Sequoia Capital sees Indian financial firms’ value soar to $2.5 trillion

Dec 10, 2021 | News

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

Sign up

“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