JS Capital, which joined the startup’s USD 14 million Series A round, also participated in this round. NiYo Solutions, founded in 2015, offers blue-collar workers with a salary account inside an app, which brings tax-compliant payroll and benefits processing and streamlines expenditure planning. The account also allows its holder to get 50% of his/her salary in advance at zero interest and have accesses to various wealth management tools.
NiYO claims in the press release that it is now serving around 1 million users in India and predicts that it can serve 5 million users in next 3 years. The Chinese internet giant Tencent also backs Indian startups such as Flipkart and Ola.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.