Avendus Capital Advises Niyo on Its USD 100 mn Series C Funding Led by Accel and Lightrock India

We have always strived to offer tangible value and a delightful experience to our customers. In the process, we are transforming the way India banks. We are excited to partner with Accel, Lightrock and Beams on our journey as we look to accelerate the mission of taking pathbreaking digital banking products to millions of users in India and positively impact their financial wellbeing.

We strongly believe that neo-banking holds great potential to transform the banking experience for millions. It has been a privilege to partner with Vinay and Viren as they revolutionize this space in India. This investment is a strong testament to their customer-first approach of delivering tangible benefits with a clear path to become the primary relationship for users across various financial products.

We are excited to back the fastest growing neo-bank in India, Niyo. Vinay, Viren and team have built a fantastic product with a clear value prop for customers, which is reflected in their phenomenal growth. We look forward to partnering with Niyo in changing the way India banks.

We are extremely excited about the potential of Niyo in reimagining the banking experience for millions of users in India across the income pyramid. Neobanks are an emerging asset class in India and we believe that the quality of Niyo’s team, customer understanding and technology stack will enable them to emerge as the leader in the space.

We are seeing massive tailwinds for digital financial products since COVID. Launched less than a year ago, our first-of-a-kind product offering, NiyoX, is democratizing the superior digital banking experience for users and has witnessed tremendous user adoption. With this raise, we aim to expand the product suite for our customers and meet their growing expectations.