Private Equity Fund Investments
Neobank Fi raises $50-M led by B Capital, Falcon Edge
Bengaluru-based neobanking service Fi (owned by the 2019-founded epiFi Technologies) has completed its Series B round led by B Capital and Falcon Edge Capital, that valued the company at USD 315 million (7x its Series A valuation at USD 45 million). The Fi app, access to which has now been opened to all, claims to have over a million users registered on its waitlist to open a savings account, which is an instant, zero-balance account with a debit card issued in partnership with Federal Bank.
Between Oct-19 and Jun-21, epiFi raised over $25-M from Ribbit Capital, Sequoia Capital India, Rainmatter Capital, B Capital Group, Hillhouse Capital, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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