Wallets/fi-money
Fi Money
0 standards supported
Overview
Fi Money is an Indian neobanking app operated by epiFi Technologies Pvt. Ltd., offering a digital savings account, UPI QR payments, debit cards, mutual-fund investing, and money-management/analytics tools 1, 2. Like other Indian neobanks, Fi does not hold a bank charter itself — it provides a software front-end over deposit accounts held at partner banks (Federal Bank for its core account) and operates UPI as a Third-Party Application Provider 1.
Fi targets salaried, digitally-native urban Indians, competing with neobank peers such as Jupiter Money and broader UPI apps like PhonePe, Google Pay, and Paytm 2.
History
2019 — epiFi founded 2: Established by Sumit Gwalani and Sujith Narayanan (both ex-Google Pay India / Google Tez), to build a digital-first money app for India.
2021 — Fi Money app launches 1: Public launch of the Fi neobank app with a Federal Bank-backed savings account and UPI.
2022-2025 — feature expansion 1, 2: Added debit/credit-style cards, mutual-fund and other investments, lending products, and AI-driven money analytics ("Ask Fi" / "FIT rules" automation).
Ownership & operator
Operating entity: epiFi Technologies Pvt. Ltd. (Bengaluru, India) 2.
Founders: Sumit Gwalani and Sujith Narayanan, both formerly of Google Pay India 2.
Investors: Venture-backed, with backing from major global and Indian investors including Sequoia/Peak XV, Ribbit Capital, and others over its funding history 2.
Banking partner: Federal Bank provides the underlying regulated deposit account; Fi is a software layer, not a licensed bank 1.
Regulator: Reserve Bank of India (RBI) + NPCI for UPI; the partner bank carries the banking license 1.
Technical integration
Fi Money is a neobank front-end on partner-bank rails + UPI TPAP 1, 2:
| Layer | Description |
|---|---|
| Channels | Fi Money mobile app (iOS + Android) |
| Identifiers | Phone number + VPA + QR + card number |
| UPI integration | UPI QR via TPAP / partner-bank PSP |
| Account | Savings account held at Federal Bank |
| Cards | Debit card (Visa) on the partner-bank account |
| Investments | Mutual funds + other in-app investment products |
| Automation | Rule-based "FIT" auto-saving + AI analytics over spending |
Implementations & partners
Operating entity: epiFi Technologies Pvt. Ltd.
Banking partner: Federal Bank (deposit account + card issuance).
Rails: UPI QR (NPCI) + card networks.
Indian neobank peers / competitors: Jupiter Money, slice, CRED, plus UPI majors PhonePe, Google Pay, Paytm 2.
Regulator: RBI + NPCI (banking license held by partner bank).
Status
- epiFi Technologies Pvt. Ltd. operating the Fi Money neobank app.
- Federal Bank-backed savings account + UPI + cards + investments.
- Founder team drawn from Google Pay India; venture-backed.
Sources
Source
Biography extracted from fi-money.md. See matrix.md for standards-support matrix if present.