Archive · 4 Jan 2026
Niyo's Journey to Foreign Exchange Focus
Niyo is a company started by Virender Bisht in 2014.
At first, it didn't have a clear goal but focused on improving payment systems.
The big break came when users found out Niyo's cards had no extra fees for international transactions.
This led to the creation of Niyo Global, which now makes up most of the company's business.
Students studying abroad especially loved the cards and told their friends about them.
Today, Niyo is growing fast and aims to be profitable next year.
Niyo was founded in 2014 by Virender Bisht, initially focusing on payment rails and user experience.
The breakthrough came with the Niyo Benefits Card, which led to the discovery of a zero-markup foreign exchange feature.
Niyo Global, launched in partnership with DCB Bank, now contributes nearly 90% of the company's business.
Students studying abroad became strong advocates, driving organic growth through referrals.
Niyo reported a 32% increase in operating revenue to Rs 123.4 crore in FY25, with losses narrowing significantly.
- Who
- Virender Bisht, co-founder and CTO of Niyo
- What
- Niyo's evolution from a payment-focused startup to a foreign exchange leader
- When
- Founded in 2014, significant growth post-2015
- Where
- India, with a focus on international travel
- Why
- Discovered a zero-markup foreign exchange feature that resonated with users, particularly students
- Founder
- Virender Bisht
- Year Founded
- 2014
- Initial Focus
- Payment rails and user experience
- Breakthrough Product
- Niyo Global (zero-markup international cards)
- Current Monthly Onboarding
- 30,000–40,000 customers
- Revenue FY25
- Rs 123.4 crore
- Losses FY25
- Rs 77.8 crore
- Employees
- Over 500