# Fi Money

> Source: https://docs.barcoder.ai/docs/wallets/fi-money
> research date 2026-06-01 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Fi Money — official](https://fi.money/)

## Overview

**Fi Money** is an **Indian neobanking app** operated by **epiFi Technologies Pvt. Ltd.**, offering a digital savings account, **[UPI QR](https://docs.barcoder.ai/docs/standards/upi-qr)** payments, debit cards, mutual-fund investing, and money-management/analytics tools <sup>[1][1], [2][2]</sup>. 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 <sup>[1][1]</sup>.

Fi targets salaried, digitally-native urban Indians, competing with neobank peers such as **[Jupiter Money](https://docs.barcoder.ai/docs/wallets/jupiter-money)** and broader UPI apps like **[PhonePe](https://docs.barcoder.ai/docs/wallets/phonepe)**, **[Google Pay](https://docs.barcoder.ai/docs/wallets/google-pay)**, and **[Paytm](https://docs.barcoder.ai/docs/wallets/paytm)** <sup>[2][2]</sup>.

## History

**2019 — epiFi founded** <sup>[2][2]</sup>: 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** <sup>[1][1]</sup>: Public launch of the Fi neobank app with a Federal Bank-backed savings account and UPI.

**2022-2025 — feature expansion** <sup>[1][1], [2][2]</sup>: 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) <sup>[2][2]</sup>.

**Founders**: **Sumit Gwalani** and **Sujith Narayanan**, both formerly of Google Pay India <sup>[2][2]</sup>.

**Investors**: Venture-backed, with backing from major global and Indian investors including Sequoia/Peak XV, Ribbit Capital, and others over its funding history <sup>[2][2]</sup>.

**Banking partner**: **Federal Bank** provides the underlying regulated deposit account; Fi is a software layer, not a licensed bank <sup>[1][1]</sup>.

**Regulator**: **Reserve Bank of India (RBI)** + **NPCI** for UPI; the partner bank carries the banking license <sup>[1][1]</sup>.

## Technical integration

Fi Money is a **neobank front-end on partner-bank rails + UPI TPAP** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Channels** | Fi Money mobile app (iOS + Android) |
| **Identifiers** | Phone number + VPA + QR + card number |
| **UPI integration** | **[UPI QR](https://docs.barcoder.ai/docs/standards/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](https://docs.barcoder.ai/docs/standards/upi-qr)** (NPCI) + card networks.

**Indian neobank peers / competitors**: **[Jupiter Money](https://docs.barcoder.ai/docs/wallets/jupiter-money)**, **[slice](https://docs.barcoder.ai/docs/wallets/slice)**, **[CRED](https://docs.barcoder.ai/docs/wallets/cred)**, plus UPI majors **[PhonePe](https://docs.barcoder.ai/docs/wallets/phonepe)**, **[Google Pay](https://docs.barcoder.ai/docs/wallets/google-pay)**, **[Paytm](https://docs.barcoder.ai/docs/wallets/paytm)** <sup>[2][2]</sup>.

**Regulator**: **RBI + NPCI** (banking license held by partner bank).

## Status

**Active** <sup>[1][1], [2][2]</sup>:
- **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

[1]: https://fi.money/ "Fi Money — official site"
[2]: https://en.wikipedia.org/wiki/Fi_Money "Fi Money / epiFi — Wikipedia"
[3]: https://www.npci.org.in/what-we-do/upi/product-overview "NPCI — UPI overview"

- [1] [Fi Money — official site][1]
- [2] [Fi Money / epiFi — Wikipedia][2]
- [3] [NPCI — UPI overview][3]

## Source

Biography extracted from [fi-money.md](https://docs.barcoder.ai/source/wallets/fi-money). See `matrix.md` for standards-support matrix if present.