Fi crosses 1 million accounts

MUMBAI :

Bengaluru-based neo-bank Fi has crossed one million accounts, within just 10 months of it becoming available to users, said the company in a press release. 

The company has recorded an average 15 transactions every month per user. This is significantly higher as compared to an industry average of 4-5 transactions.  

“We are seeing great engagement with a portfolio average of over 15 transactions per month, per user. These numbers, we believe, are rare and remarkable even by global standards” says Sumit Gwalani, co-founder at Fi. 

The platform launched by former Google Pay founders Sujith Narayanan and Sumit Gwalani targets customers belonging to salaried millennials and working professionals segment.  

Fi had recently raised $50 million funding round led by Facebook co-founder Eduardo Saverin’s B Capital, with participation from Falcon Edge Capital. Other investors for the…

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