US Capital Global engaged as financial advisor to a Canadian fintech company specializing in ATM and kiosk software development and integration, alongside.
Founded in 2015, Niyo offers millennials savings and investment accounts through its Indian banking partners. The company is known for its global travel card, which offers zero forex charges and helps users save on international spends.
It offers multiple customer-friendly advantages including high interest rates of up to 7.5 percent per annum, a premium debit card and vouchers worth Rs. 1,500 for premier brands.
The layoffs have been undertaken to increase its cash runway from almost one and a half years currently to two years and are expected to impact employees across functions including engineering, product, analytics and process excellence, among other teams.