Google Pay Executives Launch Neo-Bank in India

Two of the Co-Founders from Google Pay in India have launched a new neo-bank aimed at millennials in India; epiFi has secured $13.2mn in seed financing led by Sequoia India and Ribbit Capital, the round valued the startup at about $50 million; NuBank’s David Velez, CRED’s Kanal Shah and Hillhouse Capital also participated in the round; “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,” Founder Sujith Narayanan said to TechCrunch; the company wants users to understand spending, make investment decisions and increase their savings. Tech Crunch

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