India fintech raises $513 million in Q1 2026 as funding concentrates
Business
India's fintech sector pulled in $513 million in Q1 2026, a slight 2% bump from last year, even though the number of deals dropped by more than half.
The big takeaway? Investors are putting larger bets on fewer, more established companies.
Weaver Services alone grabbed $156 million, showing that proven players are getting most of the love (and cash).
Mumbai captured $311 million, 61% share
Mumbai dominated the scene this quarter, landing 61% of all fintech funding ($311 million), a massive jump from just 9% last year.
Its close ties to banks and financial hubs make it a magnet for lending and housing startups.
Bengaluru came next with 30%, while other cities like Gurugram, Delhi, and Chennai trailed far behind.