Welcome back to another exciting edition of FinTalk. 🥳
Ready for a bouncy 300-billion-dollar ride into the Neobanking World? 🎢
We know you are. 😃
If not, you’ll be losing out on the 47.1% growth projection and the $333.4 billion market value in 2026? 📈
Neobanks have transformed banking as we know it. With mobile-first, customer-centric, and low-cost strategies, they have bridged the experiential gap between traditional banking and evolving customer expectations. Today businesses and legacy banks aspire to join the neobanking revolution to simplify and expedite digital banking anywhere, anytime.
Are you looking to launch your own neobank?
Follow the simple steps below. Don’t worry, this is not unqualified advice.
We’ve drawn these steps from our experience of enabling neobanking services to players such as Zenpay, Niyo, and Finin.
Remember, the profitability of your neobank will be determined by the Customer Lifetime Value (CLV)/ Customer Acquisition Cost (CAC) ratio. The higher the CLV/CAC ratio, the greater will be the income generated per new customer. So, the key is to keep your customers happy. 😃
To know more about launching a neobank from scratch, click here.
The Indian fintech industry has raised more than $10 billion in the last 5 years. This funding fiesta is estimated to grow at 22% to $84 billion by 2025. 📈
And Indian neobanks top the industry funding average with loadsamoney. 💸
Check out the top neobanks that bagged huge funding through venture capital and private equity deals. 💰
1.RazorpayX raised $375 million in a new funding round led by US-based investors TCV, Lone Pine Capital and Alkeon Capital, after which its valuation grew to $7.5 billion.
2.Niyo raised $100 million as a part of its new funding round, led by Accel and Lightrock India.
3.Open raised $100 million in a funding round led by Singapore's sovereign wealth fund Temasek, along with participation from other new investors like tech major Google, card operator Visa and Japan's SBI Investment.
4.Jupiter raised $86 million as a part of its Series C funding round co-led by Tiger Global Management, Sequoia Capital India at a valuation of $711 million.
5.Fampay raised $42.9 million in three funding rounds with 16 investors, that includes Elevation, Sequoia Capital India, Venture Highway, General Catalyst, Combinator, and GFC.
Now, these are not all. There are several other Indian neobanks that are taking the industry by storm.
Curious to know who and how?
Check out our article on top 14 neobanks in India.
That's it for now. See you again soon with all the need-to-know fintech updates!
Stay tuned. Stay curious.
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