PE Fund Investments
Listed fintech co. Niyogin raises Rs. 56.2 Cr
Mumbai-based, publicly listed fintech player Niyogin has raised INR 56.2 crore through the conversion of previously issued warrants into equity shares. The conversion saw participation from MK Ventures, Aionios Alpha Investment Management, Ashika Group and Niyogin’s co-founder Amit Rajpal.These investors had initially contributed INR 19.2 crore as an upfront commitment at the time of subscribing to the warrants. Following the conversion, Niyogin issued 1,64,40,011 equity shares at INR 45.62 per share, raising the remaining funds.Founded in 1988 by Amit Rajpal and Gaurav Patankar, Niyogin , a non-banking finance company (NBFC), provides financial services to micro, small, and medium enterprises (MSMEs).
In May 2017, Niyogin Fintech had raised about USD 36.42 M from Sabre Partners, Ward Ferry and others.
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