afford to access such high-end technology, AlgoBulls provides an end-to-end solution to its users with ready-to-use strategies and market knowledge in an automated form without any need of manual intervention.

The Mumbai-based startup is operational in over 15 cities such as Mumbai, Delhi, Pune, Hyderabad, Bangalore, Chennai, and Jaipur in India.

The company intends to expand their client reach to 150 cities. It also plans to launch its product in the US within 2022.

To get to know these six exciting startups better, catch Demo Day 2 (DDay2) organised by Venture Catalysts and 9Unicorns. You can access the showcase by registering here.

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This article is produced by the e27 team, sponsored by Venture Catalysts and 9Unicorns
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