Indian neobank Fi is in superior levels of talks to lift about $100 million at a $700 million valuation, in response to three sources acquainted with the matter.
Alpha Wave International, previously referred to as Falcon Edge Capital, is main the spherical, sources mentioned. Singapore’s Temasek can be in talks to put money into the brand new spherical, one of many sources mentioned.
Fi, a two-year-old startup consisting of funds and different client tech executives from Google, Netflix and PayPal, declined to touch upon Saturday.
The deal hasn’t closed but, so the phrases could change, sources cautioned.
The brand new spherical deliberation comes simply 5 months after the Bengaluru-headquartered startup raised about $50 million in a spherical led by B Capital Group, additionally first scooped by Avisionews, in November. That spherical valued Fi, previously referred to as EpiFi, at $315 million.
The startup, which competes with Tiger International-backed Jupiter, has on-boarded about 1.2 million customers up to now, one other supply acquainted with the matter mentioned.
