B Capital in Talks to Invest in Indian Neobank Fi

B Capital Group in Talks to Invest in Indian Neobank Fi

B Capital Group, recently a co-lead investor in Meesho’s $570 million funding round, is reportedly nearing an agreement to invest in Fi, a neobank headquartered in Bangalore.

Fi's Focus and Growth

Fi, previously operating as epiFi, provides neobanking services specifically tailored for millennials within the Indian market.

The company successfully secured $13.2 million in seed funding last year. This allowed them to build a team comprised of experienced professionals originating from prominent companies like Google, Netflix, Flipkart, and PayPal.

Valuation and Potential Investment

Fi currently competes with Jupiter, another Bangalore-based neobank supported by Nubank.

The startup was previously valued at approximately $50 million during its seed round, which was led by Sequoia Capital India and Ribbit Capital.

Discussions are underway to secure a new funding round of $40 to $50 million. This would result in a valuation of $250 million, according to sources familiar with the negotiations.

Falcon Edge Capital is also anticipated to participate in this investment round.