Avendus Capital Advises Niyo on Its USD 30 MN Fundraise From Multiples Alternate Asset Management

“Niyo’s products are designed to deliver superior economic value and a frictionless, highly engaging experience to customers. It’s amazing that Niyo is able to reach customers in 16,000+ pin codes which cover 80% of the pin codes in India. Vinay and Viren are building Niyo with a strong technology and partnership DNA. We are very excited to partner with them in the journey to build India’s leading fintech platform and accelerate digital adoption of financial
products across the country.”
 

We are extremely excited to partner with Multiples as we continue on our growth journey to transform the way India banks. We hope to leverage the deep expertise and relationships that the Multiples team brings in the Indian financial services domain as we're looking to expand our capabilities to build a highly valuable consumer financial services platform.

With this fundraise, our focus is on enhancing product development, improving our product suite to have more consumer-focused products like credit cards, remittances, loans etc. Our foray into new product categories will help us leverage the massive tailwinds for digital financial products the market is seeing today.

It has been a pleasure to partner with Vinay, Viren and the Niyo team again as they continue to lead the charge in the consumer fintech space. This new investment by Multiples will further strengthen the company’s ability to offer an allencompassing financial product suite to its consumers.