Bengaluru-based neobank Fi crosses 1 mn users within 10 months of launch

Bengaluru-based neo-bank Fi on Tuesday said it crossed one million accounts on its platform 10 months after it was launched by former Google Pay founders Sujith Narayanan and Sumit Gwalani.  

This comes after the platform recently raised $50 million in a funding round led by Facebook co-founder Eduardo Saverin's B Capital, with participation from Falcon Edge Capital. Other investors include Sequoia India, Ribbit Capital, Hillhouse Capital, and angel investors like CRED founder, CEO Kunal Shah.

The financial app, which targets customers belonging to salaried millennials and working professionals segment, said it has recorded an average of 15 transactions every month per user