Spring Marketing Capital backs Niyo

Travel banking fintech platform Niyo has raised strategic funds from Spring Marketing Capital.

As part of this partnership, Spring Marketing Capital will contribute to Niyo in the travel banking sector by helping with the overall brand strategy, partnerships and campaigns. 

Co-founded by Vinay Bagri and Virender Bisht in 2015, Niyo has two lines of business – global banking and mass banking. Their global banking flagship products Niyo Global provides banking for international travellers.

Niyo offers these digital banking services in partnership with DCB Bank, Equitas Small Finance Bank, and State Bank of Mauritius. Currently, Niyo claims to have a customer base of 4 million. 

Niyo closed $130 million Series C round led by Accel, Lightrock, and Multiples. Its other investors include Prime Venture Partners, Horizons Ventures, Tencent, JS Capital, Social Capital, and Beams Fintech Fund. 

Niyo operates out of corporate offices in Bengaluru and has a sales presence in more than 20 states and union territories.