Latest news with #AmitTalwar
Time of India
2 days ago
- Business
- Time of India
indusind bank: Niyo acquires Kanji Forex; appoints Amit Talwar of IndusInd Bank as CEO of forex business
Finnew Solutions, which operates fintech startup Niyo , has acquired legacy forex company Kanji Forex , thereby entering into the foreign currency exchange business. The Bengaluru-based startup has appointed ex-IndusInd Bank senior executive Amit Talwar as the chief executive officer of Niyo Forex , the new business entity set up through the company did not disclose the financials of the Niyo plans to offer forex offerings across foreign currency, forex cards, and outward remittances, which are allowed as per the regulatory licence. Niyo will further expand Kanji Forex's physical presence and set up new branches to grow the business as a prepared statement, the company said that it will explore partnerships with corporate houses to solve their forex Niyo is a venture-funded startup that has raised $179 million from large investors like Accel , Lightrock, Beams Fintech Fund, and others, Mumbai-based Kanji Forex was started back in Forex's new CEO, Amit Talwar, has spent over 27 years in the banking industry, having worked previously at IndusInd Bank and before that at ICICI Bank 'At Niyo, we have been pioneers in democratising cross-border card solutions. The acquisition of Kanji Forex is a pivotal step in our journey to offer a full-suite global banking platform,' said Vinay Bagri, cofounder of Niyo.
Economic Times
2 days ago
- Business
- Economic Times
Niyo acquires Kanji Forex; appoints Amit Talwar of IndusInd Bank as CEO of forex business
Finnew Solutions, which operates fintech startup Niyo, has acquired legacy forex company Kanji Forex, thereby entering into the foreign currency exchange business. The Bengaluru-based startup has appointed ex-IndusInd Bank senior executive Amit Talwar as the chief executive officer of Niyo Forex, the new business entity set up through the acquisition. The company did not disclose the financials of the deal. Accel-backed Niyo plans to offer forex offerings across foreign currency, forex cards, and outward remittances, which are allowed as per the regulatory licence. Niyo will further expand Kanji Forex's physical presence and set up new branches to grow the business as well. In a prepared statement, the company said that it will explore partnerships with corporate houses to solve their forex requirements. While Niyo is a venture-funded startup that has raised $179 million from large investors like Accel, Lightrock, Beams Fintech Fund, and others, Mumbai-based Kanji Forex was started back in 1935. Niyo Forex's new CEO, Amit Talwar, has spent over 27 years in the banking industry, having worked previously at IndusInd Bank and before that at ICICI Bank. 'At Niyo, we have been pioneers in democratising cross-border card solutions. The acquisition of Kanji Forex is a pivotal step in our journey to offer a full-suite global banking platform,' said Vinay Bagri, cofounder of Niyo.
Entrepreneur
3 days ago
- Business
- Entrepreneur
Niyo Expands Forex Operations with Kanji Forex Acquisition and Leadership Appointment
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Niyo, a travel fintech platform focused on cross-border payments and travel banking for Indian travellers, has expanded its presence in the foreign exchange market through the acquisition of Kanji Forex. The move is accompanied by the appointment of veteran banker Amit Talwar as the Chief Executive Officer of Niyo Forex, which will operate under the name Kanji Forex Pvt Ltd. The acquisition, executed by Niyo's parent company Finnew Solutions, is aimed at strengthening its capacity to offer a broad spectrum of forex services. With this development, the company will provide forex cash, prepaid cards, and outward remittances under its Authorised Dealer (AD) Category II license. Plans include expanding Kanji Forex's branch network across India and forming strategic business-to-business partnerships to extend market reach. Kanji Forex, founded in 1935 as Kanji Pitamber & Co, is considered one of the oldest and most respected names in India's forex sector. Based in Mumbai, it has served as an institutional broker and money changer for decades, playing a role in introducing foreign currency options services to both Indian and international banks. Talwar brings over 27 years of experience in banking, including leadership roles in transaction banking, remittances, and unsecured lending. Before joining Niyo Forex, he served as Executive Vice President and Head of Transaction Banking at IndusInd Bank, where he oversaw initiatives such as expanding international remittance corridors and introducing blockchain-based solutions. His career also includes nine years with ICICI Bank group entities in India and the United Kingdom. Vinay Bagri, CEO and Co-founder of Niyo, said, "At Niyo, we have been pioneers in democratising cross-border card solutions. The acquisition of Kanji Forex is a pivotal step in our journey to offer a full-suite global banking platform. Amit's deep banking and cross-border payments expertise with proven leadership skills make him the ideal choice to lead our forex business into becoming the market and category leader." "Over the years, Niyo has built a strong top-of-mind recall as a digital-first travel banking brand. With Kanji now part of the Niyo family, Niyo Forex is uniquely positioned to offer integrated forex solutions across digital and physical touchpoints. I am excited to lead this next phase of growth, which will focus on branch expansion, product innovation, and partnerships to serve India's growing global citizens," stated Amit Talwar, CEO, Niyo Forex (Powered by Kanji Forex Pvt Ltd). The move is part of Niyo's broader strategy to simplify international banking for Indian consumers, including travellers, students, and professionals, by combining digital platforms with nationwide accessibility.
