Tencent has contributed to a $35m series B round for Niyo Solutions, the operator of a mobile bank that gives blue collar workers access to financial services.
India-based fintech developer Niyo Solutions has obtained $35m in a series B round backed by internet group Tencent, TechCrunch reported yesterday.
Horizons Ventures and JS Capital filled out the round, which brought Niyo’s total funding to $49.2m.
Niyo Solutions operates a mobile bank that relies on established financial institutions – Yes Bank and DCB Bank – to offer financial services to blue collar workers who may otherwise find it difficult to access products reserved for wealthier clients.
The platform enables…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
