Indian neobank Fi is in superior levels of talks to boost about $100 million at a $700 million valuation, in accordance with three sources acquainted with the matter.
Alpha Wave World, previously often known as Falcon Edge Capital, is main the spherical, sources stated. Singapore’s Temasek can also be in talks to spend money on the brand new spherical, one of many sources stated.
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 might 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 TechCrunch, in November. That spherical valued Fi, previously often known as EpiFi, at $315 million.
The startup, which competes with Tiger World-backed Jupiter, has on-boarded about 1.2 million customers thus far, one other supply acquainted with the matter stated.
