Money Clarity

Walnut app alternatives in India

Walnut still exists, under a different name and a different owner. It was acquired by Capital Float in 2018, Capital Float rebranded to axio, and Amazon completed its acquisition of axio in September 2025 after RBI approval. The app is now positioned around income, expenses and credit together. If what you liked was the tracking on its own, that is what has changed - and these are the alternatives.

The problem: the tracker you remember is now a lending product

Walnut was, for years, the best SMS-based expense tracker in India, and it was free. Free tracking does not pay for itself, so it was bought by a lender, and the app was rebuilt around what a lender needs to know about you. That is not a scandal. It is the economics of the category, and it has happened to almost every free tracker in India.

Walnut acquired by Capital Float in August 2018 for a reported 30 million dollars
Capital Float rebranded to axio; the Android package identifier is still com.daamitt.walnut.app
Amazon completed its acquisition of axio in September 2025 after RBI approval, in a deal reported at around 200 million dollars
The listing is now built around income and expense tracking alongside credit, not tracking alone

How much this actually matters to you

For most people the practical impact is small and specific. It is worth being clear about what is genuinely different rather than being dramatic about ownership.

Your historical data does not disappear when an app is acquired, but the export path is worth testing before you rely on it
SMS-based tracking still works and still misses cash entirely, exactly as it always did
The reason you are offered a loan changes - it comes from the same data that categorises your spending
If you are not in the market for credit, you are being shown a product you do not want inside a tool you do

Alternatives, grouped by what you actually want

There is no single replacement, because Walnut did one thing well and the successors each do a different subset of it.

Automatic SMS capture, closest to old Walnut: Moneyview and axio itself both still do this well - note Moneyview is also lending-led now
Tracking inside your bank: Jupiter, Fi and the IDFC FIRST app see everything that moves through that account, with no permissions to grant
Manual by design, no bank access at all: Monefy, Money Manager by Realbyte, AndroMoney - incomplete months are the trade-off
Spreadsheet: unfashionable, complete, exportable, and the only option where nobody monetises your data

Where Unyfy sits, including the part that is not flattering

Unyfy also refers loans and cards and earns when someone switches. Pretending otherwise would be the same trick this page is about. The difference is which direction the trigger runs.

Unyfy reads transactions automatically, like Walnut did, and does not require SMS permission if you prefer statement upload
The output is not a category pie chart - it is a list of recurring charges, loan pricing and card mismatches you are paying for
An offer only appears when your own data shows you are overpaying, rather than as a permanent slot in the interface
If you want budgeting envelopes and detailed category rules, Moneyview or a manual app will suit you better

Common questions

Is the Walnut app still working in 2026?

Yes, under the name axio. Walnut was acquired by Capital Float in 2018, which rebranded to axio, and Amazon completed its acquisition of axio in September 2025 after RBI approval. The Android package is still com.daamitt.walnut.app, and the app now covers income and expense tracking alongside credit products.

What is the closest alternative to Walnut for SMS-based expense tracking?

Moneyview is the closest on automatic SMS capture, though it is also lending-led now. If you would rather not grant SMS permission at all, an app that reads statements or an account-linked bank app like Jupiter or Fi covers the same ground differently.

Why did Walnut change so much after being acquired?

Because expense tracking on its own does not generate revenue. Every free tracker in India is eventually funded by lending, advertising or data. Walnut was bought by a lender and rebuilt around what a lender needs. The useful question for any tracker you pick is not whether it monetises, but whether you can see how.

The honest summary is that free tracking in India has always been paid for by lending, and Walnut is simply the clearest example. Pick the app whose business model you can see. If the money is coming from somewhere, you should be able to say where.

Written by Danish Mirza, founder of Unyfy. 14 years in Indian lending and collections at Standard Chartered, Barclays, Ola Money and Uni Cards.
Last reviewed 2026-09-09.