Curie Money gets NPCI nod to launch UPI app with mutual fund-linked payments

Fintech platform Curie Money has received final approval from the National Payments Corporation of India (NPCI) to expand its operations across the country, marking its transition from a closed beta to a full public rollout on Android and iOS.

Founded by Arindam Ghosh and Tushar Choudhary, Curie Money operates as a mutual fund–backed UPI app that integrates savings and payments within a single ecosystem. The platform allows users to invest their balances in liquid mutual funds while retaining instant access to their money through UPI transactions.

With an AMFI mutual fund distribution licence and UPI approval from NPCI, Curie partners with YES Bank and asset management firms including ICICI Prudential and Bajaj Finserv. The company said that each UPI transaction is processed by instantly redeeming the required amount from the user’s investment balance.

Curie users can earn up to 6.7% annualised returns through liquid mutual funds while spending seamlessly from the same pool of money. The model mirrors money market systems in developed economies, linking short-term returns and payment liquidity in one product.

The startup had earlier raised $1.2 million (around Rs 10 crore) in a seed funding round in December 2024, led by India Quotient with participation from institutional and angel investors. The funds are being deployed to scale technology, strengthen the core team, and expand partnerships nationwide.