India Emerges As The Country With The Third Most FinTech Unicorns In 2023

According to Statista, India has ranked 3rd in the world in terms of the number of FinTech unicorns in 2023. While the US and the UK hold the top two positions, India is said to be securing its place as a key player in the FinTech landscape. India is said to have close to 20 FinTech unicorns. These include established entities, like Paytm, Zerodha and Billdesk. According to Tracxn, India’s FinTech sector is said to have faced close to a 70% decline in investments in H1 2023. While the sector raised about $4.3 billion in the H1 2022, 2023 saw about $1.4 billion in investments in its first half in India. The decline is said to be primarily attributed to a downturn in early-stage investments, which plummeted by about 80%, compared to the same period in 2022.

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