FatakPay co-founder flags sustainable growth as fintech’s competitive edge

With Indian fintech funding at $889 million in H1 2025, FatakPay co-founder Amit Goyal argues that profitability, compliance, consumer protection and retention must replace subsidy-led growth as the sector’s core priorities.

— Source publishedMon, 27 Jul, 2026, 13:52 IST·First seen Mon, 27 Jul, 2026, 14:00 IST·Source YourStory · Capital

What happened

FatakPay co-founder Amit Goyal argues Indian fintechs must prioritize profitability, compliance, consumer trust and retention over subsidized growth. The

Key facts

  • $889 million: Indian fintech funding in H1 2025
  • $5.5 billion: Indian fintech funding in H2 2021
  • 67.0: India Financial Inclusion Index for year ended March 2025
  • 64.2: India Financial Inclusion Index in March 2024

Why this matters

Retail companies seeking fintech acquisitions or partnerships should prioritize scaled, compliant platforms with durable engagement and less dependence on subsidy-led customer growth.

What to watch

  • Indian fintech funding volumes and late-stage deal activity through H2 2025.
  • RBI actions on digital lending, KYC, data use, payment aggregation, credit reporting and consumer-protection compliance.
  • Changes in BNPL approval rates, merchant discount rates, delinquency trends and lender underwriting standards.
  • Fintech layoffs, delayed settlements, product shutdowns, down-rounds or consolidation involving retail-facing payment and credit providers.
  • Retailer shifts from blanket cashback and no-cost EMI offers toward loyalty-linked or merchant-funded incentives.
  • Audit payment, lending and loyalty vendors for profitability, funding runway, regulatory exposure, fraud losses and customer-support capacity.
  • Reprice promotional financing around incremental margin and repayment performance rather than checkout-conversion targets alone.
  • Prioritize retention-oriented offers for verified repeat customers, including merchant-funded rewards, installment plans and post-purchase servicing.
  • Build contingency plans for fintech-partner disruption, including secondary payment gateways, alternative lending partners and portable customer-data workflows.
  • Use stricter attribution to distinguish subsidy-driven sales from repeatable demand and lifetime-value accretion.