Launch
Niyo launches zero-markup forex model
By Startup Enthusiast ·
- Date
- Company
- Niyo
- What it does
- Forex buy and sell at live rates
- Kind
- Launch
- Based in
- Bengaluru
- Founded
- 2015
What they do
Niyo introduced a zero-markup model in April 2026 for buying and selling foreign currency through its Niyo Forex arm
What happened
Customers trade at live market rates, so travellers lose less when they convert unused money back to rupees
Why it matters
The company says the aim is clearer pricing, since the usual gap between buy and sell rates hides costs
The details
- Niyo Forex launched a zero-markup buy-and-sell model.
- Rates follow the live market.
- It tackles losses when travellers convert money back (the gap between buy and sell prices is called the spread).
More on Niyo
- Niyo income rises 78% to ₹178 crore1 October 2026 · Results · ₹178 Cr
- Niyo wins GIFT City payment licence8 September 2026 · Policy
- Niyo acquires RemitX forex business for ₹11.4 crore1 September 2026 · Acquisition · ₹11.4 Cr
- Niyo Forex gets permanent RBI dealer licence3 August 2026 · Policy
- Niyo Forex opens Chennai branch1 April 2026 · Launch
- Niyo brings back Sai Sankar as forex chief9 February 2026 · People
- Niyo cuts FY25 net loss 55% to ₹78 crore23 October 2025 · Results · ₹78 Cr
- Niyo raises $30 million from Multiples12 July 2022 · Funding · $30 million
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