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Fi Money cofounder Sumit Gwalani exits as banking shuts and team pivots to AI
Startups
Published on 8 May 2026
The neobank’s banking service died in March
Fi Money cofounder Sumit Gwalani has stepped down after six years, following the shutdown of the startup’s banking service in March. The company says it is pivoting from consumer finance toward AI and enterprise technology, a shift that consumer-facing products and roles. The earlier restructuring announcement by Sujith Narayanan adds to the turmoil in India’s struggling neobanking partnerships.
- Sumit Gwalani exits Fi Money after six years
- Fi Money shut its banking service in March
- The startup is pivoting to AI and enterprise tech
- Consumer products and roles are expected to change
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times