"You should do what India does": FinTech ecosystems in India reshaping the geography of finance.

• First longitudinal study of a FinTech ecosystem on a global, national and city level. • Network visualization of foreign and domestic investments in FinTech. • Documenting Bangalore's emergence as India's FinTech capital and the rise of New Delhi. • Demonstrating how Mumbai and Bangalore structure India's financial geography as complementary ecosystems. • Conceptualizing FinTech in India as a "Tech-Fin-State" ecosystem. This paper explores the potential of FinTech to change the geography of finance and financial centres through a longitudinal and multiscalar analysis of FinTech in India. Using a financial ecology approach, we combine quantitative data on firm creation and funding with insights from corporate interviews to unpack and examine the key elements of the Indian FinTech ecosystem. At the national scale, our results highlight how the export-oriented ICT sector, the implantation of large-scale, open digital infrastructures and enabling regulatory frameworks have enabled and shaped the growth of FinTech as a state-supported, tech-driven "Tech-Fin-State" ecosystem. At a city scale, the paper demonstrates how FinTech transforms India's financial geography in two directions. First, locational patterns and investment networks have established New Delhi and Bangalore as international FinTech hubs, ahead of Mumbai. Second, the re-intermediation of finance by FinTech firms should be understood as the connection between the two distinct yet complementary ecosystems of Bangalore, India's FinTech capital, and Mumbai, the incumbent financial capital, while advancing regional integration beyond India. [ABSTRACT FROM AUTHOR]