Niyogin Fintech Ltd, a publicly listed fintech platform, on Tuesday said its board has approved plans to invest ₹100 crore to boost growth.

Niyogin caters to India’s underserved MSMEs and rural individuals, and is engaged in diversified segments such as rural tech, credit, and wealth tech. In MSMEs, Niyogin counts on the strong customer connect of it’s to drive business growth on a revenue sharing model. The company also operates on a hybrid model wherein it provides technology solutions across different segments to its partners, who in turn handle the physical leg of customer servicing for a revenue share. In rural areas, the company helps retail stores to offer payments and financial transactions to customers in their vicinity.

“We are excited by the board’s decision to approve the hypergrowth business plan that entails an investment of upto Rs100 crore to create the most comprehensive financial inclusion platform offering in the market enabling the business to scale rapidly and build multiple-interlinkages with open architecture and in a modular format. Given our strong balance sheet, we can support such investments and this sets us up for exponential growth over the next 2 years," said Amit Rajpal, Co-Founder, and Non-Executive Chairman, Niyogin Fintech Ltd.

The company also announced the financial results for the quarter ending 30 September, recording a 230.5% year-on-year growth in revenue to ₹25.9 crore. The company saw its gross transaction value (GTV) including payouts of rural-tech for the quarter grow to ₹2,100 crore, up 12.1% YoY, while its wealth tech assets under management grew to ₹1,824.4 crore, up 120.7% YoY.

“Our business model has been validated with sustained operational and financial performance. We recorded an 18% sequential revenue growth as we crossed INR 20 billion in GTV this quarter. Our decision to invest incremental capital in the business will enable us to expand the addressable market and add multiple products to make this the most comprehensive fintech Infrastructure platform" said Tashwinder Singh, CEO, Niyogin Fintech Limited said.