Bengaluru fintech Curie Money nets $1.2M in seed round led by India Quotient
Curie Money provides savings accounts that fetch up to 7.3% CAGR in interest rates by investing the corpus into liquid funds.
Bengaluru-based fintech platform Curie Money has secured $1.2 million in seed funding from venture capital firm India Quotient, with additional participation from institutional and angel investors in the fintech sector.
The funding will be allocated toward team expansion, product development, technological infrastructure enhancement, and strategic market expansion, with a particular focus on current account and micro, small, and medium enterprise (MSME) segments.
The startup aims to address what it sees as a gap in the Indian financial market by offering a unique banking solution that combines mutual fund investments with traditional savings account functionality. By partnering with YES Bank and ICICI Prudential Mutual Fund, Curie Money provides users the ability to earn higher returns on their idle cash while maintaining instant payment capabilities.
The company recently secured approval from the National Payments Corporation of India (NPCI) to operate as a third-party application provider to offer UPI services. Users can get up to 7.3% CAGR returns by keeping their savings in ICICI Prudential Liquid Fund, which is significantly higher than traditional savings accounts.
"We founded Curie Money to solve a deeply personal challenge—making savings work harder without sacrificing liquidity," Arindam Ghosh, Co-founder of Curie Money, said in a statement.
"Curie Money is at the forefront of a significant shift in the way people manage their finances. By seamlessly integrating mutual funds with banking and payments, they are empowering users to maximize their financial potential. We are excited to support Arindam, Tushar, and the team as they scale this innovative solution," Madhukar Sinha, Partner at India Quotient, added.
Edited by Kanishk Singh