BackBack Niyo Solutions eyes profitability in 2024, IPO in 2025

Niyo Solutions Inc., among India’s first digital-only banks, or neobanks, is on its way to turn profitable this year, and then plans to list its shares on stock exchanges in 2025, chief strategy officer Swapnil Bhaskar said in an exclusive interview. Niyo was among the first few neobanks in India. The others include Jupiter and Fi. If Niyo does go public, it would be the first neobank to do so.

The company, which began operations in 2015, is also looking to raise funds in the second half of this year to expand its travel-banking business as well as for acquisitions in the foreign exchange and lending segments, he said. Niyo had entered the travel-banking segment last year, with the launch of the Niyo Global card, which facilitates overseas transactions at zero foreign exchange charges.