Niyo receives Rs 45 Cr from its parent entity; valuation reaches Rs 1020 Cr

Neo-banking startup Niyo has received Rs 44.9 cr from its US-based parent entity, Niyo Solutions Inc.The company claims to have a customer base of 1.1 mn users in India and over 1 lakh users in 160 other countries with 9,000+ corporates.

Niyo provides co-branded products in partnership with banks to blue-collar workers, international travelers, and millennials. The platform has tie-ups with Yes Bank, IDFC First Bank, and DCB Bank to provide bank account services. It provides a limited amount of free withdrawals from ATMs after which users are charged for cash withdrawals. 

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