India, April 29 -- Bengaluru-based neobank Fi, which counts Peak XV and Temasek among its backers, has become the latest fintech startup to secure a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI).

Fi cofounder and chief executive officer Sujith Narayan announced the news in an internal memo to employees on April 29.

Inc42 has not accessed the memo in question and Narayan declined to comment on Inc42's queries on the development.

"This gives us access to several direct integrations from bureaus to risk databases that help our product in more ways than one. We can now experiment with lending without external dependencies. This also sets the ground for the next set of licenses that we intend to seek this...