Valuations, better access to capital spur fintech players' homecoming

Firms that are looking to shift their domicile back to the country may have to look at a hefty tax bill

Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
 

The reasons are financial regulation, better access to capital, and improved valuations here, according to industry players and experts.
 

Industry experts Business Standard spoke to said this was a rising trend.
 

“The trend will sustain. Ultimately, investors are ready to pay the big tax burden of reverse-flipping since valuations in India are better,” said Vishwas Patel, joint managing director, Infibeam Avenues, and chairman, Payments Council of India (PCI).
 

After Walmart-backed PhonePe changed its domicile to India earlier this year, others followed suit.
 

Groww completed its shift from