Two execs behind Google Pay in India are building epiFi, a new neobanking platform.
In Brief:
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The company has raised $13.2mn in a seed round led by Sequoia and Ribbit Capital.
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Sujith Narayanan cofounded Google Pay (Tez) in India.
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He is joined by Sumit Gwalani who worked at Google India and was involved in formulating Tez.
What does this mean?
The company has already secured backing from three venture capital funds. It will focus on millennials, arguing that financial freedom must be promoted by ‘demistifying’ the space.
