The report can be downloaded at bottomline.elevationcapital.com

Fintechs have truly come of age in the last decade. They have made meaningful on-ground impact and captured ~3% share of a large and growing financial services revenue pool in India. This meeting of technology with financial services has both created value at-scale, and catalyzed the modernization of the entire financial services ecosystem.

With our unique vantage of investing in fintech and financial services over the last 20+ years, we believe that fintechs are at an inflection point. There is a perfect storm brewing - our fast-growing digital population, world-class digital public infrastructure (DPI), proactive regulators, and an ecosystem that is engaging with fintechs actively.

In this backdrop, we feel privileged to present the inaugural version of 'The Bottomline' – our point of view and blueprint on India’s fintech landscape. We present our views across three parts:

1) The Macro View on the history and future of fintech value creation

2) 10 Thematic Deep-dives that we believe to be the blueprint for this value creation

3) Key Capabilities to be built by Fintechs to capture this value and become enduring enterprises

The report captures Elevation’s deep thesis on the fintech sector, insights from a comprehensive survey of 70+ industry experts and in-depth conversations with ~30 industry leaders from prominent fintechs and financial services players. In addition, our knowledge partner, McKinsey and Company, provided the analytical fact base for the report, leveraging their knowledge of the Indian financial ecosystem.

We believe that fintechs (and tech-led BFSIs) will play an outsized role in India’s ambitious economic and social aspirations over the next decade. This report captures the Why (Section 1), What (Section 2) and How (Section 3) of that journey.

Please reach out to us for deeper discussions or if you are building in any of the themes we outline in this report.