Google Pay co-founders building a neo-banking platform for Indian millennials
By MYBRANDBOOK
Sujith Narayanan and Sumit Gwalani, the two co-founders of Google Pay (formerly known as Google Tez) in India are building a neo-banking platform in the country. Good news is that they have already secured backing from three top VC funds.
Sujith Narayanan, a veteran payments executive, said on Monday that his start-up, epiFi, has raised $13.2 million in its seed financial round led by Sequoia India and Ribbit Capital. The round valued epiFi at about $50 million. David Velez (the founder of Brazil-based neo-banking giant Nubank), Kunal Shah (who is building his second payments start-up CRED in India) and VC fund Hillhouse Capital have also participated in the round.
The neo-banking platform will focus on serving millennials in India, said Narayanan.
“When we were building Google Tez, we realized that a consumer’s financial journey extends beyond digital payments. They want insurance, lending, investment opportunities and multiple products,” he explained. “The idea, in part, is to also help users better understand how they are spending money, and guide them to make better investments and increase their savings.”
Narayanan further said that epiFi will release an app in a few months.
Working with Narayanan on epiFi is Sumit Gwalani, who serves as the chief product and technology officer. Gwalani previously worked as a director of product management at Google India and helped conceptualize Google Tez.
Shailesh Lakhani, managing director of Sequoia Capital India in support of the platform said, “Their vision to reimagine consumer banking, by providing a modern banking product with epiFi, has the potential to bring a step function change in experience for digitally savvy consumers.”
BREAKING NEWS
TECHNO TRENDS
Happiest Minds brings in an innovative GenAI chatbot
Happiest Minds Technologies has announced the new GenAI chatbot - ‘hAPPI...
Government mandates encryption for CCTV cameras to ensure netw
In the wake of issuing an internal advisory on securing CCTV cameras at g...
TRAI recommends allowing only Indian entities to participate i
The Telecom Regulatory Authority of India (TRAI) has recommended that onl...
Galaxy AI is available on more devices with Samsung One UI 6.1
Samsung has expanded the range of smartphones to which One UI 6.1 and Gala...
E-Magazine
TECHNOTAINMENT
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
Miss World 2024: Krystyna Pyszková of the Czech Republic wins
Krystyna Pyszková of the Czech Republic has been crowned as the 71st Miss
MOVERS & SHAKERS
Brillio appoints Ashish Singh to its Board of Directors
Brillio has announced that Ashish Singh has been appointed to the company
JSW One Platforms ropes in Dr Ranjan Pai as Independent Direct
JSW One Platforms, part of US$23 billion JSW Group has appointed Dr Ranjan
OPEN YOUR EYES
INTERVIEWS
Forcepoint positions itself as a trusted protector of sensitiv
To help SMEs and SMBs use the SASE/SSE framework and scale both in terms of
HPE’s transformation into an edge-to-cloud company is its un
Hewlett Packard Enterprise (HPE) is driving towards one customer experience
HOT PICK
HP launches first laptop in India with Microsoft CoPilot butto
HP has launched sleek and stylish Envy x360 14 laptops in India which beco
OnePlus debut its Nord CE4 smartphone
OnePlus Nord CE4 continues the trend of attention-grabbing design with two
MAKE IN INDIA BRANDS
VERSA NETWORKS INDIA PVT. LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
FINOLEX INDUSTRIES LTD.
GLOBUS INFOCOM LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Mukesh D. Ambani
An Indian billionaire businessman Mukesh Dhirubhai Ambani is currently...
Technology Icons Of India 2023: Dr. Sanjay Bahl
Sanjay Bahl is currently with the Indian Computer Emergency Response T...
Technology Icons Of India 2023: Shailender Kumar
Shailender Kumar is senior vice president and regional managing direct...
PARTNER SPEAKERS
PSU
C-DAC keeps India ahead in IT & Electronics R&D space
Centre for Development of Advanced Computing (C-DAC) is the premier R&...
GSTN aims to integrate indirect tax ecosystem on a shared IT infrastructure
Goods and Services Tax Network (GSTN) has built Indirect Taxation plat...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
VIDEOS
Top 25 Brands
Value-Added Distribution
INGRAM MICRO INDIA PVT. LTD.
Ingram Micro India, a large national distributor offers a comprehensiv...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
