India’s fintech sector is rapidly widening its global footprint as leading companies and emerging players push into markets across the Global South. With interest rising in regions such as Africa, Southeast Asia and the Middle East, Indian fintechs are positioning themselves to play a larger role in global payments and financial technology.
Companies including Pine Labs, Razorpay and PhonePe have already established operations abroad as part of their international strategies. Chennai based Kaleidofin is the latest to enter overseas markets by setting up operations in Africa. The company spent eighteen months preparing for the expansion and has now launched its business in Kenya. Puneet Gupta, co founder of Kaleidofin, said, “It took us 18 months to build our shop in Africa. We have set up our business in Kenya and also signed local trade contracts there with African institutions and local banks.”
Kaleidofin’s first initiative in Africa is Project EASETRADE. The project, developed with the Trade and Development Bank and Trade Catalyst Africa, aims to support lending to MSMEs in Kenya’s horticulture sector. The company expects this to serve as a channel for entry into the wider East African region.
Industry experts say India’s leadership in digital payments and digital public infrastructure has generated strong interest from emerging markets. A former executive director of the Reserve Bank of India said countries in the Global South are studying India’s products, networks and systems. He said this moment presents an opportunity for India to lead in payments since the country is ahead of many others.
Government backed efforts are also helping fintechs expand. A technology industry leader noted that efforts are underway to integrate India’s payment systems with global platforms. He said there are ongoing collaborations involving NPCI and international payment networks. He added that India has already integrated UPI with several countries and that digital identity solutions developed in India are being implemented across many nations. He said global expansion will require greater investment in sales, marketing and infrastructure.
Fintech founders acknowledge that while India built technology is globally relevant, regulatory barriers remain. The chief executive officer of Pine Labs said that different markets have their own compliance rules and some require platforms to be hosted locally. He said the ideas and capabilities created in India can succeed anywhere, but companies must adapt to local regulations. He noted that Pine Labs is now seeing early global traction with operations in Malaysia, Singapore and the UAE.
Industry executives say fintech firms abroad often operate either as technology service providers, which is easier to scale, or as licensed entities, which takes longer. PhonePe is pursuing licences in the UAE and Singapore. Despite global ambitions, leading firms continue to build from an India first base, with both PhonePe and Razorpay shifting their domiciles back to India.
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