India Fintech Forum and Amazon Pay Announces Winners of IFTA 2020

Simpl Bags the prestigious Fintech Startup of the Year,

Fintech Leader of the Year 2020 goes to Vijay Shekhar Sharma at The India Fintech Award (IFTA) 2020

• ClearTax won Fintech Scaleup of the Year
• Khatabook won Financial Inclusion Initiative of the Year
• ADVANCE.AI (Singapore) won Best International Fintech in India
• Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin Won Woman Leader in Fintech
• Over 600 applications received from countries including USA, UK, UAE, Switzerland, Sweden ,Sri Lanka, Spain, Singapore, Norway, New Zealand, Netherlands, Ireland, India, Hungary, HongKong, Germany, France, Canada, Brazil and Algeria

Mumbai | 4 December 2020: IFTA 2020 is organized by India FinTech Forum, a not for profit fintech advocacy group since 2016.

IFTA is an annual competition and platform to celebrate and recognise the best innovations from fintech companies around the world. The 5th edition of India Fintech Awards (IFTA) is a joint initiative supported by Amazon Pay, PayU, HAPPY, WazirX, CashRich, TransUnion CIBIL and Deloitte to celebrate global fintech excellence.

Simpl bagged the prestigious Fintech Startup of the Year trophy and The Fintech Leader of the Year award went to Mr. Vijay Shekhar Sharma, Founder and CEO, Paytm.

Five Indian Tech Start-ups have been crowned winners of the 5th edition of the Next Big Idea Contest. 

AssetVault from UK and Khatabook and Nearby Technologies from India have been crowned with Fintech Rising Stars award

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Past winners of IFTA have cumulatively raised over 1.5 billion USD in funding fromtill date.

The program received over 600 applications from across the globe such as USA, UK, UAE, Switzerland, Sweden, Spain, Singapore, Sri Lanka, Norway, New Zealand, Netherlands, Ireland, India, Hungary, Hong Kong, Germany, France, Canada, Brazil, and Algeria.

27 high potential Fintech startups from over 20 countries were shortlisted to present live demos to a high-profile jury from 30th November – 2nd December 2020 to compete for the Fintech Startup of the Year at India FinTech Awards 2020 (IFTA).

The entire assessment framework was developed and managed by Deloitte and MEDICI. The application process kicked off in August 2020, and finalists underwent two rounds of shortlisting by an eminent panel of Judges with vast experience in the world of finance, technology and enterprise. 

MEDICI launched its Banking-as-a-Service 2.0 report at IFTA 2020. Key highlights include factors driving growth, funding and investor activity and global landscape dissected by region.

Keynote Speaker Dr. RS Sharma , Former Chairman TRAI discussed Aadhaar's impact in enabling fintech innovation, and digital diplomacy where India can help other countries set up platforms like Aadhar. He shared interesting anecdotes from his book The Making of Aadhaar: World’s Largest Identity Platform. He said, “Aadhaar provides a financial address where you can transfer money. We have billions of DBT transactions. Just the LPG cylinder subsidy itself constitutes more than a billion transactions per year. One can imagine the scale at which fintech has worked. I’m sure we will see more and more innovations to make the lives of customers easy.The ultimate purpose of innovation is to remove the pain point of the customer“.


India Fintech Forum is proud to present the winners at IFTA 2020:

• Fintech Scaleup of the Year - ClearTax (India)
• Fintech Leader of the Year - Vijay Shekhar Sharma, Founder and CEO, Paytm
• Woman Leader in Fintech - Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin
• Best Fintech Business Lender - Lendingkart (India)
• Best International Fintech in India - ADVANCE.AI (Singapore)
• Best FinTech Ecosystem Partner - Rainmatter Capital (India)
• Financial Inclusion Initiative of the Year - Khatabook (India)
• Excellence in Payments - Paytm (India)
• Best Use of AI in Fintech - Flow (Singapore)
• Best Use of Blockchain in Financial Services - CoinDCX (India)
• Best Innovation in RegTech - Signzy (India)
• Best Innovation in Wealth Management - Upstox (India)
• Best Technology Company for Fintech Solutions - Novopay (India)
• Excellence in InsureTech - ACKO General Insurance (India)
• Most Innovative Fintech Product - Razorpay (India)

Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum said, “IFTA has a tradition of bringing the most innovative Fintech companies on one platform. IFTA 2020 maintained its 5 year old tradition and had brilliant startup founders demo their product innovation. Several industry thought-leaders came together to share insights on topics ranging from super-apps to the rise of neo-banks, innovations in digital lending, crypto as an asset class and much more.”

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