Niyo to acquire Bengaluru-based personal finance startup Index
This is Niyo’s second acquisition after acquiring Goldwise around mid-2020.
June 10, 2021 / 03:24 PM IST
Digital banking fintech Niyo will acquire Bengaluru-based personal finance startup Index and will integrate latter's personal finance tracking features into its products to offer customised experience to customers.
This is Niyo’s second acquisition after acquiring Goldwise around mid-2020. Launched in 2020, Index founders Anand Krishna and Kumar Siddhartha will join Niyo.
By integrating Index's offerings, Niyo's customers will get access to their earnings, savings, investments, and insurance in a single view. They will also get notifications to plan their expenses,and pay bills, according to a statement.
Niyo recently launched savings and wealth account NiyoX in partnership with Equitas Small Finance Bank. NiyoX is a zero balance account and is specially designed for millennials, where Index's offering could come in handy.
Vinay Bagri, co-founder and CEO of Niyo, said in the statement, “The aggregation and analytical capabilities of Index will help expand NiyoX’s functionality to equip users with the valuable insights they need to meet their financial goals. As always, our focus is on the customer and what we can empower the customer to do."
Anand Krishna, CEO, and co-founder of Index said in a statement, “Combined with unique digital banking offerings, we will (Niyo and Index) be able to give unrivaled personal finance tools to users."