Niyo cut its net loss by 58% to ₹32.6 crore in FY26. This comes as the travel fintech aggressively diversified its revenue streams beyond its core zero-forex cards. The company attributes much of its efficiency gains to AI-led improvements across operations and customer service.
How We Got Here
Niyo, founded in 2015, has raised close to $180 million to date from investors like Accel and Tencent. Its primary product is a zero forex markup card for international travelers, a market it has dominated for years.
The Numbers
- Operating revenue jumped 80.1% YoY to ₹158 crore, significantly up from ₹87.8 crore in FY25.
- EBITDA loss narrowed 60% to ₹32 crore in FY26, a sharp reduction from ₹77 crore in FY25.
- Gross revenue from network partner services nearly doubled, making up 71% of the gross top line at ₹132.4 crore.
- Niyo recently agreed to acquire RemitX for ₹11.4 crore, expanding its reach into remittance and forex offerings.
What Happens Next
🇮🇳 Why This Matters for India
For Bangalore-based fintech founders building niche travel or forex products, Niyo's push into broader financial services suggests a growing competition for market share.
The Take
While the headlines focus on revenue and loss, Niyo's quiet bet on AI for operational efficiency is the real story here. Expect other fintechs, especially in competitive segments like neo-banking, to accelerate their own AI adoption in the next 12 months just to keep pace.
Source:
Inc42 ↗