Fintech sector sees 5% y-o-y drop in funding to $889 million in H1 2025
Bengaluru continued to lead the country's fintech funding landscape, as it accounted for 55% of total funding, followed by Mumbai at 14%. Interestingly, in H2 2024, Mumbai grabbed 29% of total funding compared to Bengaluru at 16%.
The highest-valued deal in January-June 2025 was Groww's acquisition of Fisdom for $150 million, followed by Stocko, acquired by InCred Money for $35 million.
IPO activity remained muted in the first half of this year as no fintech companies went public, one new unicorn emerged in the Indian fintech space during the period, consistent with H2 2024, but an improvement over H1 2024, which saw none. Juspay, a payment infrastructure company, became a unicorn in April 2025.
The overall top investors in H1 2025 were Peak XV, AngelList and LetsVenture. In the early stage, which saw a surge in funding, the leading investors were Peak XV, Accel and Bessemer Venture Partners. Blume Ventures, Venture Catalysts and 100Unicorns led investments at the seed stage, while SoftBank Vision Fund, Lathe Investment and Sofina were the top investors in the late-stage round, Tracxn data showed.
Among venture capital firms, US-based Accel led the highest number of investments with 34 rounds, and India-based Blume Ventures added 7 new companies to its portfolio during the period.
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