Women Are At The Helm Of Booming Fintech Industry

Fintech in India has come a long way. What once seemed like a passing trend- think Paytm, UPI, and digital lending platforms- has now become as essential as your morning cup of chai. But here’s what I have observed: while fintech is booming, there's one story that doesn’t get nearly enough airtime- the women workforce driving this revolution.

Breaking Down the Numbers: The Gender Gap

According to NASSCOM’s 2022 report, women make up only 20% of India’s tech workforce. Unfortunately, the fintech industry is no different. Despite its rapid growth, valued at $150 billion by 2025, women are still largely side-lined in this space. Only 9% of Fintech startups are women-led, and just 5% of leadership roles are held by women. To make matters worse, a meagre 2% of venture capital funding flows into women-led startups.

But here's the plot twist: ‘Change Is Happening’. Women are no longer just participants- they're leading the change.

The Shifting Landscape: Women at the Helm

The future of Fintech in India is changing, and women are leading the way. A growing number of startups- 18%, in fact- are now women-led. Industry leaders like Radhika Gupta, Nidhi Gupta, and Neha Motwani are paving the way for others to follow.

Women aWomen are no longer just in the background; we are defining the future of fintech. And this shift is only going to accelerate.re no longer just in the background; we are defining the future of fintech. And this shift is only going to accelerate.

Why Women Are a Game-Changer for Fintech

So, why are women essential to the future of Fintech? The answer is simple: ‘Empathy’. Women inherently understand the financial challenges faced by other women - especially underserved groups. Whether it's managing household finances, planning for long-term savings, or securing credit in a way that doesn’t penalise them for life’s inevitable disruptions, women are building Fintech products that speak directly to the needs of women.

Take ZestMoney, co-founded by Lizzie Chapman. This platform is revolutionizing access to credit, especially for women in rural areas, by offering easy-to-use, affordable financing options. Or look at Finbox, co-founded by Shivani Siroya, which focuses on providing credit solutions tailored to women-led small businesses in India.
These women are not just creating Fintech products; they're creating a better future for women by solving real-world financial problems.

Policy and the Power of Support Systems

The Indian government has begun to take action, recognising the gender gap in Fintech. Initiatives like Startup India are specifically aimed at empowering women entrepreneurs, offering mentorship, funding, and resources to help them thrive. One such initiative is She Leads India, a platform connecting female entrepreneurs with investors and mentors who can offer the guidance and support needed to scale up.

As someone who’s mentored women in tech and entrepreneurship, I can’t stress enough how vital mentorship is. It’s not just about business strategy; it’s about emotional support, confidence, and breaking through the barriers that often hold women back in business.

Crafting an Inclusive Fintech Ecosystem

In my experience, women are among the most resourceful and resilient leaders- when given the right tools. And right now, Fintech is offering women the chance to lead the charge and reshape the industry. Whether they’re entrepreneurs, engineers, or investors, women are poised to drive the next wave of Fintech innovation.

However, for this transformation to fully take root, we need to create pathways for more women to enter the space. We need more mentorship programs, funding opportunities, and systemic change.

The Bottom Line: Women are the future of Fintech

The future of Fintech isn’t just about digital wallets or AI-powered algorithms. It’s about creating a financial ecosystem that’s inclusive, fair, and accessible to everyone. And the women leading the charge are making sure that happens.

As more women take on leadership roles in Fintech, we’ll see an industry that reflects the diverse global population it serves. The future of Fintech is undeniably women- and that future is happening RIGHT AWAY!

Authored by Dipali Padia, Director of Business Development at Neokred. Views expressed by the author are their own.