Niyo RemitX acquisition: ₹11.4 Cr cross-border move
The Niyo RemitX acquisition
Niyo has signed a definitive agreement to acquire RemitX, the forex and cross-border payments business of listed financial services company Capital India Finance, for ₹11.4 Cr.
Niyo said the deal is part of its effort to diversify revenue beyond its core travel offerings. Its FY26 revenue from operations rose 80.1% to ₹158 Cr, while its consolidated net loss narrowed 58.1% to ₹32.6 Cr.
What Niyo does
Niyo offers digital banking services for international travelers and students. Its products include international debit and credit cards, remittances, forex cash, flights, visa assistance, travel insurance and international eSIMs.
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Its primary product is a zero forex markup card. Users can load Indian Rupees and spend the money in over 180 countries, supported by partnerships with DCB Bank, SBM Bank and Visa.
Niyo’s revenue diversification
Niyo said contributions are growing from forex cash, remittances, flights, hotels, experiences, international eSIMs and insurance.
What Niyo said
“As we look ahead, our focus is not just on acquiring more customers, but on building deeper, longer-term relationships with our customers we already serve. With a strong cross-border customer base, we see a significant opportunity to bring more financial and travel products to them and create greater value over time,” said Niyo CFO Gourav Kumar.
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