با برنامه Player FM !
EP33: Neo Banking & the Evolution of Banking {Vinay of NiYO}
Manage episode 270380230 series 2770978
EP33: {Vinay Bagri, Co-founder & CEO of NiYO}
On the episode we discuss Vinay's fascination with Salary Accounts, banking and its evolution and what’s Neo about Niyo.
We chat with Vinay Bagri, the co-founder & CEO of NiYO, a Fintech that was founded in 2016 offering a digital banking solution for salaried employees. NiYO started off by digitizing the entire payroll and benefits process for contract workers in manpower supply companies - the atypical blue collar worker who earns Rs 15,000 per month. Today NiYO has over 5k clients servicing over 2 million or 20 lakh customers via their Salary account product.
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
→ Don’t forget to subscribe to the Newsletter via stars.substack.com so that you can receive future podcast releases delivered to your inbox!
→ Full episode of the podcast is available on my YouTube Channel
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
NiYO has continued to evolve and launched products with their banking partnerships with IDFC Bank, DCB & Yes Bank. The main product that caters to the blue collar account holders enables users carry out financial transactions including payment of bills and availing small ticket loans through the app that is available in 10 languages.
NiYO has raised $49.3 million in total, including Seed a round from Prime Venture Partners, Series - A from Social Capital, and the last funding of $35 million in Series B round led by Horizons Ventures, Tencent and JS Capital LLC. They had closed FY2019-20 with a $10M turnover.
Stay Safe & do share the episode!
- V (@varunvummidi)
Timeline:
01:25 - Intro
04:00 - Branchless Banking in India
05:40 - Evolution of digital banking
08:00 - Bankers of the 00s era
11:20 - Innovating on Salary Accounts
12:38 - What’s ailing the bank?
16:15 - Regulations in Tech?
20:00 - Evolution of banks around the world
23:48 - Open Banking Vs Neo Banking
26:15 - Insight to building NiYO
30:48 - Dealing with blue collar users using Prepaid Wallets
34:15 - Growing 10x in 2 years just using referrals
38:00 - 5k clients & 2 million customers
40:40 - Partnering with banks & co-creating Products
45:30 - Monetizing
48:15 - Portfolio approach to banking
52:00 - $ 49M in capital raised & fund raising from global investors
58:36 - Creating Products for Diff customers
1:03:33 - HIRING
57 قسمت
Manage episode 270380230 series 2770978
EP33: {Vinay Bagri, Co-founder & CEO of NiYO}
On the episode we discuss Vinay's fascination with Salary Accounts, banking and its evolution and what’s Neo about Niyo.
We chat with Vinay Bagri, the co-founder & CEO of NiYO, a Fintech that was founded in 2016 offering a digital banking solution for salaried employees. NiYO started off by digitizing the entire payroll and benefits process for contract workers in manpower supply companies - the atypical blue collar worker who earns Rs 15,000 per month. Today NiYO has over 5k clients servicing over 2 million or 20 lakh customers via their Salary account product.
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
→ Don’t forget to subscribe to the Newsletter via stars.substack.com so that you can receive future podcast releases delivered to your inbox!
→ Full episode of the podcast is available on my YouTube Channel
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
NiYO has continued to evolve and launched products with their banking partnerships with IDFC Bank, DCB & Yes Bank. The main product that caters to the blue collar account holders enables users carry out financial transactions including payment of bills and availing small ticket loans through the app that is available in 10 languages.
NiYO has raised $49.3 million in total, including Seed a round from Prime Venture Partners, Series - A from Social Capital, and the last funding of $35 million in Series B round led by Horizons Ventures, Tencent and JS Capital LLC. They had closed FY2019-20 with a $10M turnover.
Stay Safe & do share the episode!
- V (@varunvummidi)
Timeline:
01:25 - Intro
04:00 - Branchless Banking in India
05:40 - Evolution of digital banking
08:00 - Bankers of the 00s era
11:20 - Innovating on Salary Accounts
12:38 - What’s ailing the bank?
16:15 - Regulations in Tech?
20:00 - Evolution of banks around the world
23:48 - Open Banking Vs Neo Banking
26:15 - Insight to building NiYO
30:48 - Dealing with blue collar users using Prepaid Wallets
34:15 - Growing 10x in 2 years just using referrals
38:00 - 5k clients & 2 million customers
40:40 - Partnering with banks & co-creating Products
45:30 - Monetizing
48:15 - Portfolio approach to banking
52:00 - $ 49M in capital raised & fund raising from global investors
58:36 - Creating Products for Diff customers
1:03:33 - HIRING
57 قسمت
همه قسمت ها
×به Player FM خوش آمدید!
Player FM در سراسر وب را برای یافتن پادکست های با کیفیت اسکن می کند تا همین الان لذت ببرید. این بهترین برنامه ی پادکست است که در اندروید، آیفون و وب کار می کند. ثبت نام کنید تا اشتراک های شما در بین دستگاه های مختلف همگام سازی شود.