Interestingly, it has taken an average of 7.8 years to make a unicorn in 2021, lower than 9.9 years which was the case in 2020. “The trend that is noticeable here is that time has been reducing, as founders with prior founding or startup experience are coming into play,” analysts said in the report.

 Explaining the heightened investor interest in the fintech space, Shishir Mankad, managing partner and head of financial services at Praxis Global Alliance, says that the financial services sector is relevant for every industry given the variety of use cases that the segment generates. “Financial transactions provide very valuable data to get insights about customers,” says Mankad.

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