FinMapp gets licence from PFRDA and Irdai to sell NPS, insurance


Financial services company FinMapp on Wednesday said it has received licence from Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension Scheme (NPS). It has also acquired a registration certificate from the Insurance Regulatory and Development Authority of India (Irdai) recognizing it as a corporate agent.

“The licenses will aid the company in selling insurance and NPS products to its customers as a verified seller and help expand its customer base,” FinMapp said in its statement. 

The company will launch NPS as an investment tool on its app in the coming months.

“The IRDAI & PFRDA certificate is a significant turning point in our journey. It will help us strengthen our financial services and validate our existence as a genuine seller of NPS and insurance products. We aim to build a diverse, robust, and full-service platform for all digital financial products. This certificate will get us closer to our vision of becoming the next-generation financial advisor and a one-stop marketplace for all financial products,” said Kumar Binit, founder and CEO, FinMapp.

The company offers financial products ranging from mutual funds to bank deposits on its app. The company said it is “a one-stop marketplace for all financial products made digitally available by top banks, NBFCs, insurance companies, mutual funds institutions and capital market.”

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