M&A
Travel fintech firm Niyo acquires forex services provider RemitX for Rs 11.4 Cr
Travel fintech Niyo , through Kanji Forex, its wholly owned subsidiary, is to acquire the Mumbai-based RemitX from Capital India Finance for INR 11.4 crore. The deal includes the transfer of the RemitX brand and the onboarding of over 200 employees into Niyo.Founded in 2020, RemitX is a foreign exchange service provider that currently operates across more than 30 cities in 16 states, including several Tier-II and Tier-III markets.The acquisition adds a network of 32 branches and more than 2,500 distribution partners to Niyo’s existing infrastructure. The company plans to use this newly acquired network to expand its cross-border payments business.
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