Bengaluru-based Fi (pronunciation rhymes with Sky) was founded by Sujith Narayanan and Sumit Gwalani. The startup partners with RBI-licensed banks to provide users with a savings account that can be opened entirely on their phones in 3 minutes!
The idea behind Fi is to help users better understand how they spend their money and guide them toward making good-quality investments. At this point, Fi offers a savings account along with options to save and invest money.
The startup has raised $78 million collectively from investors such as Ribbit Capital, B Capital, and Sequoia, to name a few. Fi currently employs close to 200 people and is valued at $400 million.