 "Fintechs in the country have grown in the last decade, both in the number of entities and scale. The key growth sectors have been payments, credit, insurance and wealth management, fuelled by angel investors, venture capital (VC) and private equity.")
Venture capital (VC) funding in India grew 50.4 per cent year-on-year in the first three quarters of calendar year 2024 to reach $8.3 billion, according to a report by GlobalData.
The data analytics and consulting company attributed the surge to an increase in deals valued at more than $100 million each.
A total of 883 deals were announced between January and September 2024, marking a 7.3 per cent rise in volume compared to the same period in 2023. The disclosed value of these deals grew from $5.5 billion in 2023 to $8.3 billion in 2024.
The uptick was helped by high-value deals that included $665 million and $340 million raised by Zepto in two separate funding rounds, $300 million by Meesho, $216 million by PharmEasy and $210 million by PhysicsWallah, according to GlobalData.
The number of “big-ticket” deals jumped from 10 in Q1-Q3 2023 to 15 in the same period of 2024.
“The challenge that the Indian start-up ecosystem faced in raising money in 2023 seems to be fading away as VC funding activity has continued to improve this year," said Aurojyoti Bose, lead analyst, GlobalData, "Going by the trend, it is evident that India remains an attractive market for VC firms and it seems now there is a shift in investors’ approach from cautiousness to cautious optimism.”
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India had a 7.2 per cent share in global VC deals during Q1-Q3 2024 and its contribution to the total disclosed value was 4.5 per cent.
“India, apart from being a key Asia-Pacific market standing just next to China, is also among the top five investment destinations globally for VC firms,” said Bose.
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 "Fintechs in the country have grown in the last decade, both in the number of entities and scale. The key growth sectors have been payments, credit, insurance and wealth management, fuelled by angel investors, venture capital (VC) and private equity.")
