Fi Money is a Bengaluru-based fintech company founded in 2019 that operates a digital banking platform in partnership with Federal Bank. The company acts as an intermediary, connecting over 3.5 million registered users with licensed banking and financial service providers rather than holding banking licenses itself.
The platform offers savings accounts, credit cards, personal loans, and access to investment markets. Users can trade US stocks through a partnership with Alpaca Securities LLC, invest in Indian equities listed on NSE and BSE, and purchase mutual funds and systematic investment plans. The platform also provides personalized financial management tools and payment services through partnerships with providers including Visa.
Fi Money's scale demonstrates significant user engagement in both banking and investment services. Users have collectively saved over ₹40 crore in forex fees and managed portfolios exceeding ₹10,000 crore through the platform. The company was founded by Sujith Narayanan and Sumit Gwalani, former executives at Google Pay.
