I am shutting down my Startup
I am shutting down my startup MoneyFit.io
We launched MoneyFit in July 2020 after working day and night apart from our regular jobs. We wanted to create a platform where users can see their wealth from all sides be it Mutual Funds, Stocks, or Crypto.
After launching we started getting organic users and installs and reached 6000+ app installs organically.
But due to competition in fintech in India and new accessibility changes by RBI, we cannot compete with big players now. The other reason for shutting down is infrastructure cost which I have been paying for 2 years to keep MoneyFit functioning.
While MoneyFit is going away, we have other systems which we built for MoneyFit but now will be born as a standalone product. Stay tuned for that.
For the existing users: We don’t want to abandon our existing users which is why we have partnered with one another fintech platform, they are trying to simplify finance for the world.
We will be providing our users vouchers for that app so they will be able to use the platform for free and get a feel for it.
We will be updating our app for the shutting down notice with vouchers for our users and will also start sending emails regarding this in the coming day.
Stay tuned for my next destination!!