According to a Tracxn report, funding for Indian fintech startups increased by 59% quarter-on-quarter, reaching $551 million in Q1 CY2024 from $346 million in the previous quarter. Despite a year-on-year decrease of 57%, India ranked third globally in fintech funding, following the US and China. Neha Singh, founder of Tracxn, highlighted the sector’s innovative potential, emphasizing its role in driving India’s economic growth and positioning the country as a leading global fintech player. The surge underscores sustained investor interest and the significance of nurturing startups, aligning with the Startup India Initiative.
Indian Fintech Startup Funding Surges 59% in Q1 CY2024: Tracxn Report
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