Curie Money, a Bengaluru-based fintech startup, has raised $1.2 million in seed funding. The round was led by India Quotient with participation from other institutional and angel investors. The startup focuses on offering a unique banking solution that integrates mutual fund investments with traditional savings accounts, enabling users to earn higher returns while maintaining liquidity.

Key Features

• Partnerships: Curie Money has partnered with YES Bank and ICICI Prudential Mutual Fund. This collaboration allows users to park their savings in ICICI Prudential Liquid Fund and earn up to 7.3% compound annual growth rate (CAGR), significantly higher than traditional savings account returns.
• UPI Services: The startup has obtained approval from the National Payments Corporation of India (NPCI) to act as a third-party application provider. This enables it to offer Unified Payments Interface (UPI) services for seamless payments.

Funding Utilization

The funds will be directed towards:

1. Expanding the team.
2. Enhancing technological infrastructure.
3. Developing new products.
4. Targeting market expansion, with a focus on current accounts and micro, small, and medium enterprises (MSMEs).

Statements from Leadership

• Arindam Ghosh, Co-founder: "We founded Curie Money to solve a deeply personal challenge—making savings work harder without sacrificing liquidity."
• Madhukar Sinha, Partner at India Quotient: "By integrating mutual funds with banking and payments, Curie Money empowers users to maximize their financial potential."

Conclusion

Curie Money’s funding and partnerships reflect a strong commitment to redefining banking by offering higher returns on savings without compromising convenience. The startup is poised to expand its offerings and reach, targeting key market segments like MSMEs and current accounts.

Source : YourStory