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Funding

Niyo raises $35 million Series B led by Tencent

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Niyo logo
Date
Company
Niyo
What it does
Tencent backs neobank
Kind
Funding
Amount
$35 million
Stage
Series B
Based in
Bengaluru
Founded
2015

What they do

Neobanking startup Niyo closed a $35 million Series B round in July 2019, more than doubling what it had raised before

What happened

Horizons Ventures and Chinese technology group Tencent led the round, with JS Capital, an earlier investor, joining again

Why it matters

The money was meant to widen its banking app and cards for young salaried people and for travellers

The details

  • Niyo raised $35 million in a Series B round (a later growth round).
  • Horizons Ventures and Tencent led it.
  • Existing investor JS Capital took part as well.
  • The round came about 18 months after the $13.2 million Series A.

Investors

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