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The FinTech revolution in India | Sharad Sharma

“FinTech in India is going to be about inclusion – about taking financial services to people who are not able to consume it – people who don’t have a mutual fund account today, who don’t have insurance or loan (either as a small business or individually), don’t have a credit card but still being able to do digital payments. This is the revolution that we are talking about. And, this revolution is going to be very different from the revolution that you hear about from the west,” says Sharad Sharma, Co-founder of iSPIRT Foundation.

Sharad advises investors to train themselves for being able to parse this messaging from various places. He believes that the more an angel can see this distinction, the more effective he/she will be in picking out opportunities going forward. 

“So, what is that difference between FinTechs in India and those in other geographies? If you go in the west, they are all talking about ‘can we disrupt the incumbent banks and replace them with something else’. That is the investment philosophy in the US. China was actually the living embodiment of this disruption – new-age fintech players took over incumbent institutes. But in India, the FinTech model was about building penetration by infusing incumbent finance institutes with turnkey technologies,” says Sharad. 

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