Indian challenger founded by Google Pay execs raises $13.2m
EpiFi, an Indian digital banking venture founded by two former Google Pay executives, has raised $13.2 million in seed funding.
Sujith Narayanan, epiFI
The round was led by a Sequoia Capital, Ribbit Capital and Hillhouse Capital, and valued the eight-month old Bengalaru start-up at $50 million. Cred founder Kunal Shah and Nubank founder David Velez are also on board as backers.
EpiFi offers a digital banking solution aimed at millennials, including a savings account and debit card.
Founders Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India, are aiming to use the new capital to build out a technology stack and bring new people into EpiFi’s team, which includes former Google, Netflix, Flipkart and Matchmove employees.
EpiFI lists eight open positions on its website, including open roles for business analysts, product managers and software engineers.
Narayanan told the Economic Times of India that a full product launch for EpiFi is planned for a few months from now.
“The intent is to deliver a product that touches consumers across streams, which is intuitive and simple, demystifies their finances, and helps them spend intelligently,” he adds.
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