Bengaluru-based fintech platform Cure Money has secured $1.2 million in seed funding from venture capital firm India Quitant, with further participation from institutional and angel investors in the fintech space.
Funds will be allocated for team expansion, product development, technological infrastructure enhancement, and strategic market expansion, with a special focus on the current account and micro, small, and medium enterprise (MSME) segments.
The startup aims to address a gap in the Indian financial market by providing a unique banking solution that combines mutual fund investments with traditional savings account functionality. By partnering with Yes Bank and ICICI Prudential Mutual Fund, Curie Money offers users the ability to earn high returns on their idle cash while maintaining immediate payment capabilities.
The company recently received approval from the National Payments Corporation of India (NPCI) to operate as a third-party application provider to offer UPI services. Users can get 7.3% CAGR returns by keeping their savings in ICICI Prudential Liquid Funds, which is significantly higher than conventional savings accounts.
“We founded Curie Money to solve a deeply personal challenge – making savings work harder without sacrificing liquidity,” Curie Money co-founder Arindam Ghosh said in a statement.
“Curie Money is at the forefront of significant change in the way people manage their finances. By seamlessly integrating mutual funds with banking and payments, they are empowering users to maximize their financial potential. We are excited to support Arindam, Tushar, and them. scales the solution,” added Madhukar Sinha, Partner, India Quotient.