Niyo's Income Jumps 78% to Rs 178 Crore in FY26, Losses Cut by More Than Half
Travel fintech platform Niyo has reported a strong improvement in its FY26 financial performance, with total income growing 78% year-on-year to Rs 178 crore, up from Rs 100 crore in FY25, according to the company's press release.
Here's what's driving the turnaround. Niyo's net loss narrowed sharply by 58% to around Rs 33 crore in FY26, down from Rs 78 crore the year before, while its EBITDA loss nearly halved too, dropping to Rs 32 crore from Rs 77 crore. The company credits much of this efficiency gain to AI adoption across customer service, operations, marketing and product development, essentially doing more with leaner spending.
The expense side tells an interesting story too. Operating expenses did rise 20% to Rs 201 crore in FY26, largely driven by the expansion of Kanji Forex, which operates under Niyo's own AD-II licence, a regulatory approval that lets the company handle foreign exchange more directly. Despite higher employee costs tied to this expansion, Niyo still managed to grow revenue faster than expenses, which is exactly the kind of financial discipline investors want to see.
The bigger strategic shift here is diversification. Niyo is actively moving beyond its original travel-card roots, with revenue now coming from forex cash, remittances, flights, hotels, experiences, international eSIMs and insurance. The company has also signed a definitive agreement to acquire RemitX, the forex and cross-border payments business of listed financial services company Capital India Finance, for Rs 11.4 crore, adding another lever to its remittance and forex play.
Niyo CFO Gourav Kumar framed the priority clearly, saying the company is now focused on extracting more value from its existing customer base, improving operational efficiency, and moving steadily toward profitability, with an expectation of maintaining over 50% annual growth in the coming years while working toward becoming EBITDA positive. Backed by over $160 million in total funding raised to date, Niyo's FY26 numbers suggest a fintech that's finally balancing growth with financial discipline.
From travel forex cards to a full-stack cross-border fintech platform, Niyo's FY26 performance is a signal that India's travel fintech story is maturing past pure top-line growth.
#StartupNews #Niyo #Fintech #TravelTech #FY26Results #IndianStartups #Forex
— Sandeep Raiza