Purpose: Based on the combined sources of financing of e-startups, the purpose of this paper is to empirically investigate the association between sources of finance advancement with it, which explains the financing trends of Indian e-startups.

Design/methodology/approach: chi-square test has been used to analyse the association between sources of finance and their stages of development. For it, top 100 e-startups companies financial data have been collected from secondary sources.

Findings: Empirical results suggested that sources of finance and their stages of development have been associated. In their financing patterns, most of the fund has been raised through venture capital from series B.