Multipl launches bill payments through its Spending Account, targets ₹500 crore in 12 months
Mumbai, September 10, 2026: Consumer fintech platform Multipl today launched bill payments through its Spending Account in partnership with NPCI Bharat BillPay at the Global Fintech Fest 2026. The company is targeting more than two lakh users and ₹500 crore in bill-payment transaction value over the next six to 12 months.
The announcement comes a day after Multipl launched its Spending Account with UPI at GFF. The addition of bill payments expands the account beyond merchant transactions, allowing consumers to use money earmarked for predictable household expenses while keeping it invested in liquid mutual funds until it is required.
Users will be able to pay electricity, mobile, broadband, DTH, gas, water and credit card bills, along with other categories supported by the Bharat Bill Payment System ecosystem. BBPS provides the underlying bill-payment infrastructure, while Multipl integrates the capability into its Spending Account.
The payment journey is managed within a single flow on the Multipl app. When a user initiates a bill payment, the required amount is redeemed from the liquid mutual fund and transferred to the user’s linked bank account in the backend. The bill payment is then completed through the BBPS infrastructure without requiring the user to separately initiate and track the redemption.
The proposition is aimed at consumers who set aside money for upcoming bills several days or weeks before the payment is due. Instead of moving that money into a savings account in advance, users can keep it invested in eligible liquid mutual funds and potentially earn market-linked returns until it is needed.
“Utility bills and Credit Card payments are a big chunk of our monthly spends and this money is being kept idle until it is paid out. We want to change that behavior by allowing consumers to keep their bill payments money working until the moment it needs to be paid. By bringing investing, liquidity and bill payments into a single experience, we are making the Multipl Spending Account a much needed app for consumers,“ said Paddy Raghavan, Co-founder and CEO of Multipl.
The bill-payment feature was unveiled at GFF 2026 by Shweta Dasgupta, Head of Product at NPCI Bharat BillPay.
“The future of payments may not just be about moving money faster. It could be about making investments move at the velocity of payments. That is what makes the Multipl × BBPS proposition so exciting,“ Shweta Dasgupta, said.
Multipl works with UTI Mutual Fund, Axis Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund to provide eligible liquid mutual fund options. The company had earlier piloted its Spending Account with more than 20,000 users and over ₹20 crore in investments, translating into an indicative average balance of approximately ₹10,000 per user.
The initial bill-payment service will focus on on-demand transactions. Multipl will subsequently introduce payment reminders, scheduled payments and recurring or mandate-based payments, subject to applicable payment and mutual fund ecosystem guidelines.
Transactions will be subject to applicable BBPS, payment-partner and mutual-fund limits and processes. Charges, settlement timelines and refund conditions, wherever applicable, will be disclosed to users at the time of the transaction. Failed transactions will be reversed according to the relevant payment and redemption processes.
Multipl currently has more than five lakh users, has facilitated investments exceeding ₹150 crore and manages assets of over ₹125 crore.
About Multipl
Established in December 2019 and operational since 2020, Multipl is a Bengaluru-based consumer fintech platform founded by Paddy Raghavan, Co-founder and CEO; Jags Raghavan, Co-founder and COO; and Vikas Jain, Co-founder and CIO. The company introduced the concept of “spendvesting”, which helps consumers save and invest in curated mutual funds for planned lifestyle expenses instead of depending on credit or EMIs. Multipl is backed by Blume Ventures, growX Ventures, IIFL and Kotak Securities, along with angel investors including Kunal Shah, Vasanth Kamath, Rohan Gupta and Shradha Sharma.