# Niyo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/niyo

- Industry: Financial Services
- Headquarters: Bengaluru, India
- Website: www.goniyo.com
- Total disclosed funding: $149M
- Latest round: Series C (Feb 23, 2022)
- Investors on record: 9

## About

Niyo, based in India, is a financial technology company facilitating international payment solutions and travel services for Indian residents, enhancing their overseas transactions with innovative financial products.Founded in 2015 in Bengaluru, India, Niyo, created by Vinay Bagri and Virender Bisht, specializes in digital financial solutions. The company has successfully raised USD 30.00 mn in funding, primarily from Multiples Alternate Asset Management. Niyo's operations have expanded to include international payment services and travel-related offerings, with a total of 7 deals recorded to date.Niyo offers a range of international payment solutions and travel-related services designed specifically for Indian residents. The company’s primary products include zero forex markup international debit and credit cards, which allow users to transact in foreign currencies without incurring extra fees. These cards feature real-time spending alerts, access to ATMs worldwide, and capabilities to book flights, secure visas, and obtain international travel insurance through the Niyo app. The services target Indian citizens over 18 years old who possess a valid Aadhaar, PAN, and Indian passport, facilitating seamless transactions in over 180 countries and 130 currencies.In the most recent financial year, 2022, Niyo reported revenue of USD 6,361,807.60 and an EBITDA of USD -25,527,776.50. The company generates revenue through transaction fees associated with its international payment solutions and travel services, primarily from partnerships with banks like DCB Bank and SBM Bank, which issue co-branded cards. Niyo also offers benefits programs, such as earning Niyo coins for referrals and travel bookings, integrated into their service offerings.Niyo plans to leverage its recent funding to enhance its product offerings and expand into new international markets. The company is working on launching new products aimed at improving user experience in cross-border transactions. Niyo also intends to target specific geographic regions for growth, details of which will be disclosed in upcoming strategic announcements. The funding raised will support these initiatives, allowing the company to scale its operations and enhance its market presence.

## Funding rounds

- Series C, Feb 23, 2022, $100M — Accel, Lightrock, Prime Venture Partners, Venture Catalysts, One Madison Group
- Series B, Jul 9, 2019, $35M — Horizon Founders Capital, Tencent Investment, One Madison Group
- Series A, Jan 10, 2018, $13M — Social Capital, Horizons Ventures, Prime Venture Partners, One Madison Group
- Seed, Jul 19, 2016, $1M — Prime Venture Partners

## Investors

- Prime Venture Partners (https://capitalatlas.ai/funds/prime-venture-partners) — Seed, Series A, Series C
- Social Capital (https://capitalatlas.ai/funds/social-capital) — Series A
- Horizons Ventures — Series A
- One Madison Group (https://capitalatlas.ai/funds/one-madison-group) — Series A, Series B, Series C
- Horizon Founders Capital (https://capitalatlas.ai/funds/horizon-founders-capital) — Series B
- Tencent Investment — Series B
- Accel (https://capitalatlas.ai/funds/accel) — Series C
- Lightrock (https://capitalatlas.ai/funds/lightrock) — Series C
- Venture Catalysts (https://capitalatlas.ai/funds/venture-catalysts) — Series C