Neobank Fyp acquires Edunify

Fyp, a neobank owned by Pockket Payment Technologies, empowering teenagers with digital banking solutions and financial products, has acquired edtech startup Edunify as part of its expansion plans. With this acquisition, the company aims at expanding its user base through school tie-ups across India.

Fyp, in partnership with Yes Bank and Visa Network, allows teens to receive and send money, and shop offline and online with a digital prepaid card number. It also helps teens keep a track of all their expenses in one place, helping them become smart with money decisions through in-app gamification features and bite-sized content.

Kapil Banwari, Founder and Chief Executive of Fyp said, “With schools owning a large part of our audience, we found Edunify as a natural fit to support our massive acquisition plans of teenagers and parents. The acquisition will help us in expanding our user base and to drive deep fintech integrations with schools as part of our larger strategy.”

Edunify runs a pan-India school discovery platform with 1.2 lakh schools in 725 cities, helping around 1.5 lakh parents in their admissions journey since its inception and empowered 100+ schools in seven cities with their admission and fee management services.

Harsh Karamchandani, Co-Founder and CTO of Edunify, said, “We are delighted to be part of Fyp’s team and see great synergies with their vision to make teens and parents of India more financially aware, literate and empowered.”