Zinnov, a leading management consulting firm conducted a recent survey that said that India is witnessing tremendous growth in fintech investments.

The study conducted on the fintech start-up landscape in India suggested an exponential rise in the number of Fintech start-ups over the last three years with a total investment in the sector crossing over USD 1.3 billion.

According to the report, it analyzed 180+ Fintech start-ups across India and puts forward insightful revelations on the Fintech sub-segments. The percentage wise split up revealed that ‘the payments segment has the highest number of start-ups at 33%, followed by aggregators at 29% and by financial services at 15%. P2P platforms, crowdfunding and Bitcoin start-ups account for the rest.’

Indian virtual currency market has seen a lot of development recently. In March, Coinsecure, India’s leading bitcoin exchange, announced its partnership with Netki which will allow its bitcoin wallet users to create their own wallet names. A month later, bitcoin exchange in the country, Zebpay, has crossed INR 100 crore turnovers in just 10 months of its operation on the back of rising popularity of the digital currency in India.

There was also a mobile application launch for both Android and iOS devices by Unocoin, an India-based Bitcoin startup, which is called “Unocoin PoS”. This app makes it easier for physical stores in India to accept bitcoin for products and services.

Founded in 2002, Zinnov is headquartered out of Bangalore, the company has built in-depth expertise in engineering and digital practice areas. Zinnov serves clients in Software, Automotive, Telecom& Networking, Semiconductor, Consumer Electronics, Storage, Healthcare, Banking, Financial Services & Retail verticals in US, Europe, Japan & India.