Bengaluru- based personal finance startup Index has been acquired by Digital Banking Fintech Niyo. After acquiring Goal-wise back in 2022, this is Niyo’s second purchase. However, the company has not disclosed the worth of the deal.
Anand Krishna and Kumar Siddhartha along with the team INdex will soon join the Niyo.
‘With Index’s abilities integrated into NiyoX’s offerings, users will have access to a best-in-class, 360-degree view of their earnings, savings, investments, insurances in a single view. Customers will also get the nudges to plan their expenses, pay bills and save,’ it said.
Anand Krishna and Kumar Siddhartha’s SOSV Investments-backed Index, which was launched in 2020, pulls knowledge from customers’ financial data to give them a unique glimpse into their spending habits, transaction history, and bank details.
‘We are excited to welcome the Index team to the Niyo family and to see the value that our users get out of this addition to the NiyoX product. The aggregation and analytical capabilities of Index will help expand NiyoX’s functionality to equip users with the valuable insights they need to meet their financial goals,’ Vinay Bagri said, co-founder and CEO of Niyo.
He went on to say that integrating and releasing Index within the NiyoX app will be a thrilling experience for both the firm and its consumers.
Anand Krishna, co-founder, and CEO of Index said, “Combined with unique digital banking offerings, we’ll be able to give unrivaled personal finance tools to users. More importantly, Index’s technology will now be in the hands of millions of users that Niyo has already captured – and millions more to come.”
NiyoX (next-gen savings account for millennials), Niyo Money (suite of wealth products), Niyo Global Card (banking experience and value for international travelers), and Niyo Bharat Payroll solutions. These are four major operating outlets of Niyo. The organization presently has over 7,000 corporate clients and services a consumer base of about 2 million people.