India Fintech Growth Accelerates With Women Leadership

India’s economic prowess is on the rise, and the country's growing startup ecosystem is making a significant contribution to this growth. While the country’s startup ecosystem is bringing up new innovations in numerous industries like technology, Artificial Intelligence (AI), FMCG, Healthcare, and others, the fintech sector is quietly becoming one of the world’s most innovative sectors. Once dominated by men, the fintech industry is witnessing a rapid increase in involvement by women, whose innovative thinking, critical thinking, and capabilities are transforming the fintech ecosystem at scale.

The role of women leaders in finance is directly translating to newer, more ambitious business ideas that are contributing towards the country’s financial services ecosystem. From venture capital, financial rewards to extending credit lines and payment ecosystems, these startups highlight the capabilities, along with the new-age thinking of these industrious women. As a result, they are not only becoming successful in transforming India’s fintech ecosystem but also motivating the next generation of women to join and build in one of the country’s most vibrant startup sectors in the future. Let’s take a look at 5 of these women leaders who are transforming India’s fintech ecosystem with their industriousness, innovation, and capabilities.

1. Roshni Aslam, Co-Founder, GoSats

India’s first rewards-based app that provides its users with Bitcoin and Gold on their purchases, GoSats is transforming how Indians make online transactions at scale. With Roshni Aslam’s role as Co-Founder, GoSats has made significant strides since its inception, accumulating over 1.1 million users so far. The company is currently working in its ambitious plan of doubling its user base by the end of 2025.

Aslam’s ingenuity and innovation have been among the driving forces behind GoSats’ rise to prominence. A post-graduate in Accounting and Finance from the University of Strathclyde in Glasgow, she has extensive experience of working within the alternative finance sector, with particular emphasis on virtual digital assets (VDAs). She has also worked as an Investment Analyst and a Research Analyst at some of the most prominent organizations within alternative finance, before taking the leap to establish GoSats.

2. Paroma Chatterjee, CEO, Revolut India

One of India’s most innovative women entrepreneurs, Paroma Chatterjee, is the CEO of Revolut India, a fintech company that offers a digital payments platform with a prepaid wallet with UPI, domestic and international Visa cards, budgeting tools, as well as insurance. Revolut’s services can be accessed with its mobile app, and its unique offering assists both domestic and international payments. The company also has a reward program that has become highly popular among its target audience.

An alumna of St. Xavier’s College, Kolkata, and Indian Institute of Management, Lucknow, Ms. Chatterjee began her career at Procter & Gamble, before working her way up in the ladder with ICICI Bank, Kotak Mahindra Bank, Bharti Airtel, Flipkart, and others, before joining Revolut India as the Chief Executive Officer in April 2021. Under her leadership, Revolut has successfully expanded its operations in India, while also garnering a massive user base in the country.

3. Hardika Shah, Founder & CEO, Kinara Capital

Working with the goal of assisting and transforming SME owners in India, Hardika Shah is the founder and CEO of Kinara Capital, a fintech firm that provides collateral-free loans to small businesses. As the founder, Shah’s vision of financial inclusion of small business owners has resulted in international recognition, as she was named in Forbes' India’s Top Self Made Women 2022 list, along with the Women Transforming India award by NITI Aayog.

Before her stint with Kinara Capital began, Shah spent more than 20 years working as a management consultant. She also has an MBA from Columbia Business School and UC Berkeley’s Haas School of Business. Her originality and critical thinking have been the catalysts of her career growth, leading to an impact on numerous small business founders in India.