Fyp Money

Fyp Money is a disruptive neobank targeting teenagers (ages 11–18) with a mission to bridge India’s financial literacy gap. Fyp combines banking infrastructure (powered by YES BANK and Visa) with gamified learning to teach budgeting, saving, and responsible spending. The platform’s flagship innovation India’s holographic, numberless prepaid card—enables secure offline/online payments while allowing parents to monitor transactions. Fyp dominates Tier 2/3 cities, where 70% of its user base resides, and aims to onboard 5 million teens by 2024.

Core Products and Services

• Virtual/Physical Cards: NFC-enabled, numberless prepaid cards (one-tap block feature).

• Holographic Card: India’s first teen-focused card with airport lounge access via DreamFolks partnership.

• Parent-Teen Dashboard: Real-time spending analytics, allowance transfers, and chore-based "Missions" (gamified financial tasks).

• UPI Integration: Seamless peer-to-peer payments.

• Financial Literacy Modules: Bite-sized content (blogs/videos) on saving, investing, and budgeting.

Business Model & Revenue Streams

• Card Subscription Fees (60%): One-time fee (~₹499) for physical cards; recurring virtual card charges.

• Interchange Fees (30%): Transaction commissions from Visa/YES BANK.

• B2B Monetization (10%): Banking-as-a-Service (BaaS) platform for other fintechs (future stream).

• FY22 Performance: Generated revenue from 500,000+ users; 150,000–200,000 new users monthly.

Customer Segmentation

• B2C (100%): Teens (11–18) and parents (35–45); 70% from Tier 2/3 cities.

Top Clients & Partnerships

• Banking Infrastructure: YES BANK (account services), Visa (card network).

• DreamFolks: Airport lounge access for cardholders.

• Edunify (acquired 2022): School discovery platform for user acquisition.

• User Base: 500,000+ teens; partnerships with 100+ schools for embedded finance.

Future Outlook & Strategic Priorities

• Product Expansion: Launch peer investing (parent-approved) and savings tools.

• Geographic Scaling: Target 5 million users by 2024 via school integrations.

• BaaS Platform: License fintech infrastructure to third parties.

• Regulatory Compliance: RBI guidelines for minor-owned prepaid instruments.