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.