Funding winter shows signs of thaw but fintech industry is under scrutiny

“The days of fintech vanity business models are over; and the focus is now on governance and the road to profitability,” says Rohan Lakhaiyar, partner (financial services-risk) at Grant Thornton Bharat. A lot is at stake.
 

The Centre for Advanced Financial Research and Learning (Cafral), in its first ‘India Finance Report (IFR)’ released last November, said of the 14,000 startups born between 2016 and 2021, close to half were fintech. It projected lending by these entities to exceed banks’ by 2030. This may have to be looked afresh.
 

Tracxn – a data intelligence platform for private market research – has