Indian fintech funding totaled USD 156.9 million in June 2025, marking a notable decline from USD 210.7 million in May and USD 238.9 million in April. Despite the dip, momentum remains strong across select verticals, especially those solving for credit access, checkout friction, and consumer rewards.
The funding numbers reveal that, while investor caution is evident, targeted capital continues to flow toward fintechs with differentiated value propositions and strong execution models.
FlexiLoans Leads With $45.2 Million Raise
Topping the Indian fintech funding chart this June was FlexiLoans, a Bengaluru-based digital lender focused on small and medium enterprises. The company raised USD 45.2 million from a group of global investors, including Fundamentum, Maj Invest, Accion, Nuveen, and British International Investment.
The significant raise highlights growing interest in digital credit platforms that serve underserved MSMEs with alternative data and fast underwriting.
Popclub, GoKwik, and Sahi Round Out the Top Five
Popclub, a UPI-based cashback and rewards platform, secured USD 30 million from Razorpay. The app is gaining attention by integrating loyalty into everyday digital payments.
Next was GoKwik, which provides checkout optimisation tools for e-commerce merchants. The company raised USD 13 million from RTP Global, Z47, Peak XV Partners, and Think Investments — a sign of investor belief in post-COVID digital commerce enablers.
In fourth place, Sahi, a budgeting and personal finance platform, raised USD 10.5 million. The round was led by Accel and Elevation Capital, as investors bet on India’s expanding middle-class financial planning needs.
Finally, RenewBuy, an online insurance distribution platform, bagged USD 10 million from 360 One and Apis Partners, reflecting continued interest in digital insurance amid regulatory momentum and market maturity.
From Seed to Scale: A Mixed Deal Landscape
In total, 19 funding deals were recorded in June. Interestingly, only three were seed-stage, indicating that while early-stage activity exists, investors are mostly favoring Series A to growth-stage companies that have already validated product-market fit.
This shift aligns with broader funding trends seen in 2025, where fintechs need clear traction and monetization strategies to win capital.
Funding Trend: High in April, Gradual Decline Since
Indian fintech funding in 2025 saw a healthy start, rising from USD 100.38 million in January to nearly USD 239 million in April. However, the sector saw a drop to USD 210.7 million in May, followed by this month’s USD 156.9 million.
While this cooling reflects macroeconomic caution, it’s not indicative of a collapse. Instead, it signals a flight to quality and sustainable fintech models.
What’s Driving the Deals?
Recent regulatory shifts, the growing UPI adoption, and deeper smartphone penetration are helping fintechs address real pain points across credit, insurance, commerce, and budgeting. Furthermore, with NBFCs adopting AI, new-age lenders are becoming faster, smarter, and more inclusive — and that’s fueling investor interest.
Future Outlook: Focused Capital, Selective Bets
While overall volumes may dip, targeted fintechs will continue raising capital if they focus on inclusion, infrastructure, and innovation. As the sector matures, expect Indian fintech funding to become more strategic — backing firms that can scale profitably and adapt to regulation.