Fintech startup Niyo rolls out ESOP buyback plan

With business crossing pre-Covid level and operating profit in sight, fintech startup Niyo has announced an ESOP buyback plan to reward its employees. This programme announced today will benefit 100+ employees who have completed two years in the company.

Earlier in July, Niyo had offered 10-12% salary hikes and bonuses to all its employees. The company also offered ESOPs to eligible employees, taking the total stock grants to over Rs.100 crore. The company will now buy back upto 25% of vested stocks from all its eligible employees.

Commenting on this development, Vinay Bagri, Niyo cofounder & CEO said in a release, “Employees are the biggest asset for any company. In the last eight months, our team has worked relentlessly towards meeting company’s goals and objectives and we have been able to get our business better than pre-covid level. Our ESOPs buyback offering is an attempt to reward our employees.”


Earlier this year, the company announced the acquisition of Goalwise, a new-age mutual funds platform, to launch a vertical under the brand name ‘Niyo Money’. Niyo Money is headed by Goalwise founders and it offers financial solutions like robo advisory, auto investments in domestic stocks and mutual funds.

“With branchless banking and contactless payment being the new norm, Covid-19 has accelerated the digital adoption of financial services among both white-collar and blue-collar workers in India. It has been a great opportunity for a fintech startup like Niyo to ride the digital wave,” added Bagri

Niyo has a customer base of 2 million+ and 9,000+ corporates. The company is backed by marquee investors such as Social+Capital, JS Capital and Prime Venture Partners, and has raised about $49 million in funding so far.