Founded by Arindam Ghosh and Tushar Choudhary, Curie Money is a high-yield, mutual fund-backed banking app that integrates investments with payments. The platform enables users to invest in mutual funds while offering instant liquidity through a savings account.
Speaking to ET, Ghosh said that the company aims to address a key gap in personal finance in India by ensuring that users’ funds remain accessible while delivering higher returns than traditional savings accounts.
To deliver this solution, Curie Money has partnered with Yes Bank to provide no-minimum-balance savings accounts and ICICI Prudential Mutual Fund to offer fixed-income mutual fund schemes. Additionally, the startup recently received approval from the National Payments Corporation of India (NPCI) to operate as a third-party application provider, enabling users to make Unified Payments Interface (UPI) transactions through the Curie Money app.
Users can earn returns of up to 7.3% compound annual growth rate (CAGR) by keeping their savings in the ICICI Prudential Liquid Fund, significantly higher than returns offered by traditional savings accounts, Ghosh added.
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“This funding is a testament to the market need for an integrated solution that combines the high returns of mutual funds with the convenience of banking. With the support of India Quotient and our investors, we are well positioned to redefine personal finance and expand our reach,” he said.The platform, which went live with around 1,000 beta users two weeks ago, is currently accessible only through invite codes.
“Curie Money is at the forefront of a significant shift in the way people manage their finances. By seamlessly integrating mutual funds with banking and payments, they are empowering users to maximise their financial potential,” said Madhukar Sinha, partner at India Quotient.
