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NIYO SOLUTIONS

NIYO SOLUTIONS

NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers.

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NIYO SOLUTIONS
NIYO SOLUTIONS
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Basic Information
NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers. Founded in 2015, NIYO operates as a neo-bank or challenger bank and offers digital banking products and services through partnerships with banks. Niyo is present in more than 30 cities across India with an employee strength of over 10000 across different cities. Niyo has a retail customer base of over 1.3 million and enterprise customer base of over 6000. The company's products include the Niyo Bharat card which is a zero-balance account, a Niyo taxsaver card and Niyo Global Account.
Legal Name
:
Finnew Solutions Pvt Ltd
Headquarters
:
Bangalore, Karnataka, India
Business Model
:
B2C,  B2B2C  
Founding Date
:
Nov 2015
No. of Employees
:
11 to 20
Core Team
:
1.  
VINAY BAGRI
Co-Founder
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2.  
VIRENDER SINGH BISHT
Co-Founder
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Timeline

2015

Company Incorporation

Nov | Company Incorporation

Incorporation of the company

2016

Product Launch

Sep | Product Launch

Launch of NIYO Benefits Card Product

2017

Product Launch

Jan | Product Launch

Launch of NIYO Bharat Product

2018

Product Launch

Sep | Product Launch

Launch of NIYO Global Card

2019

Raised Funding

Jul | Raised Funding

Raised Series B funding round

Revenue Stream
Commission on transaction
Fee-For-Service
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Target Market
B2B
We provide integrated payroll, salary banking and HRMS solutions to enterprises (SMEs) who employ blue-collared workers
Client Segment
:
FinTech,  SaaS  
Target Companies
:
Small Enterprise,  Medium Enterprise  
Target Geography
:
India  
B2C
We provide prepaid payroll cards along with mobile app for blue-collared workers and a zero forex mark-up cross border travel payment card for people who travel abroad
User Age
:
35 to 45,  More than 60,  26 to 34,  18 to 25,  46 to 60  
User Income
:
Upper-middle Income,  High Income,  Lower-middle Income,  Lower Income  
Location
:
India  
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Funding

Total Funding

$49.2M

Investors
:
1.  
Social Capital
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2.  
Tencent Holdings
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3.  
PRIME VENTURES
4.  
JS CAPITAL

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Detail Round Breakdown
Round 1
Round 2
Round 3

$35M

Series Name
:
SERIES-B
Date
:
9th Jul 2019
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