Niyo Expands its Fintech Portfolio with Acquisition of Index

Fintech startup Niyo announced its acquisition of Bengaluru-based personal finance startup Index, marking a strategic move to bolster its digital banking offerings. While the financial terms of the acquisition remain undisclosed, Niyo revealed that the entire Index team, including founders Anand Krishna and Kumar Siddhartha, will join its ranks.

Integration for Enhanced User Experience

Niyo intends to leverage Index’s expertise in personal finance tracking to enhance its product suite, particularly NiyoX. This integration aims to provide users with a comprehensive overview of their financial landscape, encompassing earnings, savings, investments, and insurances within a unified interface. Additionally, customers will benefit from proactive insights to facilitate expense planning, bill payments, and savings management.

Empowering Financial Wellness

Vinay Bagri, Co-Founder and CEO of Niyo, emphasized the significance of Index’s aggregation and analytical capabilities in fortifying NiyoX’s functionality. By equipping users with actionable insights, Niyo aims to empower individuals in achieving their financial objectives and cultivating long-term financial wellness.

Continual Growth and Expansion

This acquisition marks Niyo’s second strategic move following its acquisition of Goalwise in mid-2020. The integration of Index aligns with Niyo’s commitment to innovation and customer-centricity, further solidifying its position in India’s neo-banking landscape. Niyo recently unveiled NiyoX, a revolutionary 2-in-1 savings and wealth account, in collaboration with Equitas Small Finance Bank. Offering a zero balance account with competitive interest rates and a comprehensive wealth management suite, NiyoX garnered significant traction, witnessing over 200,000 customer account openings within two months of its launch.

Vision for the Future

Anand Krishna, Co-Founder and CEO of Index, expressed optimism about the synergies between Niyo and Index, highlighting Niyo’s leadership in the neo-banking sector. With a shared commitment to technological innovation and customer-centric solutions, the combined entity aims to redefine digital banking experiences and empower individuals on their financial journeys.

As Niyo continues to expand its portfolio and enhance its offerings, the acquisition of Index underscores its dedication to driving financial inclusion and revolutionizing the banking landscape in India. With a focus on innovation, collaboration, and customer value, Niyo remains poised for sustained growth and success in the dynamic fintech ecosystem.