How is Fi surviving?
Fi has a limited set of products but I wonder how are they surviving? Are things good? I think they don't spend on marketing so much as other startups. But still I have never seen anyone using a Fi product as well😅
GV_influenzer
Student
a year ago
Well probably surviving on fuking absurd charges for missing auto debit payments, had 400 in a/c. Missed auto debit sometime last month had 0 balance, this month topped up then out of nowhere they charged 387 ruppees 💀, they took my dinner fuk them I hope that startup dies
incognito
Stealth
a year ago
I use FI, can confirm it adds no value to my life.
You can just download the federal app. You can log in with your fi account there anyway and get better debit/credit options.
The points system is there I guess. I have 60k points after 1.5 years using the cards and can only get a 500inr Amazon voucher.
Yeah I assumed RBI regulations would lead to consolidation of these card-fintech start-ups but nothing until now. Slice, uni, fi all running still.
What do you think is the long term plan for all these neobanks? They’re clearly not making any revenue at this point
Impossible situation - their banking partner is federal, which is already partnered with atleast 10 startups, almost impossible for them to acquire Fi or Jupiter, if other banks acquire they will not want to work with federal, and replacing to their backend would be too complex, they might as well build a new digital only app
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mindv
Stealth
a year ago
I quit the app when it lost my money while transacting 2 times. The money went into black hole.
MildMusic68
Stealth
a year ago
Will jupiter get closed?
I’ve no idea how they survive, but I like using Fi. I do all my daily transactions via fi while my salary acc is SBI. Every month I transfer whatever my budget for miscellaneous expenses is and use it from there
I don’t trust it for big ticket transactions
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