Niyo Raises Us$100 Million In Series C Round Led By Accel And Lightrock

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India’s Niyo has raised $100 million in a new financing round as the consumer-facing neobank platform looks to add lending and other features to its offerings and make deeper inroads in the world’s second largest internet market. Niyo co-founder and chief executive Vinay Bagri told TechCrunch in an interview that the startup has amassed over 4 million customers across its banking and wealth management products. The startup said it is adding over 10,000 new users and is processing more than $3 billion of transactions on an annualized timeframe. Virender Bisht, co-founder and chief technology officer of Niyo, said the startup is seeing “massive tailwinds for digital financial products” since the outbreak of the pandemic.“Launched less than a year ago, our first-of-a-kind product offering ‘NiyoX,'” he said, “is democratizing the superior digital banking experience for users, and has witnessed tremendous user adoption.”Niyo plans to offer lending to customers starting next month. Niyo provides digital savings accounts and other banking services to largely salaried individuals in India.