niyogin fintech: Niyogin Fintech to invest Rs 100 crore; gross transaction value crosses Rs 2,000 crore
The company caters to India’s underserved MSMEs and rural individuals and is engaged in diversified segments such as rural tech, credit and wealth tech. It also operates on a hybrid model where it provides technology solutions across its different segments to its partners, who in turn handle the physical leg of customer servicing for a revenue share. In rural areas, the company has been helping retail stores to offer payments and financial transactions to customers in their vicinity.
“We are excited by the board’s decision to approve the hyper growth business plan that entails an investment of up to Rs 1 billion to create the most comprehensive financial inclusion platform offering in the market enabling the business to scale rapidly and build multiple-interlinkages with open architecture and in a modular format. Given our strong balance sheet, we can support such investments and this sets us up for exponential growth over the next two years,” Amit Rajpal, co-founder at Niyogin Fintech.
During the quarter ended September, the company posted consolidated total income of Rs 25.9 crore, a 230.5% year-on-year growth. The total rural-tech partners stood at 518, an increase of 45.9% while rural distribution touch points grew two-fold to 198,593. Gross transaction value () including payouts of rural-tech for the quarter grew to Rs2,100 crore.
“Our decision to invest incremental capital in the business will enable us to expand the addressable market and add multiple products to make this the most comprehensive fintech infrastructure platform. This will be a holistic system for our partners, experienced as a standalone application, API or SDK depending on their requirements,” said Tashwinder Singh, CEO, Niyogin Fintech Limited.