Niyo, India-based neo banking startup, announced on Wednesday it has acquired Goalwise, a wealthtech platform. Niyo reported that the acquisition is in line with its goal of building a comprehensive product suite for its users.
“Apart from the DIY zero percent commission mutual fund product already live on Niyo Wealth platform, the company plans to launch international and domestic stocks, robo-advisory and auto-invest products in next few months.”
Niyo further revealed that Goalwise currently has more than 60,000 users with $113 million AUA (assets under advice). The platform notably offers a unique set-and-forget goal-based investing solution that oversees all aspects of investment, including mutual fund selection, portfolio rebalancing, and target-tracking. Speaking about the acquisition, Vinay Bagri, Co-Founder of Niyo, stated:
“It has been our constant endeavor to offer the best financial products to our consumers and make the banking process easy, secure, and convenient for all. We strongly believe in the importance of investing and helping our customers achieve their life goals of financial stability and independence. The acquisition of Goalwise is a significant step in that direction.”
Founded in 2015, Niyo claims it has been at the forefront of making banking simpler, smarter, and safer with “continual digital innovation.”
“Niyo IDFC First bank, an account, an app and a card unlike any other. With a host of mighty features like – Industry’s best interest rate on savings account, 0% commission on Mutual Funds investments and 0% on forex, So be it banking, wealth management or efficient international payments we have it covered and we do it better.”