Indian neobank Niyo raises $100 million

India’s Niyo has raised $100 million in a new financing round as the consumer-facing neobank platform looks to add lending and insurance to its offerings and make deeper inroads in the world’s second largest internet market.

Accel and Lightrock India co-led the Bengaluru-headquartered startup’s Series C financing round. Existing investors Prime Venture Partners, JS Capital and Beams Fintech Fund also participated in the round, which brings the six-year-old startup’s all-time raise to about $150 million.

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