Cybrilla Technologies On Bank Statement: Why You See It And Is It Safe?
Why You See 'Cybrilla Technologies' On Your Bank Statement (And Why It's Safe)?
If you have activated the ‘Infinite’ feature of Grip Invest and noticed ‘Cybrilla Technologies Pvt Ltd’ on your bank statement, there's no need to be concerned.
Cybrilla is appearing here because it is Grip's technology partner for mutual fund investments. When ‘Infinite’ reinvests your earnings automatically into mutual funds, it is Cybrilla's secure infrastructure which helps process and route the transaction to the chosen mutual fund house. That's why its name is appearing in your bank statement.
What Is Cybrilla Technologies?
Bengaluru based Cybrilla was founded in 2010 by Satish Perala and Anchal Jajodia.
It provides the backend infrastructure that enables AMCs and distributors to process mutual fund transactions efficiently. It serves as the technology layer connecting mutual fund platforms, AMCs, and wealth-tech companies, helping facilitate secure and compliant investor transactions.
All this enables secure and compliant investor transactions for its partners such as Grip Invest, BharatPe, Mira Money, Conswitch and Dezerv.
Also, in March 2024, Cybrilla received a Category I Registrar and Transfer Agent (RTA) licence from SEBI, which is a mandatory authorisation from India’s market regulator in order to process securities transactions, handle dividend distribution and maintain investor records.
Even last year, when Grip Invest had announced its integration with the ONDC (Open Network for Digital Commerce), Cybrilla was appointed as the service provider for the backend platform that powered this integration.
What Cybrilla Does And Does Not Do With Your Money?
| What Cybrilla Does | What Cybrilla Does not Do |
| Securely routes your transaction to your chosen AMC, in a regulated and compliant manner. | Does not hold investor money |
| Operates under SEBI regulations, with a Category 1 RTA license. | Does not access or control investor money |
| Follows AMC authorisations | Does not decide where your invested money goes |
Why Did You Receive A UPI Mandate Request From Cybrilla?
- A Quick Refresher: What Infinite Does:
Infinite feature automatically reinvests your monthly earnings from bonds and SDIs instantly into mutual funds of your choice, thus ensuring you keep earning returns from your returns.
So instead of letting your monthly returns sit idle in your bank account, you get to enjoy seamless compounding and consistent wealth creation through Infinite.
- Why a New Auto Debit (Mandate) Request Showed Up:
It’s because you opted for our ‘Infinite’ feature. As Infinite enables you to invest your earnings into mutual funds through SIPs, an auto debit mandate request needs your approval so that your earnings can be reinvested into mutual funds every month.
Here’s how the UPI mandate request comes up:
Step 1: You need to agree to a Re 1 auto debit to accept the auto debit mandate request from Cybrilla.
Step 2: As you can see from the two screenshots below, the mandate clearly states how much you are allowing as an auto debit, and for how long.
Step 3: And that is it. This one-time effort is all that is needed to approve the auto debit mandate. Note that the Re 1 amount that was auto debited earlier will get credited back to your account once you approve the mandate request.
Step 4: Here is an example of what your email alert looks like when an auto debit takes place.
Step 5: If you are opting for ‘eNACH’ (Electronic National Automated Clearing House) instead of UPI autopay to activate the Infinite feature, here’s what the mandate process looks like:
- How to Verify This Yourself in 2 Minutes?
Step 1: Match the Debited Amount With Your Invested Amount
Step 2: Check the Official Authorisations from Mutual Fund Houses
Conclusion
By now, you must have understood that if you see ‘Cybrilla Technologies Pvt Ltd’ on your bank statement, there's absolutely no need to worry. Cybrilla is simply the regulated technology partner that helps safely route your mutual fund investments to the mutual fund houses on behalf of Grip Invest.
Cybrilla in no way holds or controls your money. I
n fact, if you have activated Grip’s Infinite feature, seeing Cybrilla on your statement is a sign that your earnings are being automatically reinvested into the chosen mutual funds, thus helping you benefit from seamless compounding as well as wealth creation.
If you have any questions, feel free to reach out to the Grip support team (support@gripinvest.in) or Cybrilla’s support team (contact@cybrilla.com ).
FAQs On Cybrilla Technologies
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Author: Grip Invest Editorial Team The Grip Invest Editorial Team is a group of Chartered Accountants, MBA (Finance) graduates, and Qualified Research Analysts dedicated to helping you invest smarter. We dive deep into India's fixed income landscape to deliver content that is accurate, up-to-date, and easy to understand. Whether you're exploring bonds, fixed deposits, or other fixed income opportunities, our guides cut through the noise and give you the clarity to make better financial decisions. |
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This communication is prepared by Grip Broking Private Limited (bearing SEBI Registration No. INZ000312836 and NSE ID 90319) and/or its affiliate/ group company(ies) (together referred to as “Grip”) and the contents of this disclaimer are applicable to this document and any and all written or oral communication(s) made by Grip or its directors, employees, associates, representatives and agents. This communication does not constitute advice relating to investing or otherwise dealing in securities and is not an offer or solicitation for the purchase or sale of any securities. Grip does not guarantee or assure any return on investments and accepts no liability for consequences of any actions taken based on the information provided. For more details, please visit www.gripinvest.in
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