Niyo Income Grows Significantly to Rs 178 Crore in FY26
Travel fintech platform Niyo has achieved a notable 78% increase in income, reaching Rs 178 crore in FY26, up from Rs 100 crore in the previous fiscal year, as stated in the company’s recent press release. Additionally, Niyo has reduced its losses by 58%, with the figures dropping to Rs 33 crore in FY26 from Rs 78 crore the prior year. This positive shift is attributed to enhanced efficiency, including the integration of AI in various functions such as customer service, operations, marketing, and product development.
Operational Expenses and Employee Costs
Niyo’s operating expenses have seen a rise of 20%, now amounting to Rs 201 crore in FY26, compared to Rs 168 crore in FY25. Employee-related costs climbed by 17%, reaching Rs 92 crore from Rs 79 crore. The company clarified that the surge in employee expenses is primarily linked to the growth of Kanji Forex, which operates under Niyo’s AD-II licence. Notably, despite the increased spending, Niyo’s EBITDA loss has nearly halved, now standing at Rs 32 crore in FY26 as opposed to Rs 77 crore in FY25, according to the press release.
Expanding Beyond Core Travel Services
Niyo is also broadening its focus beyond its main travel offerings. The company has shared that its revenue streams now include forex cash, remittances, flights, hotels, experiences, international eSIMs, and insurance, among other diverse services. Furthermore, Niyo is actively promoting more forex and travel products to its current customer base.
New Developments and Future Goals
The establishment of Finnew Global Solutions IFSC in GIFT City has been another pivotal step for Niyo, which has received the necessary approval to function as a Payment Service Provider under IFSCA regulations. Niyo’s CFO, Gourav Kumar, mentioned that the company is concentrating on extracting greater value from current customers, enhancing efficiency, and pursuing a path to profitability. With ambitious plans, Niyo aims to sustain annual growth exceeding 50% in the upcoming years and achieve EBITDA positivity.
To date, Niyo has successfully secured over $160 million in funding, including a significant $100 million Series C round in 2022. Notable investors in Niyo comprise Accel, Lightrock, Prime Ventures, Horizon, Tencent, and several others.