back Back

Niyogin Fintech announces second quarter results

By Leandra Monteiro

November 03, 2021

  • API Banking
  • FinTech
  • India
Share

Niyogin Niyogin Fintech Limited, a publicly listed FinTech platform, announced its results for the second quarter and half year ended September 30, 2021.

Niyogin Fintech board approves the hypergrowth plan entailing upto INR 1 billion investment Quarterly gross transaction value crosses INR 20 billion. Q2FY22 Consolidated Total Income at INR 259.9 million, up 230.5% YoY.

Commenting on the Company’s performance, Amit Rajpal, Co-Founder, and Non-Executive Chairman, Niyogin Fintech Limited said, “We are excited by the Board’s decision to approve the hypergrowth business plan that entails an investment of upto INR 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 2 years.”

In addition, Tashwinder Singh, CEO, Niyogin Fintech Limited said, “Our business model has been validated with sustained operational and financial performance. We recorded an 18% sequential revenue growth as we crossed INR 20 billion in GTV this quarter. 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.”

Previous Article

November 03, 2021

Bitbns announces free trading for Shiba Inu and Dogecoin during Diwali

Read More
Next Article

November 03, 2021

Nimbla attracts £5.1m investment as embedded insurance takes off

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

API Banking

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Socure & Trustly to offer pay-by-bank solution with streamlined onboarding

Read More

February 28, 2024

Uncapped teams up with Yapily to scale funding for businesses

Read More

February 28, 2024

Dwolla launches open banking services for streamlined A2A payments

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023