While the current valuation of the industry is estimated at $60 billion, the industry's growth has been undeterred by the pandemic, as it has seen the emergence of 3 new Unicorns and 5 new Soonicorns since January 2020. But more significantly, over the next five years, the FinTech industry is expected to score a massive jump in its strong upward trajectory.
“We believe India's FinTechs are at the precipice of significant value-creation of $100 billion over the next five years,” said Prateek Roongta, Managing Director and Partner, Boston Consulting Group India. “To actualize this potential, the industry would require investments to the tune of $25 billion till 2025. Consequently, the number of Indian FinTech Unicorns will more than double over the next few years,” he said.