Finnew Solutions, parent of fintech unicorn Niyo, reports significant revenue growth and loss reduction in FY26, backed by technological efficiency and strategic acquisitions, signalling a pivotal shift in its business expansion and profitability trajectory.
Niyo’s parent, Finnew Solutions, sharply reduced its annual loss in FY26 as stronger operating revenue and efficiency gains helped offset rising spending, according to Inc42. The fintech soonicorn said revenue from operations climbed 80.1% to ₹158 crore in the year ended March 2026, from ₹87.8 crore a year earlier, while consolidated net loss narrowed 58.1% to ₹32.6 crore from ₹77.9 crore.
The improvement came as Niyo leaned more heavily on technology to streamline customer service, operations, marketing and product development. The company also said it was broadening its business beyond travel-linked offerings, with growing contributions from forex cash, remittances, flights, hotels, experiences, international eSIMs and insurance. Including other income and other gains, total income rose to ₹178.5 crore in FY26.
Inc42 reported that gross revenue from the sale of services increased 52% to ₹187.6 crore from ₹123.4 crore, before deducting ₹29.6 crore payable to customers to arrive at operating revenue. Network partner services almost doubled to ₹132.4 crore and accounted for 71% of gross revenue, while technology-led financial services rose 6% to ₹46.9 crore. The company also generated revenue from foreign currency handling, travel currency cards and telegraphic transfers, along with other operating services.
Losses narrowed even as expenditure increased 19.2% to ₹212.7 crore. Employee benefit costs remained the largest line item at ₹91.7 crore, while marketing outlays jumped more than threefold to ₹33.4 crore and network and card fees rose to ₹29.4 crore. Niyo’s EBITDA loss also fell 60% to ₹32 crore, and finance chief Gourav Kumar said the company ended the year with a stronger balance sheet and deeper ties with banking partners. He added that Niyo expected to sustain growth and move towards EBITDA positivity soon.
The company’s strategy also includes inorganic expansion. Niyo said it had signed a definitive agreement to buy RemitX, the forex and cross-border payments business of Capital India Finance, for ₹11.4 crore. Separate reports said the transaction would be carried out through Niyo’s wholly owned subsidiary, Kanji Forex, which holds an RBI Authorised Dealer Category II licence, and would add a physical network of branches and distribution partners to its existing digital model.
Founded in 2015 by Vinay Bagri and Virender Bisht, Niyo targets international travellers and students with products including zero-forex-mark-up cards, remittances, forex cash, flight bookings, visa support, travel insurance and international eSIMs. It has raised close to $180 million so far and counts Accel, Lightrock, Multiples, Tencent and Prime Venture Partners among its backers.
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