India is the hub of Fintech companies and is one of the most active Fintech markets in the world. India and China lead in investments made in this sector. India as an economy has been undergoing a sea change with digital transactions and online payments becoming more and more mainstream. This change has been propelled by two missions of Indian Government- Financial inclusion and Digital India. Though India still has a long way to go to become truly cashless, digital financial services have carved their niche here.
Fintech Asia has unveiled top 50 Fintech companies in India which includes FlexiLoans. There are many familiar names in this list, such as Bank Bazaar, Paytm, Capital float, PolicyBazaar etc. FlexiLoans with funding of 15 million is a known player in the lending segment. It was started in 2016 by four alumnus of Indian School of Business, 2009 batch- Deepak Jain, Abhishek Kothari, Ritesh Jain, and Manish Lunia. FlexiLoans provides a collateral free loan to micro, small and medium-sized businesses that are not able to avail loan from banking channels due to their stringent evaluation procedures. FlexiLoans and similar Fintech companies execute the entire process beginning from application to approval online, and within 48 hours.