Tracxn’s Annual India Fintech Report 2024: India Ranked 3rd in Global Fintech Funding

Current Context: The Tracxn Annual India Fintech Report 2024 was released on January 13, 2025 by Tracxn, a market intelligence firm.

• Key Highlights of the Report:
• Funding Overview: Despite a 33% decline in funding compared to 2023, India ranked third globally in fintech funding with $1.9 billion raised in 2024.
• Sector Performance: The digital lending solutions dominated the funding, accounting for 64% of the total funding.
• Notable Deals: DMI Finance raised $334 million, and Credit Saison raised $144 million.
• Unicorns and IPOs: Two new unicorns, Money View and Perfios, emerged in 2024, and there were a record eight IPOs.
• Geographical Insights: Bengaluru, Mumbai, and Delhi were the top hubs for fintech funding.
• Investor Activity: Peak XV Partners, LetsVenture, and Y Combinator were the top contributors.

Question:

1 As per the Tracxn Annual India Fintech Report 2024, what was the total fintech funding raised by India in 2024?

• A) $2.5 billion
• B) $1.9 billion
• C) $3.3 billion
• D) $1.5 billion

Answer: B) India raised $1.9 billion in fintech funding in 2024, despite a 33% decline compared to 2023. This placed India third globally in fintech funding.