Fi Money, a once-celebrated star in India’s neo-banking firmament, is undertaking a significant strategic pivot, moving away from its consumer-facing financial products to focus on a B2B model centered on Artificial Intelligence. The move, announced by co-founder and CEO Sujith Narayanan in a recent LinkedIn post, comes amid mounting financial pressures, a shrinking workforce, and a challenging regulatory environment that has hampered the growth of the entire Indian neo-banking sector.In his post, titled “On Change, Gratitude, and the Next Chapter of Fi,” Narayanan acknowledged that while the company’s ambition in the B2C space was right, “not every bet paid off the way we hoped.” He stated that the leadership team’s reflection pointed towards a new direction where the company consistently excels: “deep technology, AI, and building complex systems for startups & large enterprises alike.” This shift, he explained, necessitates the sunsetting of some consumer products and will result in the elimination of several roles.๐๐ง ๐๐ก๐๐ง๐ ๐, ๐๐ซ๐๐ญ๐ข๐ญ๐ฎ๐๐, ๐๐ง๐ ๐ญ๐ก๐ ๐๐๐ฑ๐ญ ๐๐ก๐๐ฉ๐ญ๐๐ซ ๐จ๐ ๐ ๐ข At Fi, we started with a simple belief, that digital first banking / neo banking should feel more thoughtfulโฆ | Sujith Narayanan | 16 comments๐๐ง ๐๐ก๐๐ง๐ ๐, ๐๐ซ๐๐ญ๐ข๐ญ๐ฎ๐๐, ๐๐ง๐ ๐ญ๐ก๐ ๐๐๐ฑ๐ญ ๐๐ก๐๐ฉ๐ญ๐๐ซ ๐จ๐ ๐ ๐ข At Fi, we started with…ย ย โRead MoreStartupTalky- Business News, Insights and Stories
