News From Press Niyo plans to apply for mutual fund licence; aims to double user base by end of FY22

Niyo plans to apply for mutual fund licence; aims to double user base by end of FY22

Niyo had had last year announced the acquisition of Goalwise, an MF distribution platform. The company already distributes insurance policies, has a presence in wealth management through an acquisition and also offers stock buying.

The Economic Times Mar 27, 2021

Niyo, a neobank, is keen to enter the asset management space and mulling to apply to Sebi for a mutual fund licence, a company official said on Thursday. The Bengaluru-based fintech firm, which started off with prepaid instruments, is targeting to more than double its user base to 5 million by the end of FY22 from the present 2 million on the back of new tie-ups with players in the financial services space.

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