Fintechs chase new revenue; Flipkart’s food delivery launch

Fintech firms in India are broadening their revenue streams as traditional growth slows, according to today's ETtech Morning Dispatch. Companies like Groww, Paytm, Pine Labs, and Kissht are leveraging their existing networks to introduce new products and reduce reliance on low payment monetization. Growth for these firms has slowed significantly; for instance, Groww's revenue growth dropped from over doubling in FY24 to 50% in FY25 and 19% in FY26, while Pine Labs' growth eased to 19% from 29%.

In response to these challenges, Paytm has shifted a significant portion of its revenue to non-payment businesses, which now account for 18% of its first-half FY26 revenue, up from 7% in FY23. Meanwhile, financial services now represent a third of Paytm's FY26 revenue, and the company plans to invest Rs 100 crore in Paytm Money.

Flipkart, a prominent e-commerce company, is also eyeing the fintech sector with plans to launch food delivery services in Bengaluru in mid-August. The service is expected to have commission rates of up to 11%, which is lower than that of competitors like Swiggy and Zomato. This move is likely to challenge the dominant players in the food delivery market and could potentially disrupt the current business dynamics.