US-based private equity investor Sequoia Capital expects valuations for India’s financial services providers to more than treble to $2.5 trillion by the end of this decade, with fintech firms grabbing a fifth of that pie as global investors line up to buy a slice of the fast-growing sector.
Valuations for India’s fintech companies should jump 10 times to $500 billion by 2030 as the traditionally underbanked South Asian nation witnesses the highest digital adoption globally with retail online transactions growing five-fold in the last two years.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
“That’s the opportunity — 10 times in nine years, that’s what is exciting,” said Ishaan Mittal, managing director at Sequoia Capital India at a Razorpay organized conference Thursday. “That’s why Sequoia Capital India partners with many many fintech companies” in the country.
Sequoia Capital has several investments in Indian start-ups. Unicorns like Groww, Razorpay and Pine Labs Ltd. are among dozens of top firms that global investors are eyeing in the lucrative financial services space.
Source: Business Standard
Can’t stop reading? Read more
Apollo, CVC, Ares, and Sixth Street circle Serie A media rights stake
Apollo, CVC, Ares, and Sixth Street circle Serie A media rights stake Private equity firms...
Neuberger Berman leads continuation vehicle for Tailwind’s Axis Portable Air
Neuberger Berman leads continuation vehicle for Tailwind’s Axis Portable Air Neuberger has...
Chicago Atlantic expands into emerging markets private credit amid US investor pullback
Chicago Atlantic expands into emerging markets private credit amid US investor pullback Chicago...