18 Fintechs in Chennai
You Should Know About

Monexo is an RBI-registered P2P lending marketplace for personal loans. It brings borrowers needing credit for businesses, individual needs, and lenders to invest in SMEs. The company operates on a 100% online platform. Recently, they have launched a digital investment app that enables investors to earn 13% per annum on their investments and, in turn, beat inflation. The 13% earnings are two times more than FD returns in any financial institution. “The app also is a way to build credible credit scores by farmers, students, women entrepreneurs and salaried employees with affordable loans.” says company CEO Mukesh Bubna.

DigiMoney Finance, founded by Boobalan Madhavan and Gorav Gupta, is an innovative technology-based fintech and RBI-licensed NBFC lending solution for individuals and small and medium businesses owners seeking private finance, a combination that enhances customer journey. As a company run by professionals from the financial services industries, its mission is to make private financing accessible, 24/7, all 365 days with utmost convenience and speed, making “Lending as a Service”. The exciting fact about DigiMoney is they can disburse a loan in less than 10 minutes. They have processed more than 100,000 loan applications till date. Moreover, their mobile app has more than 100,000 downloads on Google Play. DigiMoney Finance Team has also been recently facilitated by ‘the Honourable Chief Minister of Tamil Nadu Thiru MK Stalin’ in the TN Investor Conclave for their achievement in the Fintech Space. 

Finequs (recently rebranded from Finolet) is leveraging technology with leading banks, lenders and financial institutions to provide financial products to every nook and corner of India. The company’s primary work is to make retail outlets as loan enablers. The financial products that they are focusing on are loans, credit cards and insurance, and introducing more financial products in the future. It has 65+ lending partners, concentrating on providing simple and convenient access to credit products for various credit categories. For making an impact in Indian society through Finequs’ financial inclusivity, the Founder and CEO of Finequs, Krishnan Vaidyanathan, has been featured as “The People’s Banker” in Forbes India’s March’21 edition.

M2P Fintech, co-founded by Madhusudanan R, Prabhu Rangarajan and Muthukumar A, is a world leader in embedded financial infrastructure and serves as a trustworthy tech layer between banks, aspiring fintechs, and other financial institutions. With various solutions in Payments, Lending, and Banking, M2P products assist banks, NBFCs, and internet businesses in entering the market. They have a market presence in more than 11 countries. They have so far completed transactions totalling $10 billion, formed 500+ fintech partnerships, issued 18% of new credit-linked cards, and signed up more than 4,00,00+ digital merchants for QR and UPI payments.

Northern Arc Capital is a financial services platform that offers a broad range of technologically-based solutions to meet the credit needs of emerging markets and small companies. Ashish Mehrotra was recently appointed as MD and CEO in April 2022. Since the launch of its platform in 2009, the business has collectively raised more than INR 1 trillion for its clients. As of March 2021, Northern Arc’s exposure was dispersed across 657 districts in 28 states and 7 union territories in India. It has given out about 6 million loans to retail consumers, including loans to people, households, and small enterprises. They have impacted the lives of 54 million people and enabled finance worth $95 million. Currently, there are more than 225 client partners and 900+ investors.

For companies that receive and accept payments from their clients and suppliers, Ippo Pay serves as a payment aggregator. It offers comprehensive technology that allows for accepting any kind of payment for both offline and online businesses. Founded by Mohan K and Jai Kumar, the company specifically targets small enterprises, independent contractors, home-based business owners, women entrepreneurs, and merchants in India’s Tier 2 and Tier 3 towns to offer regular support and management in their chosen language. It has onboarded about 75000 merchants, among that 65000 are currently active. It has raised funds worth $2.3 million from Better, Coinbase and Blume.

StuCred is an online platform founded by Henna Jain Tatia and Jaijash Tatia, empowering the students of India by offering quick, short-term and interest-free loans. Till date, over 2 L+ students have used their services, and they have collaborated with 7000+ colleges in the country. Recently, they introduced the StuCred Score feature into the app, designed to track students’ financial behaviour. The students can now evaluate their financial capability and improve their financial habits.

Habile Technologies is a fintech company that provides technological solutions to financial institutions such as NBFCs, MFIs and Fintechs in 9 countries. Habile’s product, CloudBankin, is a cloud-based SaaS lending platform that handles the complete end-to-end loan origination to the recovery process. Their customers are able to disburse a loan in 7.5 minutes. They have served 35+ clients till date. In fact, DigiMoney is one of their clients. Financial institutions manage their loan portfolio in a paperless manner using their product. Interestingly, the core team members of Habile, Mani Parthasarathy, Rajah, Palanisami Muthusamy, Hariharan Govindraju and Alex Lawrence, passed out from the same college, Madras Institute of Technology, in 2006.