EpiFi Raises $ 13.2M in its Seed Funding

By siliconindia  |  Tuesday, 14 January 2020, 07:38:54 PM IST

EpiFi Raises $ 13.2M in its Seed Funding

EpiFi Technologies, a neo-banking startup, has raised a seed funding of $ 13.2 million from Sequoia India and Ribbit Capital. Alongside, Hillhouse Capital and angel investors namely David Velez, the founder of Nubank, and Kunal Shah, Founder & CEO, CRED also participated in the funding round. The company intends to utilize the capital to build its technology platform, drive marketing initiatives as well as sales and expand its technology team.

"Millennials are a digital-first generation who are reshaping the world's economy, pushing companies to re-examine the way they do business through epiFi, our mission is to provide digital natives with a new-age platform that uses customer insights and deep tech to simplify their banking journey and help them take a big step towards achieving financial freedom," says Sujith Narayanan, Co-founder of EpiFi Technologies.

EpiFi Technologies is a digital banking solution provider that mainly sets its focus on millennials. It was established in May last year by Google Pay top executives Sujith Narayanan and Sumit Gwalani. The company's founders realized the need for services beyond digital payments such as insurance, investment opportunities, lending and more. Additionally, the company also intends to help the users understand their expenses and guide them to make better investments and improve their savings. Presently, the convergence of all the features could be unclear, but soon, the company would release an app to ease out the procedures.

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