News > Startling valuation, stricter regulation: Indian fintechs are homebound

Startling valuation, stricter regulation: Indian fintechs are homebound

Time was when the Indian authorities and the Indian startup ecosystem were worried that some of the top new-age companies were shifting base to Singapore, Dubai, and the US for faster fundraising and more favourable taxation norms. Things are starting to change, at least for growth-stage fintech and consumer internet startups. PhonePe, the payments major that Walmart acquired as part of its acquisition of Flipkart, is the first major company to shift its registered headquarters from Singapore to India.