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
J.P. Morgan closes $1.44bn flagship private equity fund above target
J.P. Morgan closes $1.44bn flagship private equity fund above target J.P. Morgan Asset...
Levine Leichtman backs USA Industries in new lower mid-market platform deal
Levine Leichtman backs USA Industries in new lower mid-market platform deal Levine Leichtman...
KKR backs Premialab in $220m push into Middle East growth technology
KKR backs Premialab in $220m push into Middle East growth technology KKR has agreed to invest...