Business Standard

Why can fintech sector ecosystem in India survive funding winter

The fintech space has witnessed a 60 per cent year-to-date slump in funding


Ajinkya Kawale Mumbai
The story of the Indian fintech sector, when it comes to raising funds and surviving the funding winter, is not much different from other sectors. However, the sector is expected to perform better due to some inherent foundational pieces, shared by fintech experts.

The ongoing funding winter has witnessed a 60 per cent slump in year-to-date (YTD) funding, from $3.7 billion in 2022 to $1.3 billion in the ongoing year. 

“Jan Dhan accounts, Aadhaar, the number of smartphones that people have today, and the access to data have propagated the India story in terms of the public digital infrastructure. The

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First Published: Jun 28 2023 | 4:29 PM IST

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