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Curie Money receives NPCI approval, goes live across India

EntrackrEntrackr · 6h ago
Curie Money receives NPCI approval, goes live across India
Medial

Curie Money receives NPCI approval, goes live across India Curie Money, a fintech platform focused on savings and payments, has received final approval from the National Payments Corporation of India (NPCI) to expand its services nationwide. With this approval, Curie has exited its beta phase and is now live for all users on Android and iOS. Curie previously raised $1.2 million (Rs 10 crore) in seed funding in December 2024, led by India Quotient with participation from other investors. Founded by Arindam Ghosh and Tushar Choudhary, Curie Money operates as a mutual fund–backed UPI app that enables users to invest, spend, and manage money seamlessly. It holds an AMFI mutual fund distribution license and NPCI approval for UPI operations. It allows users to grow their money in liquid mutual funds while maintaining instant access through UPI payments. The platform combines investment and payments, enabling users to earn daily returns and spend instantly from the same balance. The product operates through partnerships with YES Bank and asset management companies including ICICI Prudential and Bajaj Finserv. It complies with mutual fund and payment regulations to ensure secure transactions. Users earn returns of up to 6.7% annually through liquid mutual funds, with every UPI payment processed by instantly redeeming the required amount. The model aims to replicate money market systems used in developed economies by linking liquidity and returns in a single product.

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PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation

EntrackrEntrackr · 6m ago
PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation
Medial

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation PB Pay Private Limited, a wholly owned subsidiary of InsurTech firm PB Fintech, has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. The approval comes nearly a year after the company submitted its application. The authorisation is subject to compliance with the RBI’s guidelines on the regulation of payment aggregators and payment gateways. Policybazaar focuses on insurance, while Paisabazaar, also under PB Fintech, handles the credit side — personal loans, business loans, credit cards, and credit scores. This move will help the company’s business to support and streamline payment across both insurance and credit verticals and reduce reliance on third-party service providers. Last month, PB Fintech also got the board approval to infuse Rs 696 crore or $80 million to its subsidiary PB Healthcare Services Pvt Ltd to strengthen its new unit’s operations in India’s health care sector. The parent company of Policybazaar and Paisabazaar reported a 48.3% year-on-year revenue growth to Rs 1,292 crore in the third quarter of the last fiscal year (Q3 FY25) from Rs 871 crore in Q3 FY24. During the same period, its net profit nearly doubled to Rs 72 crore from Rs 37 crore in the corresponding quarter of the previous fiscal. PB Fintech is currently trading at Rs 1,625 with a total market capitalization of Rs 74,629 crore (approximately $8.6 billion).

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