Indian neobank Fi is in superior levels of talks to lift about $100 million at a $700 million valuation, based on three sources conversant in the matter.
Alpha Wave World, previously referred to as Falcon Edge Capital, is main the spherical, sources stated. Singapore’s Temasek can also be in talks to put money into the brand new spherical, one of many sources stated.
Fi, a two-year-old startup consisting of funds and different shopper 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 referred to as EpiFi, at $315 million.
The startup, which competes with Tiger World-backed Jupiter, has on-boarded about 1.2 million customers up to now, one other supply conversant in the matter stated.