Fintech has emerged as the fastest-growing tech sector, says Deloitte’s report

Fintech in India is being reported as the fastest-growing tech sector, since according to the Deloitte’s report, aggregated revenue of the top 10 Fintech firms has jumped from ₹21 crore to just under ₹400 crore, recording a growth of about 20x between 2018-2020.

Fintech companies in India have also grown a staggering 13x to 70x over the last two years, a testament to the growth of the sector in the country, according to the report. Moreover, this year has also seen a diverse sectoral representation with several companies across data analytics, digital transformation, digital marketing, and other emerging sectors which are likely to see continued growth over the near term.

Despite the pandemic-affecting venture capital funding in the first half of last year, the Fintech sector still managed to attract closer to $2.7 billion in equity funding, according to a recent report from management consultancy KPMG.