FinTech sector leads 30 startups in Future Unicorns valued at $11.4 bn

24 Jun 2024 CW Team

According to the ASK Private Wealth Hurun India Future Unicorn Index 2024, India hosts 30 future Unicorns in the FinTech sector, defined as startups founded after 2000 with a valuation of $1 billion or more. Among these, consumer lending emerges as the dominant subcategory, comprising more than half of these future Unicorns.

The FinTech sector holds a significant portion of the total value of future Unicorns, totaling $11.4 billion, which constitutes 20 per cent of the overall value, as per the index.

It was noted that Money View is distinguished as the most valuable FinTech Gazelle, indicating startups likely to achieve Unicorn status within the next three years. JustPay leads as the most valuable FinTech Cheetah, representing startups expected to reach Unicorn status within the next five years. Collectively, the 30 startups featured in the index have secured a total investment of $5.7 billion.

During the launch event of the ASK Private Wealth Hurun India Future Unicorn Index 2024, Rajesh Saluja, managing director and CEO at ASK Private Wealth, remarked that the focus of future technological developments has shifted from FinTech towards Deeptech. He emphasized that significant startup activities are expected in sectors such as Electric Vehicles (EV), Green Energy, and Semiconductors, driven by the overarching theme of Climate as the predominant trend of the decade.

The FinTech sector leads the index with 30 companies, followed by SaaS (Software as a Service) with 20 companies and the e-commerce sector with 15 companies. Together, FinTech, SaaS, and e-commerce account for 43 per cent of the companies featured in the index, highlighting their critical role in the Indian startup ecosystem.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..