Internally, the Fi is experimenting with a new user onboarding flow called Fi Lite, where customers are not mandated to open a digital banking account anymore, rather can directly opt for credit products. Fi is also planning to rejig its one-time joining fee of Rs 2,000 for credit card customers to expand its card base.
The awards ceremony of the Economic Times Startup Awards 2023, scheduled to be held in Bengaluru on October 7, will see Union minister of commerce and industry Piyush Goyal and minister of state for information technology Rajeev Chandrasekhar attending as guests of honour. This and more in todays ETtech Morning Dispatch.
Fi, a neobanking startup supported by well-known investors like Peak XV (previously Sequoia's India unit), Temasek, and Alpha Wave Ventures, recently revealed a number of strategies to lengthen its capital runway in an effort to negotiate a difficult fundraising landscape.
Neobanking startup Fi, backed by Peak XV Partners, is reducing around 10% of its workforce, or about 30 employees, as part of a restructuring exercise.
Homegrown neobanking startup Fi, backed by Peak XV Partners (formerly Sequoia Capital India), is reducing around 10% of its workforce, or about 30 employees, as part of a restructuring exercise.The company will offer departing employees .