How well do you know your finances? How many bank accounts does your parent or spouse hold? How many life insurance policies are in your name? How much does the fixed deposit your father opened in your name a year ago hold?
Most Indian families assume they know their finances — until they encounter a sudden accident, illness, or the death of a loved one.
In those moments, grief is often accompanied by confusion, paperwork, and unanswered questions. Family of Loved Ones (FOLO) was built for that space — not out of fear, but out of care.
On an ordinary day, FOLO feels reassuring — clean screens, neatly organised sections, and a simple promise: everything that matters to your financial life, in one secure place. But it is built for the moments no one prepares for — the sudden pauses, the unanswered questions, the times families sit together trying to make sense of what is left behind.
FOLO steps in when memory fails and documents are scattered, offering clarity when emotions run high. It is less about tracking numbers and more about ensuring families are not left searching for answers they did not even know they needed.
For Munmun Desai (42), FOLO’s founder, those moments arrived in 2022 with the sudden loss of her cousin brother. As grief settled in, she became the person her family turned to — the one expected to “know what to do”.
“In India, we don’t organise our financial lives, and we rarely share them with the people we love. We tell ourselves we’ll get to it someday, but if we don’t organise today, our families are left to struggle tomorrow,” says Munmun to The Better India.
With years of financial expertise behind her, she found herself piecing together fragments — bank accounts here, policies somewhere else, documents scattered across emails and folders. That experience stayed with her. It raised a difficult question: If someone like her felt lost, what happens to families who don’t know where to begin?
Founded by Vishal Purohit and Munmun Desai in 2024, FOLO, based in Mumbai, was built on the belief that financial clarity should not arrive only during a crisis. The app aims to turn uncertainty into preparedness and silence into shared understanding.
A problem bigger than one loss
Munmun is a financial expert and a veteran in her field, with over 18 years of experience at a financial firm, where she rose from management trainee to managing director. Finance had always been her world, yet the loss of her cousin brother shifted how she saw it.
As she tried to help her family navigate the aftermath, she began noticing gaps she could no longer ignore.
Initially, Munmun believed the problem was specific to women. She started offering pro bono financial awareness sessions, hoping to bridge what she thought was a gendered divide. But within months, a larger truth emerged.
The confusion, silence, and lack of preparedness cut across households, age groups, and levels of financial literacy. It was not a women’s issue — it was a systemic one affecting families across India.
That realisation was a turning point. Driven by a sense of responsibility, Munmun left her role as managing director to focus fully on FOLO, determined to give families the clarity they needed most.
Munmun’s sister, Meetu Sharma, recalls, “We were shaken and vulnerable, but I saw Munmun shifting gears at that time. She did not just focus on the pain of our family, but on all the families who must be going through the same.”
India has a massive volume of unclaimed financial assets — not because families do not care, but because they do not know. Insurance policies exist that no one remembers. Bank accounts remain untouched. Investments lie forgotten due to missing nominees or small mismatches in documentation. Behind every number is a story of stress, confusion, and avoidable struggle.
For Munmun, this was not just a financial gap — it was a human one.
Family, friends, and the future of loved ones
At its core, FOLO, with a user’s consent, securely connects to over 350 financial institutions, pulling information from bank accounts, investments, loans, and other financial touchpoints through trusted data custodians.
All this data is brought together into one consolidated view, allowing users to see their entire financial picture in a single place — what they own, what they owe, and where they stand. Assets and liabilities appear side by side, offering a clear snapshot of net worth without the need to switch between apps or documents.
FOLO helps users track their net worth, manage all assets in one place, and securely share financial information with family.
FOLO also removes the burden of manual updates. Automatic syncing keeps information current, reducing errors and saving time. Security sits at the heart of the platform, with end-to-end encryption, multi-factor authentication, and full compliance with SEBI regulations as a Financial Information User (FIU).
What sets FOLO apart is its family-sharing feature. Users can securely share access with trusted loved ones, ensuring clarity and preparedness.
FOLO has not only brought change to Indian families but has also reshaped how conversations unfold within Munmun’s own home.
“My father now makes sure that all his cousins are aware and comfortable talking about money. He often tells us how one uncle got excited while checking his net worth as he sat in the park,” shares Meetu.
The net-worth tracking application began development in 2024, but it became truly meaningful in April 2025, when FOLO launched its beta version. Within weeks, more than 60,000 people joined the platform, sharing feedback and reaffirming that the solution genuinely mattered to them. Currently, the app is completely free, with no revenue model in place.
Hemant Chauhan, a banking professional, realised the vulnerability of unorganised finances when his father fell ill in September. As he navigated a period of uncertainty, FOLO became his safety net, helping him manage everything in one place.
“I feel settled now. I know where everything is, what we have, what we don’t, and what needs attention. It’s a kind of mental clarity I didn’t realise I was missing,” says Hemant.
Today, FOLO is built by a 10-member team of engineers who came together around a shared belief that this problem needs solving. The team spent months addressing one of India’s toughest realities — a highly fragmented financial system where data lives in silos and behaves differently across institutions.
“Every decision we make is guided by three values: clarity, empathy, and trust. We simplify financial lives with care, because we are dealing with real families and real fears — and the trust people place in us must always come first,” Munmun tells The Better India.
A key part of FOLO’s growth has been its early users. Through a 100-member co-creator community called FOLO Pioneers, feedback, discussions, and real-life use cases actively shape the product.
What makes the journey meaningful are the stories users share — of forgotten investments rediscovered, missing nominees identified, and long-lost assets finally brought to light. Each story reinforces why FOLO exists.
“The Account Health Scan is my favourite. It’s like a financial health check-up. It tells me if something is missing, if a nominee isn’t added, or if a KYC needs attention. It makes sure everything is in order without me even thinking about it,” adds Hemant.
The goal is not higher returns, but peace of mind — the assurance that no family will have to start from zero during a difficult moment.
Designed for today, built for the future of Indian families
For Munmun and her team, the focus right now is not monetisation but impact. The mission is to build something truly valuable before building around it.
The 10-member FOLO team works to simplify finances and support Indian families with clarity and care.
FOLO’s long-term vision is ambitious: to become India’s financial clarity infrastructure — a single, secure mirror where individuals and families can see, protect, and plan their financial lives together.
“For us, organising the financial lives of India’s families is an act of love. With FOLO, we have got a chance to build something that builds us back,” adds Munmun.
An act of love, not a plan driven by fear
We spend years earning, saving, and investing, pouring both effort and emotion into building a good life. Yet we rarely pause to ensure that everything we have built is organised and easily accessible to the people who matter most.
We tell ourselves there will be time later, but in a world as uncertain as ours, that “someday” is never guaranteed.
Preparedness, Munmun believes, cannot wait for tomorrow — it begins today.
FOLO is built around the simple hope that financial organisation becomes an act of care, not a crisis. One thoughtful step taken today can spare families uncertainty tomorrow, allowing them to move forward with confidence, not questions.
All images courtesy Munmun Desai
