Startup Atlas · Digital Banking

Fi Money

Epifi Technologies Private Limited ● Bengaluru, Karnataka ● Founded 2019 ● fi.money ↗

Sujith Narayanan · Co-founder Sumit Gwalani · Co-founder, Chief Product and Technology Officer

$137.2 MnTotal funding (tracked)

4Funding rounds

22 Jul 2022Last round

Fi Money: Business Model Canvas

The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.

Value Propositions

One app for savings, cards, loans and investing

A single mobile app combining a Federal Bank-backed savings account, debit card, instant personal loans, and investment tools.

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Diversified product suite beyond banking

Beyond its core savings account, Fi offered instant personal loans as well as mutual funds, US stock investments and a rewards programme.

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Customer Segments

Millennials / young digitally-savvy Indians

epiFi's core target market was millennials seeking a mobile-first banking experience.

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Startups and large enterprises (post-2026 pivot)

After winding down consumer banking in March 2026, Fi pivoted to building AI and enterprise technology for business customers.

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Customer Relationships

No cited public information yet.

Channels

Fi mobile app (iOS/Android)

The core distribution channel was Fi's own mobile banking app offering the Federal Bank savings account, card, loans and investments in one place.

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Key Activities

No cited public information yet.

Key Resources

No cited public information yet.

Key Partnerships

Federal Bank

Fi's banking-as-a-service partner bank issuing the underlying savings account; the partnership ended in March 2026 with accounts moving fully onto Federal Bank's own FedMobile app.

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RBI-registered lending partners

Fi continued to operate as a loan distributor for RBI-registered lenders rather than lending on its own balance sheet, a model that proved hard to scale.

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Revenue Streams

Personal loan distribution

Instant personal loans became Fi's core/primary revenue driver as a loan distributor for RBI-registered lenders, while other non-lending products underperformed.

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Underperforming non-credit products (wealth, rewards)

Mutual funds, US stock investments and rewards programmes were diversification attempts that were scaled back as the core Federal Bank-partnered banking product remained the mainstay.

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Cost Structure

No cited public information yet.

FAQs on Fi Money

What is Fi Money's business model?

Fi Money's core value proposition centers on One app for savings, cards, loans and investing, Diversified product suite beyond banking.

How does Fi Money make money?

Fi Money's cited revenue streams include Personal loan distribution, Underperforming non-credit products (wealth, rewards).

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the “source” links beside each entry. Profile sources: techcrunch.com · Last verified 15 Jul 2026. · Report a correction