Neo Banking Fintech Startup NIYO acquires Index
Niyo acquires fintech tracking app called Index which is into tracking and parsing data from gmail.
Index tracks all the receipts, bills and subscription via gmail parsing and notifies users on whatsapp.
Index's personal money tracking capabilities will be integrated into Niyo's products, particularly NiyoX. Users will get access to a best-in-class, 360-degree view of their earnings, savings, investments, and insurances in a single view with Index's capabilities integrated into NiyoX's products. Customers will also receive reminders to budget, pay bills, and save.
The founder of Niyo, Vinay Bagri was quoted saying below:
“The aggregation and analytical capabilities of Index will help expand NiyoX’s functionality to equip users with the valuable insights they need to meet their financial goals. As always, our focus is on the customer and what we can empower the customer to do. I am confident that integrating and launching Index within the comprehensive NiyoX app is going to be a stimulating experience for both us and our users.”
Bangalore headquartered Niyo was founded in 2015 and it aims to make banking simpler,smarter and safer.
Niyo also operates, NiyoX a 2 in 1 wealth + savings account, Niyo Money a rebranded Goalwise the company which Niyo acquired in 2020 and Niyo Bharat which provides banking services to business to manage payouts and benefits to their employees.
Niyo is founded by Vinay Bagri, He has spent 18 years in the corporate world working with diverse organisations like Parle, 3M, ICICI Bank, Standard Chartered, ING, and Kotak Mahindra Bank, Vinay is alumnus of IIM Calcutta.
Vinay is joined by Virender Bisht, a NIT Kurukshetra Alumnus, Virendra is the CTO of Niyo, Previously he has worked for Mobikwik and Makemytrip.
Index founders Anand Krishna & Kumar Siddhartha will also join Vinay and Virender in building NIYO.
Niyo competes with, Jupiter, FI, Open, RazorpayX in Indian Neo banking space.