Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Niyogin Fintech to expand MSME business

Posted On: 2018-09-06 13:34:42

Niyogin Fintech is on a journey of democratizing finance for MSMEs through an empowering ecosystem of products, partnerships, technology and exceptional customer experience; Niyogin had started this foray with providing collateral free credit to small businesses and is now building further synergies in line with its vision. Niyogin has over 280 distribution channel partners in more than 80 locations across 6 states as we expand our business pan India.

Moneyfront, a wholly owned subsidiary of InvestDirect Capital Services Pvt. Ltd. is an automated direct plan platform provider helping clients invest in mutual funds and other fixed income instruments. It enables users to consolidate their fund holdings digitally from traditional channels to direct channel with the aim of upselling higher value products along with building advisory capabilities. In a span of 20 months, Moneyfront has enabled transactions of over 600 crores through their digital interface. With a client base of over 10,000, roughly 40% are from beyond the top 8 cities.

The niyogin Moneyfront partnership is positive for the shareholders of both organizations. The partnership will help Moneyfront accelerate its growth by leveraging niyogin's distribution channel and state of the art technology platform while allowing niyogin to take a significant step forward in building its knowledge and capabilities within the wealth solutions domain; This is in line with Niyogin's vision of creating a value-based ecosystem with the customer at the center of this thought.

"We are excited to partner with Moneyfront where I believe that the combination of wealth solutions and talent which Moneyfront brings to the table will enable deepening of our existing client relationships while being value accretive to our shareholders." - Amit Rajpal, Non-Executive Chairman & CoFounder.

"We are delighted to enter into a strategic partnership with niyogin which provides us the necessary capital for growth, adds to our technology & data prowess whilst providing us systematic access to Tier 2 & Tier 3 cities - all being key drivers for building a successful wealth business." - Mohit Gang, Co-founder & CEO.

The Indian mutual fund industry has seen a five-fold growth in assets under management over the past decade with the potential to address a market of INR 200 trillion (~$3 trillion) in the next 5 years according to an article published in ET. With this strategic partnership, niyogin and Moneyfront will have the solutions, platform and distribution heft to address the credit and the wealth needs of the underserved customers in non-urban locations pan India.

Shares of Niyogin Fintech Ltd was last trading in BSE at Rs.137.8 as compared to the previous close of Rs. 142.2. The total number of shares traded during the day was 1776 in over 35 trades.

The stock hit an intraday high of Rs. 142 and intraday low of 136. The net turnover during the day was Rs. 247222.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

NBCC India Ltd secures business of Rs. 921.67 crore in August 2018

G E Shipping takes delivery of Secondhand Very Large Gas Carrier 'Jag Vasant'

RBI allows Rana Kapoor to continue as MD & CEO of YES Bank till Jan 31, 2019

Asian Paints Ltd announces sad demise of Shri Ashwin Choksi

CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Blue Coast Hotels Ltd hands over possession of Goa hotel to ITC

Shankara Building Products Limited opens its 134th Store

Allahabad Bank to raise Rs. 1500 crore through QIP in 2018-19

Manali Petrochemicals Ltd to commence supply of new products from Sep 19, 2018

HPL Electric Participates in 12th edition of 'Renewable Energy India Expo 2018'

Vaibhav Global Ltd allots 1666 shares

Kanpur Plastipack Ltd extends date for payment of final call money

Newgen Software Technologies Ltd signs agreement with HP for supply of software licences

Raghav Productivity Enhancers Ltd bestowed with Rajasthan Udyog Ratan Award 2018

Varroc Engineering arm forms JV with ELBA SA

Nucleus Software's lending software goes live at VietCredit Finance Joint-Stock Company

Glenmark Pharmaceuticals inducted into the DJSI Emerging Market 2018

HFCL bags purchase order worth Rs. 611 crore from BSNL

26 young people with type 1 diabetes successfully surmount 13,000 feet in 'India's 2nd T1D Challenge 2018'

TVS Motor Company strengthens its presence in Mexico

Brand Idea urges people for 'Responsible Use of Social Media' through the latest #MeriRealLife campaign

Bharti Foundation expands Quality Support Program to Karnataka

Ambuja Cement among the top 5 in global DJSI ranking-2018

Dish TV: D2H brand increases focus on South, launches new customer awareness TVC

Tata Steel Limited completes the acquisition of 51% equity stake in Creative Port Development Private Limited

Clariant Chemicals India Ltd updates on announcement from holding company

Lupin appoints Alok Sonig as CEO - US Generics and Global Head - Generics R&D & Biosimilars

KIOCL Ltd approves buyback of 1,25,88,235 equity shares at Rs. 170

IL&FS Transportation Networks Ltd arm gets claim from NHAI

Vyapar Industries Ltd approves sale of part investment in Beneficent Knowledge Parks & Properties Ltd

TI Financial Holdings Limited to change name

NIIT Technologies introduces Chain-m, a Blockchain powered solution for Airlines and its partners

Steel Strips Wheels Ltd announces resignation of CFO

RITES Ltd secures additional turnkey contract work for Rs. 436 crore

Sun Pharma announces receipt of European Commission approval for ILUMETRI® by Almirall

Tata iQ Selects TCS Jile™ to Drive Agile Transformation

ICICI Prudential Life and Saraswat Co-operative Bank sign bancassurance partnership

Woodpecker Distilleries & Breweries Private Ltd. launches Blackfort Lager Beer

DAC Approves Procurement of Equipment Worth Rs 9,100 Crores

ITI Limited Conferred with National Safety Awards

Future Market Networks Ltd completes acquisition of 50% in Future Retail Destination Ltd

Strides Pharma Science Ltd updates on USFDA inspection at Bangalore facility

Lime Chemicals Ltd appoints company secretary

Indian Hume Pipe Company Ltd receives LoA for Rs. 221.72 crore order

PNC Triveni Sangam Highways Pvt Ltd achieves financial closure

Financial Creditors initiate CIRP against Pratibha Industries Ltd

Bank of Baroda confirms intimation received on merger of Vijaya Bank and Dena Bank

L&T Construction Wins Orders Valued Rs. 2048 Crore

TVS NTORQ 125 crosses 1 lakh sales mark, launches new Metallic Red colour

Infosys updates on arbitration with former CFO Rajiv Bansal

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018