Leading Fintech Niyo rolls out its second ESOP buyback plan
India’s fastest-developing client-facing banking-tech platform has introduced its 2d employee stock possession plan (ESOP) to praise its personnel for contributing to the organization’s rapid increase. Founded in 2015, Niyo gives virtual savings debts and other banking services in partnership with banks. It currently serves over 5 million customers across its banking and wealth control merchandise, with over 10,000 new customers brought day by day to its platform.
The buyback assertion comes at a time of hard market conditions and demonstrates Niyo’s self assurance in its business growth and additionally reflects its dedication to regular wealth introduction for its employees. Career in India Niyo has a group of workers strength of 500 and the buyback plan will cover a majority of its employees with a vintage length of over years and appropriate overall performance scores across the last few years. Earlier in April ’22, Niyo granted about Rs. 40 crores of ESOP cost to its personnel in its annual appraisal.
Vinay Bagri, Co-founder & CEO, of Niyo, stated, “We have doubled our business extent during the last three hundred and sixty-five days and feature created a formidable logo. The growth is an affidavit of the difficult work demonstrated by our group participants. We have continually been a worker-centric corporation that believes in giving a feel of ownership to our employees. The 2d ESOP buyback plan is our humble attempt to deliver our gratitude to the group that has stayed with us.”
The year has been eventful for Fintech Niyo. Despite the funding wintry weather, Niyo raised $100 million in a Series-C round led via US-founded Accel and London-established Lightrock India. In July, Niyo raised $30 million from Multiples, a BFSI-focused non-public equity company. The business enterprise additionally introduced its foray into credit score cards and coverage.
Jagadish B, Head of Human Resources, Niyo said, “In the previous few months, the corporation has seen giant improvement in all the commercial enterprise KPIs because of the collective conviction and the contribution of the complete team that persisted to paintings relentlessly in the direction of patron excellence and business performance. We are thankful to be in a strong role within the modern-day marketplace in spite of unsure macro surroundings. We are committed to creating extra such opportunities for our personnel in the close to destiny.”
About Niyo
Niyo is a fintech startup, career counselling in india conceptualized in 2015. It gives co-branded merchandise in partnership with central banks in India. Its products encompass a payroll card for blue-collared personnel; an international card for worldwide travelers; and savings account for millennials.
Niyo operates out of corporate places of work in Bangalore, Mumbai, and Delhi and has a sales presence in greater than 20 states and union territories, presently serving a customer base of around a 5million+ and an employer/SME base of over 6,000. It employs around 500 human beings. Its buyers consist of Accel, Lightrock, Multiples, Prime Venture Partners, Horizons Ventures, Tencent, JS Capital, Social Capital, and Beams Fintech Fund.
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