Niyo Expands with Kanji Forex Acquisition
Deal News | Aug 13, 2025 | Lightrock
The fintech travel platform Niyo, supported by parent company Finnew Solutions, has completed the acquisition of Kanji Forex. This strategic acquisition allows Niyo to provide an extensive range of forex services, including foreign currency cash, forex cards, and outward remittances, leveraging its AD Category 2 license. Parallel to this acquisition, Amit Talwar has been appointed as the new CEO of Niyo Forex. With over 27 years of experience in banking, including roles at IndusInd Bank and ICICI Bank, Talwar will focus on expanding branches, rolling out new products, and forming partnerships to cater to India's growing number of global travelers. Niyo plans further expansion by opening more Kanji Forex branches across India and partnering with other businesses. Their aim is to simplify international banking for Indians through digital products, transparent pricing, and a broad national presence.
Sectors
- Financial Services
- Fintech
- Travel Services
Geography
- India – The acquisition and expansion plans focus on the Indian market, particularly in expanding Kanji Forex branches.
- United Kingdom – Amit Talwar previously worked in the UK within the ICICI Bank Group, adding an international dimension to his expertise.
Industry
- Financial Services – Involves services like forex, remittances, and banking provided by Niyo and Kanji Forex.
- Fintech – Niyo operates as a fintech platform, aiming to simplify international banking with digital products.
- Travel Services – Niyo caters to global travelers, which is a significant aspect of the travel industry.
Financials
- Not specified – The financial terms of the acquisition of Kanji Forex by Niyo are not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Niyo | Acquirer | Company | Niyo is a travel fintech platform focused on simplifying forex and international banking services. |
| Kanji Forex | Target Company | Company | Kanji Forex provides foreign exchange services and is now under Niyo's ownership. |
| Finnew Solutions | Parent Company | Company | Parent company of Niyo, involved in the acquisition of Kanji Forex. |
| Lightrock | Private Equity Firm | Company | Private equity backer of Niyo, supporting the firm's growth strategies. |
| Amit Talwar | Newly Appointed CEO of Niyo Forex | People | Amit Talwar joins Niyo with extensive banking experience, tasked with driving the company's forex expansion. |