HomeStartupFintech startup "NIYO" spent Rs 2.4 to earn a rupee in FY23

Fintech startup “NIYO” spent Rs 2.4 to earn a rupee in FY23

Published on

spot_img
Fintech startup Niyo acquires personal finance app Index-Telangana Today
  1. Niyo demonstrated substantial growth, with its revenue soaring from Rs 47 crore in FY22 to Rs 131 crore in FY23.
  2. Network partner services formed the major chunk of collections, contributing 54% and surging 6.45X to Rs 71 crore in FY23.
  3. Expenses saw a notable increase; employee benefits accounted for 35% of total expenditure, rising by 40.5% to Rs 111 crore in FY23.
  4. Niyo reduced its losses by 14% from Rs 206 crore in FY22 to Rs 177 crore in FY23, Its ROCE and EBITDA stood at -54% and -120% respectively.
SourceEntrackr

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...