Wednesday
July 10
2019

India’s NiYO ‘Neo-Bank’ Raises $35m to Help Blue-Collar Workers Access Financial Services

By Manish Singh

NiYO Solutions, a Bangalore-based “neo-bank” that helps salaried employees and blue-collar workers access company benefits and other financial services, has raised $35 million in a new funding round to expand its business in the nation and explore international markets for some of its products.

The four-year-old startup, which serves small and medium businesses and other salaried employees across India, raised its Series B from Horizons Ventures,  Tencent and existing investor JS Capital. It has raised $49.2 million to date, with its $13.2 million Series A closing in January last year.

Photo courtesy of lirneasia.

Source: TechCrunch (link opens in a new window)

Categories
Finance
Tags
emerging markets, financial inclusion, financial innovation, financial services, startups, venture capital