In a LinkedIn post, cofounder Sujith Narayanan said the company’s senior leadership went through a period of “honest reflection” to mobilise the firm’s resources in a different direction. This will mark a departure from Fi’s original mission of providing a “thoughtful and human” digital banking experience for individual consumers.
“Clarity also means letting go of what no longer fits,” Narayanan stated. “As we realign, some products will be sunset and thus a few roles are being impacted.”
Narayanan did not specify the exact number of employees affected but emphasised that the job cuts were a result of the new organisational structure rather than a reflection of individual performance.
The decision comes after years of operating in what Narayanan described as a “traditional, highly constrained ecosystem”. Despite winning industry awards and securing patents for its consumer innovations, the leadership acknowledged that “not every bet paid off the way we hoped”.
“We asked where we do our strongest work, and where we can build something that truly lasts. The answers kept pointing in one direction — deep technology, AI, and building complex systems for startups & large enterprises alike. That’s where we consistently do our best problem-solving. And that’s where Fi’s next chapter will focus — the intersection of AI and B2B,” he wrote.
Fi was founded as a neobanking platform by Narayanan and Sumit Gwalani, both former Google Pay executives, in 2019.
