Launch · Financial Services
Saafe launches consumer app and enterprise platform
By Startup Enthusiast ·
- Date
- Company
- Saafe
- What it does
- RBI-licensed account aggregator
- Kind
- Launch
- Founded
- 2021
- Sector
- Financial Services
What they do
Saafe is an RBI-licensed Account Aggregator that lets users see all their financial relationships in one place
What happened
It has launched a consumer app and a B2B platform, backed by Groww, with 16 million user handles and 240+ clients
Why it matters
The platform operates within India's Account Aggregator framework, ensuring users control what data is shared and with whom
The details
- Saafe is an RBI-licensed Account Aggregator that helps users see all their financial relationships in one app.
- It has launched two products: a consumer app called SAAFE and a B2B platform called Saafe 360.
- The consumer app gives a consolidated view of bank accounts, investments, loans, insurance, and other financial links.
- Users can manage consent – decide what data is shared, with whom, for how long, and withdraw it anytime.
- Saafe 360 is for banks, NBFCs, insurers, asset management companies, stockbrokers, and fintechs.
- It helps these institutions with onboarding, credit underwriting, portfolio monitoring, and fraud detection.
- The company does not store or use customer financial data; it only facilitates data sharing with user permission.
- The app is available on Android and iOS platforms.
The bigger picture
- Saafe operates within India's Account Aggregator (AA) framework, a regulatory system that lets users own and control their financial data.
- The service makes financial data portable and secure, allowing users to share it only for specific purposes.
- It is backed by Groww, a major Indian fintech platform, signaling confidence in the AA ecosystem.
About the business
- Saafe is an RBI-licensed Account Aggregator – a regulated entity that enables secure, consented data sharing between financial institutions and users.
- It has two products: the consumer app SAAFE and the enterprise platform Saafe 360.
- The consumer app shows a user's financial relationships across banks, NBFCs (non-banking financial companies), insurers, asset management companies, stockbrokers, and fintechs.
- The enterprise platform helps 240+ FIU clients (financial information users) with onboarding, credit underwriting, portfolio monitoring, and fraud detection.
- Saafe has 16 million user handles (accounts registered for data sharing).
- The company makes money by charging its institutional clients for access to the platform.
- It does not store or use customer data, ensuring privacy and compliance.
- Customers control exactly what data is shared, with whom, for what purpose, and for how long, and can withdraw consent anytime.
Investors
- Groww (backer) — An Indian fintech platform that invested in Saafe (details undisclosed).
Founders
- Venkatesh Krishnamoorti, Founder
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