Neobanking startup Niyo raises $100M for product innovation, marketing and branding
Niyo has secured $100 million in its Series C funding round. The startup will use the money to innovate its products, marketing and branding, among other things. Niyo, a consumer neo-banking platform, has secured $100 million in a Series C round headed by Accel and Lightrock India, with Beams Fintech Fund participating. This round also included existing investors Prime Venture Partners and JS Capital. The new funds come after a more than 30-month wait for the Bengaluru-based startup, which raised $35 million in a Series B round in July 2019 from Horizons Ventures, Tencent, and others. According to a news statement from Niyo, the funds will be used for product innovation, marketing and branding, expanding its distribution reach, and employing top people across divisions. In collaboration with banks, Niyo offers digital savings accounts and other financial services. The company claims to have over 4 million customers across its banking and wealth management solutions, ...