Walnut

Company: Thumbworks Technologies Pvt. Ltd

Founded in: October 2014

Founders: Amit Bhor and Patanjali Somayaji

Funding: Undisclosed amount of seed funding

What it offers: Sporting a clean user interface and breezy user experience, Walnut is one of the most effortless money management apps in the market right now. The app reads the text messages on the phone and categorises those spends to give graphic analyses periodically. "People are not comfortable sharing their bank account details with an app or a website. You get an SMS alert for every transaction you make, so reading those to track expenses makes more sense," said Bhor. The app has seen 1.4 million downloads and 800,000 monthly active users.