Fi, a startup neobank, raised $16.84 million from Temasek company V-Sciences Investment as part of its Series C round, along with participation from QCM Holdings, an existing investor.
Neobank is currently digitising India’s banking system. Users may track and manage their money by linking with banks. It aims to resolve users’ banking issues. Through its mobile app, Fi also offers working people options for investing in mutual funds and zero-balance savings accounts. The country’s fintech sector is projected to grow to $1.3 Tn by 2025.