Neobanking startup Fi raises $50 mn in funding, valuation jumps 7 times

B Capital Group, Falcon Edge and others participated in the Series B funding round that valued Fi at $315 million

Fi, a Bengaluru-based neobank, has raised $50 million at a valuation of $315 million from B Capital Group, Falcon Edge and other investors, in addition to an earlier interim round with existing investors Sequoia Capital and Ribbit Capital. The latest round boosted the fintech startup’s valuation by seven times over its Series A round in 2020 when it was valued at $45 million.

Kabir Narang, founding general partner, B Capital Group, said: “ Fi is focused on serving the financial needs of 60 million digitally savvy millennials in India. This is a large, attractive, and growing market especially in the backdrop