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Launch · Financial Services

Saafe launches consumer app and enterprise platform

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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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