Niyo

With offerings in forex cash, debit and credit options, along with a slew of travel-related products and services, Niyo looks to turn profitable in two years.

Accel-backed neobanking startup Niyo shifts gear, will become a travel tech platform

Niyo’s travel tech platform will essentially cover the entire spectrum around travel, where users can apply for visas and book travel experiences, concierge services, tour packages, travel insurance, and the like.

Neobanking platform Niyo rolls out second ESOP buyback plan

In April 2022, Niyo granted about Rs 40 crore of ESOP value to its employees in its annual appraisal.

Equitas Small Finance Bank plans a super app, double down on fintech ties

The bank is looking to double its current and savings account deposits in the next six months by leveraging its digital capabilities.

PE firm Multiples invests $30 million in neobanking platform Niyo

Niyo will use the funds to expand its product offerings by adding more consumer-focused products such as credit cards, remittances, loans, etc

Freo starts offering savings account with Equitas Small Finance Bank

Freo’s move is opposite of that to its peers in the consumer neobanking platform space like Jupiter, Fi, Niyo, and others. These players began by offering savings accounts in partnership with banks and are now foraying into lending.

Exclusive | Niyo in talks to raise $100-150 million, to also acquire lending platform Smartcoin

The planned fundraise is said to fetch the company a valuation of $500 million and is likely to be led by private equity firm Multiples.

How Federal, Equitas Small Finance, RBL and SBM Bank India are riding the bank-fintech partnership wave

These banks are expanding their digital presence with a branch-lite, distribution heavy model. With a strong digital presence through fintechs, the banks are looking to serve the next set of digital customers.

Niyo raises $100 million led by Accel, Lightrock; to focus on lending next

The fundraise comes almost three years after Niyo's Series B round in July 2019. The company plans to begin lending and insurance offerings in the coming year.

NiyoX launches ‘Invest the Change’, allows users to convert spare change into investment

The new feature allows the users to round up all their spends (food order, cab fares, subscriptions, fund transfers, etc.) made with NiyoX to the next 10, 50, or 100 and invest the spare change into a mutual fund of their choice.

Niyo to acquire Bengaluru-based personal finance startup Index

This is Niyo’s second acquisition after acquiring Goldwise around mid-2020.

ICICI Bank to issue prepaid cards to MSMEs in collaboration with Niyo

MSMEs can load the cards with the salary of a worker, who can then use it seamlessly for any transaction as per need.

Digital India: Meal vouchers to soon be available in form of cards, e-wallets

Meal coupons in paper format will need to issue electronic forming or cards before December 31, 2017. RBI also said that maximum value of PPIs cannot exceed Rs 1,00,000.