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# Indian neobanking startup Fi raises $45 million in funding
- URL: https://www.techloy.com/indian-neobanking-startup-fi-raises-45-million-in-funding/
- Published: 2022-07-25T12:18:16.000Z
- Updated: 2022-12-07T23:41:20.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech, Tech in India

[Fi,](https://fi.money/) formerly EpiFi, an India-based neobanking platform has raised $45 million in its Series C funding round from Alpha Wave Ventures.

- Fi is a money management app for working professionals, with zero balance savings accounts and commission-free mutual funds. Users are allowed to connect other bank accounts to the app.
- The startup is now valued at $520 million at this raise and looks forward to increasing its total for the round.
- It last raised $50 million in a B Capital-led round at a $325 million valuation.
- Fi's competitors include Jupiter, Niyo, P10, InstantPay and others in the digital banking space in India.