Niyo, a travel fintech platform specialising in cross-border payments for outbound Indian travellers, has acquired Mumbai-based Kanji Forex through its parent company Finnew Solutions.
The acquisition aims to bolster Niyo’s forex capabilities and advance its vision of building a comprehensive global banking platform.
Alongside the deal, Niyo has appointed Amit Talwar—a veteran banker with over 27 years of experience—as CEO of Niyo Forex (Powered by Kanji Forex Pvt Ltd). Talwar has held leadership roles at IndusInd Bank and ICICI Bank group entities in India and the UK, spearheading initiatives in transaction banking, global remittances, cash management, and blockchain-based solutions.
Founded in 1935, Kanji Forex (Kanji Pitamber & Co.) was one of the first to provide foreign currency services to Indian and global banks. Under Niyo’s ownership, the brand will expand its physical network across India and build B2B partnerships to deepen market penetration.
The move allows Niyo to roll out a full-stack forex portfolio—including FX cash, FX cards, and outward remittances—under its AD Category 2 licence. By integrating Kanji’s offline expertise with Niyo’s digital-first platform, the company will cater to travellers, students, professionals, and global citizens.
Backed by over $179 million in funding, Niyo operates across 20 states and serves two million+ customers. This acquisition is expected to accelerate its mission of delivering transparent pricing, innovative digital products, and nationwide access to international banking services.
By: Arushi Agarwal
