NiYO raises the fintech pitch by launching SME banking, global forex card

The neo-banking start-up recently raised $35 million in Series B funding led by Horizons Ventures, Tencent and JS Capital LLC

Thirty-four-year-old Lakhan Yadav, who earns Rs 15,000 a month, had an account with a nationalised bank but he struggled to keep a minimum balance. When his SME employer offered him a zero-balance, digital salary account from a fintech start-up in tie-up with a private bank, he was more than happy. He could download the app and transact in his native language or use its speech-enabled feature. 

Enabling this is the Bengaluru-based digital banking and fintech start-up NiYO Solutions, which recently raised $35 million in Series B funding led by Horizons Ventures, Tencent and JS Capital LLC. NiYO is targeting over